17.Why buy property in Turkey?
Many of us dream of investing in a foreign property villa or apartment wishing to make the most of a longer summer season, warm winter months, delicious food and drink in a more relaxed atmosphere. But unfortunately the demands for such things have increased the price of holiday homes in many European countries.
Turkey has all of the things we are dreaming of when we think of a holiday property location with the added advantage of being much more affordable that it’s European neighbours. Having a rich historical past, cultural treasures and offering the warmest of welcomes are all some of the reasons why Turkey is now high on the list of countries to invest in the dream holiday property villa or apartment.
Investors in Turkey have been delighted with their investment returns whether it is from a steady rental income or their overall capital gain. All this, the rising tourist figures and the huge financial investments being made to this surprisingly strong and steady economy make the decision to buying a property in Turkey a safe and simple one.
- Geographically Turkey is one of the most wonderful places in the World; it is the bridge between Europe and Asia
- The Mediterranean climate of hot summers and mild winters sees the summer season last from March to November
- Some of the best coastal scenery in Europe especially in South West Turkey where the Mediterranean and Aegean Seas meet
- Turkey has a something for everyone, with 8,000km of coastline, fresh produce, and rich cultural history
- Turkey is a real alternative to over-crowded European destinations
- The cost of living is between one third and one fifth of that in the UK
- Turkish people are very friendly and welcoming
- The climate and long summer make it easy to rent out your property
- Property prices in Turkey are much lower than other European countries, homes are very good value
- Since 2008, 63,085 properties have been sold to over 73,103 different foreigners. This amounts to 38,623,661m2 of land, and US$10.4 billion of foreign investment, mostly by British, German and Greek nationals
- Turkey has very low property taxes
- The mortgage system has been recently introduced making property purchase more accessible to everyone
- Re-sale of property is straightforward and profitable seeing an increase of 1%-3% per month
- All properties sold in Turkey are on a freehold basis
- Being a property owner you have the right to apply for living permission and citizenship
- The country boasts one of the world’s fastest-growing economies; inflation has been at its lowest for the 37 years
- According to the World Investments Prospects Survey and the UN Conference on Trade & Investment – Turkey is the 16th largest economy in the World
- Turkey has gained solid economic growth over the last few years which have helped it to realise growing EU status
- As property demand outnumbers supply in several areas of Turkey combined with a large and increasing population of 70 million, the market is set to see significant property price increases
- It is predicted that some seven million homes will be required over the next 10 years
- Turkey is one of the 5 permanent members of NATO and has a democratically elected government as in the UK and Europe