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Crisis hits Turkish real estate, but ‘green shoots’ emerge

Hürriyet Daily News
'Due to a slowdown in retailer demand, a temporary drops in rents has occurred,' says Kıvanç Erman, capital markets research director of Jones Lang LaSalle.

'Due to a slowdown in retailer demand, a temporary drops in rents has occurred,' says Kıvanç Erman, capital markets research director of Jones Lang LaSalle.


The real estate market in Turkey has been heavily affected by the global crisis in the first half of the year, according to a report by Jones Lang LaSalle. But the report also notes rising consumer confidence and retail sales, the so-called ‘green shoots’ that hint at an improvement in the second half



There has been a visible slowdown in all components of Turkey’s real estate market, including retail, office, logistics and hotels, during the first half of the year, according to a new report from a real estate investment firm.

Revealed by Jones Lang LaSalle on Friday, the report, however, also noted data from the first half of the year showed that consumer confidence and retail turnover have increased.


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