Fed up with astronomic prices in London and Paris, property investors seeking higher yields are eyeing opportunities in emerging markets, according to the founder and president of U.S.-based researcher Real Capital Analytics, or RCA.
Instead of the famous BRIC countries – Brazil, Russia, India and China – the CBTPs, namely China, Brazil, Turkey and Poland, are an emerging force in the property sector, Robert M. White told the Hürriyet Daily News & Economic Review on Tuesday at the International Market for Property Professionals, or MIPIM, an annual property fair in Cannes, France.
"In property, we aren't talking about the BRICs," White said. "Russia has been very problematic regarding investments due to problems such as corruption. India is problematic due to its restrictions on foreign investments. Thus, it's really China, Brazil and Eastern Europe – Turkey and Poland in particular – that are shining."
Regarding Russia, White noted a recent survey among the members of the Association of Foreign Investors in Real Estate, or AFIRE, which did not even put Russian cities in its rankings.
Source: Turkish WeeklyGoogle+