Figures released earlier this year indicated a rise in Turkey’s economy (GDP) of 8.5 per cent in 2011 – and that was on top of a rise of nine per cent the previous year, we’re happy to report here at Oceanwide Properties Turkey. Not many countries can boast such an impressive record.
The significant rise in GDP means world economists can’t fail to cite Turkey as an excellent future investment opportunity. It’s certainly in the top 10 of ‘countries most likely to succeed money-wise.’
In fact, just this month the Office for Economic Co-operation and Development (OECD) reported it anticipated Turkey to post the second highest GDP growth next year based on its current economic performance and job creation initiatives. Encouragingly, Turkey is one of the few countries to be able to lay claim to having returned its employment levels to before the 2008 financial crisis, while much of Europe is still on the road to recovery.
Happily Turkey’s banks are in a reasonable state and public debt has almost halved within the past decade. Indeed its citizens can look forward to higher living standards as the year’s progress – which is good considering half of them are currently aged 30 years old and under.
Turkey’s location is also ideal – and we don’t just mean in terms of its situation beside the warm waters of the Mediterranean where it’s blessed with sun-kissed beaches. No, in terms of world travel Turkey is also well-placed to the extent its airlines recorded 31.8 million international tourist arrivals last year (more than double the figure in 2002). As a result it’s prompted the government to look at building a new airport in Istanbul to accommodate what appears to be a growing demand.
In fact there are numerous reasons to invest in commercial or residential property in Turkey and here at Oceanwide Properties we list our top three:
Turkey’s economy isn’t just doing well, it’s positively booming, having tripled its Gross Domestic Product (GDP) over the past decade where it was worth USD 786 billion last year. It’s now the 16th largest economy on a global basis.
Exports increased 325 per cent over the past decade and last year was worth USD 153 billion.
Not only that but the growth has been reasonably steady at around five per cent annually. According to world economic analysts it’s also expected to become the fastest growing of the OECD countries over the next five years.
Population and property
Turkey’s population is thriving. Last year it was recorded at around 75 million but the United Nations reckon it could increase by at least another 18 million come 2050. The reason for this is that 50 per cent of that 75 million is currently aged 30 years and under – in other words its population is strong, healthy and dynamic. And even more importantly, it’s also well-educated.
And in terms of international residents settling in Turkey, an estate agent in Kalkan or anywhere in the south of the country will testify to the increase in enquiries from any number of nations – particular Russian, American and British.
If it’s property in Turkey that you plan to invest in then in terms of its climate and geographical situation there are fewer more suitable countries. Turkey’s Mediterranean climate results in hot summers and milder winters.
Not only can it boast beautiful beaches, but also impressive mountain ranges with a wealth of fascinating foliage and greenery. Then there are the ancient monuments dating back to pre-Roman times.
In fact the question we regularly ask ourselves here at Oceanwide Properties is why wouldn’t you invest in Turkey?