Turkey could provide a 'good' investment opportunity

Turkey looks set to be a good investment prospect, it has been claimed.

The chairman of the country's Real Estate Investing Partners Association (GYODER) spoke at a press conference expressing his belief that the growing population, combined with rapid urbanisation, would lead to a significant increase in demand for housing.

According to GYODER, housing sales already rose 24 per cent during the first nine months of 2009, with 416,000 units being sold.

The figure is expected to continue its ascent in 2010, but according to Turgay Tanes, GYODER's chairman, the effect of the recession is likely to slow the overall growth.

"The real revival in the sector will take place in 2012,"said Mr Tanes.

"With an increasing population and advancing urbanization, the need for housing will rise."

Mr Tanes believes that foreign investment will rise in the coming year, taking the total amount of money coming from abroad to $10 to $12 billion.

Istanbul is the 2010 European City of Culture.

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