When it comes to finding the best property investment potential in the world all eyes have turned to Turkey since the country began talks towards achieving EU accession and the Turkish economy officially became a market economy.
The future prospects for Turkey are very positive indeed and this translates well and directly to the Turkish property market where investor interest has surged throughout 2005 and where property prices are beginning to creep up fast.
While property prices in parts of Turkey may be about 10 years behind those in Spain for example, this trend is starting to change because the levels of interest in Turkish property have surged particularly along the Riviera region in southern Turkey. And since it was announced that Turkey is now on target for EU accession investor confidence in Turkey has reached an all time high.
Turkey has long dreamed of a place in Europe and has made a concerted effort in recent years to change legislation, practices and regimes to align the country more with its European neighbours. Cleary this has worked to Turkey’s political advantage but it has also worked well economically for the country. As Turkish resorts begin to feel more Southern European in their flavour so their attraction intensifies with European visitors - and tourism numbers in Turkey have increased substantially in the past five years as a direct result.
The Turkish tourism board are now spending a lot of money promoting the resorts along Turkey’s Mediterranean coast and as a result tourism, second home, holiday home and retirement home interest in these parts of Turkey have surged. For an investor this is highly encouraging. Those buying to let have more tourists interested in renting out their properties during Turkey’s long summer season - and as all investors will tell you, short term tourist lets can be highly lucrative. Those buying off plan at pre-construction prices are likely to find strong interest in the resale market for their properties when they come to completion from those who want to buy a holiday or retirement home in Turkey.
As the resorts in Turkey come up fast and more money is spent on improving roads, airports and general infrastructure so private investment is being poured into the creation of resorts, spas, golf courses and superior tourist facilities.
In Belek for example five golf courses have already been completed and five more are in the planning and creation stages. Money can be made through investing in such ventures and money can be made from the commercial side of property investment in Turkey by targeting tourist accommodation in the most popular resorts for example.
Investors looking to diversify away from Turkey’s hugely popular coastal regions are currently focused on Istanbul and Ankara where the local economies are vastly improved and where domestic purchasing power is strongest in Turkey. Here there is demand for apartments to let and commercial and office space to lease. Elsewhere the property investment opportunities are less well defined but as Turkey has already proven, given a little time and a great deal of personal and governmental effort the Turkish people can transform their economy and country and this can only bode well for the future prospects for all investors in Turkey and for the Turkish people as well.
Source:Amberlamb
The future prospects for Turkey are very positive indeed and this translates well and directly to the Turkish property market where investor interest has surged throughout 2005 and where property prices are beginning to creep up fast.
While property prices in parts of Turkey may be about 10 years behind those in Spain for example, this trend is starting to change because the levels of interest in Turkish property have surged particularly along the Riviera region in southern Turkey. And since it was announced that Turkey is now on target for EU accession investor confidence in Turkey has reached an all time high.
Turkey has long dreamed of a place in Europe and has made a concerted effort in recent years to change legislation, practices and regimes to align the country more with its European neighbours. Cleary this has worked to Turkey’s political advantage but it has also worked well economically for the country. As Turkish resorts begin to feel more Southern European in their flavour so their attraction intensifies with European visitors - and tourism numbers in Turkey have increased substantially in the past five years as a direct result.
The Turkish tourism board are now spending a lot of money promoting the resorts along Turkey’s Mediterranean coast and as a result tourism, second home, holiday home and retirement home interest in these parts of Turkey have surged. For an investor this is highly encouraging. Those buying to let have more tourists interested in renting out their properties during Turkey’s long summer season - and as all investors will tell you, short term tourist lets can be highly lucrative. Those buying off plan at pre-construction prices are likely to find strong interest in the resale market for their properties when they come to completion from those who want to buy a holiday or retirement home in Turkey.
As the resorts in Turkey come up fast and more money is spent on improving roads, airports and general infrastructure so private investment is being poured into the creation of resorts, spas, golf courses and superior tourist facilities.
In Belek for example five golf courses have already been completed and five more are in the planning and creation stages. Money can be made through investing in such ventures and money can be made from the commercial side of property investment in Turkey by targeting tourist accommodation in the most popular resorts for example.
Investors looking to diversify away from Turkey’s hugely popular coastal regions are currently focused on Istanbul and Ankara where the local economies are vastly improved and where domestic purchasing power is strongest in Turkey. Here there is demand for apartments to let and commercial and office space to lease. Elsewhere the property investment opportunities are less well defined but as Turkey has already proven, given a little time and a great deal of personal and governmental effort the Turkish people can transform their economy and country and this can only bode well for the future prospects for all investors in Turkey and for the Turkish people as well.
Source:Amberlamb
