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"We all know the obvious consequences of the international financial crisis, thousands of people lost billions of dinars, euros, kroons, pounds, and dollars on property investments (not just property of course) that didn’t do as well as expected or simply didn’t do anything because they were never built.
As a result of this, the breed of property buyers and investors that emerged in its wake were far tougher. They weren’t afraid to roll up their sleeves and hammer an answer out of agents and developers. But most importantly, they were putting stability and confidence in a country’s stability far above potential returns.
Now, in terms of growth and potential returns, Brazil, Turkey and China are all equal, all three are currently becoming known as the top investment destinations in the world. But for private property buyers and investors, Turkey property is definitely winning in the confidence war.
The Chinese government is a military dictatorship, worse it is operating under a communist political system. We all know of China’s human rights record and obstruction of civil liberties. While its economy is now one of the most important things, investors at the private level will never feel truly safe; that officials from the local government couldn’t arrest them on trumped up charges and gazump their property or business for the state.
Meanwhile, since the 1980 coup Turkey has become a democtratic and staunchly secular nation, through near-constant reform. The current government of the AK party, has been particularly determined to reform, and has and continues to gradually phase out the remnants of military involvement in the rule of Turkey.
Investor and buyer confidence in Brazil is badly hampered by its having some of the highest crime rates in the world. Its murder rate, which is 4 times that of America is a particular cause for concern.
When it comes down to it, Turkey’s biggest confidence knock is its ongoing battle with unemployment. Agreeably unemployment is not as big a concern of private foreign buyers and investors as crime or especially China’s communist dictatorship. This is especially true because unemployment is currently falling in Turkey.
