Turkey is currently among the top ten destinations for those looking to invest in overseas property, according some independent property advisors.
As an aspiring member of the EU, Turkey attracts investors looking to profit from a success story in the making.
Turkey has stunning beaches and a climate that far surpasses many of Europe’s most popular holiday destinations.
Turkey is known for its unique and very diverse natural features. Turquoise water laps the beaches of the Mediterranean and Aegean coasts as they bask in the hot summer sunshine. While the Black Sea coast is far less explored but wetter and richer in vegetation, at the moment this area is largely devoted to agriculture and is rarely explored by tourists.
To know Turkey would take you a lifetime. This is country is so rich in places to go and things for tourists to see – from the hot springs at Pammukele (known as cotton castle) to the magnificent mosques of Istanbul, there is something for everyone.
The climate in Turkey is second to none and this is the reason behind the success of its tourism industry. The summer is warm and very reliable, bringing sun worshipers from all over the world to its beautiful coastlines. Temperatures range from around 21°C in April to a very hot 31°C in the mid-summer months of July and August.
Turkish Airlines also provides a large network of domestic flights from the international airports of Istanbul, Ankara, Izmir, Adana, Trabzon, Dalaman and Antalya to all of the major Turkish cities. Excellent bus connections serve all airports and city terminals. Major airports in Turkey include: Istanbul (Atatürk and Sabiha Gökcen), Ankara (Esenboga), Izmir (Adnan Menderes), Adana, Trabzon, Van Erzurum, Bursa, Samsun, Antalya, Dalaman and Milas-Bodrum.
Reasons to Buy Property in Turkey
1: Housing is cheap compared to other countries
The real estate market of Turkey was late to enter the international market; hence the low prices of homes quickly attract foreigners from many different nationalities. Luxury properties are available, but in everyday towns like Altinkum on the Aegean coast, a 2-bedroom furnished apartment is quite easy to find for buyers with a budget of £45,000. Low prices have enabled many customers to buy the property outright without mortgages or bank credit.
2: There is a massive portfolio to tap into
The growth of the real estate market and recognition of talented architects has boosted the property portfolio of Turkey to an incredibly diverse status. Foreign buyers have extensive choices of budget and luxury, off plan, new build, resale, and renovation apartments and villas. From the basic and budget to luxury homes with sea views and all the latest modern amenities, such is the diversity; buyers do not have to compromise on their dream a home in the sun.
3: Ideal for long term investment
For those who are looking for a long-term investment, these prices have potential to offer a lucrative return on investment. Experts often recommend that the real estate market is the best long-term investment to make, but buyers in Turkey have added advantages over other countries such as Spain or Cyprus, where property prices have already peaked. With annual maintenance and upkeep, a well looked after property in Turkey has mass potential for return on long term investment.
4: The lifestyle is laid back
Thousands of Brits have already bought homes in Turkey, and although the low property prices are a big lure, the laidback lifestyle undoubtedly lures them here for permanent living. Most prefer the coastal towns of the Aegean and Mediterranean so they can indulge in seaside living, but other places like the mountainous Uzumlu and inland towns of Ovacik and Hisaronu have also proved to be a hit.
5: The cost of living is low
For buyers living here, one reason for buying property in Turkey was the low cost of living. Pensioners are especially getting a good deal because the exchange rate from their currency into Turkish lira is netting them more than the average cost of living.
Although red meat and petrol are expensive, the weekly shop can turn out to be cheap if visiting the local markets for items such as fruit, vegetables, cheese and olives. Regarding household bills, there is no television license, the council tax is a minute fraction of what it is in the UK, and facilities such as water can cost as little as £7 a month depending on usage.
6: Location, location, location
Turkey is the 37th largest country in the world and a mass of towns scattered from the east to the west attract foreign buyers. Most settle on the Aegean and Mediterranean coasts apart from Istanbul, which tends to attract working expats.
Popular places include the Bodrum peninsula, often visited by wealthy, international celebrities and Fethiye, that is particularly scenic. Altinkum has attracted British people thanks to its atmosphere nicknamed little Britain while Antalya is more European in its lifestyle approach. Dalaman is less spoken about however for the foreign property buyers there, it does feel like being at home.
7: The food, culture and hospitality
Aside from the laid back lifestyle and low cost of living, customers have also quoted the Turkish food, culture and hospitality as major reasons to buy property in Turkey. The cuisine still focuses heavily on fresh ingredients to make delicious home-cooked meals, and it is like a Mediterranean diet, often called the healthiest in the world.
Turkish culture and hospitality also embrace foreigners, and an age-old proverb says every stranger is a friend. The result is that many different nationalities feel welcome in the country and enjoy indulging in a new cuisine focused heavily on healthy eating.
8: A simplified buying process
Foreigners were first able to buy property in 2001, and since then authorities have continually revised and simplified the process to attract investment in the housing market from overseas.
Elite Citizenship & Investment is able to assist you further in finding the right property having better return on investment.