Fresh from being named as the number one European city for property investment
by PricewaterhouseCoopers, official data has now revealed that Istanbul has enjoyed a 28.5 per cent increase in visitor numbers during January.
Figures from the Turkish Culture and Tourism Ministry show that the number of tourists arriving in the Turkish city jumped from 294,352 in 2010 to 378,380 last month.
Strong economic growth averaging 7.5 per cent over the last five years means that an increasing number of investors are now looking at the opportunities which exist in the market.
Real estate experts are predicting that property prices in Istanbul could double or even triple over the course of the next five years time, with significant capital appreciation also expected on buy-to-let.
"Istanbul should be on any savvy buy to let investors' radar
in 2011. Follow the experts and capitalise on the massive demand for quality housing in the city, low entry levels, up to 75 per cent non-status finance and protected rental income - now is the right time to invest," Steven Worboys, managing director of Experience International, said.
- Monday 21 February 2011