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The good news continues for Turkey’s economy, with reports that the country has  had its first budget surplus in 28 years for the period of January and February 2011, reports experts in property in Turkey, House Sales Turkey (http://www.housesalesturkey.com/). In a time when most countries are experiencing spending cuts and budget deficits, Turkey is enjoying one of the healthiest economies, feeding into all sectors including real estate.

In news which will further bolster real estate in Turkey, the Turkish government has revealed that between the beginning of January and the end of February 2011, the country experienced a surplus in the state budget to the tune of just under TL 1 billion, the equivalent to $630 million, which is the first time the country has enjoyed a budget surplus in 28 years. According to the Finance Ministry's data, the state spent TL 23.57 billion, or 5.7 percent less year-on-year in the past month, while it received TL 24.56 billion in revenue, showing a budget surplus of TL 988 million in February. Finance Minister Mehmet Şimşek, speaking  to the Anatolia news agency, said it was the first time in the past 28 years that there was a surplus in the budget for the two consecutive months of January and February. “It is also the second time that there is a surplus in the budget for two consecutive months between the years 1970 and 2011,” he added. “The first was seen in 1983 when the budget surplus was only TL 56,000.”

The government asserts that this budget surplus is concrete proof that the Justice and Development Party (AK Party) in power has been actively carrying out successful economic activities, something which the party hopes will win them the next general election in June 2011. Real estate markets the world over rely on a healthy underlying economy but in this current climate most can only dream of a budget surplus, some of which could be allocated to the growth of its real estate sector. Turkey seems to be the exception, however, with property in Turkey set to benefit from an economy which is booming to such an extent that it is exceeding its fiscal targets.

To find out further information on the real estate market in Turkey and to view the latest property listings, from villas in Turkey to investment properties, go to http://www.housesalesturkey.com/.