(PRWEB UK) 23 December 2012
Analysts at Colordarcy have assessed that Istanbul is now at the beginning of a new expansion phase in terms of property price growth.
Loxley McKenzie, Managing Director of Colordarcy commented, “Much is made of the growth of property prices in Turkey. At the heart of all this, however, is the powerhouse city of Istanbul.
The city has proved to be extremely popular this year and in our own experience, enquiries for property in Istanbul have increased by 25% this year. This year’s change in the reciprocity law has certainly helped.”
According to analysts at Colordarcy, Turkey cannot simply be seen as a whole, there are still good and bad places to invest, even in Istanbul. The important thing from the point of view of an investor is to choose developments wisely.
In a booming market like Istanbul, there will be some developers who aim to take advantage and sacrifice quality for quantity.
McKenzie added, “Investors should be looking more at the key-ready end of the market, so that they can make a guaranteed return on their investment. It is also important that developments are good quality and built with potential middle class tenants in mind.”
Colordarcy highlight that The Financial Times placed Turkey in its top ten of investment locations in 2012 and the country needs half-a-million new housing units by 2015, half of which are needed in Istanbul.
Despite double-digit growth in 2012, Colordarcy analysts point out that property remains very affordable. Inci Palas a development of 48 luxury, one, two and three-bed apartments in Istanbul is set to be key ready in January 2012. The starting price is just £44,000 / $69,150.
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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