Overseas Property World

What a dramatic title? I couldn’t resist, because while even I hope it isn’t true, and am far from being a believer in the doomsday scenarios being floated, right now Turkey is the investment centre of Europe, and one of the best emerging markets to invest in property in the world.

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Turkey is becoming increasingly important in the Arab world because it has successfully created a secular and democratic political system that works within a Muslim country. This is rare as has many countries looking to follow the Turkish example.

Turkey has not only bridged the political divide between secular democracy and Islamic Autocracy, but it has also bridged the gap between west and east; Turkey’s good relations with the west does not put off those in the east, and Turkey has successfully increased ties with both sides of the divide in the last 18 months.

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Turkey looks set to remain top of the list for overseas investment property for quite some time to come. This is due not only to the low property prices and booming economy, but also because the country enjoys 300 days of sunshine every year, has beautiful beaches and rapidly developing resorts while the low costs of living are irresistible to holidaymakers.

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The figures for January are expected to show that Turkey’s trade deficit has risen 12.7% on the year to $4.35 billion, and it is expected that the deficit for 2011 will increase to $81 billion. This is due to imports outstripping exports and increasing oil prices, and is one of the biggest risks facing the country’s economy leaving it vulnerable to external events.

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The Turkish economy was traditionally based around agriculture, and while this sector still accounts for 30% of all employment it is rapidly being overtaken by the industry and service sectors.

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