The real estate sector in Turkey will continue to experience a boom into the near future, an industry expert has predicted.
The real estate sector in Turkey will continue to experience a boom into the near future, an industry expert has predicted.
Following the market slump in 2001, there has been a renewed level of foreign investment and a spokesperson from the Turkish Industrial Development Banks (TSKB) says the country's economic stability will foster further success.
General manager of the real estate evaluation department at TSKB, Cansel Turgut Yazici, said: "Economic development and stability are pulling real estate investors into Turkey.
"Good years lie ahead for our country's real estate market and those who are aware of this are on the right track," she added, according to Turkish Weekly.
British, German and Arab investors are buying shopping centres, offices and quality housing in Istanbul, and Ms Yacizi said she expected foreign interest would spread out from the capital into other tourist regions.
She also stated that a more organised Turkish real estate market is attractive to foreign investors, who are forging good working relationships with domestic service, project, development and finance companies.
Istanbul is the designated European Capital of Culture for 2010.
