Posted on 14 February 2011
Investing in property in Turkish coastal areas
According to a leading British tour operator, Turkey has knocked Spain off the top spot in terms of being the most popular summer holiday destination for Britons in 2008.
This may not seem so significant, until one remembers that Spain had dominated that top spot for the past 30 years. It seems that the appeal of Turkey is rising and rising and in the words of the Association of British Travel Agents, Turkey is enjoying “spectacular growth,” according to Rhiannon Davies from Shelter Offshore, an online publication.
The World Travel and Tourism Council predicts that Turkey’s period of growth has really only just begun. They predict that over the coming decade the rate of growth in the tourism sector will reach at least 5 percent annually, which is fantastic news for a nation that is already seeing its economy go from strength to strength.
In recent weeks the nation’s currency has slightly recovered from deep falls against the dollar, and as Turkey continues its slow but steady march towards European Union entry, doing everything that is required of it to secure entry, international confidence is rising in this nation.
In the interim, however, the Turkish economy is considered emerging, the nation is largely cash driven and therefore property prices remain low. Mortgages are expected to boost the market, and as big name property developers such as Dubai’s Emaar Properties enter the real estate market, so internationally speaking, interest in Turkey’s brand new and exciting property market is increasing.
All of these positive factors mean that for anyone with a relatively small amount of capital that they want to invest, Turkey could make a very exciting and potentially profitable choice. You can buy in today at a low price, (apartments in coastal areas start from just 35,000 pounds), benefit from one of the first mortgages, rent out your home to the increasing tourism demand and ultimately profit from your property when you come to sell it as it will have likely risen in price as demand for real estate increases and values rise in line with this demand.
For a low cost, low risk entry into property investing, Turkey makes a fantastic choice. What’s more, there is no denying the level of interest in Turkey as a holiday and an investment location, therefore an investor buying in today is not leading the field and therefore shouldering all the risk, they would just be getting in on an early wave of real estate demand. They probably stand the best chance of riding the wave of rising property market success in Turkey, which is why property in Turkey is a good investment to consider.
Hurriyet 1 April 2009