Turkey on the up - Emerging Real Estate

Turkey on the up

17/10/2010

 Turkey on the up

Many people think of Turkey as a possible holiday destination, offering 300+ days of sunshine throughout the year, beautiful beaches and one of the richest and oldest cultures in Europe. However, the rise of Turkey as a real estate investment opportunity has resulted in a lot of investors looking beyond the aesthetics and discovering that not only are property values increasing by up to 20% every year, but that the logistics of purchasing Turkish property is relatively hassle-free.

So why is Turkey becoming increasingly popular as a place to invest?  Well, there are several reasons but the fact that the country has now begun the process of obtaining EU membership is always a good indicator of increasing business opportunities – particularly for those ahead of the game. Tourism is big business in Turkey and is an industry on the rise in the country with more and more flight routes and better road connections being added all the time, allowing tourists to spend more time in the country and to see more of the country while they are there. And as tourism increases, there will be more and more demand for high quality accommodation.

Add in to this Turkey’s population which is over 70 million and the domestic market comes in to play too – essentially the country does not have to rely on foreign investment. This is further backed up when you consider that 70% of the Turkish population is under 30, resulting in a strong local market. On the other hand, foreign retirees should be aware of the comparably low cost of living and the promise of long sun filled summers.

Finally, for those investors interested in buy-to-let opportunities, consider the fact that over 25 million tourists arrive every year to experience the beaches and culture of ancient Turkey and this number is widely expected to grow and keep growing. Also, a successful EU application would no doubt result in a dramatic increase in demand for quality accommodation in the best locations.

If you would like to have a chat with us concerning Turkey and the opportunities for investment, then please do not hesitate to get in touch – www.emergingrealestate.com