Istanbul emerges as investment favourite

Istanbul is one of the top cites for real estate investment, a new survey has revealed.

PricewaterhouseCoopers' (PwC) sixth annual emerging Trends in Real Estate Europe report found the Turkish capital to be second only to Munich and Hamburg in terms of offering opportunities to those looking to make purchases abroad.

The country secured first place in offering development prospects, however respondents to the survey expressed concern over the danger of buying property in Istanbul, ranking it as the eighth riskiest city in which to invest.

Real estate leader in Europe, the Middle East and Africa at PwC John Forbes noted that this will be a "tough year for many investors".

"For those who bought at the top of the market it could be a struggle for survival," he remarked, adding that it is likely there will be opportunities available for those with equity to spend.

Atlas International recently cited Turkey as a popular location for investors looking to make purchases outside of the eurozone, as prices in the country are low compared to elsewhere in Europe.

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