12/11/09- Overseas property buyers considering investing in Turkish real estate will be heartened by the news that the European Union economic report has predicted that Turkey will become the fastest growing country in Europe in 2010 with a 2.8 percent growth rate. Turkey also came out very well in recent Tourism statistics issued by the World Tourism Organization showing Turkish increases against a worldwide decline.
European Commission’s economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011.
The report said the inflation would be 5.6 percent in 2009, and it would be 5.8 percent and 5.3 percent for 2010 and 2011 respectively.
The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011 as trade deficit would be 2.1 percent in 2010 and 2.8 percent in 2011.
Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009, World Tourism Organization (WTO) said.
Turkish Ministry of Culture & Tourism said in a statement on Wednesday that tourism shrunk 7 percent in the world and 8.4 percent in Europe in the January-July period of the year because of impacts of the global financial crisis.
“Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world,” the ministry added.
Further good news for Turkish property investors as pundits predict that The Turkish Central Bank is preparing to cut interest rates on mortgages, the future of property investment in Turkey appears positive.
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