Property prices in Turkey boosted by huge growth in construction industry

  • 14 years ago
  • Uncategorized
Recent figures have shown that the country has the third fastest growing economy in the world with the construction sector driving Turkey’s booming economic growth.
Construction industry in Turkey is thriving
The Turkish Statistics Institute figures show that the Turkish construction sector grew by a staggering 21.9 per cent in the second quarter of 2010. The economy as a whole grew by 10.3 per cent, making it the world’s third fastest growing economy behind Singapore and Taiwan.
According to the Turkish General Directorate of Land Registry, 32,000 Brits are registered as property owners in the country. With property prices just starting to recover after a couple of years in the doldrums, now is the perfect time to buy property in Turkey
‘Investment into a growth market’
This is a view shared by David Walker, the vice chairman (UK) of the Board for the Turkish British Chamber of Commerce and Industry. Mr Walker said: “The opinions from those at the heart of the construction sector in Turkey are very positive and there is a great sense of self belief in Turkey and its economic outlook for the country post global downturn.
“I have to say I personally believe this has always been the case. Optimism has remained high in Turkey and this, coupled with hard work and the steady decline in unemployment, has meant that this faith has translated internationally. 
“We are seeing greater numbers of Europeans seeking to invest in Turkey’s growing economy and property is one of the most popular means of doing so, offering twofold benefits for purchasers as an investment into a growth market and a tangible asset that buyers can enjoy personally too.”

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