Much is happening in the Turkish Real Estate Market lately. Turkey experienced a boost in the construction sector for the past 14 years. Urban transformation project that is put forth has a direct effect on this rapid development for sure. With the urban transformation and urbanization efforts, the construction and accordingly real estate development sector has become the locomotive sector of the country. Turkey owes its stable economic growth to those two sectors as well. During the economic crisis in 2008, the progress in the construction sector was the savior of Turkish economy.
After putting behind the first impact of the economic crises without any damage, Turkey begin to take more encouraged steps in the construction sector. The 3rd Bridge, North Marmara Highway that are recently built, on-going 3rd Airport construction and Canal Istanbul for which the construction is expected to start soon are all reflection of that courage. The development of Turkish construction and real estate development sector attract attention of European constructors to Turkey. Turkish construction companies are building solid relations and cooperation with their European counterparts as they do with the rest of the world.
Latest turmoil in Middle East, civil war in Syria, the situation of Northern Iraq and the recently started operations in Mosul and Kirkuk are feared to cause a sudden stop in the foreign investments to Turkey as Turkey is bordering all those chaotic locations but the latest developments showed otherwise. European International Constructors (EIC) have gathered up in Belgium this year and European Constructors stated that they are not worried and that they are going to keep invest in Turkey. Moreover, the next gathering of the Association has scheduled for the Fall of 2018 in Istanbul Turkey.
