Continuing tourist boom inflates istanbul house prices

A sharp rise in passenger numbers at Istanbul’s Sabiha Gokcen Airport, have once again put Istanbul at the forefront of investor's minds. According to the State Airport Authority, passenger numbers were up by 27.3% last month (January), while the city's other airport, Ataturk Airport, enjoyed an increase of 4.9% during the same period.

When you consider that Istanbul has one of the world's fastest growing economies, with GDP averaging 7.5% per annum over the past five years, it is fairly easy to see why people are making an Istanbul property investment. Turkey itself has emerged from the downturn as strong as any of the so-called BRIC nations, providing the perfect environment for its engine room, Istanbul, to shine.

As business and tourism flocks to Istanbul, the city that a PricewaterhouseCoopers (PwC) survey recently unveiled as the most popular location in Europe for real estate investors, one development that is attracting more and more attention is the Elite Parla Palace.

With its 200 suites of one, two and three-bedrooms, six luxury A+ restaurants and a Terrace Café in the courtyard, many investors are finding value in The Elite Parla Palace because it caters for both the tourist and also the growing number of corporate travelers.

Source: Easier Property