Turkey fits well with Europe and is almost certain to join the European Union which will add to the attraction of this location for investors seeking healthily returns from a growing economy. Turkey's growing population of 70.2 million (2007) to an estimated 82 million by 2015 and 100 million by 2050 means this location is booming both internally and from a tourist perspective.
Turkey has a growing population which places pressure on housing and therefore real estate prices. Turkey has always had a valuable tourism industry due to its location and combined with higher interest and the EU expection, prices are seen to be rising from a low point. In real terms residential property prices may have fallen 25%-30% across much of the country since the start of the global recession in 2007. Turkish real estate is also relatively cheap when comparing to Western European standards so there is plenty of capacity to expand.
The Turkish government is predicting continued growth with the economy Minister Ali Babacan saying that it could even be as high as 10%.
A strong Turkish growth will reinforce confidence in Turkey's Real Estate sector that is already strong in comparison to the rest of Europe.
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Economy in Turkey
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