Posted by meb at February 2nd, 2008

The real estate market’s expansion can be felt the most in Istanbul, Turkey’s most populous city, according to the “Emerging Trends in Real Estate Europe 2007″ report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC.)

Istanbul is the most promising city in terms of real estate growth, according to the report conducted by 400 European real estate specialists. The results of the report regarding the Turkish real estate sector include that Istanbul ranks among the top cities and is the most promising city in terms of growth. Another result is that investments from Europe are flowing toward eastern and central Europe, and Turkey is among the countries watched by investors. Istanbul stood at No. 11 in the report’s risk/yield ranking, climbing up eight places in 2007.

The urban transformation of Istanbul is attracting the attention of European investors. Plans regarding the renewal of the old districts of the city by 2015 and large-scale projects for these plans are being closely observed by Western investors, said the report.

Urban transformation projects are expected to be the most active area of Istanbul’s real estate sector this year, said the report.

Source: Turkish Daily News

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