Investment Guide

Investing, Buying and Living in Turkey a Property SunTurkey Guide
Turkey has many opportunities for the novice as well as theseasoned investor when it comes the property market. Turkey is recognised as onof the top destinations in the world for property value growth which despitethe worldwide economic downturn Turkey whilst not being immune in somelocations has now started to see not just the signs of recovery but real growthwith prices increasing in 2009 after a summer experiencing a substantialincrease in tourist numbers. 

The level of visitors and in particular villa and apartmentrental tourists, have started to fuel something of a boom as there is now adrastic undersupply of suitable holiday lets.

All the main tour operators have been taking on more andmore in preparation for the 2010 holiday season. It is certain now that anyinvestors waiting for their own countries economy to return to normal will surelymiss the boat in Turley as the Property Boom along the Mediterranean and AegeanCoasts is in its early days but will return with vigour in the coming months.

Demand for investment property in Turkey is on the increasethrough its considered importance in the business world as well as tourismsincreases.

In 2006 Turkeyattracted approximately 15 million visitors a year and the tourisminfrastructure established itself as the 3rd most popular holiday destinationin Europe.  A  report from the Turkish tourism office in 2006predicted that over 27 million tourists would  visit the country, making Turkey a great placefor rental income, these figures now in comparison to 2009 now look low, withthe numbers for 2009 exceeding 40 million and the property rental market is notbeing satisfied as the major construction companies reduced building work in anticipationof the downturn and now this is leaving an undersupply of suitable properties.

2010 is likely to be even worse or better depending on whichview is taken and which side you are on. Property owners will experience higher rental demands.  Property Sun Turkeys rental sister company inAntalya has not experienced such a large uptake of villas ever and numbers reportedback say they were unable to accommodate the majority of enquiries and couldhave rented the villas and apartments 10 times over.
 
A note of caution though is for a propertyto be in demand it is down to the old adage of Location,Location,Location ifnot property buyers will be left behind. At Property Sun Turkey we work withmany developers but reject many as well where developments that appear as absolutebargains are not always the bargain they appear.  We believe that giving an honest appraisal onthe rental potential is an equally important factor in the decision to buy aswell as ensuring all the legal aspects of a purchase are in place and thequality of the construction itself.  

The head of the Turkish Hotels Federation (TUROFED)predicted that 2008 will be a bumper year for the country's tourism sector.This in deed was the case and figures are now been collated for the presentseason and these look substantially increased

Ahmet Barut said (Wednesday, March 12th) that the comingyear could be even better than 2007 when Turkey received $18 billion from 23.5million tourists who came into the country.

He told the Anatolian News Agency: "In 2008, we expect27 million tourists to visit Turkey leaving behind revenues of over $20 billionUSD. Turkey will experience a record in the number of tourists arriving in thecountry."

This is good news for Turkey and for those owning a Turkeyinvestment property there, high quality holiday homes in tourist hotspots suchas Antalya, Bodrum and Fethiye will be in increased demand.

With many excellent facilities and English being widelyspoken and the relaxation of the rules allowing foreigners to own Turkish realestate, this boom is likely together pace for many more years.

Property Sun Turkey knows how important Turkey investmentproperty is becoming and how serious investing in Turkey will become.
This is the new hotspot that all the large propertyinvestment companies are taking seriously. Just have a look at some of these statisticsand make your own judgement.

InvestmentProperty in Turkey: Statistics
Land prices have doubled in the last 2 years in the mostpopular areas and property prices have risen by 25% to 40% in the last yearalone.

Currently prices are running at 1998 equivalent Spanishprices for a similar build quality.

Currently Turkey investment property along the TurkishRiviera is increasing at 2% per month.

Turkey achieved third place in the ‘A Place in the Sun’survey of The UK’s Top 20 overseas property destinations’ (survey published 17Jan 2008).  Turkey was also voted 3rd in2005 and 4th in 2006.  A consistentresult!  Thus demonstrating thatinvestment property in Turkey is a top choice for UK residents.

