Our first overseas deal of the year and our first since taking over at Property Secrets had to be a solid opportunity that we really believe in. After months of negotiating and monitoring the progress of markets across Europe, we decided on a country and city very much on the up.

Turkey is among the top 10 investment locations in the world today, with the 15th largest economy in the world and the 6th largest European economy it is expected to become a full member of the EU within the next 10 years. With an estimated 30 million tourists in 2010 it is the third highest portal search on the internet for property. With capital growth 15% to 25% per annum and rental yields 7.5% to 10% per annum, investing in the country looks a good bet for a positive return whether it be a short or long term purchase.

Istanbul itself is one of the largest ities in the world and the number one city in Europe for capital growth with forecasts in excess of 15-20% per annum.With a current population of 15 million and increasing by approximately 250,000 a year there is an anticipated 500,000 new buyers annually for both residential and commercial property in the city which has over 60% of its population under the age of 30. The city is capital of culture for 2010 attracting over 8 million tourists to the Bosphorus Strait.

Below is a little research that we have done since monitoring the countries progress over the last few months:

Date: 27/11/2009