Why You’re Mad Not to Invest in Property in Turkey

There are some incredibly exciting political, economic and even social developments taking place in Turkey against a background of increasing international awareness and acceptance of this emerging nation and which mean anyone who is overlooking this giant of a country is mad!

In this article we will detail why you’re mad not to invest in property in Turkey for a medium to long-term hold.  The fundamentals that are supporting the development of Turkey’s real estate marketplace are increasing in robustness and appeal almost daily…and therefore, this naturally bodes well for increasing demand for property and also increasing affordability in the market to support expanding prices.

The first point to note is that Turkey has allied itself well with the United Arab Emirates.  As a Muslim nation, Turkey naturally has a common understanding of the shared business and financial environments between the two, but more than this, Turkey has a strong dominance when it comes to exporting and marketing itself to Europe and even America.  Therefore an alliance between Turkey and the UAE benefits both locations on so many levels.

The alliance between Turkey and the UAE is multi-tier.  One of the most interesting ways in which the two nations have a commitment is on the property side of things.  Clearly emirates such as Dubai are a leading presence on the international stage when it comes to the development, construction and marketing of world class real estate to a global audience – and developers such as Emaar are lending their expertise to Turkey. 

In a recent meeting between the now well established Joint Economic Committee, the Turkish Finance Minister Kemal Unakitan and senior delegates from the UAE revealed that over GBP 2 billion has been invested by the UAE into Turkey and that ongoing, the UAE is looking to expand investment commitment into a growing number of areas of the Turkish business economy.

With significant investment commitment already occurring in the Turkish property market from UAE based developers, it was interesting that representatives of so many construction and real estate firms joined the delegation in Ankara.  It seems that there will be far more money coming to Turkey’s property sector and this bodes so well for the long term development of a robust, attractive and desirable property market in the major cities of the nation such as Ankara and Istanbul.  Anyone looking for signs that there is global confidence in the market before they buy in should find this information of interest!

Other areas where companies may invest, where there is shared interest and where Turkey is seeking guidance and support include the retail side of things and it was also of interest that representatives of the Jebal Ali Free Zone attended the meetings in Ankara and that there is expected to be a signing of a free trade agreement between the UAE and Turkey shortly.  This could mean there will be taxation benefits to investing in Turkey eventually?  Finally on the economic side of things – Turkey recently hosted an international Fashion Fair which was promoted globally and which representatives from the clothing and fashion industry attended.  The event was well timed to coincide with fashion weeks around the world to demonstrate how Turkey is such a key figure when it comes to the production and manufacturing of textiles.  It’s clear that Turkey has massive global financial ambitions which is probably why The Banker magazine named Kemal Unakitan Finance Minister of the Year/Europe for 2008.

Other factors that mean you’re mad not to be investing in property in Turkey at the moment include the fact that there has been a significant increase in the number of international flights arriving at airports across the nation, that cheap flights are now possible to Turkey, that Istanbul is becoming a destination to which Europeans will consider flying for a weekend break and that tourism interest in Turkey is predicted to expand well over the global norm for at least the next decade.

Every single conceivable fundamental that supports the potential for an emerging property market is in place in Turkey – which is why you need to be looking more closely at this nation if you’re considering an investment in 2008 for the medium to long term…mind you, that’s just our opinion at Amberlamb – and as we always advise, our opinion is just that, it is not meant to be construed as advice!

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