Turkey to become centre for education, art and commerce

Real estate in Turkey is set to receive a further boost after news emerged that plans were underway to transform the cities of Istanbul and Ankara into leading education, art and commerce destinations.

According to a report by Turkish newspaper Today's Zaman, the country is looking to establish itself as a leading authority on the subjects in the hope of attracting more foreign and local property purchasers.

Metin Guvener, CEO of London-based Property Dimensions, told the paper: "If you look at large conglomerates in Turkey today, they are starting to provide these acquisition services.

"They are attempting to capture this new market because universities are better, art is better and cultural activities have become more widespread, exemplified by Istanbul becoming the European Capital of Culture this year."

However, Mr Guvener warned that current legal requirements present difficulties for individuals looking to buy property in the country.

Another Turkish city which is looking like a good investment prospect is Bodrum, as three low-cost airlines have all announced plans to increase the number of flights to the region.

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