Muddled ownership remains a problem for some older properties in Turkey.
A number of larger, older properties have been converted to two-family homes.
With little room for new building, developers are turning to older properties for condo conversions.
They run from around $400,000, for older properties, to the million-dollar mark for new construction.
Many older properties boast materials or architectural features that make a significant contribution to the local vernacular.
Even with less new inventory, landlords feel the need to upgrade older properties.
Ms. Herman thinks an American would be a likely buyer because Americans appreciate older properties.
"This Old House," one of the network's older properties, is the "Masterpiece Theater" of the home-renovation genre.
In his previous projects, Mr. Schrager has relied on interior designers, most notably Philippe Starck, to transform dowdy older properties.
We have so many older properties and they are going to be around for a long, long time.
What is new is the use of established boutique brands to revive older properties, Mr. McConnell said.
