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Turkey Property Investment For Sale

 

"Turkish property market buoyant and still climbing."

 

An ancient country steeped in history, Turkey conjures up images of balmy climes, exotic food, teaming souks, beautiful beaches and buzzing cities.  But Turkey is far more than a picture postcard holiday image and now it’s largely free-market economy offer a mix of agriculture, services and oil as well as the traditional textile and clothing sectors.  With a strong emerging middle class Turkey has been growing stronger and stronger year on year and due to it well-regulated financial markets and banking systems was able to weather the global financial crisis well, rebounding stronger than ever.

With its long summer, beautiful scenery and low living costs Turkey has fast become a popular holiday destination and more recently one of the top second home property investment hotspots

Given that the property markets in nations across the globe have suffered in recent years, Turkey is bucking the trend and the property market continues to rise strongly.  Prices are rising highest in the key cities such as the capital Ankara and Istanbul where the increase in commerce and the rising middle classes should continue to push demand.  Rental returns are also excellent here – especially for smaller apartments.

 

Country Guide

Geography

Despite popular opinion Turkey is a respectively green country. It is one of the biggest countries in the Middle East covering just under 800,000 square meters in total and the border with Syria is its longest border. Turkey neighbours Greece and Bulgaria on the North West, Armenia and Georgia on the North East, Iran and Iraq on the South East and Syria on the South. The country borders both the Aegean and Mediterranean Sea’s on opposite sides of the country. The highest mountain in Turkey is Mount Ararat, not far from Lake Van, the largest lake of the country. Turkey does have an earthquake fault line running across it in the north of the country and earthquakes can be relatively frequent.

Government

Turkey is a republican parliamentary democracy. Lead by a President and Prime Minister the Turkish parliament comprises 550 members who are elected for a five year term. 

Language

Turkish is the official language in Turkey spoken by 90% of the population. Minority languages such as Kurdish are spoken by around 6% of the population, although this language has never been recognized as an official language. 1.2% of the population in Turkey speaks Arabic and there are traces of Dimli, Azeri, Kabardian, Circassia, Greek, Armenian and Judezmo spoken throughout Turkey by minority groups. 

Standard of Living

In Turkey the standard of living is high and the relative to cost of living is low making it a highly popular retirement destination. A higher percentage of Turks are satisfied with their standard of living.

 

Country Economy

With it’s largely free-market economy Turkey's industry is a mix of agriculture, services and oil as well as the traditional textile and clothing sectors. Turkey has been growing stronger and stronger year on year and due to it well-regulated financial markets and banking systems was able to weather the global financial crisis well, rebounding stronger than ever.

 

Key Industries

Total exports of manufactured goods are higher than agricultural and mining products but chemicals, ferrous and non-ferrous metals and food products make up a significant share in Turkey's total exports.

Hotspots

Alanya

This seaside resort lies in the Mediterranean region of Turkey. The city has become an established tourist hotspot accounting for up to 9% of the country's tourist intake and 30% of the foreign purchases of real estate giving it promising investment prospects.  Damlata beach is a point of interest, famous for its dripping caves and fantastic display of stalagmites. Cleopatra Beach is, according to locals said to have derived its name from being part of Mark Antony's dowry to the Queen of Egypt.

Bodrum

Facing the Greek island of Kos, Bodrum is a port town and registered international centre for yachting and tourism. Offering a blend of artistic and tourist based attractions there is plenty of culture within this town. The international marina draws in many seafarers and boating fanatics and diving courses for all levels are available. The area is popular with Turks and Europeans looking to buy holiday and second homes. 

Dalaman

Dalaman lies on the south western coast of Turkey and has its own international airport.  The growth of citrus fruit plays an important role in the local economy as does the tourists draw to as yet uncommercialised natural beach. 

Didim

Situated on the western coast of Turkey, Didim is another coastal area that is showing increasing tourist interest. This town has great historical significance and is home to the ruins of the Temple of Apollo. The area has warm winters which aid its tourism industry and it is generally a very quiet resort, ideal for families. 

Fethiye and Kusadasi are also tipped to be good holiday investment hotspots. These coastline towns are not necessarily anymore attractive than others but offer a good infrastructure and are established tourist destinations with an existing expat community and regular international flights. 

Ankara and Istanbul

Whilst the coast offers numerous attractions for the second home owner the real investment opportunities lie closer to the capital, Ankara and the historic city of Istanbul.

Although Ankara is the second largest city behind Istanbul, it is the centre for government in Turkey and is an important base for industry and commerce as it lies at the centre of the country's road and rail links. The city also caters for a thriving student body with several universities and colleges.

Istanbul is a hugely important centre of historical culture across Turkey and the world. The city is the financial and industrial centre of the country thanks to its land and sea trade routes and accounts for 55% of all the country's trade. A large boom in population has led to rapid expansion more recently and the city thrives from its tourism.

Rental yields in both Ankara and Istanbul can be very high. 

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