Real estate professionals say Istanbul is the tops for investment

Posted on 02 February 2012

Istanbul, 2 February 2012 – For the second year running a survey conducted by PwC (PricewaterhouseCoopers) and the Urban Land Institute has placed Istanbul as the top European city to invest in commenting “Turkey’s appeal is based on a long-term view of the future”. 600 European real estate professional were surveyed and selected Istanbul as number one for development and investment potential citing its strong economic growth, a young and growing population which is leading to rising consumer spending which in turn is feeding through into retail development. The survey also cited Berlin, Stockholm, Warsaw and Munich in the top five with Istanbul, London however slipped to 10th position from 2nd place. The survey also believes the real estate sector will suffer in 2012 as banks tackle regulatory issues and are not lending the freed up capital released through deleveraging. The author of the report Mr John Forbes, a PwC partner said “Debt will be the main story of 2012. There is general pessimism regarding the availability of debt this year, and significantly, lenders are the gloomiest of all”. Source Today’s Zaman

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