Voted 3rd in the A Place in the Sun television programme as a destination to buy overseas property (2005) and vted 4th most popular as a destination by the A Place in the Sun reader (2006) Turkey represents outstanding value for money for overseas property investors and those seeking a holiday hide-away.
For as little as £53,000 it is possible to buy well-built apartments only minutes from the beach and the centre of town, close to all amenities and even with rental guarantees to ensure returns in those early years.
And now could not be a better time to contemplate that property investment in Turkey or buying that long-dreamed of holiday home on the Aegean coast.
Magical blend of East and West
As a destination for owning a property Turkey is truly a land blessed with all that Asia and Europe, especially the Mediterranean parts of Europe, have to offer. Its solid progress towards the rest of Europe means the Turkish property market is poised for some interesting times ahead.
True, it has not always lived up to its promise in the past but the changes coming about at this moment are long-lasting and exactly the sort of moves overseas property investors look for – a strong demand from the indigenous population, the advent of low-cost airlines and impending membership of the EU all point to growth in the medium term.
Frankly, Turkey already enjoys a dynamic tourism market with over 25m visitors each year – a factor, no doubt, in the decision by the Crown Prince of Dubai to invest $5bn in Turkey’s property market not too long ago. If ever potential overeas property investors needed confirmation that a market was considered a safe haven for their funds this must surely be that confirmation.
Turkey is ideally placed to benefit from tourism emanating from both the Eastern world and the West. Its Islamic heritage combined with its position on the edge of the Mediterranean makes it perfectly suited to reap dividends from every angle. With more historical sites than you can shake a stick at and beachfronts the envy of many other countries Turkey is more than adequately endowed to attract plenty of visitors. Foreign tourist arrivals increased substantially in Turkey between 2002 and 2005, from 12.8 million to 21.2 million, which made Turkey a top-10 destination in the world for foreign visitors. 2005 revenues are US$17.5 billion which also made Turkey the top-10 biggest revenue owners in the world.
Low-cost is the secret
All property investors know that where the low-cost carriers go tourists will follow; and where tourists flock property values will rise. To date Turkey has been poorly served by low-cost carriers but this has been changing rapidly recently. Now several airlines serve a number of Turkish airports (see the low-cost airline guide for more details). And the government has approved some major development of international airports to accommodate the rising demand.
The Economic factors that make ‘Investing in Turkey’ worthwhile.
- Property prices are still lower than equivalent European hot spots
- Cost of living is 1/3rd of that in the UK
- The process for incorporation of Turkey into the EU has started.
- The Mediterranean coast offers an all round season for good holiday rental opportunities.
- Excellent property investment growth is predicted with holiday operators and airlines increasing capacity.
- Low property acquisition and ongoing taxes
- Fastest going economies attracting large corporate investments
- Rich in cultural history and ancient historical ruins
- Excellent road and air networks providing good infrastructure around the country
- Turkey has some of Europe’s attractive and stunning beaches making it a very popular holiday destination
A guide to buying a property in Turkey
View property for sale in Turkey
Regions Aegean Provinces Aydin Districts Didim Cities and Towns Akbuk Altinkun Kusadası Izmir Mugla Districts Bodrum Dalaman Cities and Towns Gocek Fethiye Cities and Towns Calis Ovacik Marmaris Mediterranean Provinces Antalya Districts Alanya Antalya Kas Cities and Towns Kalkan Serik
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