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Gauging the Investment Potential of International Real Estate Markets

Turkey’s per capita GDP is catching up and in purchasing power parity had reached 30% of the EU-27 average in 2006. The distribution of this income is very broad, both across households and across regions. The average household income in the city of Trabzon in the north-east of Turkey was only 30% of the country average (2003) whereas incomes in Ankara and Istanbul were 65% and 85% higher than the average. The specialisation of the big cities on the service sector and the shift to the fringes of these agglomerations by manufacturing industries is set to change migration patterns