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Turkey: A Good place to invest in property - 20 July 2010

Turkey has been called Europe’s ‘shining star’ in July’s edition of Money Week. It is not certain whether they should call it Europe’s star because Turkish foreign policy is tending to be pulling more towards the East; however the economic performance is most definitely stellar. Year-on-year real GDP growth is 11.4% and government debt is only 49% of GDP income. That is a position that most European countries would love to be in.

Turkey is a democracy and is ranked one of the easiest places to do business, amongst the Islamic lead states. Small to medium sized companies in Turkey are being opened at a far better rate than in Europe. It appears that there are still lots of opportunities to motivated entrepreneurs, particularly in the construction industry (which has a 9% growth from 2009), al well as the textile and food industries which exported a volume of $12 billion to Syria and Iran this year alone.

Turkey could be a good place to invest in property because of the impressive Economic growth and a young population; which is of benefit because there are more people of a working age and a reduced drain on resources with less people claiming pension. 70% of the Turkish population is under 35 years of age and the good news is that 25% is under the age of 15 which means that this trend will continue in years to come. The future certainly looks bright for a Turkey!

Graham Flaherty
Property Sourcing & Marketing
www.propertymarket-investment.co.uk

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