Turkey – A Shining Light for European Property Investors?

Identified as one of the most influential countries in Europe in the Global Trends 2030 Report and with an economy second only to China in regards to growth, Turkey is emerging as an economic powerhouse, something which investors should seek to capitalise on, advises property specialists Knight Knox International.

The recent economic unrest across the European Union has caused uncertainty amongst property investors, as the more popular destinations of Spain, Italy and Greece are no longer viewed as the strong, reliable investment hotspots they once were.

Yet there is a shining light piercing this current fiscal gloom – Turkey!

With a population of over 74million, the country has recorded a fall in unemployment rates in 2011, in relation to an increase of 1.5million new jobs created since 2009. Its robust private sector coupled with a stable, sound financial system, has allowed Turkey to emerge with of the strongest economies in the world.

“Turkey has always been a popular destination with our buyers,” comments Dave Smith, Property Consultant at Knight Knox International, “and even more so now, as it is viewed as a more secure market than other countries in Europe. In particular, enquiries into property in Istanbul are increasing, as investors look towards gaining an income from the residential property market.”

Why Invest in Istanbul?

Historically one of the most influential cities in the world, Istanbul is increasingly becoming an investment hotspot, with high-spec residential and commercial properties being constructed at a rapid pace.

A recent report by CBRE (Istanbul Property Market Q1, 2012) paints an extremely positive outlook for the city, with numerous multinational insurance and banking companies and organisations set to relocate and/or expand to Istanbul over the next 12 months. This influx of investment has meant that there has also been a lot of investment from the private sector, in regards to residential developments targeted at commuters or city workers.

Source: Knight Knox International
Website: www.knightknox.com