Property in Turkey is experiencing something of its own little boom, and it is not difficult to see why. As one of the fastest-growing economies in the world, in one of the most geographically beautiful countries, with a wealth of culture and some of the most popular tourist resorts in Europe, it is not hard to understand why Turkey’s property market would be excelling. Recently, there have been a whole host of other reasons why Turkish real estate is exciting buyers, with foreign investors taking a special interest in the country.
Turkey’s Boost for Foreign Investors
Since a bill was passed in May 2012 to remove the ‘reciprocity’ law from property (which meant that foreign nationals could only purchase Turkish real estate if it were legal for Turkish people to do the same in their home country), the property market has been open season for all who wish to visit. The bill effectively flung open the doors to a brand new market of investors and buyers looking for real estate for sale in Turkey, who have taken a keen interested in the country’s flourishing property industry.
Foreign investors have also been handed a welcome boost from the government in the form of a residential pass. When they remain in Turkey for three months on investment business, they are automatically handed a one-year residency permit, which allows them to fully scope out more opportunity for investment in the country.
Increased international flights in and out of Turkey are also helping its economy, its tourist trade and its investment market. Countries such as Denmark, Sweden, Holland and Belgium are now easily accessible from Turkey, bringing in investors and property buyers from a huge number of different backgrounds. Turkey is becoming a veritable melting pot of exciting cultures thanks to its appeal to investors from other countries.
There is real estate in Turkey that can satisfy even those with the keenest eye for a bargain. There are those which are ideal for investment, and properties which make wonderful temporary homes for half of the year. There is property for sale in Ankara and Bursa, two of Turkey’s most beautiful cities, and there is property for sale in Istanbul, which is fast becoming one of the world’s financial hotspots as a result of a thriving Turkish economy.
The beauty of the Turkey real estate market is that there is something for everyone. Istanbul is becoming a hub for business and commerce, and functioning in its old role (when it was Constantinople) as the gateway between Europe and Asia, making it a perfect place to invest in future commerce opportunities. There are beautiful tourist hotspots such as Bodrum which always welcome investment and which tend to see a great return on that investment during the holiday season every year; Turkey remains very much a luxury destination for holidays, and whilst the weather is good and the scenery magnificent, tourists will come.
The type of properties themselves as also varied; from one-bedroomed apartments overlooking the sea at Antalya or Akbuk, to the sprawling luxury properties that are found near Gocek and Kalkan, any investor, whether they are looking for business or leisure opportunities, will find what they are looking for in Turkey.