Whether you’re looking for a place in the sun, a well-priced villa in a beautiful country, or you’re just looking for somewhere off the beaten track, buying property in Turkey is always worth considering.
If you’ve been looking for international property for sale for a while, Turkey may not have been your first choice of country in which to buy. It is, however, a region full of stunning countryside, historic significance, and a growing economy that investors are confident will continue to grow. The country is home to long stretches of perfect white sand beaches along the Mediterranean and Aegean Seas, and as it’s on the southern side of the Mediterranean the weather is warm year-round.
So, why is now the perfect time to be buying property in Turkey?
The Turkish Property Market is Growing
Many of the towns along the Turkish Mediterranean coast have growing property markets that still offer great value if you’re buying property in Turkey. What might get you a small apartment inland in Spain could afford you a sea view villa in Turkey!
As many of these markets still have huge growth potential, investing in a villa in one of these towns now might mean that you can make a good profit if you eventually want to sell it again. There is also a strong rental market in places like Bodrum and Belek, which enables you to make money on your property in the periods that you aren’t there.
If you’re on the hunt for a good investment, buying property in Turkey is a solid bet in 2021 as it’s likely property will only gain value from here.
There are Plenty of New Developments
The Turkish Government have recently implemented schemes to encourage growth in the Turkish property industry, and experts have agreed that the Turkish property market is looking at a long period of stability ahead. The Turkish government hopes to attract new buyers both locally and internationally, and they have approved many new developments to that end.
These new developments mean you can invest in a home that is truly your own. Whether you buy key ready property, or you buy off-plan, you can own a beautiful property in a popular resort like Bodrum, Fethiye, or Antalya. In terms of buying property in Turkey, the new developments offer luxury properties in popular European holiday destinations.
Fall of the Turkish Lira
The Turkish Lira is normally a strong currency due to the robust local economy, but over the last few months, we have seen the currency begin a decline that means investors looking to buy property in Turkey are looking at an ideal moment to do so.
While low-interest rates on mortgages have been encouraging young Turks to buy homes, the fall of the Lira means more hesitancy locally. For international investors, this is a great time to buy property for sale in Turkey. The currency will undoubtedly recover in time, which is great news for the potential future sale of the property.
If you dream of buying property in Turkey, it might be that there’s no better time than now to do so.
Buying Property in Turkey for the Cost of Living
Turkey is a land of superb food, low cost of living, and sunny weather. Who wouldn’t want to live there? The day to day cost of life in Turkey is inevitably going to be less than it might be in Spain, Portugal or France. If you’re looking for a place in the sun, buying property in Turkey is an excellent choice.
The overhead charges in Turkey are lower than elsewhere, with cheap water and electricity. The taxes you’ll be liable for are lower than you’ll find over in Spain too, so running costs in Turkey are far less of a hassle than they might be elsewhere. This is without even factoring in the cost of bars, restaurants, and shops.
The Citizenship Via Investment Scheme
While this scheme isn’t open for everybody, (you have to be investing in a property that’s worth enough to cross the lower threshold), it is far easier to qualify for than some others you might find on the Mediterranean coast. The scheme means that if you invest in the country, you earn the right to live and work there as a local.
This is a huge benefit to those looking to retire or relocate to sunnier climes altogether. You’ll need to keep your home for more than three years to qualify completely, as well as buying a property worth over £200,000, but if you sail through those hoops you’re home free!
It’s a great scheme for international buyers from across the globe, especially those hoping to relocate, whether for climate, safety, or economic reasons. The citizenship via investment scheme will enable you to do that, with minimal fuss.
Whatever you’re looking for, be it buying property in Turkey, Spain, Portugal or elsewhere, take a look at our selection of property for sale. Don’t hesitate to drop us an email, or a phone call, if you’re interested in finding out more about any of our properties.