Leading newspaper The Wall Street Journal has recently reported on the excellent economic prospects of a new group of countries: the CIVETS nations.  This group of emerging economies are increasingly catching the eye of investors and attracting significant property investment.

Two of the major nations in the CIVETS group are Turkey and Egypt which both have attractive property markets.

Egypt property market expected to boom

The recent revolution in Egypt has, unsurprisingly, slowed growth prospects although the results of the political upheaval will put the nation on a steadier footing in the long term.

Experts predict that strong growth in Egypt will start as early as next year and the large, young population is expected to drive domestic demand for property.  Prices of property in Egypt have increased this year and there have also been high levels of foreign investment as buyers have been quick to identify the potential of the country’s property market.

Turkey continuing to grow strongly

Turkey’s economy has been growing strongly over recent years thanks to its tourism industry and its central location between Russia, Europe and the Middle East.  For example, the nation hosts strategically important gas pipelines that between Europe and Asia.

Phil Poole of HSBC Global Asset Management said:  “Turkey is a dynamic economy that has trading links with the European Union but without the constraints of the euro-zone or EU membership.”

Turkey is also set to become one of the world’s most visited tourist destinations in the next ten years whilst its economy was the fastest growing in the world during the early part of 2011.  Indeed, it was the only nation in the world to achieve double digit growth and outgrew China by over 2 per cent.

Property prices in Turkey have also risen and are expected to continue to grow in coming years thanks to a strong domestic demand and interest from overseas buyers.

 

Nick Marr

Are you looking to buy property in Egypt ? Al Bahr Al Ahmar , Hurghada , Red Sea , Sharm El Sheikh , Redsea

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Author

  1. avatar
    Nick Marr

    I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.