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
Vicious competition and a saturated marketplace have made life tough for Saudi Arabia’s third mobile operator, Zain KSA. But the appointment last year of one of the kingdom’s top telecoms figures, Sheikh Farhan Al Faisal Al Jarbaa, has helped the firm turn its fortunes around.