Turkey Seems to Have Everything Going for it Right Now

Turkey just seems to have everything going for it right now. We make this statement as looking at Turkey as a destination for overseas property buyers.

Tourism is rising rapidly, the economy is one of the fastest growing in the world, the banking system is among the strongest in the world, liquidity is high, and it has an impressive fiscal make up.

Turkey has been making reforms for many years, and these were intensified during the current government. Turkey was shaping up into a country with great potential during the boom, and since a unique set of circumstances has ironically benefited Turkey, its economy and its property market.

The first has to be the strength of the euro against the pound in 2009. This greatly boosted Turkish tourism as Brits were forced to look outside the eurozone for cheap and/or high value holidays. It also made property more expensive in eurozone countries, increasing the appeal of Turkey’s low property prices and highlighting the value for money on offer in Turkey.

Since Turkey came out of recession in the fourth quarter of 2009 with a growth of over 6% the appeal of Turkey property has increased further still. This of course helped by the sluggish growth being seen across Europe, compared to the double digit growth of Turkey.

Turkey was previously dominated by lifestyle buyers, with investors put off by its difficult road to EU membership. This is no longer the case, with Turkey outpacing the EU in terms of growth, with a better fiscal state than its competitors, and higher liquidity for mortgage lending, EU membership is no longer such an issue for investors in Turkish property.

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Categories: Property Invest / Turkey Property


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