Posted on 13 March 2011
Turkey has been highlighted as one of the top choices for global property investors by a leading expert. Speaking at the MIPIM event in Cannes, France, Robert White of Real Capital Analytics told reporters that the BRICs are no longer the top dogs of global property investment, that now the CBPTs, China, Brazil, Poland and Turkey that are reigning supreme.
“In property, we aren’t talking about the BRICs,” White said. “Russia has been very problematic regarding investments due to problems such as corruption. India is problematic due to its restrictions on foreign investments. Thus, it’s really China, Brazil and Eastern Europe – Turkey and Poland in particular – that are shining.”
White highlighted the fact that members of the Association of Foreign Investors in Real Estate (AFIRE) failed to rate any Russian cities in a recent survey. Meanwhile Turkey is “the most frequently queried country” of all emerging markets on the RCA website, said White, adding that most enquiries were for investments in the country’s retail sector.
Finally, White pointed to the massive growth of Real Estate Investment Trusts in Turkey.
“This is what distinguishes Turkey from the rest of Europe; REITs accounted for 40 percent of transactions last year. In Europe, the average figure is 10-12 percent. In the United States, it’s 25 percent and in Asia, it’s around 35 percent,” he said.