Istanbul leads the way in new developments

Istanbul continues to lead when it comes to property developments, a new report has claimed.

According to Turkish news source Hurriyet Daily News, for the second year in a row a joint study by PricewaterHouseCoopers and the Urban Land Institute (ULI) has found Turkey's largest city to lead the way in terms of development expectations for the coming year.

Furthermore, the city ranked in the top five for real estate purchase expectations.

The news provider quoted Firuz Soyuer, board member at ULI Turkey, as saying that Istanbul stood as one of the top areas for development.

"We will probably see bigger portfolios. Investors might also look toward different areas to spread risk. Maybe shopping streets will come to the fore again," he predicted.

"International investors are still wary toward investing in logistics. Meanwhile, hotels in Istanbul still do not number many. Thus, we will see an increase in the supply of four-star hotels on the Anatolian side especially."

Property investors looking to the country may wish to consider property in Bodrum, as three low-cost airlines have all announced plans to increase the number of flights to the region.

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