Leading Asset Management Company add to recent Turkish plaudits

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HSBC Global Asset Management have named Turkey as one of the world’s strongest performing equity markets, further adding to the positive economic vibes which are surrounding the nation at the moment.

The country has posted notably strong GDP growth rates of 9% in 2010 and 8.5% in 2011, and many shrewd economic observers have noted recently that Turkey remains relatively isolated from the financial chaos that has engulfed Europe in the last few years.

The strong endorsement from HSBC follows recent reports that foreign property investors have also begun to appreciate the financial appeal of Turkey.

A recent decision by the Turkish government to relax the rules regarding the amount of foreign investors who can make property purchases has certainly had the desired effect.

The new law was published in May and has already sparked an increase in the amount of property purchased in the country.

Within the first month after the law was published, overseas investors purchased around £706 million worth of real estate.

According to the Turkish Central Bank, this represents four times the quantity purchased in 2011. If such a rapid increase continues, the decision to relax the rules on foreign investors could turn out to be one of the shrewdest pieces of legislation introduced by the country in recent times.

Transferring money to Turkey

Those who need to transfer money to Turkey might want to review their options and find the best way to send money abroad.

If you are looking to invest in Turkey, think carefully about how you will be sending money there. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So, if you are sending money to Turkey – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Leading Asset Management Company add to recent Turkish plaudits

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