Istanbul becomes prominent in Europe on development and investment

According to a report, Turkey, with its economic growth shining amongst others in Europe which has been suffering an economic crisis, is leaving Europe behind in real estate sector. In a report entitled "Emerging Trends in Real Estate Europe 2012" which was jointly prepared by tax and consultancy company PwC and Urban Land Institute (ULI), Istanbul outscored the European cities by ranking first in three categories, namely development predictions, current investment performance and new real estate investments. While other European cities remained in the background, Istanbul became the only investment option for investors. According to the report which was prepared as a result of interviews with more than 600 real estate professionals in Europe and a survey study, Istanbul ranked the first in areas of investment and development thanks to its strong economic growth opportunities, as well as demographic qualities with a young and growing population.