There has been growing demand for buying real estate in Turkey since properties in other Mediterranean locations are becoming costly and the markets are now saturated.
Turkey is almost set to become a favorite destination to buy real estate and is being talked about as perhaps the world's best property investment opportunity.
The advantages of buying property here, whether it's for a holiday home, a permanent home or just as an investment, can be summarised as follows:
- Stunning climate
Hot summers and mild winters are ideal for year-round outdoor living.
- Breathtaking beaches
2003 - Turkey had 140 'Blue Flag' beaches - 7th in Europe for certified beaches
- Rich cultural heritage
There's so much to discover - from the Temple of Artemis, to the vast Roman ruins at Ephesus .
- Low Cost of Living
- Property prices are steadily increasing and there is likely to be a significant difference between the acquisition cost and the money you will get when the property is sold.
- Off Plan Purchase assuring the lowest deals at the right time
- A thriving tourist location generating outstanding letting potential - Property is likely to amortise its acquisition cost within at most 8 - 12 years if it is rented out properly.
- Low crime rate.
- People in Turkey are warm and hospitable to all foreigners.
- The state is fair to all residents regardless of their religion, social background, ethnicity, gender and culture.
Factors likely to push future property prices up include:
- Entry into the EU - the Istanbul stock market soared to record heights when membership negotiations began in Autumn 2005.
- 19 million tourists visit Turkey each year. Between 2004 and 2005 the numbers increased by 14.6% and this is expected to continue to rise.
- Future projects including the creation of new areas for sporting excellence, health tourism areas and international sporting events such as future Olympics, Formula 1 etc.
Taking into account the above and the expected future developments in the property market, investment in real estate is highly likely to yield substantial gains for investors.