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Article by: yapmgroup@gmail.com (Mr.E.TAN) Published: 22/02/2011

As Turkey progresses along the road to EU membership, the essential legislative reforms introduced have made investing in the real estate market even easier and more profitable.

As Turkey progresses along the road to EU membership, the essential legislative reforms introduced have made investing in the real estate market even easier and more profitable. The amendments to the Land Registry Law, the Draft Mortgage Law and the redrafting of tax laws are also designed to improve the competitiveness of the Turkish real estate sector.

The real estate sector in Turkey also has great prospects thanks to demographic factors that are changing in parallel with improving economic figures. The demand for offices and logistical and industrial areas is expected to increase in line with the increasing number of global and local companies.

Stable, institutionalized, internationalized sector thanks to predictable inflation rates and consistent prices.

Dematerialization, transparency, auditing, high quality and standards, institutionalization and statistical information in line with the ongoing EU accession process.

60 percent of Turkey’s population is under the age of 34, while the country’s GDP was USD 618 billion in 2009. The share of housing loans in Turkey’s GDP is estimated to hit 15 percent in 2015.

Housing loans increased from TRY 3.5 million in 2004 to TRY 37.5 million in 2008, according to the statistics of The Banks Association of Turkey (TBB).

27.3 million tourists visited Turkey in 2009, making Turkey the 7th most visited holiday destination in the world. These figures show the great potential of the Turkish real estate sector as regards the tourism industry.

The number of modern shopping centers increased from 44 to 190 between 2000 and 2008.

Turkey, as a regional hub providing easy access to 1.5 billion consumers in Europe, the CIS, and as an energy corridor and terminal between Europe, Central Asia and the Middle East, creates more and more enterprises each year within its borders.

External Article Link: http://www.property-partnership.com/overseas-property-guides/overseas-property-guide.cfm?id=290

Article Link: http://www.property-partnership.com/overseas-property-guides/overseas-property-guide.cfm?id=290

Please contact the author at yapmgroup@gmail.com for more information.

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