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"Turkey property is now the second best investment in the world of overseas property according to influential overseas property writer Liam Bailey. He wrote on his blog:
Back in December last year I published list of the top 10 best property investment destinations, looking back at it now I am still quite happy with it. One thing I would change for definite if I knew then what I know now would be the position of Turkey.
I put Turkey in 6th behind, America, Malaysia, Brazil, Albania and Panama. If I did the same list now my top 3 would be Brazil, Turkey and America.
He went onto explain that it is not so much new developments (as in events, occurrences, stats and news) that have propelled Turkey up his rankings, but the situation changing around Turkey allowing its strengths to stand out against a dire economic background.
The rapid growth in the Turkish economy, which is new, has drawn attention to the country. The sovereign debt crisis' affect on Turkey's competitors -- Greece, Spain, Italy and Portugal -- has also led to Turkey being highlighted because of its fiscal stability following years of reform.
Finally Bailey explains how the reforms to the banking sector, as well as the government's fiscal restraint and paying down debts led to low interest rates, not as an emergency response to financial crisis, but a measured response to the budgetary environment. This, said Bailey means Turkey has "high growth, fiscal stability, high liquidity, low interest rates and low property prices, the perfect combination for property investment".
