New report shows 11% expansion for Turkey’s economy

Last week experts stated that Turkey's economy grew more rapidly than predicted in the first quarter of this year.

According to a recent report published by the Turkish statistics institute, Turkstat, gross domestic product expanded 11.0% year-on-year in the first quarter, compared with a revised 12% growth for the same time last year.

The expansion topped market expectations of a 9.6% gain with ease, and helped Turkey earn its position as the fastest growing economy in the Group of 20 industrialized and emerging nations in 2011.

In reaction to the statistics published by Turkstat, the Turkish Government has upgraded their expectations for 2011 growth to 7% from 5.5%. This indicates that the country is confident that the economy will continue to expand despite the global recession.
For investors looking to purchase properties in Turkey, both reports show signs of growth and stability within the country, thus making opportunities such as new-build, buy-to-let developments an attractive choice for those looking for hassle-free property investments.