If you are considering, or have made the decision to invest your money into property abroad, it is important that you choose the right location in order to get the most out of your investment. More and more people are choosing Turkey as a prime location to purchase property and use it for one (or more) of the following:
- Holiday rentals
- Long-term rentals
- To sell for profit
- To use as a personal holiday home
- To live in long-term/permanently
So why is Turkey a great place to invest in property? This guide will go over some of the mains reasons why you will never regret buying property in Turkey.
Many people are surprised at just what you can get for your money when buying property in Turkey. The low prices are one of the reasons foreign buyers are choosing Turkey over countries such as Spain and France. There is a lot of development going on, therefore there are many brand new properties being built and put on the market. With new building standards put in place most likely due to Turkey’s strive towards European accession, buyers are getting brand new, quality built properties, at low prices.
Strong Economic Growth
Another reason which makes Turkey stand out above the rest in foreign property investment; is its stable economic growth. The economy is growing strongly, unemployment is falling, population is growing (great news for those who intend to sell on for profit), and the banking sector is stable and strong.
Great Rental Potential
Turkey is not just becoming a favourite place in which to purchase property, it is also one of the most popular holiday destinations for families, couples, friends, young, and old. This means that if you are thinking of buying property to rent out during the holiday season, you are guaranteed to have lots of rental potential (of course location is crucial for this, but we will list the can see the best holiday destinations later on).
It is loved because of its great climate, friendly people, beautiful locations, and ease of access – with hundreds of flights from most UK airports to all over Turkey.
In the summer, Turkey experiences high temperatures, and from mid-June to mid-September, you are guaranteed beautiful sunshine, with no chance of rain.
If you are thinking of using your property to stay in at different times of the year or for long periods, you will be glad to know that Turkish winters are considerably milder compared to British winters. They are also drier and have many more days of sun. Many British people who own property in Turkey like to escape the bitter cold of the UK and go for a winter break in their holiday home.
The most popular locations for foreigners are in the west of Turkey. These are Antalya, Fethiye, Marmaris, Bodrum, Istanbul.