Turkey is a hot spot for property investors these days. Its economy is growing very quickly and not only that, it has a stable, strong economy. It’s no secret; Turkey is booming.
Tourists love to travel to Turkey and the construction industry has taken advantage of this and is thriving. As fast as developers are putting up developments, investors are taking advantage of competent, wise investments.
Europe has countries with strong economies, but Turkey is shining right now. The GDP has grown 10.3 percent in the 2nd quarter and according to the OECD, it is predicted that the entire economy will grow perhaps 6.7 percent within the next 7 years, which is greater than all its neighbours.
Why is Turkey gaining such momentum? Many believe it is their powerful banking and financial system. It is fiscally stable due to the government taking time and great effort to achieve stability. Therefore, investors rest assured that their investments will stand and Turkish buyers are confident when they are ready to purchase a home.
Dominic Strauss-Kahn, who is the director of the International Monetary Fund, states that Turkey is, “the most suitable emerging market candidate for a seat on the IMF executive board.”
Turkey’s property market is booming as well. The Global Property Guide reports that Turkey is ripe for residential property investment as new laws now enable foreigners to purchase land. Hard to believe this country was in such a financial crisis only ten short years ago and now it is one of the fastest growing economies in Europe.
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