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Information about Turkey for Property Buyers

Large image of Turkish beach

Turkey is a paradise of sun, sea, mountains and lakes and offers a complete change from the stress and routine of everyday life here in the UK. Due to the temperate climate it is perfect for relaxing on sandy beaches, enjoying walks in the tranquility of the mountains or experiencing the beauty of its lakes.

Turkey has a magnificent past, and is full of historic treasures from 13 successive civilizations spanning 10,000 years. No matter what length of time you spend there, you can see some small part of Turkey’s great heritage. A country for people of all ages, you can experience each of the four seasons on the same day in some parts of Turkey. During the spring months you can bask in the glorious sunshine while playing golf and swim in the Mediterranean Sea, and all after skiing in the morning on the lofty Taurus Mountain tops that line this lovely coast.

We find, once people have bought their dream property in Turkey, they return time and time again to discover one extraordinary place after another and to enjoy the friendliness and hospitality the people of this lovely country offer. Turkey is a vast country (the most easterly point of Turkey is nearly the same distance from Istanbul as London is!), about three and a half times larger than the whole of the United Kingdom and is mainly covered by forests, lakes, agricultural land and grasslands.

Turkey is surrounded by sea on three sides; the Black Sea to the north, the Mediterranean Sea to the south and the Aegean Sea to the west, and the coastline measures a staggering 5,000 miles! Istanbul is a 21st Century City and Newsweek claimed it to be “one of the coolest cities in the world.” It is a stunning and varied city and most definitely worth a visit.

Why Should You Buy Your Dream Property In Turkey?

Turkey offers everything: sun, sea, skiing, fantastic scenery, friendly people, value for money, freehold properties, low cost of living, potential EU accession and great investment opportunities with property prices increasing by 12.5% – 25% per annum (Source: Knight Frank-2007).

Investing In Your Future – What the Professional Investor Sees

A few interesting economic facts about Turkey and some of the reasons why this is one of the hottest locations for property investment:

  • Turkey is one of the fastest growing economies in the world.
  • Inflation has reduced from 70+% per annum in 2003 to 7.1% in 2007 and is forecasted to reduce even more to attain EU standards (Source: EUROSTAT, Turkish Statistics Institution, Central Bank of Turkey).
  • GDP increased by 6.1% in 2007 (Source: EUROSTAT, Turkish Statistics Institution, Central Bank of Turkey). Projected 6% GDP growth in 2008 (Source: International Monetary Fund).
  • Airlines flying from UK to Turkey include: BA; Easyjet; Fly Thomas Cook; Turkish Airlines, Turkish Cypriot Airlines; Onur Air; XL Airways; Avro; Lufthansa; Sun Express
  • The number of UK visitors to Turkey has increased by 14% during 2007 according to the Turkish Culture and Tourism Office (TCTO). From January to October 2007, 21.9 million tourists travelled to Turkey.
  • Turkey is the 17th largest economy in the world and one of the rare countries in the world that is completely self-sufficient.
  • Turkey has one of the most liberal foreign exchange regimes in the world. The New Turkish Lira is fully convertible and property owners and investors can freely transfer their capital or profits abroad.
  • The 10th Annual Global CEO Survey of PricewaterhouseCoopers projects that Turkey will continue to attract FDI inflows and outstrip economies of the current G7 (US, Japan, Germany, UK, France, Italy and Canada) by 2050. Over the last four years, the FDI has increased by 122%.

Turkish Property – On The Up And Up

Turkey is always preparing new laws and regulations in order to become a full member of the European Union and the expectation is it will take 6 to 8 years to reach full acceptance. Property prices in Turkey are already rising in anticipation of this, and are expected to continue to rise over the next 3 to 5 years (especially with new airports such as Gazipasa opening), eventually gaining parity with other European property price levels. Now is the right time to invest in Turkey and Spot Blue is here to help you every step of the way.

Where To Buy your Property In Turkey?

It depends whether you are buying a property in Turkey just for summer holidays, or for all year round use, winter breaks, investment, rental, or to live in when you retire.

