Turkish property prices set to rise in 2013

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GYODER, The Turkish association of real estate investment companies, has announced that prices of new homes in the country saw an increase of over 12% during the last twelve months.

The organisation is predicting that investor interest in the commercial property sector is the next boom area for their home market and expects demand from overseas buyers to increase in 2013.

Other research carried out by GYODER reveals a picture of continuing growth in sales prices over the past five years, due in no small part to the stabilisation of the economy overall, which had previously been suffering from the effects of hyper inflation.

As witness to the improved economic conditions, public sector debt is now 40% of GDP, which is a vast improvement on the previous figure of 100%.

The current levels of debt put turkey in a better position than both Germany and France when judged on the same terms.

Recent changes to Turkish property law have seen an increase in interest from Middle Eastern and Russian investors, with the emphasis moving away from the more traditional holiday resort villas and apartments and focusing more on commercial property developments.

GYODER’s figures go on to estimate that foreign investment in Turkish property will continue to rise from today’s level of around $2.5 billion a year to four times that figure.

When looking into the possibility of investing in property in a country such as Turkey, not only is it a good idea to find a real estate agent that has local knowledge and experience with working with international investors, it is also essential to use the services of a professional currency exchange specialist.

If you want to send money from the UK, it is best to use a dedicated currency exchange service to make sure you get the best possible rates.

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Turkish property prices set to rise in 2013

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