Turkey property investment hits the favourites list

With the town planners restricting high rise and vastly dense developments to avoid the mistakes of the Spanish Costa’s, Turkey is proving to be a major winner when it comes to low property prices, guaranteed rents and profitable returns. In addition a White Paper has been issued by the Ministry of Forest and Agriculture in Turkey, spanning the major tourist areas, which gives guidelines on planning restrictions up to 2025.

Some 17,000 Brits have already chosen Turkey as a favoured choice when it comes to purchasing property overseas. According to Principal International, one of the UK’s leading overseas property experts its not just holiday home buyers that are interested in the Turkish charm, investors are reaping the rewards with the ever increasing numbers of tourists visiting Turkey each year. It’s a well know fact that good overseas property investment is fast following the low cost airline carrier routes and Turkey is no exception. With plans to reopen and renovate some of the smaller airports to open up links between resorts, it will become a major gateway to International travellers.

The World Travel and Tourism Council has said that it expects tourism activity to grow significantly between now and 2016, partly due to the governments commitment to expansion of the tourism industry and the international promotion of many of its resorts over the coming years.

Unlike some of its competitor countries, finance is becoming widely available in Turkey, and over the coming months the government has guaranteed to implement significant legislation to ensure the mortgage market in Turkey remains competitive and open to foreign investment.

The question is; why buy now? There is no doubt that prices here still remain hugely competitive, Principal International are currently offering 2 bedroom apartments from £55,000 with a 3 year rental guarantee, this will no doubt change in the future when Turkey fulfils its desire and becomes part of the EU. We can expect to see prices rise to follow the trends set by other European countries such as Cyprus that joined this year.

The economy of the country is certainly heading in the right direction fuelled by the significant international and private investment coming from businesses and corporations who are establishing themselves ahead of the EU acceptance. Despite this, the cost of living is still low and quality healthcare is available at affordable prices with well trained multi lingual staff.