Why buy property in Turkey?

Turkey is quickly modernising and makes a key link between Europe and the Middle East. Not only has it got plenty of history and mystery but it's got some good deals on Turkish property for sale too.

Some reasons to choose Turkey for buying a property;

Why turkey?

Key points in favour of buying Turkish property are:

  • Low property prices which are sometimes compared to Spanish property prices in the 1980's
  • Low cost of living
  • Mediterranean climate of hot summers and mild winters some of the best coastal scenery in Europe, especially in the south west where the Mediterranean and Aegean Seas meet
  • Turkey has gained solid economic growth over the last few years which has helped it to realise growing EU status. It's been a Customs Union since 1996 and accession country since 2005
  • Short flight times from European cities
  • Lots of flights to popular, south western coastal resorts in winter and summer
  • Mortgage reforms planned for 2008 will offer for the first time, mortgages at affordable rates. This milestone move will 'open the market' for Turkish and overseas property buyers and investors.

Specific Turkish property buying benefits include:

  • Strong property investment growth is predicted for Turkey as holiday operators and airlines increase tourist related activities
  • 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.
  • In fact, it's predicted that some seven million homes will be required over the next 10 years.

Turkey enjoys strong economic growth. In 2005, it became sixth in the world for GDP (gross domestic product) growth and economic growth for 2008, estimated at 6%, looks comfortably in reach.