Turkey is a dynamic and emerging market equipped with a well-developed infrastructure and a globally competitive work forces. Turkey is also home to a thriving tourist industry and rapidly growing property market, attracting huge international interest.
The Turkish property market currently offers excellent quality and value for money. This, combined with the outstanding expected growth (25-40% per annum), offers property investors a unique opportunity.
Turkey is currently at the very start of the long road to possible EU inclusion. There are many factors yet to be discussed and Turkey issues to be corrected before inclusion will be seriously considered. When Turkey does get accepted into the EU, it can expect the price of property to rise substantially and tourism to improve even further. Many investors are purchasing in Turkey with EU inclusion as a major driving force for this investment, while they look to take advantage of the current low property prices and a growing rental market.
Turkish economy is very strong with 5.6% GDP growth in 2005 and Turkey now has the 22nd largest economy in the world.
Turkey?s system of government is democratic and it is a full member of NATO. The president, currently running the Justice & Development Party (AK), has broad powers of appointment and supervision, and is chosen by Parliament using proportional representation for a term of 7 years.
The stringent entry conditions imposed by the EU require human rights to play an instrumental role in the progress of a struggle between Turkey's policy makers. This will ensure a fully democratic system, in line with European standards, which is already well developed in such areas as allowing women a political vote and an allowance for complete freedom to worship any religious faith. |