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Turkish real estate market covered in the New York Times

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The New York Times covers real estate sector in Turkey

The long awaited reciprocity law which was passed through Turkish Parliament and the resulting flurry of activity in the real estate market were widely covered by The New York Times in an article entitled “House Hunting in Turkey.”

Stating that the residents from more than 110 countries can buy property in Turkey, the article says that many new prospective buyers are from the Middle Eastern countries.

“Turkey is experiencing a construction boom, strong economic growth, increased consumption, and rapid urban population growth. At the same time there is increased consumer borrowing and buying on credit,” the article says, adding that “lower-end properties on the Bodrum Peninsula are selling for a half to a third of their prices before the global economic downturn, while the high-end market is robust.”

The article also says that purchasers in the Bodrum area mostly consist of Turks, along with buyers from France, Belgium, Holland and, more recently, Russia and countries like Azerbaijan.

23.08.2012
SOURCE: DUNYA.COM

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