If there’s a list of the most exciting places on the planet, the recent activities make sure that Istanbul is on that list. Just spend a little time and you will realize that Istanbul has become much more dynamic that it ever was. Amazingly rich in history, the city is located at such crossroads that no matter what the new world has to offer, it’s always there just under the surface. The city with a population of over 12 million, is in need of renovation. The good news is, the renovation is happening and presents an opportunity.

Turkey bears the typical hallmarks of an increasingly diverse and enthusiastic investor base. People who are looking to invest will find quality residential properties, a growing retail sector, increase in disposable income and employment opportunities. The demand for property seems to be on the rise. Demographic changes such as increase in population and inbound migration will make sure that the demand does not decrease in the near future.

The population in Turkey has quadrupled in the last 25 years and the demand for new housing outstrips the supply by a large margin. High levels of foreign investment coupled with economicfactors like impending EU-accession are fuelling a very strong economic boom in the metropolis. The domestic mortgage market seems to be open on a wide scale for the first time. The government has allowed foreigners to buy or sell properties in their own name without any restriction. It has also abolished tax on capital gains and looks keen on attracting interest of the international community.

Due to the limited availability of land and very high market prices, developers have shown intent to build up the thriving suburbs of Istanbul. The construction of new, western style residences is aimed at meeting the demands of the ever increasing section of middle class. An estimate by the Real Estate Investment Trust Association says that nearly 250,000 new homes are required annually to meet the requirement.

This acute shortage of houses and the ever growing market in Istanbul provides an excellent opportunity to investors. So, is Istanbul ready for investment? Yes. There can be no doubt that Istanbul is a hot investment property and that this is one of the best times for the city and the investors alike.

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