Real Estate in Turkey - Reha Medin Global

WHY TURKEY?

Real Estate in Istanbul Turkey - Reha Medin Global

WHY TURKEY?

Why Turkey

AS AN EMERGING COUNTRY, STRATEGICALLY SITUATED WHERE EAST MEETS WEST AND SURROUNDED BY A BEAUTIFUL COAST LINE, HAS BECOME AN IDEAL INVESTMENT AND TOURISM DESTINATION IN THE WORLD.

The Turkish economy has shown performance with its steady growth over the last 10 years. Major structural reforms in effect since 2002 has integrated the Turkish economy into the globalized world, while transforming the country into one of the major recipients of FDI in its region.

The structural reforms, hastened by Turkey's EU accession process, have paved the way for comprehensive changes in a number of areas. The main objectives of these efforts were to increase the role of the private sector in the Turkish economy, to enhance the efficiency and resiliency of the financial sector, and to place the social security system on a more solid foundation. As these reforms have strengthened the macroeconomic fundamentals of the country, the economy grew with an average annual real GDP growth rate of 5.2 percent over the past nine years between 2002 and 2011.

Significant improvements in such a short period of time have registered Turkey on the world economic scale as an exceptional emerging economy, the 16th largest economy in the world and the 5th largest economy when compared with the EU countries, according to GDP figures in 2011.

FACTORS THAT MADE TURKEY AN ATTRACTIVE COUNTRY FOR INVESTMENT

  • Turkey received its investment-grade credit rating by Fitch Ratings.
  • Consumer price inflation decreased from 10.61% in January 2012 to 6.16% in December 2012.
  • The government has started the most extensive urban transformation project to demolish 6.5 million buildings, due to the fact that Turkey is an earthquake zone
  • New developments in Istanbul such as the new airport, third Bosphorus Bidge and Olympic Games for 2020 etc, are expected to improve the prospective opportunities of the city.
  • The confidence of global investors in the Turkish retail market has improved substantially.
  • Demand for office space occupier demand remained strong in 2012 with an increasing number of multinational firms establishing offices in Istanbul.
  • 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.
  • The geographical position of Turkey being a bridge between Europe, Central Asia and the Middle East puts emphasis on the development of the logistics sector and related construction.
  • Lower Inflation rate
  • Lower interest rates and housing loan interest rates.

 


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