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INVEST - Turkey
Since its application for EU membership last year, Turkey has received a flurry of foreign investment, particularly from Dubai, which will go towards fast improvements to its infrastructure, in readiness for EU inclusion over the next ten years.
Corporate investors are creating new resorts, golf courses and other tourist facilities, while public funds are targeted at improving roads and airports and these are clear indications of a growing tourist economy that will greatly boost capital growth for today's property investments. In fact between 2004 and 2005, tourist figures increased by a massive 22% and continue to rise - all good news for holiday homes and buy-to-let investments.
The most popular spots for tourism and property purchase are along the Aegean and Mediterranean coasts and over the past eighteen months, the number of Britons owning property in Turkey has jumped by more than 200%. It is now possible for foreigners to obtain a local mortgage, further encouraging this emerging market.
All indications show that investment in Turkey is a wise option today; properties are still unbeatably good value and the tourist industry grows while Turkey gears itself up for eventual EU inclusion.
Real estate in Turkey is highly attractive to international property investors who can see good potential for solid return on investment.
In a location such as Turkey, with stunning natural assets, and imminent membership of the EU, the country has generated much interest. EU membership traditionally generates large increases in property values and investors are keen to buy property in the prime locations whilst prices are still low.
With the huge growth in tourism and already 25 million visitors per annum (up from 14 million in 2004) "Buy to Let" investors in Turkey enjoy huge rental demand for accommodation and this demand is set to grow.
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