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Article: Western Europe: Turkey - Investment Windows - Turkey's Young Population Is Driving The Skyrocketing Demand For Housing. Metin Demirsar Reports On The Projects That Offer Opportunities For Investors.
- Article from:
- The Banker
- Article date:
- September 1, 2006
CopyrightCOPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: METIN DEMIRSAR
Demand for public housing is continuing in Turkey's urban centres, particularly in Istanbul, its largest city, because of an influx of rural migrants displaced from the countryside, rising income levels among metropolitan residents and a booming young population, despite the present turbulence in the economy.
"Six million housing units need to be built by 2012 to keep up with the demand," says Feyzullah Yetgin, general manager of Emlak Konut REIT, the state real estate investment company.
Turkey has a young population - 50% are under the age of 25 - and 800,000 couples get married every year and want homes, says Mr Yetgin. ...