Posted on 22 September 2011
When it comes to overseas property investment in 2011, we have the good, the bad and the ugly. Well, actually we have the hard hit markets that are now recovering, the hard hit markets that are refusing to recover, the latecomers to the crisis that are still on their descent, and the emerging markets that are completely separate because of their strong growth and fundamentals. Turkey is one of the latter.
Looking around most property markets, you can find a list of cons as long as your arm. But not in Turkey. We have provided the pros and cons for property investment in Turkey below:
- Unemployment is falling rapidly
- Rapid tourism growth
- Rapid export growth
- Rapid economic growth
- Rising Affluence
- Growing mortgage market
- Political Stability
- Stable Currency
- Young population (most below 30)
- Unemployment is still high but falling, now at 9.2%
- The current account and trade deficits because imports are much higher than exports
- A slight problem still cause by the military’s involvement in government
- Speech and press freedoms still lower than the west, but being worked on.
So, as you can see, Turkey has a lot to attract investors, and it is rightly attracting property investors from all around the world. Recent reports show rising demand for prime properties in Spain, Portugal, Greece and Italy, but one must assume this is to investors with a high appetite for risk. For the majority of investors, either with a lower budget or a lower appetite for risk Turkey remains to be a growingly popular choice.