Is the Property Boom in Turkey?
With the indicators shown on this page, it’s very likely to predict that Turkey is at the beginning of a "property boom". Growth in Turkey property prices can be triggered in two ways, under value of property or demand outstripping supply. Both these factors are presently the situation in Turkey especially in the major investment areas such as Antalya, Istanbul and Dalaman.
Real estate and money management experts at Jones Lang LaSalle have claim that Turkey is among the leaders in €26 billion (£17 billion) worth of investment in property. Jeremy Eddy of Jones Lang LaSalle told the London Stock Exchange (LSE) that "investor interest is moving further east" leading to "the first major transactions taking place in Turkey" and other parts of Eastern Europe.
Investment in Turkey during 2006 rose 77 per cent on 2005's figures and during the last quarter of 2006 some €10 billion (£6.6 billion) was pumped in, 40 per cent of the annual total.
These figures are strong indication of increasing popularity and demand for European commercial properties, attracting a growing number of investors year-on-year.
The current attraction for investing in property in Turkey is the current value for money. The Turkish property market still offers excellent quality properties at prices that most other locations of a similar calibre could not offer 10 years ago. These prices, combined with the outstanding expected growth and powered by strong market drivers, offer property investors a unique opportunity. |
Property values in Turkey |
