Turkey has been described as a "prime" destination for property investment. Turkey's infrastructure has evolved to provide foreign buyers with the support and access necessary for development opportunities to become attractive. The Turkish government is focusing on developing the country's tourist industry to reach 15% of its Gross Domestic Product by the year 2020.
Turkey’s infrastructure has made this destination more accessible, with new roads and enlarged airports being built and existing road and air routes being expanded and has made property in Turkey more popular.
These rises have been underpinned by high tourist numbers and a stable economy, as well as efforts to keep inflation in check.
Turkey’s foreign minister has recommended his top choices for investment hotspots in accordance with Turkey’s Tourist Development Regions, these include Fethiye & the surrounding areas, Dalaman, Antalya, Manavgat and Oymapinar.
With Turkey experiencing unparalleled publicity for its rapidly growing tourism industry, this has helped and continues to fuel the massive demand in property sales. This is set to continue with Turkey rapidly becoming a dominant competitor in the international tourism market.
The area around Dalaman is particularly popular amongst Turkey property investors as the Turkish government is improving the tourism infrastructure in an attempt to make this area one of Turkey’s top tourist attractions. This investment includes the expansion of Dalaman airport, the building of three marinas and the area’s first golf courses. As this investment programme is only in its early stages, property prices have not yet reacted. This is certainly an area of great potential to property investors.
Turkish Property values to double
Property values in Turkey are set to double in the next three years as the government continues to make improvements to encourage investment, a property sector expert has predicted.
In the last two years, property values in Turkey have increased by 40 per cent, but according to New Turkish Properties, the figure will double before the end of the decade.
The Turkish government have and continue to support the growth by building new roads and motorways and increasing the number of chartered flights in to and away from the country.
The Turkish Government are also offering fantastic interest rates to people buying property in Turkey and with the advent of off-plan mortgages also being encouraged for the later part of 2007, the property market is set to expand and continue.