Turkey attracts foreign investors
Emerging property markets such as Turkey are becoming more and more popular with overseas investors, according to a new report.
Research by the Urban Land Institute and PricewaterhouseCoopers (PwC) identified Istanbul as one of the fastest growing markets in Europe.
The city was rated as one of the continent's top five investment spots, placing it ahead of major locations such as London and Paris.
Speaking to Bloomberg, John Forbes of PwC said there is an "increasing appetite" to invest in emerging markets.
He commented: "Russia and Turkey are regarded in the same way as the India of Europe - they are top for economic growth.''
According to the Today's Zaman newspaper, Istanbul is currently aiming to become the European Capital of Culture in 2010.
If the government is successful with its bid, this is likely to lead to further economic growth and foreign interest throughout the next few years.
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