Istanbul anticipated to become Europe’s real estate star in 2012

Istanbul, a giant city challenging world giants such as Moscow, Paris, London, Tokyo, New York and many more, was described as the most promising place for real estate investments in 2012 in a study conducted with hundreds of expert administrators.

It is indeed so as the country has a remarkably strong economic growth (is spite of global crisis) and the city has a young and energetic population hungry for “more”.

Turkish government headed by PM Tayyip Erdoğan is very much aware of the importance Istanbul possesses in terms of its history, resources, cultural accumulation throughout time and young but also energetic population which altogether bring about an enormous power to get this unique town going.

Moreover, it is known to all the PM has a special affection for Istanbul in consideration of the role it has played in the history of the Ottoman. In fact, there are many people who relate plans of the government for relocation of major official offices from Ankara to Istanbul to this special like of the PM (and the rest of the ruling team certainly).When we put all this information together it is not difficult to understand AKP (ruling) would spend its best effort to pull Istanbul to the top of the world in terms of politics and economy.

That is also why the PM has come along with very innovative ideas such as canal project (or 2 new cities) for Istanbul, a short while before the last general elections..It is also why the government is planning to build a third airport with 150 million passengers annually and a third bridge over the Bosphorus.

It is noteworthy to mention the Metropolitan Municipality has also been working full steam and is scheduled to accomplish about over 500 km long rail transportation system by 2015.

As for life and activity in the city, many giant shopping malls have been built recently and the funny thing is when you start thinking “Well, this one might not have good business, cause there are more than enough, already” you are surprised to see each newcomer gets its own business.

To recap, this remarkable and fantastic city with enormous potential for everything is certainly bound to be the biggest star of Europe and probably sooner than expected.

compiled by Editor, BTT