WHY TURKEY?

In Turkey foreign citizens are allowed to own property. That is why they do not encounter problems like those found with time share projects or projects with flats under a multi-ownership scheme. Once you have signed for and received the deeds (tapu), you are the official owner of the property. The paperwork involved in a property deal is unique. Many parties have an interest. For example, the military authority should approve the deal. These endorsements are only a formality and normally the estate agent arranges them without the buyer's involvement.

Turkey is one of the best chances of buying affordable property. Turkish economy and tourism had been growing at an impressive rate for the past 10 years.
As the prices in European countries gets higher, with the prospect of joining the EU, Turkey become very advantegous for foreigners to buy property where you can find the sunshine all year round...More than 300 days in a year.

The property is also an investment for the future. If we take a look at the development in countries such as Spain and Greece, we can see that prices throughout the last 15 years have been continuously increasing. This same development is probable in Turkey. It can be seen already in the price increases on properties in Alanya in recent years. Turkey’s expected entry into the EU may also increase property values.

Up until recently, British people and other European people looking for a home abroad have tended to buy property in other sunny Mediterranean countries such as Spain, France, Italy and Cyprus, but prices there have risen significantly due to congestion of the market. Many now choose to buy property in Turkey, having discovered the beautiful countryside, vibrant culture and hospitable people whilst holidaying in its coastal resorts. You too can buy a home in Turkey at a very affordable price, which you can use for regular family holidays (and also rent out), as the latest legislation now makes buying property much easier.

The main appeal of Turkey lies in its long warm summer, its historical sites and natural beauty and the hospitality of its citizens. Turkey is a stable country, with good infrastructure, modern cities and the expectation of accession to the EU. Its huge economic potential, young population and the increasing number of foreign tourists all add to the attraction. All these factors, together with expected future developments in the Turkish property market, mean that investments in real estate are highly likely to yield an excellent return.

The demand for real estate in Turkey is growing fast. As of January 2005, the number of foreign nationals owning property in Turkey is 51,000 and 18.2% of these are Britons. This means that the number of Britons and other foreign nationals who own property in Turkey has increased by 214% and 35%, respectively, since property buying rules for foreign nationals were relaxed in July 2003. This figure is expected to rise by more than 6000 each year, and to double in the very near future. Foreign nationals are estimated to have spent more than $1 billion on buying property in Turkey in 2004 alone.

Turkey is surrounded on three sides by sea (the Aegean, Mediterranean, Marmara and Black Seas) and has a wonderful coastline with large resort cities as well as many smaller seaside towns and villages. The country is self-sufficient and grows a huge range of high quality fruit and vegetables which are sold very cheaply in markets and even on street-corners. There is a large selection of restaurants and cafes where you can get delicious dishes at prices to suit every pocket. In fact, most things in Turkey are cheap and it's easy to attain a good standard of living on quite a small income. People in Turkey are warm, community-minded and hospitable to foreigners, so you will soon feel at home. In summer, of course, the sunny weather, superb beaches and exciting outdoor activities mean that you will never be at a loss for something to do, but there is also plenty to occupy you in winter, as there are mountain resorts for winter sports and mountaineering, large modern shopping malls, concerts and cinemas and still a wealth of historical places to visit.

In 2004, more than 17 million tourists visited Turkey. This figure is expected to double in the next few years. Future projects such as the creation of further conference centres, golf courses and health tourism centres, as well as the hosting of international sports events such as Formula 1 races, will have a positive effect on the property market in Turkey. For this reason, buying the right property in Turkey should lead to a substantial profit. As property prices are steadily increasing, and the tax on property is comparatively low, there will be a considerable difference between the purchase price of your property and your selling price, and your house is likely to realise its acquisition cost within 8 to 10 years if it is rented out properly.

So, whether you buy real estate for investment or for residential purposes, to live in yourself or to rent out, you will never regret your decision to buy in Turkey. Its climate is ideal for old and young and there are good opportunities for qualified people who wish to work or to establish their own business