Posta - According to the Emerging Trends in Real Estate, Europe 2010 report that analyzes the latest trends and developments in the real estate sector, Istanbul is at the top of the list of ‘City Development Prospects’ in Europe. The biggest city in Turkey is favored by real estate investors for its development potential and positive long term prospects.
According to the report by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI), out of a total of 27 cities in Europe, Istanbul has been ranked 5th in the ‘New Property Acquisitions list’ and 7th in ‘City Investment Prospects: Existing Property Performance’, on the back of investors preferring cities in Western Europe due their low-risk assessments.
The report noted that with the leveling of the real estate prices and the increase in the availability of credits, the real estate sector in Europe is expected to recover in 2010, albeit slowly. The report pointed out that while real estate investors head towards countries such as Germany, the United Kingdom and France with their less risky markets, Turkey, especially Istanbul, remains attractive due to its long term potential. Young population and economic growth expectations are the main reasons behind the interest in Turkey and Istanbul.