With 11% percent growth in the first quarter Turkey became the fastest growing economy in the world, leaving Argentina and China behind with 9.9% and 9% growth respectively.

This growth slowed to 8.8% in the second quarter, but this was still sufficient for Turkey to become the fastest growing economy for the first six months of 2011.

As the months pass more and more positive news flows from Turkey, surging 11% tourism growth in Q1, unemployment down to 9.2% and exports continuing to grow at record rates. This positive data has been growing for the last 18 months, and as the negatives shrink the data is fuelling incredible growth in investment into Turkey. Foreign direct investment was 325% higher in the first half of this year than last according to Central Bank data.

And now we have a new set of factors set to fuel even further growth in investment, tourism, the property market and the wider economy. Across the Arab World previously oppressed countries have risen up and those countries that are not still wrought with tension and/or violence face a hopefully brighter future under a new democracy.

But it is still an uncertain and tense time in most, and that is not the right environment for family holidays or property investment. Thus, Arabs who like to stick to other Arab countries for their holidays and investments are now choosing the next best thing in the Muslim democracy of Turkey. Of course, the firm stance Turkey has taken against Israel is also a factor in its popularity.

Whatever the reason, millions of Arabs are flooding into Turkey to shop, invest, holiday and buy property, adding further fuel to the boom in sectors and regions across the country.

We have seen a similar effect in Europe. With the sovereign debt crisis leaving few choices for the millions of Russian investors, and Turkey property standing out as a stable and safe option, recent reports have indicated a surge in sales to Russian buyers and those from other European countries.

Istanbul property is particularly popular with investors, because of its rapidly growing economy, and a population growing rapidly in number and affluence is causing a huge shortfall between property supply and demand.

According to the Turkish Association of Real Estate Investment Companies (GYODER) foreign sales of Turkish property grew 40% in 2010 compared to 2009. It is certainly looking like we can expect more growth for this year.

Article provided by Spot Blue Overseas Property