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 bezogen auf: Turkey

The Turkish Property Market

Turkey has only recently become popular with property investors and private buyers who are looking for a holiday home that will offer comfort, style and good capital growth potential. Turkey's profile is surprisingly low, although the country offers everything you could possibly be looking for: a warm Mediterranean climate with 300 days of sunshine per year in the southern resorts, breathtaking landscapes as well as modern and antique sights dotted all across the country. The Turks are an exceptionally guest-friendly people and properties in Turkey still offer superb value for money. All of this is most likely to be the reason why the number of properties purchased by foreigners in Turkey has skyrocketed in recent years.

A further incentive for buying in Turkey is the fact that prices are still relatively low, compared to other Mediterranean countries such as Spain, Italy and France. Since its official application for EU membership in 2005 Turkey has received large foreign investments, often in the property sector. Especially investors from Dubai have transferred large sums into the country since it is only a matter of time before Turkey will become a fully integrated member of the EU and that usually means a more drastic raise in real estate prices. Now is the time to buy!

On top of this already positive development, the Turkish government continues its efforts to make Turkey an even more popular holiday destination. The goal is to raise the number of tourists from 17 Million in 2004 to 30 Million in 2010 - to achieve this, funds are being channelled into infrastructure and tourism centres. In the next years new roads are going to be built in key areas as well as new marinas, golf courses and international airports along the Mediterranean coast.

Turkey is still a developing property market. While foreigners invested 1.34 Billion Dollars in Turkey in 2004, real estate worth 9 Billion Dollars was purchased in Spain alone during the same period.

Within Turkey the most popular regions with foreign property buyers are the coastal areas of the Aegean and the Turkish Riviera. The hot spots are located between Kusadasi in the North West and Alanya in the South East. Unsurprisingly these areas offer the most beautiful beaches the most breathtaking panoramas and the most comprehensive number of sights and activities.

Tourism development has turned formerly quiet fishing villages like Bodrum or Marmaris into colourful holiday resorts with comprehensive entertainment facilities, first class restaurants, bustling nightlife, excellent medical facilities and well stocked supermarkets. Further large scale projects like further golf courses in Belek and soon in Side or new marinas in Marmaris, Gocek and Fethiye are an additional incentive for property investors.

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