INVESTMENT IN TURKEY
With a steady increase in annual tourism, Turkey is experiencing an unprecedented level of international exposure and this is, in turn creating more tourist interest and increasing demand for Turkish property. The value of Turkish property is expected to appreciate in beach front areas by as much as 50% initially, with forecasts for the next two to three years reaching 100%. Property prices are expected to continue to rise accordingly now that Turkish mortgages have become available to foreigners.
Why Invest in Turkey?
Turkey is an attractive investment to purchasers looking to catch an emerging market from the start while Turkey is on the verge of becoming a mainstream international holiday destination. There are great opportunites in property and land investments with high profit returns because of the fast developing sector of tourism and construction in all major holiday destinations, attended by a high demand for holiday homes.With EU inclusion possible well within the next ten years, Turkey represents strong investment potential, particularly for Buy-to-Let strategies.
TURKEY PROPERTY HOTSPOTS
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 course. 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.
Reasons why property in Turkey is a good investment
- Turkey is just entering the EU process which means there remains another 5-10 years of European investor interest in property.
- Turkey is just at the beginning of a property boom.
- Turkish economy is very strong and still growing.
- Stunning beaches and climate make it a very popular holiday destination.
- You can still find excellent front-line properties for excellent value for money with high capital growth potential.
- Turkish summers are a lot longer than in many other EU destinations, offering more hours of sunshine per annum.
- Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for re-sales.
- Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market.
- Over 25 million tourists visit Turkey each year boosting the property market and creating strong “buy to let” possibilities.
- Low cost of living and long summers make it a favorite retirement spot for the Europeans.
- Huge golf tourism evolving in Antalya which will increase the value of any investment
- Turkey offers a modern infrastructure.
- Turkey is considered to be a highly dynamic country by the World Trade Organisation.
- Land prices are on the increase while the property market evolves.
- No capital gains tax after 4 years.
- High capital growth is projected.
- High tourist numbers are going to increase.
- Mortgages are now available to foreign buyers.
Turkey is one of the brightest property investment hot-spots in the emerging overseas property market today and promises a bright future. Property prices are expected to rise if Turkey joins the EU as forecasted. The property market is in its initial stages of development, similar to Spain 5-10 years ago, and value for money is currently excellent. Certain areas, such as Istanbul, Dalaman, Antalya and beach-front properties are expected to see the greatest yields in the near future.
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