Turkey is one of the prominent countries in Europe-Asia. As far as the economy is concerned, Turkey has, more or less, diversified its economy since the year 2000. The change in economy happened due to its more active participation in exports to Europe and other Asian countries. The major driving factors for Turkey’s export are its industry and services. A small part is also played by the traditional agriculture sector in managing the employment ratio. Another sector helping manage country’s employment is the textiles and clothing sector. The inhabitants of Turkey are relieved since they identified the oil generating area of the country that is basically from the Baku-Tbilisi-Ceyhan pipeline discovered in May 2006. This pipeline is responsible in the production of up to 1 million barrels per day from the Caspian and get it delivered to the market.
Like the current economic crisis faced by the Eurozone, Turkey is also facing a financial crisis. Once the country’s export quota was stabilized, it brought the country’s GDP to 7.3% in 2010. However, the worrying factor which keeps the economy under an environment of financial burden and pressure is the ongoing account deficit and the volatile market conditions along with the short –term investments to finance the trade deposits.
The real-estate sector of Turkey
One of the key segments, the investors are interested in is the real-estate sector of Turkey. Turkey is considered to be the gateway to European market. It is considered to be one of the ultimate destinations for property investments due to the availability of amazing beaches and favourable climatic conditions.
Another reason why investors’ can relate to the property market in Turkey is due to presence of a much younger population. According to census data, the population in Turkey tends to increase by 2% every year. This corresponds to a younger crowd resulting in creating a powerful local market for investments in Turkey.
It offers lower costs of living and favourable weather conditions which gives better reasons for investors to invest. Another interesting fact about investing in the country’s real estate is that no capital gains tax is issued by the government of Turkey after the period of 4 years.
As of today, Turkey has more than one reason to attract investors. It not only offers great returns but also helps the investor prevent a huge cash-flow. Interestingly, Turkey is one of the countries experiencing regular developmental ventures. It is still considered as one of the primary tourist attractions and has the availability of property near Aegean and Mediterranean coasts.