Turkey To Be Top Market In 2011
News Posted On: 08 December 2010
According to experts, Turkey is expected to be one of the most popular overseas investment areas in 2011 as it boasts a strong economy and a good number of tourists. This year alone Turkey's tourism has reached record highs which has boosted the economy as well as the real estate property market.
The construction industry has benefitted as well, growing 21.9 percent in the second quarter of this year. New developments are continually going up and being sold at affordable prices.
The more popular areas are Istanbul and the Aegean and Mediterranean coasts. According to the Turkish General Directorate of Land Registry, approximately 32,000 Britons have already bought property in Turkey and this number is growing steadily.
Investors are eyeing Turkey primarily because of the fact that the past year the economy has been a powerhouse. According to the OECD report, the GDP growth will be 8.2 percent in 2010 and is anticipated to remain above 5 percent for the next couple several years.
Investor confidence is high and a new policy to ease regulations on foreign land purchases is expected to bring even more foreign investors into the property market.
Turkey has not felt the effects of the global recession largely because of its strong banking system. With tourism revenue expected to be approximately 23.8 billion in 2011, Turkey is sure to see investors continue to flock to the area with capital to invest in the hopes of a high rate of return on their investments in the years to come.
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