Turkey is a unique and beautiful country – it has a fascinating and ancient history, breath-taking scenery, extremely hospitable people, great climate (over 300 days of sunshine a year), fantastic beaches, low cost-of-living – the list goes on and on. It has long been a popular holiday destination, attracting over 15 million visitors a year, and whilst it is now the 3rd most popular holiday destination in Europe, it still manages to retain it’s unique charm and natural beauty.
It is also fast becoming the best destination in the world for property value growth, with a property boom starting along the length of the Turkish Riveria. There has never been a better time to seriously consider purchasing property here, take a look at some of the facts:
- Turkey was voted as the 3rd best destination in the world to buy a property. (A Place in the Sun – Channel 4 television)
- Turkey was voted the best destination in the world for affordable, high earning growth. (A Place in the Sun – Channel 4 television)
- Turkey was voted the number one place to invest by International Property. (Inside Track the magazine for the professional property investor)
- Land prices have doubled in the last 2 years in the most popular areas and property prices have risen by 25% to 40% in the last year alone.
- Currently prices are running equivalent to 1998 Spanish prices for a similar build quality.
- Currently property along the Turkish Riviera is increasing at 2% per month.
- In 2005 tourism is expected to increase by 25%, making it a great place for rental income.
- The cost of living runs at around 30% - 40% of the rest of Europe.
- With a recent relaxation of the rules allowing foreigners to own real estate and a simple purchase procedure, over 42,000 Turkish properties were sold to overseas investors in 2003-2004.
- With a well-established tourism industry, foreign languages are widely spoken.
- With accession talks for Turkey’s entry to the EU underway, now is the time to buy while prices are still affordable.