ECONOMY

Istanbul tops property list while Athens sits near bottom

Istanbul is the best place in Europe to buy or develop property as Turkey?s economic growth contrasts with declines across much of the region, according to a survey of 27 European cities completed by PricewaterhouseCoopers.

?Both local and international investors have become more positive about Istanbul since last year,? the survey released on Friday said.

?It is also worth noting that interest in Istanbul as a destination for investing in industrial property has risen,? it added.

Istanbul was followed by London and Munich.

At the other end of the scale, Athens came in second to last in position number 26, followed by Dublin.

?[In Athens] local respondents are universally gloomy, almost all suggesting that 2011 will be worse than 2010,? the report said.