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There is no doubt that it has been seen before: in a country that is leading the way in tourism, it is only logical that the value of property will increase. Now it is Turkey’s turn; approximately 30 million tourists are expected to visit the country next summer and major tour operators, including Thomas Cook and Club Med, are extending their services to accommodate the high demand.
A large proportion of visitors to Turkey invest in Turkish property either for personal use or in the knowledge that its value will multiply considerably. Compared to conventional and established resorts, such as the south of Spain, currently property in Turkey offer exceptional value as well as excellent rental returns during the high season.
Numerous significant and distinguished enterprises are committing extensive financing to their investments in Turkey. The knowledge that Turkey aims to become a major player in the world’s property market also gives buyers a sense of security. Indeed, the world’s largest tour operator, TUI, has listed 2 Turkish hotels among the 10 best hotels in the world and the Hilton intends to extend into Turkey with 15 new hotels across the country over the next 5 years.
Turkey is well on the way to preparing itself for the wave of popularity. On top of more than 45 operating airports, new airports are scheduled to open and championship golf courses are being built. However, in order to preserve the country’s natural beauty and protect coastal resorts, building restrictions have been put in place: Turkey is learning fast from Spain’s mistakes. Another notable advantage when investing in Turkish property is the fact that the average price of a home will be 3 times less than an equivalent property in Spain.
As tourism in Turkey rises by approximately 20% per year, the price of property increases at nearly the same rate. There are already over 62,000 foreign owned properties in Turkey, of which approximately half are thought to be British. With the exceptional value of property and inexpensive price of living, such figures are hardly surprising.
