In 2013, the cost of new housing in Istanbul, Turkey's megacity, increased by 14.6 %, which is the best figure in Europe, writes ee24.com citing universal21.com.
According to Gyoder, property prices in Istanbul were increasing every month in 2013, fueled by economic growth and falling unemployment. Experts predict that in 2014 price growth won't stop. However, it will be slightly slowed.
Director of Universal21 Adil Yaman says that Istanbul continues to be the most attractive place to invest in Turkey. A slight depreciation of the Turkish lira in 2013 (by 12% against the USD), makes real estate in Turkey even more affordable, so that living there is becoming less expensive.