Real Estate in Turkey Bolstered by Construction Boom

Real Estate in Turkey Bolstered by Construction Boom

Leading property listings and news portal for property in Turkey, House Sales Turkey (http://www.housesalesturkey.com/) reports on the encouraging news that the country's real estate market is being bolstered in what are still challenging economic times by a boom in construction. While other real estate markets around the world such as Spain are freezing most new build plans, Turkey's rapid economic growth is creating a much-welcomed construction boom.

Figures recently released from the Turkish Statistics Institute reveal that the construction sector has expanded by 21.9 per cent in the second quarter of 2010. New construction projects are planned around the country and range from low-cost one- and two-bedroom apartment complexes to high-end complexes for new build villas in Turkey. It's not just the construction industry in Turkey which is enjoying a boost: the country's economy as a whole rose by a significant 10.3 per cent in the second quarter of 2010, making it the third fastest growing economy in the world at this time.

This healthy economic outlook is helping to bolster real estate in Turkey overall. According to PropertyWire.com, David Walker, Vice-Chairman of the Board for the Turkish British Chamber of Commerce and Industry, said: "We are seeing greater numbers of Europeans seeking to invest in Turkey's growing economy and property is one of the most popular means of doing so, offering twofold benefits for purchasers as an investment into a growth market and a tangible asset that buyers can enjoy personally too. Sales of properties are strong considering the global economic climate and more developments will be coming to the market to suit the cosmopolitan communities."

These reports are backed up by figures released earlier in the year by the Turkish General Directorate of Land Registry earlier this year, which revealed that 32,000 Britons are currently registered as owners of property in Turkey.

For more of the latest property news in Turkey and to view the latest property bargains, from apartments to villas in Turkey, visit http://www.housesalesturkey.com/.

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