Turkey Property Boosted by Growing International Presence

Turkey has changed dramatically over the last few decades; it now has one of the best performing economies in the world and has reformed itself into a democracy. The country also has a real presence on the world stage, and its views on the Middle East, the Caucasus, North Africa and the Balkans are listened to and respected. The has obviously led to a massive spike in the popularity of Turkish property.

The Prime Minister, Recep Tayyip Erdogan was recently re-elected for a third consecutive term, the first Turkish Prime Minister to achieve this for more than 50 years. He has the chance to take Turkey even further forward, and to have a real effect on this potentially volatile region.

The fact that the country is mainly Islamic, but also democratic makes it a valuable role model. It has achieved good relations with the United States and Europe, and will hopefully soon join the European Union. Many believe that accession to the EU would be another huge boost to foreign purchases of property in Turkey.

However Turkey really needs the Middle East to stabilise in order for Erdogan to achieve his aim of making the country one of the world’s 10 biggest economies, as it currently 17th. He also faces additional foreign policy challenges in rebuilding relations with Israel, resolving the conflict with Armenia and dealing with the division of Cyprus. There is also the need to deepen Turkish democracy, which means reassuring secular Turks and resolving the Kurdish conflict.

Turkey is planning to write a new constitution within the next couple of years, and this is likely to guarantee freedom of speech, judicial independence, cultural freedom and rights for women. Such a constitution would also help Turkey’s aim of joining the EU. This could also potentially make it easier for foreigners to buy property, because it would bring the military under the authority of civil courts, which could end the need to military approval of foreign purchases.

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Categories: Property Invest / Turkey Property


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