Turkey holds an enviable position in the world at large and in the realm of real estate in particular. Since the EU decided to begin membership accession negotiations in 2004 it has continued to climb on the radar of local and international developers and investors alike. Yet until Real Estate Publishers (REP) published the first Turkey Real Estate Yearbook in 2007 there was no single convenient source that provided a broad overview of the vibrant Turkish property market. Now, for the third year in a row, REP is shining the spotlight on this Eurasian jewel with the highly anticipated Turkey Real Estate Yearbook 2009.
Turkey holds an enviable position in the world of real estate.
Although Turkey has not been immune to the global downturn, the nation's strong fundamentals are serving it well. Extensive regulations undertaken following the Turkish banking crisis in 2001 are greatly aiding the stability today. Exports have risen rapidly, the lira has appreciated significantly, productivity and per capita income are up and the ratio of public debt to GDP is way down. Cross border investment increased 900% from 2004-2007, and though 2009 figures are falling, experts still predict a figure four times higher than in 2004.
So what about the property market? Infrastructure: bridges, tunnels, or public transport? Hotels: five-star or budget, business or tourist? Residential: high income or low to mid income? Office: A-class, B-class, CBD or suburbs? Industrial: Organized Industrial Zones, port cities, sticky expensive land prices? Retail: Istanbul or secondary cities, falling rents and oversaturation or growing middle class consumerism? Turkish REITs: which ones are there, how are they performing? What is the historical real estate situation? What are the current market conditions? What are the latest trends and breaking research? What is the outlook? Who are the top players?
For the answers to all these questions and much more, the Turkey Real Estate 2009 Yearbook will be launched at Istanbul REstate 2 June, 2009 at the Lutfi Kirdar Convention & Exhibition Centre in Istanbul. Free copies will be distributed in exchange for participants' business cards at Istanbul REstate and at more than 30 major real estate fairs and conferences across the globe all year. Copies can also be ordered at: www.europe-re.com/bookstore