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Positive Data Increases Popularity Of Turkish Property

News Posted On: 03 November 2010

You would need to be living in a cave not to notice the groundswell of positive data coming out of Turkey, its economy and its property market. So of course, investors are definitely not missing it, and Turkey is becoming a very popular investment choice.

The Turkish economy is not only outgrowing the EU or growing twice as fast as its fastest growing economy (Slovakia), but it is one of the fastest growing economies in the world.

The latest news is that Turkish exports increased by a further 5.5% year on year in September, to 8 950 Million USD. During the same period imports increased by 25,3% and reached to 15 650 Million Dollars compared with September 2009.

This of course is on top of the incredible 11.7% year on year GDP growth recorded in Q1 and followed by an equally incredible 10.3% growth in the second quarter.

The growth is great, but in the current climate confidence is more important, this is also building behind Turkish property, because of the government's reputation for fiscal management, and the currently solid economy that it has given birth to.

This confidence will have been boosted massively by the head of the International Monetary Fund stating that Turkey is the most suitable emerging market candidate for a seat on its executive board.

After complimenting the EU for giving up two of its seats to emerging markets, Dominic Strauss-Kahn, IMF managing director said:

"I think Turkey is the most suitable candidate for a post on the executive board", said Kahn, and he views were shared by many according to sources.

The IMF head went on to assess Turkey’s recent economic performance, highlighting the 7.5-8 percent growth. "I think the government is managing the economy very well", he said.

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