Turkey Property Investment Opportunities. Real Estate Turkey.

£48,000 / $95,000 *

New Developments in Turkey

Turkey is a transcontinental country spanning Western Asia and southeastern Europe. It is surrounded by Bulgaria, Georgia, Armenia, Iran, Azerbaijan, Iraq, Syria and Greece and also has coasts on the Black Sea, the Aegean Sea and the Mediterranean Sea. In the eastern mountains are born the rivers Tigris and Euphrates and here also is the Biblical Mount Ararat. The climate is temperate, though more extreme in the centre and in the mountains. The predominantly young population of 72½ million is mainly Turkish, with well-assimilated Kurds, Roma, Arabs, Greeks, Armenians and Jews. The culture is just as diverse – a blend of East and West, ancient and modern – with museums and theatres supported by the government and the Turkish writer Orhan Pamuk wining the 2006 Nobel Prize for Literature.

Byzantine and Ottoman architecture abounds, particularly in Istanbul, the ancient trade port and colourful capital city, unique in being partly in Europe and partly in Asia, sitting as it does on either bank of the Bosphorus looking out to the Black Sea. Here commerce and culture mix, with visits by world-famous orchestras and all kinds of cultural activity to be found, along with a vibrant night life. Turkey of course is famous for its carpets and tiles, its sweet thick coffee, its kebabs and sweet pastries like baklava.

It is around the 11th most visited country in the world with over 24 million tourists bringing in over $US18 billion (5 % of GDP) and providing nearly one and a half million people with employment. The dynamic economy, one of the fastest growing in the world, is a complex mix of modern industry (particularly construction, automobiles, electronics and textiles), commerce and traditional agriculture and has a rapidly growing private sector aided by privatisation and the reduction in government control of foreign trade and investment. Inflation has fallen to single figures and foreign direct investment has increased to over $US8.5 billion, with financial support from the IMF and a tighter fiscal policy, and further economic and judicial reforms and prospective EU membership are expected to boost it further.

Turkey is a presidential parliamentary republic with a multi-party system and a democratically elected prime minister, as well as an elected legislative assembly who elect the President and with an independent judiciary. Local government in the provinces consists of municipality assemblies under a mayor, who deal with health, social assistance, public works, education, culture, agriculture, economy and commerce and with municipal services including law enforcement, municipal taxes and domestic refuse. They also provide utilities and public transport. Towns in turn are subdivided into villages governed by an elected headman and sharing common land, school or mosque.

• Official Language: Turkish
• Currency: Turkish Lira
• View Turkey on the World Map

New Developments in Turkey

Turkey Property     * currency exchange rates subject to fluctuation.