Property in Turkey sees further growth

Property in Turkey grows from strength to strength with the improving economy and booming tourism.

The Turkish Statistics Institute (TurkStat) announced on Wednesday that the Turkish economy surged by 11.7 percent in the first quarter of 2010, making it the country with the second-highest growth rate for the same period, just after China.

Turkey offers 5,000 miles of outstanding coastline bathed by four seas. The Black Sea in the North, the Mediterranean in the South, the Aegean in the West and the Sea of Marmara, Turkey is a country rich in history and culture, the people are hospitable and the delicious cuisine reflects the attachment to its neighbours and historic links. Ultimately, the entry into the European Union will serve to raise the profile of the country and attract more foreign investors.

Due to its Geographical location Turkey has found favour throughout history with many of the great civilizations, evidence of which can still be seen in many of its towns and cities. Two of the Seven Wonders of the Ancient World can be found here, Halicarnassus Mausoleum in Bodrum and the Artemis Temple at Ephesus.

Managing Director of Turkey property specialists, Property Prophets, Michael Johns said “Turkey continues to grow as an economy, and now attracts true property investors as well as those looking to buy a holiday home in the sun. Property prices are still equivalent to those seen in Spain in the mid-80’s but pricing has stayed low over the last ten years due to political and cultural uncertainty. With its stable economy and improved infra-structure, we predict a large increase in prices over the next ten years”