Istanbul earmarked as investment opportunity for new property acquisitions

Istanbul has been named the top city in Europe for new property acquisitions and development in 2011 by a new report, as it is less likely to be affected by the economic problems affecting the rest of the continent.

For the second year in a row the annual Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute puts Turkey’s largest city at the top of its chart for development prospects.

Istanbul is ranked above London, in second place, and Munich in third place. Istanbul is also placed second in the report’s existing property performance table, behind Munich but above London and Paris, in third and fourth place respectively.

The report says that currently, the biggest issue is to find attractive assets to invest in as well as good new investments, especially core assets in top locations with strong tenants.

Source: PropertyCommunity.com