Investment opportunities in Istanbul

The appeal of purchasing overseas property in Istanbul is due to increase as the Turkish city moves closer to being crowned European Capital of Culture in 2010, it has been asserted.

An article on online resource Shelter Offshore explains that the country's tourism numbers are on the rise, while a favourable money exchange rate means the pound goes a long way in Turkey.

The piece explains that Istanbul is a world-renowned tourism destination in its own right, with attractions including mosques, palaces and museums tempting people from all over the world.

However, it has also become a centre of business and commerce, drawing "significantly wealthy" individuals to the area.

"Add to this the fact that the city will fulfil a long held ambition and become European Capital of Culture in 2010, and you can of course understand the rapidity with which investment is now being poured into the improvement of aspects of the city," it concludes.