With a steady increase in annual tourism , Turkey is experiencing an unprecedented level of international exposure and this is, in turn is 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%.
When the Turkish law changes to allow mortgage facilities to become more widely available, property prices are expected to continue to rise accordingly.
Why Invest In Turkey Property? ·The Turkish economy is very strong with 5.
5% GDP growth in 2005 ·Stunning beaches and climate make it a very popular holiday destination ·Turkish summers are a lot longer than many other EU destinations offeringmore 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 resale.
·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 favourite retirement spot for the Europeans ·Turkey is considered to be a highly dynamic country by the World Trade organisation Turkey Investment Keyfacts 1.
Investment Area: 2.
Altinkum, Akbuk 3.
Opportunity: 4.
Emerging market offering outstanding value for money.
Solid capital growth and rental returns are expected to continue.
Best bargains can be found just outside of the most popular areas.
5.
Rental Potential: 6.
Yield - 6-10% 7.
Finance: 8.
Mortgages not currently available to foreign buyers.
Indications are that this is set to change soon.
9.
Political: 10.
Parliamentary Democracy - Stable