Turkey is flavour of the year for property pundits. The latest report to praise its economy, government and property market comes from the Global Property Guide.
Citing its rapid economic recovery following the credit crunch, the financial prudence of its government and its booming tourism industry The Global Property Guide website states enthusiastically “We believe Turkey offers an exceptional opportunity for property investors” in its report, Turkey: Europe's Best Residential Property Investment?.
Some encouraging stats: GDP is forecast to grow 5 per cent in 2010, inflation is 5.7 per cent, its lowest level in 39 years, and interest rates are down to 10 per cent – they were 60 per cent seven years ago. Turkey's liberalised mortgage market is expanding, so that could help raise property values, and, unlike some other places in the world, banks are keen to lend.
Much focus is on Turkey's commercial hub, Istanbul, where rental yields reach 6.35 per cent for 75 metre-square flats in Bakirkoy district. International designer developer, yoo, has launched its first apartment scheme (pictured above) in the city.
http://globalpropertynews.blogspot.com
really a good tactic to work.
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Thanks very much John. Happy New Year to you and everyone else who gives up time to read this blog.
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