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Properties in Turkey Heating Up

Turkey is emerging with economic strength as its property market attrcats overseas property buyers as a result the Turkish construction sector posted a 21.9 per cent growth in the second quarter of 2010. David Walker, Vice Chairman (UK) of the Board for the Turkish British Chamber of Commerce and Industry says, "The opinions from those at the heart of the construction sector in Turkey, are very positive and there is a great sense of self belief in Turkey and its economic outlook for the country post global downturn.

"I have to say I personally believe this has always been the case; optimism has remained high in Turkey and this, coupled with hard work and the steady decline in unemployment, has meant that this faith has translated internationally.

"We are seeing greater numbers of Europeans seeking to invest in Turkey's growing economy and property is one of the most popular means of doing so, offering twofold benefits for purchasers - an investment into a growth market and a tangible asset that buyers can enjoy personally too."

According to the Turkish General Directorate of Land registry, over 32,000 Brits are now reported to own property in the country. Whilst the Mediterranean and Aegean coastal resorts have attracted a steady number of buyers, it is the current European Capital of Culture, Istanbul, which is attracting many investors.

Julian Walker, Managing Director of Spot Blue says, "Istanbul offers an excellent investment opportunity, attracting an increasing domestic market looking for property rentals as well as international visitors. These factors combined with the Turkish economic growth means that developers are struggling to meet demand from buyers.” 

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