Eastern European Property still keen on Turkey

11th Sep 2009 12:06

Eastern European Property Fund posted a fall in net asset value in the six months to June 30 as property prices fell in its target markets.Its net asset value fell by 17% to £20.4m over the six month period.During the period, the firm bought one small property in Turkey and continued to refurbish its portfolio in the country. The firm reaffirmed its belief that, due to the better financial and political stability in Turkey than in Romania or Bulgaria, the resources are best employed investing there.'The group's strategy is to consolidate and to build on the current portfolio in Istanbul and to purchase additional properties in Istanbul as suitable opportunities arise,' it said.