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Turkey New Legislation will increase buyers

Turkey is planning to ease restriction on the purchase of real estate by foreigners, according to reports in the Turkish press this morning.




Gulluk, Bodrum, New Luxury 149,000M3 Marina Now Passed To Be Built

Gulluk has now announced the new luxury 149,000m3 marina to be built soon. This is a major benefit to this already popular resort. Read on for more de...



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Overview of Turkey

Emerging Turkey

Turkey is a young, dynamic country with a rapidly growing economy and a secular, democratic government. On the edge of Europe, Turkey began formal entry negotiations to join the EU in 2005, and the hopes are that this will happen in the very near future, but at present the Turkish economy being outside the European community is riding the worldwide economic storm extremely well, this is mainly due to its stable currency, and Istanbul being the gateway to Europe for imports and exports for many eastern countries.

The Turquoise coastline is the most popular tourist destination of the country, boasting the stunning Aegean Sea with fine sandy beaches natural beaches. As a centre of the old world for centuries, it has dozens of fascinating historical sites. Over 20 million tourists visited in 2007, and the numbers are increasing year on year.

With government plans to increase this number to 30 million by 2012, to achieve this, the government is channelling massive public and private investment into the coastal infrastructure. This will be utilised by building new roads, marinas, spa resorts, golf courses and by extending airports.
This is a very exciting time for Turkey and the perfect time to invest in the countries bright future.

Over the last few years there has been huge interest in the Turkish property market from foreign buyers, the fantastic Aegean climate, the beautiful scenery, sandy beaches and the friendly locals are all encouraging many British and European people to buy property.
This part of the coastline is still a price driven market, due to the on going government investment to infrastructure, the main investment to the area is the new marina, completed in 2009, this is the largest marina in Turkey and yet again has highlighted the area for investment opportunity.
There is massive potential for capital growth as property prices rise to levels equal to European markets 10 years ago.
As the economy in Turkey is stabilising rapidly against the pound and the Euro, now is the perfect time to invest in this country, encouraged by huge demand, the Turquoise coast has experienced capital growth increases, of around 15%- 18% per year.

The large and rapidly growing industry also provides the potential for excellent rental returns, making Turkish property a solid all-round investment.

  • Due to population growth and continuing urbanization Turkey currently requires in excess of 500,000 new housing units per annum to satisfy current demand - 250 new homes identified as requiried in Istanbul
  • Mortgage lending commenced in 2007 and the Central Bank's policy of consciously decreasing interest rates has steadily increased demand and the rapidly emerging middle class has further fuelled the first time buyer market.
  • Democratic country with rich history and wealth of culture
  • 5 Universities located within the area, attracting students looking to rent.
  • Located at the junction of Europe and Asia
  • Population of 71.5 million and growing with significant shortage of housing
  • 15th largest economy in the world and 6th in the EU
  • Located outside of the Euro-zone
  • Over 73,000 overseas nationals already living in Turkey (Turkish Statistical Institute)
  • Rated among the Top 10 locations where real estate investors can safely buy residential or holiday homes in 2010 by the Financial Times
  • Booming tourism destination with 28 million tourists in 2009
  • Istanbul is a European Capital of Culture 2010
  • Low cost of living
  • Superb climate with long hot summers and short, mild winters
  • 279 Blue Flag beaches and 14 marinas
  • Mortgages now available to EU buyers
  • Named Golf Destination of the Year in 2008
  • Microsoft have recently moved their training centre to Istanbul.
  • Expected to become a full EU member by 2020

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