Interest in buying property in Turkey is without doubt on the up for many reasons. Its a fact that interest in Turkish property has surged in 2013. . Turkey has outperformed the rest of Europe and comes sixth in the world in terms of property value growth, following Dubai, China, Hong Kong, Taiwan and Indonesia. Pretty impressive!
According to Knight Frank’s latest global house price report, the average price of residential property in Turkey has increased by 12.5 per cent in the past 12 months thanks primarily to overseas demand
Turkey’s economic growth has actually exceeded most financial experts expectations and with unemployment low and the populations of cities like Istanbul having greater spending power, demand for property is likely to rise from domestic as well as overseas buyers. The clear advantage for overseas investors seeking a region to invest unlike other fast growing property markets like China, there is no sign yet that Turkey is overheating. Economic growth has proved to be sustainable and the Turkish economy is on track to reach 4 per cent annual growth by the end of this year.Information and advice on property for sale in Turkey
Foreign currency and Turkey
With the Turkish lira hovering around record lows against the pound, the cost of living in Turkey has become especially good value for British expats and homeowners, making it an attractive destination. Meanwhile, the country has been tipped as a future global economic powerhouse along with Mexico, Indonesia and Nigeria, together making the ‘MINT’ nations. Turkey arguably offers more exciting investment potential than other more established Mediterranean destinations.
Is it possible for overseas buyers to buy property Turkey?
Foreign citizens may purchase freehold land and property in their own names in Turkey providing that Turkish citizens are allowed to buy freehold land and property in the purchaser’s country of originor residence. This allows UK citizens to buy in Turkey. You will however need to obtain Government approval from the relevant municipality before purchasing a property. This is because specific areas within Turkey are zoned for strategic importance and you may not build or buy property in these preserved zones.
Two areas that should be researched by overseas buyers considering buying for a second home abroad are Fethiye and Antalya
Fethiye is one of the top tourist resort towns in Turkey; it is also located near more top tourist spots, the famous OluDeniz beach and only 20mins away from Dalaman airport.
Luxury Fethiye properties have always had a powerful marketing package making it very popular with holiday home buyers and investors.
Video guide to Fethiye
Luxury Antalya properties lead the way when it comes to foreign property investments in Turkey and this is no surprise.
Antalya has been a popular tourist destination for some time now, with its 640 km of Mediterranean coast, some 300 five-star hotels and 10 million tourists it hosts every year, it is clearly irresistible.
Antalya city tour
You can get the feel of Antalya from this video that takes a driver ey view of city.