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Turkey Property Investment News
Investment in Turkey booms
Foreign investors are being drawn to Turkey by its stable economy, according to market experts.
An increased availability of low-cost flights and the capture of the European Capital of Culture 2010 title have been predicted to lead to a 50 per cent rise in property prices.
Though Turkey is not a member of the European Union, the awarding of the title was allegedly based on hopes that Turkey could serve as a doorway between Europe and Asia.
Speaking to Turkish Weekly, Cansel Turgut Yazici of the Turkish Industrial Development Banks, said that "good years lie ahead" for the property market.
"Economic development and stability are pulling real estate investors into Turkey," she added.
The report follows the findings of a recent survey from German market research company GfK Turkiye, which revealed that 77 per cent of investors considered inflation in Turkey to be under control, while 59 per cent said they had faith in the economic management skills of the Turkish government.
With tourism revenue due to increase thanks to its Capital of Culture status, this could be a perfect time to invest in an improving economy.
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