German bank Europhypo highlights Turkey property market
Monday, May 26, 2008
German investment bank Europhypo has highlighted Turkey as a possible option for investors who are seeking to collect good returns. The bank has said that the earning potential from Turkish real estate is at around 6 times the rate it would achieve in Spain in the same period.
The bank has started financing real estate in Turkey last year but has already amassed £376 million in earnings. Hartwig Glatzki of Eurohypo has said that they had a detailed study before entering the Turkish market. In only one year of operations in Turkey the volume of revenues obtained is comparable to a six year period in Spain.
The Turkish Daily News has reported that the bank anticipates strong returns on the market and it is predicting to accumulate £2 billion in the next five years. Mr Glatzki also stated that the south-east European country could potentially experience a property boom in the near future and property experts feel that Turkey could be a "very interesting market" to watch over for the next few years.
Recently ‘The Independent’ has reported that Turkey is becoming popular because its housing markets are growing at a considerable pace. The house prices went up by 20 per cent in 2007, while its property values are rather cheap when compared with the UK.
Social BookmarkingThe bank has started financing real estate in Turkey last year but has already amassed £376 million in earnings. Hartwig Glatzki of Eurohypo has said that they had a detailed study before entering the Turkish market. In only one year of operations in Turkey the volume of revenues obtained is comparable to a six year period in Spain.
The Turkish Daily News has reported that the bank anticipates strong returns on the market and it is predicting to accumulate £2 billion in the next five years. Mr Glatzki also stated that the south-east European country could potentially experience a property boom in the near future and property experts feel that Turkey could be a "very interesting market" to watch over for the next few years.
Recently ‘The Independent’ has reported that Turkey is becoming popular because its housing markets are growing at a considerable pace. The house prices went up by 20 per cent in 2007, while its property values are rather cheap when compared with the UK.
Labels: Market-Trends, Turkish-property
