The Property Boom Is Over – The Next One Is Happening Now In Turkey

Istanbul PropertyBack in 2007 when I worked as an investment analyst for a well-known UK property company, most of my attention was focused on countries like the Czech Republic and Poland. Times have since changed of course and most of the smart investment money is heading out of Europe and into the USA and Turkey.

There is a good reason for this particularly where Turkey is concerned.

Granted the country is having a few minor problems with its neighbour Syria but apart from that the economic performance of Turkey has been one of the few bright spots this past four years.

While the EU struggles to recover Turkey is fast emerging as a new economic superpower.

Unfortunately nobody in their right mind would consider countries like Poland or the Czech Republic or even the major cities in those countries that once provided fertile ground for property investors seeking strong rental returns and double digit capital growth.

The cranes have all but left the large East European cities and so have many foreign investors driven away by static rents and falling property prices.

In my opinion, the only places worth investing in the EU now are London and possibly Berlin, while Spain provides a unique opportunity to take advantage of heavy discounts and good long term growth prospects.

Beyond the EU however there is an altogether different story.

Turkey and, more specifically, Istanbul, is in the midst of a major property boom that remains firmly in its expansion phase.

As a property analyst, I was always taught to look at the performance of the economy, infrastructure improvements happening in a given location and of course the number of jobs being created in those areas.

In these respects investors will find that Turkey and certainly Istanbul ticks all of these boxes.

Another important reason for this latest property boom is the ease with which investors can now buy property.

The Turkey property boom is similar to the property boom in Eastern Europe a decade ago in that the doors have finally been pushed open to foreign investment.

183 more countries can now invest and more importantly the list now includes most of the Arab states. As a result of this Turkey is expecting $300 billion worth of property to be sold to foreign nationals in the next 10 years.


One important difference between Turkey’s property boom and that which occurred in Eastern Europe is the significant rise in its population. Turkey has the fastest growing population in Europe, which is expected to rise from 77.8 million to 83 million by 2023.


Property booms as we know will not last forever, however for those prepared to enter a market at the right time, return on investment can be spectacular.


Which direction do you expect European property prices to go in the next 12 months? Please leave your comments below:


Kind Regards


Brett Tudor
Property Expert


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Categories: Property Invest / Turkey Property


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