Turkey Property Investment Set For 2011 Increase
News Posted On: 01 December 2010
It's no secret that Turkey’s stable and growing economy has investors taking notice. According to Turkish property expert Steven Worboys, overseas property investors are attracted to this country and will make a rising number of investments in 2011.
Worboys adds that, while some foreign investors have been disappointed in the past with their yields on investments, international real estate continue to be popular; investors have simply learned to be more cautious and do their research on the economy and the anticipated property market growth predictions.
Turkey boasts tremendous economic growth this past year. The GDP is expected to come in at the end of the year at 8% growth according to OECD and predictions are that it will continue to be above 5% for the next couple of years.
According to the experts, the Istanbul Stock Exchange has gained 4.5% in value this year and this has had a positive impact on the real estate market, including new construction, which has experienced “21.9% growth in the second quarter of this year alone.”
Because Turkey's fundamentals are strong, the fact that investors are doing more research is actually benefiting the country.
Whereas before people may not have looked past the problems with EU membership, now they are looking deeper and seeing that Prime Minister Erdogan has paid down the country's debt, and turned Turkey's economy into a stable one with powerful growth prospects.
Because of this, and the fact that Turkey has emerged from recession as one of the strongest growing economies in the world, investment in Turkish property is set to increase throughout 2011.
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