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Property Turkey - A Low Risk Long Term Investment Market

With Turkish property prices currently a fraction of those in other Mediterranean resorts such as the Costa del Sol, and an annual influx of over 20 million visitors, Turkey is frequently tipped as one of the most dynamic emerging property markets in Europe.

An Established Tourist Market

Turkey has been a package holiday favourite for more than twenty years due to its stunning natural beauty and a climate that far surpasses many of Europe's most popular holiday destinations. For these reasons alone, it will always experience increasing demand for properties.

Of 10 countries studied by the World Tourism Organisation (UNWTO), Turkey achieved the highest growth in tourism income from 2004 to 2005 with its tourism income increasing from €12.7 billion to €14.9 billion, a solid growth of 14%, while tourism income during 2005 rose by over 20%.

The tourism industry continues to grow at an impressive rate, with 2007 set to see tourist figures rise further as the low cost airlines extend their services to Turkish airports, ensuring that it will become an established tourism hub of the future. In addition, a staggering US$120 million has been allocated to the overseas promotion of Turkey as of 2007, which is sure to attract yet more visitors to the country.

The World Travel and Tourism Council recently predicted that in the next decade Turkey's already healthy tourism market will double in terms of economic activity. This, in turn, will result in strong Gross Domestic Product (GDP) growth, the further creation of jobs in the country and the attraction of exceptional levels of Foreign Direct Investment (FDI).

A Steady Economy

Turkey's economy, a mix of modern industry and commerce alongside a traditional agricultural sector, is currently bullish in all areas. The World Trade Organisation states that Turkey is one of the most dynamic countries in world trade; exports are booming and inflation has decreased markedly.

The country's growth rates are equally impressive: GDP grew an average of Figures from the Turkish 7.5% per year from 2002 through to 2005, one of the highest sustained rates of government show that growth in the world at the time.

2006 saw GDP at a healthy 6.1%; this is set to rise to 6.3% by 2008, according to estimates from the OECD. This growth rate is high compared to many member states of the OECD, and suggests a further growth in Turkey's economy in the future.

Property Market in Turkey

The property market in Turkey, which is already firmly in the ascent, is widely believed to be approaching a 'boom' period. Property investors are keen to capitalise on the expected boom while property is still cheap, suggesting that this is a prime time to buy property in Turkey.

Prices in many coastal resorts have doubled in the last two years alone and yet there is no discernible slow down on the horizon. This is due both to the ever-increasing tourism market and the burgeoning domestic market in search of holiday properties.

Property Hot Spots in Turkey

The south coast is one of the main areas for foreign investment and is home to a number of resort areas that make up the Turkish Riviera. These are enjoying increased development, along with the improvements to amenities and infrastructure that comes with such development, and subsequently rising real estate prices.

The area's tourism industry shows the signs of stable and sustained growth. Many investment experts predict a 30 to 40% rate of capital appreciation over the next two years in the beach areas of Turkey.

With a growing number of visitors, the buy-to-let market is also looking promising for investors who are keen to profit from the substantial rental returns that stand to be made.

There is also interest in real estate in Metropolitan zones in Turkey such as Istanbul and Ankara, from investors looking for alternatives to the popular coastal areas. The local economies in Istanbul and Ankara are growing and there is a high level of domestic purchasing power, with high demand for rentals of residential real estate as well as commercial and office space.

Fair Deal Investment Property Turkey

Property in Turkey also has an additional appeal to investors as the country has a population of over 70 million people. Given that 70% of this massive population is below 30 in age, and the population is growing by around 2% annually, the country has a very strong local property market for residential real estate. Therefore, investors do not have to rely entirely on the international market for resales.

Turkey's property market received a further boost with the passing of a bill in Turkish parliament in February of this year that will make mortgages accessible in the country for the first time.

Global Property Investment Network

Our Global Property Investment Network is highly regarded for sourcing carefully selected Turkey property investments. In addition, our clients have access to advice and research on investment properties in Turkey from our product experts.

Our mission is to identify the most lucrative opportunities currently available in Turkey and tailor them to your property investment requirements. Our investment property researchers are constantly monitoring the investment property market in Turkey and are in regular contact with developers and promoters not only in Turkey but across the world.

Property Turkey: Due Diligence

All property in Turkey, be it for investment purposes or as a second / holiday home that we recommend have passed strict due diligence procedures. Our country and investment reports is packed with properly researched, up-to-the-minute professional advice on the very latest Turkey property investment options available.

Property Investment News for Turkey

Visit our Turkish property news section for the latest news on real estate and property investment in Turkey! Our news pages will keep you informed about the latest Turkish property investment and real estate news.