Categorized | International

Real Estate Market in Turkey Anticipates Strong Gains

Please Share!

The nation of Turkey has established itself as having one of the fastest growing residential real estate markets in the world. Over the last two years, the residential property market in Turkey has increased by more than twenty-five percent. That trend is expected to continue over the next few years, as foreign investors continue to pour money into purchases of Turkish properties.

Turkey has recently been named one of the best residential real estate markets in Europe. Turkey has risen to dominance in the global property market, largely due to the country’s ability to repay nearly all of its debt. Public debt in the country has fallen to just seven billion dollars, or roughly forty percent of the annual gross domestic product.

The Turkish banking system has seen some impressive changes over the last decade, enabling the nation to avoid the massive financial crisis that has crippled the rest of the European continent. The strength of the Turkish banking system has largely benefitted the real estate market, as interest rates have remained low, and there has been little fear of any downturn in the market due to loan defaults.

Furthermore, overall economic strength has contributed to rising employment rates. As a result, the nation is experiencing a population boom, thus contributing to greater demand in the housing market.

Each of these factors has largely played a role in the overall boom of the Turkish real estate market. Foreign interest in both residential and commercial properties has never been higher, and only looks to increase in the coming years.

Please Share!

About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

Leave a Reply

Twitter Chat