Istanbul is currently one of the hottest places for buy to let investment in the world. The population is huge and growing so rapidly in numbers and affluence, that developers simply can't build fast enough to meet the demand for quality property to buy and rent.
But it is also said that Istanbul is an excellent holiday home investment destination, but figures are much harder to come by in support of this. Or, at least they were. The Istanbul Culture and Tourism department has just released data in English showing that Istanbul welcomed some 8 million foreign visitors during 2011.
This represents a 16% growth over 2010 according to the body. Like the national market Germans were the biggest demograph, followed by Russian, American, Italian, and French tourists. The fact that Britain is not among the top markets (unlike in the national data where it is top 3) is indicative of the fact that Brits prefer the seaside resort towns on the Med etc.
"Despite the financial crisis in Europe and political turmoil in the Middle East, Istanbul has had a successful year in tourism terms. A 16 percent increase in foreign visitors is a remarkable success in view of the circumstances," said the Istanbul Culture and Tourism Director, Emre Bilgili.
Turkey ranked 7th among the world’s most popular destinations with over 30 million tourists visiting the country in 2011.