Turkish Property a Hands Down Winner in Buyer Confidence War

Some of you will likely have seen our latest article to be published by Buy Association, in which we lay out why no country can match Turkey on its combination of strong growth and high security and confidence, and popularity (buzz).

Sure, we have Brazil, which is also generating massive buzz, and growing massively, and China, which, is of course the fastest growing economy in the world. And while the fight is a good one on which country will see the fastest growth in rents and property prices, in terms of buyer confidence, Turkey is a hands-down winner before the gate opens.

Before the credit crunch, confidence and stability paled into insignificance as the majority of buyers chased the biggest gains to Dubai as well as far flung and exotic emerging markets, hanging the delays of due diligence to "get in quick" and be the "early bird" that catches the worm. But we all know how so many of them paid for their folly. The buyers to emerge from this are obviously paying much more attention to security, stability and only buying where they feel most confident and safe.

Not many people are inspired by a feeling of safety when hearing the word China. Its communist dictatorship government, along with its abysmal record on human rights abuses, oppression and all manner of corruption, are a massive hindrance to buyer confidence. Not to mention fear that your property could be seized and even you arrested if you do something against someone in power's interests.

For a majority-Muslim nation, the determination of Turkey's secularism is surprising. Since the coup of 1980, the country has reformed into a fully democratic secular nation. The performance of the current AK party and its history of successful reform is a great booster of confidence among foreign investors.

Brazil’s problem is its massive crime rate. Its murder rate of four times that of America puts a great dent in foreign buyers' confidence.

Turkey’s Islamic based law system is harsh, and as a result the crime rate kept low.

In fact, unemployment is Turkey’s main hindrance and even it is currently falling. Still, compared to the problems of China and Brazil, Turkey’s has a minimal impact on confidence.