Istanbul has been the news for being in the list of the 20 most prominent cities that is giving way to the property sponsor, in Europe. But, it seems that a number of risks associated with politics, judicial anguish, impulsiveness, low worth of life, and scarcity of a better plan for the main city are being the reason for weakening the fame of the city. The experts of the Urban Land Institute (ULI) and Price water Cooper (PwC) have said, during the launch about Istanbul, “The most Budding Development in Real Estate 2016,” Reported in Istanbul in the year 2016.
The same report, Istanbul is ranked among the 14th most attractive city in the continent of Europe and further a city that ranked on 28 peers that is best suited for real estate investment, hiking 6 places from the 2015. The same report has recommended that Istanbul may not get able to make a similar jump in the rankings of the year 2017 with the problem raised by the politics.
The first five best ranked places in Europe are Hamburg, Berlin, Dublin, Copenhagen, and Madrid.
But, Istanbul has one profit preferring his side and that is its ever-increasing population, that is somewhere about 15 million, which makes it the largest city in the Emerging Trends Survey. It also possesses a youthful demographic and a real estate stock that waits to be upgraded, as the report says.
An international investor, who is about to go to Turkey said about the risk factor circling the country, “Some political risks are lying in the way and this is making us bit cautious.”
Also told by a local in the same matter, “I think that the situation will be the same in the year 2016 because of the scenario created by the global economy is still uncertain. Turkey suffers uncertainty. It seems that many of these problems will go unresolved.”
Ayşe Hasol Erktin of the ULI Turkey said, “The insufficient residential plan and many judicial, impulsiveness, and clearness is weakening the fame of Istanbul for Foreign Investors.”
Erktin further said, “The weakening of the fame of Istanbul from the list of the last year’s ranking is the result of the Turkey’s recent viewpoint. Turkey, no doubt has a great possibility, but a few problems like low quality of life and transparency matters seem to ruin the investment sector to a great extent.”
She observed that Istanbul was the only city that lacks the implementation of the main city plan.