Wednesday, 9 January 2013

Is 2013 This Year The Optimum Time To Invest In Turkish Property

Turkey now has undergone a period of strong government since the "Erdogan AKP" party government was elected in 2002 The location has been in a sustained period of social and business reform A strengthening of the banking system has resulted in an enlarged international bank market place which in tango with the ruling party has been enacting more fiscally responsible policies This is evident in the private sector and by government paying down cash owed which has provided the enviroment of consistency and belief. This commenced and was accelerated during the boom At that moment in time there were numerous other stars in the property market that have since passed. Lessened prospects of the areas that were once as attractive due to much less complicated path to EU accession and all the economic benefits and thus property market boosts that once went hand in hand.
That seems now to be history and many would contend that being tied to the EU is a shackle now
So Now, the EU is a shadow of its former self and Turkey is reported as one of the swiftest growing economies in the world. Other rivalling destinations seem now to have costs due to the EU and recession, there are only a handful of destinations in Areas worth put money into in and Turkey is certainly one of them.
It is in a period that still gives great value for money with a young population that is aspirational and compromising the advantages of a growing economy. Maybe it is wise to look at areas that do not have an oversupply but in the conurbations that have a supply lag and can generate higher rental yields. Such As Istanbul Izmir and other emerging cities that have large educational facilities.
In Turkish holidays the year 2008 hit 26 million visitors, up 3 million from 2007 and has risen each year on year, In the seven years 2002-2009 Turkish GDP development averaged 6.17% per year. In these same time frames the Turkish government had been reducing public debt and bringing down and stabilizing inflation.
This growth is starting to give a different trading market there has been recent limitations but it has growth that is the envy of many other economies Infrastructure spending makes specific area changes like new airports and roads.
In summation this may be the best year to invest. The prices in some areas are still influenced by world slowdown but in other areas fuelled by new cash rich investors such as Russians and Arabic states that find the Muslim based culture attractive.
The Turkish Property market still seems very attractive maybe not so much in the old-school sense maybe it is best to look at the evolution of the country as a whole it has massive tourism attributes but that is not all and maybe if a grouping of goals could be achieved with an investment that would represent a decent wager.