Posted on 25 July 2011
According to the latest report from the Real Estate Investing Partners Association (GYODER) Turkey’s impressive growth in GDP and income per capita is leading to its presenting some of the finest property investment opportunities in the developing world.
The report, titled “Real Estate in Developing Countries and Turkey; Assessments and Prognoses”, looked in detail at the Turkish property market, at its present state, and future projections, and compared its findings with similar research into 17 other developing nations in Europe, Asia, the Middle East and America.
The study found that Turkey is showing similar growth in its real estate sector as the likes of Russia, China, Indonesia, and Brazil, highlighting the housing sector as particularly promising along with the retail, office, industrial and tourism sectors.
The report highlights that, while the Housing Development Administration of Turkey (TOKİ) will be building 500,000 new residences to meet the needs of low income households in the near future, this still leaves a shortfall of 2.4 million units, which will need to be provided by the private sector. This presents fantastic opportunities for investors and developers from around the world.
The news follows the release of GYODER’s house price index for June, which shows that Turkish house prices continue to grow at 6% per year, as they have throughout 2011.