According to Today's Zaman, many foreign property buyers in Turkey want to "wake up to views of the Bosporus and live in a city half as old as time", as well as making a good investment. Istanbul offers a number of attractive inducements for overseas property buyers, including a strong tourist trade that is driving rental demand. There are many bargain properties available in the city now due to the various global economic problems have triggered a downturn in the housing market. This means that overseas property buyers could find now a good time to snap up a residence which may previously have been unaffordable.

The city has seen a "massive boom" in its economic prosperity following the currency collapse in 2001. Hotproperty.co.uk cited a recent report by PricewaterhouseCoopers and the Urban Land Institute and reported that investors in the region have seen a 42 per cent growth on their properties since February 2007. Despite the falling prices now, ready financing available for would-be property buyers and bargain properties has increased its attractiveness to buyers. However, The Times has adviced buyers to choose their areas carefully in the huge city. The publication added that Beyoglu and Galata will attract those looking for "an exotic, lively city bolt-hole" and villas on the banks of the Bosphorus would be suitable For those with a substantial amount to invest.

This comes after Australian newspaper the Sunday Times described wide range of attractions and "vibrant" culture has made it very popular with leisure travellers.

Labels: Istanbul, Life-style