Turkey Property Market is Showing No Signs of Slowing Down
Turkey an emerging country with much potencial has been highly developing over the last decade, from government policies to tourism, to the housing and construction market, Turkey has become the 6th largest economy in Europe and the 16th largest in the world.
While there were 23 million visitors coming to Turkey in year 2006, the latest figures show 41 million incoming toursits, an astonishing 80% increase in year 2015.
From 4 billion Euro to 52 billion Euro, the large income line item from tourism has been good to everyone including a variety of sectors.
While everything in Turkey is increasing at a fast pace, property values too have been on the rise over a short period of 5 years, rising for more than 300%. The real estate market within a growing young population and domestic demand shows that owing a real estate in Turkey is providing incredible capitol returns just over a few years time.
While foreigners total real estate purchase in 2013 was 12 thousand 181, there has been an increase of 55.6% in 2014 to 18 thousand 959, and compared to the same period in 2014 the year 2015 sales were upto 22 thousand 830 an increase of 20.4%. It is expected that over 30 thousand foreigners will buy in the Turkey property market in year 2016 an overall increase of 31.4% compared from year 2015.
For an increasing number of foreign investors in overseas property, the opportunity to experience a new culture, not just foreigners in a hotter climate, is an important factor. Perhaps that is why Turkey - embracing Europe and Asia - has become an increasingly achievable choice for foreigner purchasers in recent years.
Predominantly, the overseas property purchase interest in Turkey is centered on its southern coastline. On the Mediterranean coast it is the areas surrounding Antalya, Along with Belek, Side, and Alanya, where much of the initial overseas interest in Turkish propeties are concentrated. While these areas are all still popular with foreign buyers, a growing number are also now looking to the stretch of Mediterranean coast that runs past Kemer, Kas and Fethiye.
Both coasts offer a mixture of different lifestyles depending on the resort, from relaxed (Adrasan) to lively and sporty (Side and Belek which is fastly becoming Turkey's golf capital). What's more, no matter which resort you choose to settle in, there are two things you can be sure of - the good weather will be hot and the propery most affordable.
Tempuratures in the southern Mediterranean beach resorts average around 23 degrees annually, and almost 40 degrees in summer. A new two-bedroom apartment in a quality resort is likely to start at 60,000 Euro.
Turkey is certainly an intriguing country, and ideal for sun worshippers as much as it is for culture enthusiasts. And while the Turkish property market is still below the prices in Spain, Italy and Portugal, buying a home in Turkey is a profitable experince, along to mention the continous rental income it provides.