Istanbul: The new investment hotspot

Istanbul is fast becoming the new investment hotspot, according to experts.

The city's rapid construction of commercial property and continuing demand from businesses makes it the star of Turkey's property market, believes Knight Knox, leading the country's surge in popularity among international investors.

"Turkey has always been a popular destination with our buyers," comments Dave Smith, Property Consultant at Knight Knox International, "and even more so now, as it is viewed as a more secure market than other countries in Europe. In particular, enquiries into property in Istanbul are increasing, as investors look towards gaining an income from the residential property market."

A recent report by CBRE (Istanbul Property Market Q1, 2012) paints an extremely positive outlook for the city, with numerous multinational insurance and banking companies and organisations set to relocate and/or expand to Istanbul over the next 12 months. This influx of investment has meant that there has also been a lot of investment from the private sector, in regards to residential developments targeted at commuters or city workers.