Turkey has seen explosive growth in foreign real estate investment over the last 3 years which has led to real estate and land prices, especially in the coastal regions rising by up to 200% (and some areas more than this).
Many investors compare Turkey with how Spain and the Balearic islands were 20 years ago, and we all know about Spanish real estate prices now.
There are several reasons for this influx of foreign real estate buyers.Prices - even with the large increases in price over the last few years, Turkey still has some of the lowest real estate prices in Europe.
You can still purchase a villa below £35,000 or an apartment for much less.Climate - coastal Turkey offers an excellent year round climate. Mild winters, gorgeous spring and autumn and hot summers.
E.E.C. - Turkey has applied to become a member of the E.E.C.(if membership is granted, real estate prices will soar).
Infrastructure - Turkey is investing heavily in transport links and communications. Coastal airports have had massive investment to expand and cope with the increasing number of visitors.
Economy - Over the last few years the economy has stabilised and Turkey is now (according to the World Trade Organisation) one of the 20 most dynamic countries in world trade.
Holiday Destination - Turkey is now a major European holiday destination, which gives an excellent opportunity to realise very good rental returns on real estate. Turkey really is the place where east meets west, with an amazing history and hundreds of historical sites to visit.
Local prices - for food and local services, prices are very low compared to the rest of Europe. Eating out is very inexpensive and the food, whether you eat in a small cafe or the smartest restaurant is normally superb.
Turkey is a paradise of sun, sea, mountains,
and lakes that offers the vacationer a complete change from the stress and
routine of everyday life. From April to October, most places in Turkey have an
ideal climate that is perfect for relaxing on sandy beaches or enjoying the
tranquility of mountains and lakes.
Turkey also has a magnificent past, and is a land full of historic treasures
from 13 successive civilizations spanning 10,000 years. Even if you spend only a
short time in Turkey, you can see a lot of this great heritage.
There is no doubt that one visit will not be enough, and you will want to come
back again and again as you discover one extraordinary place after another. All
of them, no matter how different, have one thing in common: the friendly and
hospitable people of this unique country.
Remember that there are 3 great cuisines in
the World. French, Chinese and Turkish.
Crime - One of the lowest crime rates in the World.
Lastly, the Turkish people. The friendliest and most hospitable people in the world.
All of the above make Turkey one of the best
places to invest in real estate at this
time.