Turkish real estate market has good prospects in 2011

Turkish real estate market remains one of the safest real estate markets among the most developed countries. This is due to affordable housing prices and greater confidence among the population for companies that provide the processes of buying and selling real estate in this country. 

 Chairman of the Turkish Association of real estate investors Turgay Tanes stated that the property market in Turkey has a good potential for growth in 2011. Analysts predict steady slight increase in property prices and rent due to the increasing demand. It is also assumed that investment growth will be about 8-10% in 2011. 

 There are all the prerequisites for the development of the construction market in Turkey. Number of building permits will increase by 10% and the number of mortgage loans by 20%. Moreover, such rosy prospects won’t cause formation of "bubble" as it happened in developed countries, cause growth is expressed in real terms, without embellishment. However, Turkey still needs to take measures to maintain growth of its real estate market and closely monitor the situation on the world market. 
 Foreign investors are still reluctant to invest in Turkish property due to existing bureaucratic procedures, which significantly complicates the procedure of purchase. Therefore the government should as quickly as possible to change this procedure, taking into account the interests of local and foreign investors. If the process of buying property in Turkey will be simplified, it will greatly enhance the market potential and impact on its growth in the best strontium. 
Recall, that the property market in Turkey has shown good growth in 2010. Demand for retail and office space has increased by 24,6% here.