TURKISH REAL ESTATE SECTOR OFFERING EVER - GREATER OPPORTUNITIES ....

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 6, 2012 --

The Turkish real estate sector, offering ever-greater opportunities for investors every year, has come to prominence especially in the last decade. Although with the recent economic crisis and the global economic recession the European and US real estate markets have been negatively affected, the real estate market in Turkey is still promising. While the reduction in demand and a downward trend in house prices have been observed all over Europe, according to TurkStat statistics the number of apartment units sold in the second quarter of 2009 increased 72 percent compared with the same period of 2008 in Turkey, which shows that Turkey has a huge growth potential in the real estate sector.

The entry of global actors into the real estate market is increasing the competitiveness of the sector, while massive mergers and acquisitions taking place help its expansion and overall growth rates. Different surveys and publications such as the “Emerging Trends in Real Estate Europe”, prepared jointly by PricewaterhouseCoopers (PWC) and the Urban Land Institute, show how global and local interest in the Turkish real estate sector has increased. According to the 2009 publication of this report, Istanbul is ranked as the third most attractive investment market in Europe after Munich and Hamburg.

As Turkey progresses along the road to EU membership, the essential legislative reforms introduced have made investing in the real estate market even easier and more profitable. The amendments to the Land Registry Law, the Draft Mortgage Law and the redrafting of tax laws are also designed to improve the competitiveness of the Turkish real estate sector.

The real estate sector in Turkey also has great prospects thanks to demographic factors that are changing in parallel with improving economic figures. The demand for offices and logistical and industrial areas is expected to increase in line with the increasing number of global and local companies.

Stable, institutionalized, internationalized sector thanks to predictable inflation rates and consistent prices.
Dematerialization, transparency, auditing, high quality and standards, institutionalization and statistical information in line with the ongoing EU accession process.

60 percent of Turkey’s population is under the age of 34, while the country’s GDP was USD 618 billion in 2009. The share of housing loans in Turkey’s GDP is estimated to hit 15 percent in 2015.

Housing loans increased from TRY 3.5 billion in 2004 to TRY 37.5 billion in 2008, according to the statistics of The Banks Association of Turkey (TBB).

27.3 million tourists visited Turkey in 2009, making Turkey the 7th most visited holiday destination in the world. These figures show the great potential of the Turkish real estate sector as regards the tourism industry.
The number of modern shopping centers increased from 44 to 190 between 2000 and 2008.

Turkey, as a regional hub providing easy access to 1.5 billion consumers in Europe, the CIS, and as an energy corridor and terminal between Europe, Central Asia and the Middle East, creates more and more enterprises each year within its borders.

Strengths
Sound banking system
Recently introduced mortgage system
Strong construction firms with a good reputation worldwide
ULI ranked Turkey the leading and the third investment market in Europe in 2008 and 2009, respectively

Weaknesses
High ratio of unlicensed and old housing; ineligible for mortgage credit
Land area is limited and expensive, particularly in Istanbul

Opportunities
Housing supply is less than housing demand, indicating growth potential
Expected increase in quality of housing in compliance with the earthquake regulations

Increasing need for residences and plaza buildings
Restructuring process in the cities leading to slum houses being demolished and replaced by quality housing

Threats
High risk of earthquakes in Turkey, particularly in the Marmara region,
which covers Istanbul and the leading industrial zones of Turkey
Traditional volatility of the sector


http://www.belekproperties.com
http://www.youtube.com/watch?v=THYQhGDjQBY
http://www.invest.gov.tr/en-US/Sectors/Pages/RealEstate.aspx

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