The attraction of Turkey from a property investor’s perspective just got even better. In October 2005 when Turkey agreed to enter into talks with the European Union towards the country’s EU membership, the Crown Prince of Dubai immediately invested five billion US dollars into Turkey’s real estate sector giving overseas investors a boost of confidence in the country.
Many second and holiday home owners and retirees had already begun to explore the delights of Turkey particularly along the country’s southern coastline, but now focus has broadened and appeal for property in Turkey is expanding countrywide.
Over the past ten years Turkey has undertaken many major reforms designed to align the country with her European neighbours and form strong economic links and business relationships with the West whilst retaining an important bond with the Middle East. The reforms have been successful and have resulted in Turkey beginning talks with the EU.
The future prospects for Turkey and its economy are therefore very positive indeed over the medium to long term making the country an exciting investment opportunity for the buyer seeking significant returns over the same term period.
The reforms have also resulted in Turkey achieving a growing worldwide appeal and the country has become a hot tourist destination with the majority of visitors either attracted to the vibrant city of Istanbul or the long meandering and inimitably beautiful Mediterranean coastline.
Both of these areas of Turkey now have strong returning and highly attractive real estate sectors which are already of interest to many foreign investors.
Turkey also enjoys a strong and dynamic, multidimensional economy that embraces modern market forces whilst retaining a large and traditional agriculture sector.
One of the fundamental keys to Turkey’s successful transition to full EU membership is its ability to attract and retain FDI. It has set itself a target of attracting 1.2 trillion dollars from Gulf States initially and therefore the Crown Prince of Dubai’s immediate financial commitment to the country’s real estate sector not only gave property investors faith in Turkey it gave other nations faith in the country as a whole and should lead to the further promotion of Turkey and an increasing flow of foreign direct investment.
This also means that property investors who commit to Turkey can have confidence in their welcome and acceptance.
