(PRWEB UK) 30 January 2013
Colordarcy highlights news that the UK economy could re-enter recession in 2013 along with other countries in the EU, which could have an impact on property prices, with people feeling less certain about jobs and finances.
The problems being encountered in Spain, one of the largest economies in the EU, are also well-documented. Conditions for the country may well get worse with this latest announcement of a contraction in GDP.
On 24 January Spain announced that its unemployment rate had risen 26 per cent in the fourth quarter of 2012. This was its highest level since the company returned to a democracy.
Property prices in Spain have continued to fall throughout 2012 with up to 70% being wiped off the value of property since 2007 in some oversupplied areas.
Even in Belgium, one of the founding members of Europe of the EU, there are predictions that 2013 will be a year of stagnation (Source: BBC News).
So with talk of triple dip recessions and countries in the EU slipping further into debt the problem for property investors, if the uncertainty continues in Europe, is where to invest to see the kind of growth that was taken for granted back in 2007.
According to Loxley McKenzie, Managing Director of Colordarcy, "The alternative, as things stand, has to be property in Turkey, which was one of the world’s top property investment locations last year and promises to be so again in 2013."
Colordarcy analysts highlight that Turkey, as a whole, needs half-a-million new housing units by 2015 and developer activity in Istanbul has been going at a furious rate to try to satisfy some of this demand.
A recent report from PriceWaterhouseCoopers (PWC) places Turkey in fourth place after Munich, Berlin and London in the Top 10 European cities for existing property investments.
According to Colordarcy, smart investors looking to minimise risk and invest in property that is still comparatively inexpensive compared to the rest of Europe, shouldn’t look past property in Turkey in 2013.
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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