Turkey has a large and fast expanding tourist industry that looks set to continue to grow creating even more demand for quality accommodation - ideal for off-plan property investors.
Turkey has stunning beaches and a climate that far surpasses many of Europe’s most popular holiday destinations.
Property prices in Turkey are very competitive and all indications show that Turkish property will appreciate rapidly with the introduction of more flights, mortgages as well as a more mature EU application.
Property in Turkey also has an extra appeal to investors: with a huge Turkish population of around 70 million, there is massive demand for property from within Turkey so the market is not totally reliant on foreign investment. If the Turkish EU application is successful then internal demand for quality accommodation in the best locations will be even greater.
Natural, Cultural and Economic Factors
• Stunning beaches and climate make it a very popular and well tested holiday destination.• Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum.
• Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for resales.
• Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market.
• Life in Turkey is easy and inexpensive. Low cost of living and long summers make it a favorite retirement spot for the Europeans.
• The Turkish economy is very strong with 5.5% GDP growth in 2005
• Over 25 million tourists visit Turkey each year boosting the property market and creating strong buy-to-let possibilities
• Turkey is considered to be a highly dynamic country by the World Trade organisation