Brits join buyers investing in Istanbul

International buyers continue to flock to Istanbul - and Brits are at the front of the pack.

British buyers are driving foreign interest in Istanbul’s real estate, according to agents, as the Turkish city’s international appeal grows.

A recent report from JLL confirmed Istanbul’s as one of Europe’s “Big Four” megacities, standing alongside London, Moscow and Paris. Istanbul was revealed as the most improved emerging world city during the last five years on a range of performance indicators, with JLL highlighting its economic fundamentals as being stronger than many of its global peers.

Indeed, JLL’s Index of Commercial Attraction ranks the city in the world’s top 20 important business hubs. The report arrives as Knight Frank reveals that Turkey was leading house price growth in the final growth of 2015, with values soaring 18.4 per cent year-on-year.

“As a city, Istanbul has become a key player on the international stage, enhancing its potential as an investment hotspot. Not only has Istanbul’s successful transformation into a global city of business now been recognised, but its unique location and historical architecture has also allowed it to preserve an element of wonder that appeals to prospective European buyers, especially those from the UK,” explains Adil Yaman, Director of Universal21, the largest management company based in Istanbul.

Indeed, the company has witnessed a wealth of interest from UK buyers, accounting for the majority of all 2015 enquiries in comparison to any other nation. Brits made up more than one in five (21.51 per cent) of last year’s enquiries, higher than buyers from the USA (8.34 per cent).

The rising interest from UK buyers is noted just as Universal21 launches its new development, Crest Plaza Residence, in the Beylikdüzü district of Istanbul. The property is well-located for both transport links and amenities, with the beach a 10-minute drive away and Istanbul’s Ataturk airport a 20-minute drive away. Starting at £60,000, one, two and three-bedroom duplex penthouse apartments are available.