Turkey will withstand market turmoil
Thursday, October 9, 2008
Turkey's prime minister has insisted that the country's economy is strong enough to withstand the current global economic turmoil.
Recep Tayyip Erdogan stated that the European nation has developed a highly robust and resilient economy in recent years, which means it should not be negatively affected by economic problems and can weather the storm as it is supported by strong economic fundamentals, reports the Turkish Daily News.
The markets were plunged into pandemonium when US investment bank Lehman Brothers collapsed. But Turkey is an attractive option for overseas property buyers as financial authorities in Turkey have recently reassured in its ability to withstand the current turmoil on the markets. The various fundamentals which support the market would make certain that the underlying value of property in the region will not go down. According to Aston Lloyd, Turkey offers very competitive house prices. However, in the last four years, house prices in Turkey are going up at a rate of about seven per cent per annum.
Mr Erdogan commented: "There is no systemic risk as a result of the fallout in international money markets as Turkey has enforced the macroeconomic infrastructure of its economy." Shelter Offshore reiterated prime minister’s views and said that the Turkish housing market is currently "buzzing" as a result of its favourable investment climate.
This comes after the predictions from Moneycorp that Turkey will attract a high level of interest from investors in places such as the UK, regardless of ongoing economic problems.
Social BookmarkingRecep Tayyip Erdogan stated that the European nation has developed a highly robust and resilient economy in recent years, which means it should not be negatively affected by economic problems and can weather the storm as it is supported by strong economic fundamentals, reports the Turkish Daily News.
The markets were plunged into pandemonium when US investment bank Lehman Brothers collapsed. But Turkey is an attractive option for overseas property buyers as financial authorities in Turkey have recently reassured in its ability to withstand the current turmoil on the markets. The various fundamentals which support the market would make certain that the underlying value of property in the region will not go down. According to Aston Lloyd, Turkey offers very competitive house prices. However, in the last four years, house prices in Turkey are going up at a rate of about seven per cent per annum.
Mr Erdogan commented: "There is no systemic risk as a result of the fallout in international money markets as Turkey has enforced the macroeconomic infrastructure of its economy." Shelter Offshore reiterated prime minister’s views and said that the Turkish housing market is currently "buzzing" as a result of its favourable investment climate.
This comes after the predictions from Moneycorp that Turkey will attract a high level of interest from investors in places such as the UK, regardless of ongoing economic problems.
Labels: Latest-news, Turkish-property
