Property boom for Turkey predicted
22 January 2009
The next few years will see a new big property boom in Turkey, it has been predicted.
According to the Nour Group, interest in the Turkish property market is intensifying because it is currently averaging 40 per cent returns, while the rest of Europe floats at around five per cent growth.
The company has tipped Istanbul and Antalya as being the two most attractive cities for property investment currently and Istanbul is to be the European City of Culture in 2010.
Residential communities are under development in the city, while new resorts are being created along the southern coast.
The firm has also suggested that property prices have dropped by as much as 50 per cent in the suburbs of Istanbul and some sea-view apartments have experienced a 20 per cent fall in prices.
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