The two most popular areas for non-residents to buy property in Turkey are: the Aegean Coast which is home to such places as  Cesme, Izmir, Kusadasi, Didim, Altinkum, Akbuk, the Bodrum Peninsula, Marmaris, Icmeler, Dalaman, Dalyan, Uzumlu, Hisaronu, Ölüdeniz, Calis, Ovacik, Fethiye and Gocek; or the Mediterranean Coast, home to: Kalkan, Kas, Kemer,  Antalya, Belek, Side, Manavgat, Avsallar, Alanya, Mahmutlar , Gazipasa and of course Istanbul.

Keep an open mind, because even if you know Turkey but have yet to buy a property there, it is perhaps worth considering the pros and cons of the two areas. Which area suits you best is, of course, largely dependant on why you are buying a property in Turkey.

Max Average Temperature °C

 JanFebMarAprMayJunJulAugSepOctNovDec
Mediterranean151518212530343431262117
Aegean121316212631333229241814
(Source: www.eurometeo.com)

Average Days Of Sun

 JanFebMarAprMayJunJulAugSepOctNovDec
Mediterranean222022233029303130292120
Aegean151320212829303130291819
Some Facts About Turkey You Probably Didn’t Know

  • Two of the Seven Wonders of the Ancient World stood in Turkey. They are the Temple of Artemis in Ephesus, and the Mausoleum at Halicarnassus in Bodrum.
  • Saint Nicholas (Santa Claus as we know him) was born and lived in Demre (Myra) on the Mediterranean coast. The village contains the famous church of St Nicholas, which houses the sarcophagus believed to be his tomb.
  • The first man ever to fly was Turkish. Using two wings, Hezarfan Ahmet Celebi flew from the Galata Tower over the Bosphorus to land in Uskudar in the 17th Century.
  • Mount Ararat (highest mountain in Turkey at about 17,000 ft) is where many archaeologists and Biblical scholars believe Noah’s Ark came to rest.
  • The famous Trojan War took place in Western Turkey, around the site where a wooden statue of the Trojan horse stands today.
  • Julius Caesar, upon defeating the Pontus in Turkey, issued his celebrated proclamation, Veni, Vidi, Vici (“I came, I saw, I conquered”)
  • Tradition has it that St. John brought the Virgin Mary to Ephesus in Turkey after the death of Jesus Christ. Both St. Paul and St. John preached in Ephesus.
  • Turkey is the birthplace of many historic figures and legends: The poet Homer, King Midas, Heredotus (the father of history), and St Paul the Apostle. The great poet Homer was born in Izmir on the Aegean coast of Turkey.
  • Writing was first used by people of ancient Turkey. The first clay tablets – in the ruins of Assyrian Karum – dating back to 1950 BC.
  • The oldest known human settlement in the world is located in Catalhoyuk, Turkey, dating back to 6500 B.C.
  • Pergamon, an ancient city in western Turkey, had more than 200,000 books in its celebrated library, second only to that in Alexandria, Egypt. Mark Anthony presented part of Turkey’s south western shore to Cleopatra as a wedding gift.
  • Turkey introduced the following to the world, Tulips (to the Dutch, starting the craze in Holland and England), coffee and yogurt (Yogurt is a Turkish word and an invention with Central Asian origin).
  • Turkey was one of the pioneers for women’s rights and equality (full suffrage 1934). Turkey had the first female Prime Minister in 1993. Recent statistics indicate that 50% of the professors and 30% of medical doctors in Turkey are women. On a % basis, Turkish women in some professions relative to the U.S.: 5 times more dentists, 3 times more architects, 50% more engineers, 50% more lawyers
  • Leonardo da Vinci drew the designs for a bridge over the Bosphorus in 1492. (Although da Vinci’s bridge was never built, there are now two bridges over the Bosphorus).

Why not call us and find out how to see the properties and locations for yourself? Telephone: +44 (0) 208 339 6036 or to email us, click here