Turkey is expected to be the fastest growing economy in the OECD by 2017, with an annual average GDP growth rate of 6.71 percent. A revision to Turkish property law announced in May 2012 enables the citizens of 183 nations to own property in Turkey now, opening the market towards cash-rich investors from Russia and the Gulf states for the first time.
Istanbul’s housing market saw price growth of 17.75 percent in September 2012 year-on-year and rental increases of 15.2 percent for the same period.
Highlighted by the economic growth and relaxed investment regulations, the Istanbul market outlook is bright.
Source: IP Global Property Barometer
After a decade as director-general of the Dubai Land Department, Sultan Butti Bin Mejren says he is acting fast to improve regulation of the real estate industry and ensure it remains a thriving part of the emirate’s economy. He explains why he is adamant investors will keep coming.