Turkey is attracting strong investor interest and with increased availability of market data and greater clarity in transaction processes the country once again tops the global rank.
Confidence in the Istanbul property market is increasing and a 6% growth in the Turkish economy is expected to boost interest, it is claimed.
Turkey’s impressive GDP increase per year has been more than 5% over the recent years and exceeded the forecasts.
Figures also shows that the population of Istanbul is increasing faster than many countries and this is one of the key drivers behind the booming property market due to demand for quality accommodation from the vast numbers of migrants to Turkey’s second city.
A fundamentally stable banking system, low levels of private sector leverage and attractive demographic conditions ensures a robust economic advance in Turkey. It outperforms other economies in central and Eastern Europe significantly and is well positioned to grow further.
Istanbul property market goes from strength to strength. Demand for quality investment properties remains very high with our early entry investors already seeing more than 30% capital growth which is certainly unprecedented in today’s marketplace.
Turkish Prime Realty
Turkish Prime Realty Blog
Investing Istanbul
Investing Turkish Property Market
But interest is increasing on other parts of the country especially among those seeking holiday homes and rental opportunities. Environmentally friendly projects are offering another possibility.
The 2012 release of the GYODER index shows house prices in the country grew 12.57% on the year in June, following a 12.16% year on year growth in May and 11.93% in April.
This shows an acceleration of growth, which is a pronounced change in trend from the previous six months when year on year growth averaged about 10%.
Although a slow down on economic growth is expected, the economy is still growing and so is tourism and the population, all of which continues to support growing demand for property to rent and buy, hence the escalating growth in property prices.
In the last UN Wortd Tourism Organisation charts, Turkey was the only country to improve its position, climbing to 6th on the chart with 29.7 million visitors in 2011. Tourism continues to grow, according to the tourism ministry visitor numbers were up 2.7% year on year in June.
Despite the continued steady price growth, Turkish property is still among the cheapest in Europe and the world, which makes it very attractive for investors.
This combination of economic growth supporting the residential rental market and tourism growth supporting the holiday rental market, means that there is something for everyone in the Turkish property market.
Turkish Prime Realty
Turkish Prime Realty Blog
Investing Istanbul
Investing Turkish Property Market
