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Why Invest in Property in Turkey Planned EU Membership It is widely regarded that now is the ideal time to invest in the Turkish property market. With the country expected to join the European Union in 2012, there are more people than ever looking to buy property in Turkey and therefore the potential return on investment is enormous. Joining the EU traditionally makes a huge difference to any property market, pushing property prices higher. High Economic Growth The World Trade Organisation considers Turkey to be one of the most dynamic countries in Europe and it is considered to have one of the ten most promising emerging economies in the world. The Turkish economy is very strong, averaging close to 7% GDP growth p.a. from 2003 to 2007. It enjoys a very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies. Turkey is a member of many multinational institutions (UN, NATO, OSCE) and has globally competitive and diligent workforce with unemployment well below the current EU average. It's also a vibrant, thriving country which is proving to be an important new market for both British and international companies. Global brands such as Sony Ericsson, Hilton, Toyota, Ikea, Harvey Nichols and Renault are opening offices in Turkey. The low cost of living also makes it a favourite retirement spot for Europeans. Strong Property Market Strategically situated close to Central Asia, the Middle East, North Africa and the European markets, Turkey has a huge population of over 70 million people. This creates a strong internal property market which it is not reliant on foreign investment. Turkish population growth is around 2% per annum with 70% of the population younger than 30, thus creating a strong local market. Property prices in Turkey are very competitive and all indications show that Turkish property will appreciate rapidly with the introduction of more flights, mortgages as well and its proposed entry to the European Union. Last year alone, property prices rose by around 50%. Turkey also has a large and rapdily expanding tourist industry that looks set to continue to grow. Over 24 million tourists visit Turkey each year, thereby creating even more demand for quality accommodation - ideal for off-plan property investors. The extra demand is sure to push prices even higher in the next few years. Rising Tourism Tourist numbers have risen from almost 13 million in 2002 to an estimated 24 million in 2008. The regions of Dalaman and Sarigerme have been chosen as the new tourism centres of Turkey and both Turkish and foreign companies are in a race to share in the benefits which the new marina, 5 star hotels, two international golf courses and the new exhibition and conference centre will bring. The Dalaman region is benefiting from phenomenal investment at the moment. The new airport terminal was opened in 2007 making Dalaman the third largest airport in Turkey. It began offering year round cheap flight deals this year, working with charter companies and tour operators. Cheap charter flights into an area increases the demand for holiday homes and rented accommodation, especially if the road and rail links are good. A new road tunnel opened in 2006 reducing the travel time from Dalaman Airport to Fethiye and the resorts beyond by 20 minutes. 2009 will see the opening of the Seki ski resort, an hour’s drive from Fethiye. Oludeniz and the spectacular Blue Lagoon play host to the annual Air Olympics. It is a huge attraction for paragliders and skydivers from around the world and the number of visitors and participants grows every year. The Dalaman River is also a great venue for rafting and last year 125,000 visitors were drawn to the region for rafting and other water activities. Turkey is a land of stunning beauty offering visitors a combination of sun, sea, mountains and lakes in the most tranquil and idyllic settings. It is a geographically diverse country with snow capped mountains and broad rivers in the east, to green coasts and rich agricultural valleys in the west. Lush, rainy, temperate climate exist in the north compared to a hot, dry climate in the south. Stretching from the nation's border with Greece to its frontier with Syria, the Turkish coastline has thousands of miles of unspoiled sandy beaches and coves fringed by pine forests, hundreds of pristine fishing villages and market towns. The country also has a wealth of ancient ruins the likes of which cannot be found anywhere else in the world. With its wonderful climate, charming towns and villages, golden beaches, wealth of history and friendly, hospitable people, Turkey is becoming increasingly popular with foreigners buying homes in the Mediterranean. Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum, boosting the property market and creating strong buy-to-let possibilities. In recent years, Turkey has become a major tourist destination. The rapid development of both summer and winter resorts means that you can be skiing in the mountains in the morning and swimming in the Mediterranean in the afternoon!
We are currently promoting a large number of Turkish properties to suit every taste and budget in the following key property investment areas of Turkey. Click on the thumbnail images below to see each of our recommended Turkish property developments:
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