Turkish Property Investment has remained ever popular. Only as recently as the 1980’s did the Turkish governement begin to reform the strict controls that had been in place. Although this generated huge growth, hiccups did occur, notably in 1994, 1999 and 2001, averaging out the GDP growth to 4%. However, Kemal Dervis, finance minister at 2001, inplemented a number of key reforms that brought inflation into single digit growth, sending investor confidence and employment levels upwards

 

“Commitment to sound economic policies since 2001 has placed the Turkish economy in a good position to embark on a sustained path of faster growth.” World Bank

Among many other things, 2007 will be remembered for the ‘Credit Crunch’. Lending policies in the US have caused a global ripple of credit becoming less readily available, including in Europe. However, the World Bank predicts three areas which will defy this; Albania, Hungary and Turkey.

Further more, there is the distinct possibility that as investors, both private and institutional move funds away from US because of its problems, the funds will end up “somewhere in the developing world and that mechanism could create new bubbles or expand bubbles already in the making”, Hans Timmer, co author of the banks annual report.

Key facts

• Unique Geographical Location Strong ties with Caucasus and Central Asia
• A strong international investment record A fast developing economy
• A huge domestic market Highly-skilled, competitive labour
• High quality standards The gateway of energy resources
• A state-of-the-art telecommunications network Strong ties with Caucasus and Central Asia

source: Turkish Embassy Website – Office of the First Economic Counsellor