Positive Economic and EU News Boosting Turkey’s Property Appeal

Following on from the temporary hiccup earlier this year when Turkey effectively halted foreign property sales, all is back on track in the real estate industry ready for a busy summer and positive economic and EU news is boosting Turkey’s property appeal even further.

This is fantastic news for would-be investors who want to be assured that they are buying into a nation with a healthy economy and one where there is long-term potential for strong capital appreciation based on a rise in the appeal and general fortunes of a market.

The news relating to the European Union and the continuation and development of Turkey’s accession talks is concerned with the EU agreeing to consider opening talks on two more policy sectors.  In all Turkey has to work with the EU to reach framework status in thirty five policy chapters – it has so far begun working on six chapters since talks began back in 2005, and despite progress seeming slow, most analysts believe Turkey is making strong progress.

A nation like Turkey is coming from a very different position to many EU member states in a whole host of policy chapter areas and therefore a great deal of negotiation, policy and legislation amendment and fundamental governmental changes have to be made every step of the way.  Turkey has shown that it is committed to achieving EU member status – ideally within the next decade – and this has had a hugely positive effect on the way the nation is considered by foreign investors.

The levels of foreign direct investment inflow in Turkey have been significantly boosted by the progress the nation has already made in terms of starting membership talks.  And now, according to an advisor to the Organization for Economic Co-operation and Development (OECD), Turkey is the right place to boost currently excellent FDI levels up by a further USD 10 billion annually.

According to Charles Kovacs, a USD 30 billion total inflow of FDI in the coming years is realistic for Turkey if the government can just get its head around easing regulatory restrictions and improving transparency.  This may be a tough call for the government which can be relatively slow to react, but everyone has a lot of faith in Turkey and that’s because by the time it is scheduled to become an EU member state, its economy will be so big, so strong and so robust that it will account for up to 7 – 10% of the EU’s entire GDP.

So, as a property investor, if you were wondering why Turkey’s EU bid was so significant, now you know!  It’s not just a question of Turkey wanting to be in the EU and working hard on all policy areas to ensure it is in with the best chance, it is a fact that Turkey will be incredibly strategically important to the European Union.  Turkey will have wealth on its side, it also has a massive and young population that aging EU members hope will fund their pensions!  So, as an investor you can rest assured that Turkey is a country with massive determination to succeed economically speaking that has the rest of the world backing it to succeed!

You can buy in to this period of growth and success today through real estate and potentially stand to profit well as the nation goes from economic strength to political strength.

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