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Investing in Turkish property

Turkey a good place for investment property

Turkey has been a good place to buy for foreign property owners in recent years, and it looks as if that trend will continue for the next few years at least. Turkey’s real estate has been traditionally undervalued and this has led to increased foreign purchases. Property values have appreciated significantly in the 21st Century, often in the double digits year over year. While this trend seems to be slowing somewhat, there should still be a considerable amount of appreciation in values in the years to come.

Turkish real estate remains a good investment for a number of reasons. Over the past few years the country has enacted a number of laws that make it easier for foreign purchasers to acquire land in Turkey. Foreign mortgages have also been easier to obtain, and a comprehensive mortgage bill that looks to be passed in parliament soon should help even more.

Turkey currently has an overall housing shortage and over half the population is under the age of 25. Both of these facts indicate that housing will be in strong demand for many years to come. The government has also committed to improving infrastructure throughout the country, which will, in addition to helping the citizens, increase tourism.

Currently, there are approximately 63,500 properties in Turkey that are owned by foreigners. A majority of these properties are either in resort areas along the coast or the major cities. The number one place for foreigners to purchase property is the resort town of Antalya along the Mediterranean Coast with 14,610 pieces of property owned by foreigners. Istanbul, the country’s largest city and a major business center, is second with 10,695. The Aegean resorts of Mugla, 8,251, Aydin, 5,839, and Izmir, with 4,572, round out the areas that have the largest number of foreign property investors and/or owners.

Nearly half of these property owners come from Germany and Britain. Both of these countries have in the neighborhood of 15,000 foreign owners of property in Turkey.

Turkish property hot spots

Alanya, Altinkum, Antalya,Belek near Antalya, Bodrum, Dalaman, Dalyan, Gocek , Kalkan, Kas ,Kaya Koy, Kemer, Kusadasi , Marmaris,  Ovacik & Hisaronu, Side, Uzumlu

Turkish property useful web sites

• Learn more about Turkey at About Turkey
• News Turkeys English Daily Turkish Daily News
• Thousands of links and guides at Turkey central
• Explore the history, learn about the regions,check the business categories Turkey resources at Yahoo
• Hundreds of pictures Turkey in pictures