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Property Market in Turkey

Property Market in Turkey

For many reasons, it is considered that now is the best time to invest in the property market in Turkey.

Turkey is in the midst of negotiations to join the EU and this fact has a significant impact on any property market. Turkey’s booming tourist industry, with more than 25 million tourists visiting each year, is growing at a fast pace, creating a higher demandfor quality accommodation.

Turkey’s stunning beaches and congenial climate is considered to be far superior tomany of the popular holiday destinations of Europe. The cost of living is low but the availability and quality of its produce is high; the summers are long, making it a keenly sought retirement spot for Europeans. Property prices too are very competitive, and set to appreciate rapidly. Property Market in Turkey

Istanbul is Turkey’s best known city (very often mistaken for its capital), and is athriving multi-cultural city. Istanbul has gradually established itself as a popular destination for tourists, but the city has not yet caught the attention of overseas property buyers; this means it’s worth considering a property there for future investment. Prices are still cheap for a city and the property market in Turkey is set to flourish in this area.

The Aegean coastal region, especially the southern areas around Bodrum peninsula,has been Turkey’s international tourism hot spot for a long time. Glitzy Bodrum with its marina housing million dollar yachts, has always appealed to the affluent, whilst areas such as Gumbet attracts those looking for nightlife. Other areas such as Gumusluk, Yalikavak and Gundogan offer more peaceful locations attracting those looking for aquiet holiday within nature. With 6 new golf courses springing up in the Tuzla area on the penninsular, Bodrum will have additional appeal to golfers. Dalyan, Kusadasi and Kalkan will appeal to people looking for a quiet, peaceful life. A more festive atmosphere will be found in Altinkum and Marmaris.

You will find a pleasant apartment in Kusadasi and Bodrum for 60,000 to 150,000 euros. A little more than 100,000 euros will fetch you a villa. Belek is the prime golf area of Turkey and property prices reflectthis. A 3 bed golf villa is likely to set you back 300,000 euros +.

Mass infastructure change has opened up more areas for holidays in Turkey and the Mediterranean coast, which was previously less popular than the Aegean, has become more attractive. There is a mix of different lifestyles and very affordable property. Fethiye is located on a stretch of coast called the ‘Turquoise coast’, and has some of the best beaches in Turkey, although Fethiye itself doesn´t have a beach, the nearbybeach of Calis is very popular with holiday makers. Property prices here are similar to Bodrum. Dalaman, on the Mediterranean coast is witnessing large scale infrastructural growth, including expansion of its airport, construction of a golf course and threemarinas – making the area attractive for prospective property buyers and an excellent prospect for those looking for investment property in Turkey.

Kas and Kalkan, offer a more affluent lifestyle, and are popular stops for cruiseliners. Here a three-bedroom villa will start at around 280,000 euros. Antalya and Alanya further east, are fast developing areas, with pricing rising by nearly 30% in the recent past; here a three bedroom villa will start at around 180,000 euros. The paradise of the Black Sea region has history, art, flora, fauna, sailing, surfing,water skiing, diving and famous beaches. Property prices are affordable and lower thanthose in the western and southern coast lines. However, the summer season is shorterand the weather cooler than on the south coasts


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