Turkey to 'benefit from commercial property investment'
Investors looking to move away from residential property markets following the problems affecting the US sector are increasingly turning to commercial property, according to one expert.
John Kriz, managing director for real estate finance at Moody's, told the Turkish Daily News that institutional investors are searching for "new targets" following the "crisis" seen in some markets last month.
Istanbul, boasting new office buildings and retail opportunities, is one area that could benefit from such a trend, Mr Kriz told the newspaper.
Additionally, the expert predicted that real estate investment trusts (Reits) would also become increasingly popular among investors.
"You need to invest in real estate while the economy diversifies. Reits are a good solution to finance these investments," he stated.
Meanwhile, Turkey's foreign minister Ali Babacan said ahead of a meeting with ministers from the EU that the country's reforms would lead to it becoming perceived "as an asset" to the union, AFP reports.
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