Turkey Property

German Bank Positive About Turkish Housing Market

In these days of financial gloom it’s good to see that one housing market is on the up. This property market is Turkey where consistent reports from independent sources point Turkey as a great place to buy real estate .

Deutsche Bank predicts 5-6% economic growth per year over the next 10-15 years, so the economy will continue to produce and grow. Because of Turkey’s strict banking laws, the country has been relatively unscathed by the ongoing turmoil in financial markets. The country only recently introduced mortgages and the majority of buyers rely on their savings to buy property. Interest rates for mortgages have been high as well, so people have avoided using them.

In addition to a strong economy and healthy real estate sector, Turkey has seen an upswing in tourism. Officials are expecting 24 million visitors by the end of 2008, which is an increase of 14% over 2007. The country continues to invest in infrastructure and facilities, particularly in the Mediterranean coast as well as the city of Istanbul.

Useful resources
Turkish property for sale
Mortgages Turkey

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