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nternational property fund manager Cordea Savills has announced the launch of its Turkish opportunistic fund, which will invest in residential property and other development opportunities with a target return of 20% per annum.
Knight Frank has already predicted forecast considerable growth, with property price increases of between 10 and 15% expected for 2008. The Turkish market is characterized by Cordea Savills as having low supply, high demand and attractive returns. Current government estimates state that up to 650,000 new homes are required per year to satisfy forecasted population growth and increased internal migration from rural to urban areas.
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