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Turkey "looking very good"
Though investment property in Turkey is "very under-developed" compared to established markets in Cyprus and Spain, its prospects are encouraging, according to one property consultant.
Colin Mansell, marketing director of Atlas International, said that Turkish development projects could be divided into two distinct strands.
"The big out-of-town developments will continue as Turkey is very under-developed compared to some areas such as Cyprus and Spain," he commented.
"Turkey is just getting up to speed in development quality and it is very high now.
"But I think the smaller towns have been there for hundreds of years and it is very difficult for a big developer to go in and make any reasonable money because of the amount of space available so they are two separate things; the out-of-town developments - when they put up a couple of hundred units or one thousand units - and this is a separate thing to what is happening in the smaller towns."
In terms of the prospects for investors, he added: "It is a very good idea - prices are very low, they are very keen to join the EU - it is part of Europe, much more so than any other country in the middle-east that has a strong Muslim presence. I'd say it's looking very good."
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