As UK and other ex-pats who have invested in property in Turkey prepare to celebrate Christmas Day on Wednesday, the Turkish government has already been doing its own celebrating with several encouraging export and development announcements, Oceanwide Properties Turkey has learned.
The Ministry of Economy last week announced the development of a new high-speed train, a dramatic increase in the country’s exports to the European Union (EU), the development of the country’s first transshipment container terminal and the highest-ever recorded level of trade between Turkey and the UK.
- New high speed train for Turkey
- A new high speed train should be running by 2018, according to Transport Minister Binali Yildirim during an announcement in Ankara. Called the National Train Project and costing around $3 billion, the scheme will see Turkey producing its own trains in three factories.
- Increase in EU exports.
- While other country’s exports to the EU fell, Turkey’s grew dramatically an EU official report known as Eurostat, has declared. Exports from Turkey to the EU actually rose by four per cent compared to the same period in 2012. The only other country which increased its exports to the EU was India (with a one per cent rise). Most other countries exports had, in fact, fallen. Japan’s exports, for instance, had dropped by 15 per cent, Brazil was down 14 per cent and Switzerland 12 per cent. Norway also performed poorly with a drop of 11 per cent. (233 wds)
- Turkey’ first transshipment container terminal to be built
- Thanks to the European Bank for Reconstruction and Development (EBRD) providing a $92 million, Turkey’s AsyaPort project has been given official approval. The country’s first transshipment container terminal, it is set to boost the country’s infrastructure even further in a bid to sustain its current impressive economic growth statistics. The terminal will be designed, built and operated in Barbaros in Tekirdag. The town lies around 130km west of Istanbul. Other loan financing of AsyaPort will comes from The International Finance Corporation (IFC) to the tune of $69 million while İş Bank of Turkey will provide $106.6 million.
- Turkish-UK exports are highest ever recorded
- Emma Edhem, the chair of Turkish-British Chamber of Commerce and Industry (TBCCI) announced that the trade between the two countries was due to reach 15 billion USD by the end of 2013, making it the highest level ever for the two countries. UK investment in Turkey, meanwhile, is currently worth six billion USD. Turkish investment in UK totals around 1.6 billion. The growth is around nine per cent a year from 2003-2007.
The growing levels of prosperity can only be good news for those currently looking at property for sale in Kalkan, Fethiye and other coastal resort areas of Turkey, as well as Istanbul. However, here at Oceanwide Properties who would advise anyone currently considering a second home, holiday villa or retirement apartment in Turkey to start looking now prior to an expected increase in house prices – particularly when Turkey joins the EU in the coming years.
For advice on buying property in Turkey please feel free to approach either our Oceanwide Properties Turkey office or our London base where you’ll find friendly, bilingual staff only too happy to help.