Golden years of real estate are coming back
ISTANBUL - Interest in investing in Turkey’s property market has intensified because the industry has been averaging 40 percent returns while the rest of Europe floats around 5 percent growth. It is now easier to purchase as property prices have dropped
The last of the golden years for a large property investment boom in Turkey began in 2003 and carried on quite strong until 2005.
The last preparation year was 2002 when a new law came out, and foreign nationals were allowed to purchase real estate in Turkey in their own name. Well be prepared. The year to get ready for the next big property boom is 2009.
According to a representative of Garanti GYO, interest in Turkey investment property has intensified because the market sector has been averaging 40 percent returns while the rest of Europe floats around 5 percent growth. Obviously these levels of potential profitability are of great interest to corporate investors and it is worth taking into consideration that Dubai Holding’s commitment to the Turkish property market represents their largest international financial investment, which just goes to show how certain they are of the large profit margins in Turkey.