Turkish Property Outpacing the Rest
Loxley McKenzie, managing director of the firm said:
"Turkey is a very unique story of the credit crunch. While it was hit hard by the recession in 2009, because of the strength of the Euro, tourism wasn't as hard hit as many countries and the banking sector was barely affected at all. Further, years of fiscal reform and restraint in Turkey -- paying down national debt, reducing deficits and such like -- gave the government the flexibility to deal effectively with the crisis.
"As a result the Turkish economy has powered out of a year in recession to become one of the fastest growing economies in the world, and the fastest growing economy in Europe and the Organisation for Economic cooperation and development, with 11% growth year on year in the first half of 2010. On top of that, the low rates in Turkey are a long term fiscal response; liquidity is high and property prices still among the lowest in the world."
But most importantly of all according to Colordarcy, is the eradication of much of Turkey's competition, as well the hurdle of EU accession.
During the boom, Turkey was a big hit with holiday home buyers, while investors favoured countries on a more straightforward path towards EU entry. Countries like Estonia and Poland displayed the massive property growth that EU entry brought. This made the next wave of likely entrants; Montenegro and Albania et al, favourites with investors. Meanwhile the unofficial block on Turkey's accession by France and Germany prevented it from reaching its full potential popularity.
Now Turkey is out growing the EU. As emerging markets are set to lead the world in terms of purchasing power parity according to HSBC, Turkey will be a dominant force in the European economy.
The EU grew 2% year on year in Q2, and its fastest growing economy this year, Slovakia grew 5%, the Turkish economy grew 10.3%.
"All this makes Turkey property now a popular choice for investors, adding to its popularity with holiday home buyers to make it one of the most popular countries for overseas property purchases as a whole," said McKenzie.
Colordarcy are currently marketing a property aimed at the increasing number of investment buyers. The Garden City development offers luxury apartments in an upcoming Istanbul suburb, with a 7% rental guarantee for the first year from £46,500. The development is designed with buy to let investors in mind, and it is a solid entry level investment for the Istanbul market.
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide.
Colordarcy Investment Ltd
2 London Wall Buildings
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Turkish Property Outpacing the Rest here
News-ID: 150641 • Views: 1315
More Releases from Colordarcy
Colordarcy Announces Hottest Investment Destinations for 2011
Overseas property specialists Colordarcy has announced its picks for the hottest overseas property investment destinations in 2011. It could be said that they have opted for a couple of surprises. The London-based firm has compiled a detailed PDF report, which can be downloaded using the link below. Loxley McKenzie director of the firm said: "Well, here we are again as another year draws to a close, and the world of overseas
Brazil Top Overseas Property Destination Says Agent
Brazil is currently the most popular country in the world of overseas property in terms of interest, Colordarcy has announced. The London-based overseas property investment consultancy is receiving in excess of 300 enquiries per week, but unfortunately only 30% of the leads qualify because of difficulties in obtaining finance. "We get close to 300 enquiries for property in Brazil each week, but we have to turn 70% away because the lack
More Releases for Turkey
Hair Transplant in Turkey
Istanbul is not only recognised with its world-famous Bosphorus Bridge any more. It is the first city comes to mind in hair transplant operations globally. Moreover, one in every five people in the world travels to Istanbul for medical tourism to undergo a hair transplant procedure. If you surf the internet and use search engines, you will come across with an enormous number of advertisements, clinics, hospitals, doctors and even
Turkey: Country Intelligence Report
"Turkey: Country Intelligence Report", a new Country Intelligence Report by GlobalData, provides an executive-level overview of the telecommunications market in Turkey today, with detailed forecasts of key indicators up to 2022. Published annually, the report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband, mobile and pay-TV segments, as well as a review of key regulatory
Turkey Power Sector Analysis
The power sector in Turkey is a highly evolved and efficient sector, being supported by an extremely favorable and facilitative government policy and regulatory regime. The power sector is divided into three sub-sectors in Turkey, namely the generation, transmission and distribution sectors. The power generation sector in Turkey is fully competent to meet the domestic demand. Furthermore, the country is also capable of supplying electricity to neighboring nations in Europe and
Agrochemicals Market in Turkey
ReportsWorldwide has announced the addition of a new report title Turkey: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Turkey: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Cigarettes in Turkey, 2016
ReportsWorldwide has announced the addition of a new report title Cigarettes in Turkey, 2016 to its growing collection of premium market research reports. "Cigarettes in Turkey, 2016" is an analytical report by GlobalData that provides extensive and highly detailed current and future market trends in the Turkish market. The report offers Market size and structure of the overall and per capita consumption based upon a unique combination of industry research, fieldwork,
Trekking In Turkey – Lycian Way
Turkey is one of the most popular holiday destinations thanks to its beautiful Mediterranean coast with top quality sandy beaches. Not many people know trekking hobbyists also can find entertainment in this amazing country. The Lycian Way, which takes its name from the ancient civilization which once ruled the area, has become one of the world's best known long-distance footpaths. The Sunday Times announced it one of the ten most beautiful