Turkey has also been named in the top ten of countries whereholiday homes are most in demand.  Thestudy, by Holiday Lettings, placed Turkey seventh in a list of 112 othernations. Turkey beat South Africa, the Canary Islands and Spain's BalearicIslands.

Turkey was recently ranked in eighth position in the WorldTourism Organisation's table of the world's highest earning tourism sectors(Mar 08).

Turkey was voted the number one place to invest byInternational Property. (Inside Track the magazine for the professionalproperty investor)

The Independent's Laura Howard named Turkey as the numberone location to purchase a home abroad (Mar 08).

These figures all show good times for Turkey but they arewhat has happened we now need to look at what is happening and through reallive buying figures reported by the major construction and financial companiesthe increases are continuing at a rates that no other country has experienced.

Typical Investor hotspots such as Brazil, Russia and Indiawhilst having appeal are behind what the chief economists are saying  about Turkey and many institutional investorsare looking and making substantial investment into Turkish property for theirportfolios.
 
Attractions andIndicators
The Effects of theEuropean Union


The European Union:
Turkey has now received the go ahead for entry to theEuropean Union encouraging the serious property investor to buy and simply waitfor property prices to rapidly increase when full European entry is gained.Starting the search now gives investors serious time to locate the rightproperties in the right places early, which will ultimately provide maximumresults.


Antalya Airport:
Turkey has now received the go ahead for entry to theEuropean Union encouraging the serious property investor to buy and simply waitfor Turkey property prices to rapidly increase when full European entry isgained. Starting the search now gives investors serious time to locate theright investment property in Turkey, in the right places early, which willultimately provide maximum results.

Both Ryanair and Easyjet are actively looking into openingroutes to Antalya airport, In practice, when a no frill’ airline opens a routeto a city or region, Turkey investment property prices increase rapidly in thefirst 12 months after the service has begun.


Championship Golf:
Turkey was awarded Best Golf Destination in Europe 2008 bythe International Association of Golf Tour Operators (IAGTO) putting Turkeyahead of other European golfing hotspots including Spain and Scotland.  This is largely due to the Belek district ofAntalya, home to championship golf in Turkey, which can boast of golf coursesdesigned by world-famous golfers Colin Montgomerie and Nick Faldo, and also ofthe first pure links course in Turkey – LykiaLinksGolf.

A recent report showed over 100 courses planned over thenext 15 years on the Turkish Riviera. The Antalya region is well on its way to becoming the hottest place inTurkey for golf property investments and buy-to-let rental opportunities.


Skiing:
Skiing may not be the first thing that springs to mind whenyou think of Turkey, but considering it is such a mountainous country, it isnot surprising that Turkey boasts a number of good quality ski resorts.


Historical Wonders:
Turkey is a vast country with unique natural landscapes anda rich history and culture, the remains of the many civilisations which haveinhabited this ancient land. To date, the United Nations Educational, Scientificand Cultural Organisation (UNESCO) has registered nine locations in Turkey onthe world heritage list.


Rental Potential:
The Turkish Riviera is one of the unique locations of theworld. It has the benefits of what would be expected of a resort with over 300days a sunshine a year and is also known as the golfing region of Turkey.


This is just a small sample of the information on investingin Turkey and other regions in Turkey are not to be dismissed such as Fethiyead of course the Bodrum Peninsila where areas such as Yalikavak has experiencedsteady increases all year and minimum price for villas for 2010 will bestarting from closer to the £300,000 mark. Another important aspect especiallyin areas such as Yalikavak on the Bodrum Peninsula is these are highlydesirable areas that attract worldwide wealthy visitors and the supply isstarting to become limited through the strict building controls which againadds considerably to investment potential and capital and income growth.


For further informationon investing and buying in Turkey please have a look at our other sections:

Mortgages

Buying procedure

Power of Attorney

Conveyance procedure

Property growth and Taxes and fees

Property Sun Turkey should be your first choice whenconsidering Investment property in Turkey as well as having the largestportfolio of proerties we have all the right expertise  and knowledge at hand to ensure you  have some of the most attractive and rewardinginvestment property Turkey has to offer.

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