Turkish property is beginning to see an upswing

For some time, there has been depreciation in the values of Turkish property due to many factors, including economic issues incurred during its attempt to accede to the European Union. These have held back property investors from buying in Turkey for fear of a further real estate valuation decline. Recently, this has shown signs of Change as the factors which worked against the Turkish economy have started to be reversed.

The issues that Turkey has faced in attempting to join the European Union still exist.Yet with the problems that the EU itself is facing amongst its member states, Turkey, not being a part,has not been seen as such a draw-back. In fact, the issues that some of the member states face have forced investors who might previously invested in properties in Greece, Spain or Portugal to seek alternative opportunities. This is where Turkey is coming into its element as it has a tie of sorts to the EU, giving it credibility without being so tightly bound as the other sovereign debt crises.

The Turkish economy appears to be entering a growth period unlike many of the surrounding areas, which is great news for investors. This growth is being seen as partially being driven by new initiatives by the Turkish government to decrease reliance on imports, chief among which is the growing energy bill the country faces. By tackling this expensive problem head-on, the country’s leaders hope to decrease the country’s deficit and increase investor confidence. This will be augmented by the trade agreements that Turkey has already started to put into place.

As the economy stabilises and investor confidence in the country grows, this will trickle down into various areas of the country. Tourism is starting to see benefits with increased flights to the Middle East. Property in Turkey is starting to show greater value and should show increased returns for investors in the long run.

Source: Buy Association