While London is the #2 most visited city in the world while Istanbul is #9 , according to Euromonitor’s annual Top 100 City Destinations survey. However, house prices are NOT similar at all in both cities. Quite the opposite.

London is one of the most expensive cities

According to a study conducted by Halifax, “one square meter of property in Kensington and Chelsea costs £11,635 (US$ 16,596 per square meter)“.

Istanbul is cheap, and has potential for growth

Istanbul was ranked by Barnes as the n°1 city with the highest potential. Indeed, prices are currently low and expected to rise steadily in the coming years, from the current € 1,020 (US$ 1,162) per square meter (Barnes report).

What can you buy for €200,000 in London, and in Istanbul?

Better yet, for € 200,000 (US$ 227,910) you can get :

  • 18 square meters in London, England
  • 200 square meters in Istanbul, Turkey

Either to hold it while Turkey grows, or to rent it out to the near 12 million tourists (according to the annual MasterCard Global Destinations Cities Index)  expected per year in Istanbul, investing in Istanbul property market could be just a good pick for 2016.

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