Overseas buyers attracted to Istanbul
A growing number of property investors are being drawn to Turkey by its historic and cosmopolitan capital, Istanbul.
This is according to Turkish news provider Today's Zaman, which claims that 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.
While the expense of property in Istanbul may previously have prevented some buyers from entering the market, the economic slowdown has recently pushed prices down, creating bargains in desirable locations.
"The global financial crisis has curtailed much of the buying and brought bargains in its wake," Today's Zaman states.
Jo Malcolm, a Scottish woman who recently moved to Istanbul from Italy, told the newspaper that she was attracted to the city by its rich and diverse cultural life.
"Inside one square kilometre you can enter so many different worlds, from an Italian film series to a reggae bar to a seminar on Middle East politics," she explained.
According to recent figures from the Turkish tourism board, the number of British visitors to Istanbul increased by 18% during 2008.
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