Real estate in Turkey is hoping to receive a boost in the near future, after members of the Association of Real Estate Investment Trusts made a presentation to bankers, asset managers, real estate brokers and investors.

The association is hoping for as much as $10 billion (approx £6.2 billion) to invest in the sector and will be holding similar meetings in Qatar, Singapore and Malaysia, Bloomberg reported.

This comes after the country relaxed rules on foreign ownership. In May a rule that banned citizens of countries where Turks are unable to buy real estate from buying property was abolished.

Citizens from 180 previously unable to purchase real estate in the country can now do so.

With the government planning to rebuild 7.5 million houses levelled in the 1999 earthquake in western Marmara, Turkey is now a country full of opportunity.

The nation is also experiencing a period of economic growth, the Global Property Guide reported, creating very favourable conditions.



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