(PRWEB UK) 15 September 2012
Loxley McKenzie, Managing Director of Colordarcy.com commented, “Most of the smart investment money is heading out of Europe and into property in Turkey, the USA and Brazil.
There is a good reason for this particularly where Turkey is concerned. The country is having a few minor problems with its neighbour Syria but apart from that the economic performance of Turkey has been one of the few bright spots in the world this past five years.”
While the EU struggles to recover, Turkey is fast emerging as a new economic superpower according to analysts at Colordarcy.com.
McKenzie added, “In my experience few investors would consider investing in property in countries like Poland or the Czech Republic or even the major cities in those countries even though they once provided fertile ground for property investors seeking strong rental returns and double digit capital growth.
In my opinion, the only places worth investing in the EU at the moment are London and holiday properties in Spain where investors can take advantage of heavy discounts and good long term growth prospects.”
Beyond the EU, however, Colordarcy are keen to point out that it is an altogether different story. Turkey and more importantly Istanbul, is in the midst of a major property boom that remains firmly in its expansion phase.
Analysts at Colordarcy have looked at the performance of the economy, infrastructure improvements and the number of jobs being created in Turkey and say this is good reason for investors to feel confident in the long term prospects of the country.
Another important reason for this latest property boom is the ease with which investors can now invest in Turkish property.
The Turkey property boom is similar to the property boom in Eastern Europe a decade ago in that the doors have finally been pushed open to foreign investment.
183 more countries can now invest and more importantly the list now includes most of the Arab states. As a result of this, Turkey is expecting $300 billion worth of property to be sold to foreign nationals in the next 10 years.
One important difference between Turkey’s property boom and that which occurred in Eastern Europe is the significant rise in its population. Turkey has the fastest growing population in Europe, which is expected to rise from 77.8 million to 83 million by 2023 (Source: Turkstat).
Property booms as we know will not last forever, however for those prepared to enter a market at the right time, return on investment can be high in countries like Turkey where property prices are still low compared to Western Europe.
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Atlanta, Brazil, Florida, Turkey and the United Kingdom.
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