Turkey Buying Guide

Turkey is an emerging property market, and hot-on-the-lips of many investors. As well as being an excellent holiday destination, the country offers property at competitive prices and is ideal for those who can no longer afford traditional holiday areas such as Spain or Portugal. Turkey’s Mediterranean shore, called the Turquoise Coast, is nearly 1600 km (994 miles) long, scattered with fine-sand beaches and sprinkled abundantly with charming classical cities, towns and villages turned to picturesque ruins, with stunning mountain backdrop, wealth of history, over 300 days of sunshine each year, and all this is just a couple of hours flight from European countries.

Turkey is becoming more and more popular for Europeans buying homes in the Mediterranean. In 2003, Turkey liberalized its real estate market and opened it up to foreign buyers and now more than 40,000 estates in 70 Turkish cities are owned by foreigners from 64 countries. The main explanation for the opening of the Turkish real estate market is the country’s bid to become  a European Union member in the years to come. The country boasts one of the world’s fastest-growing economies, and inflation has been at its lowest for the last 37 years.

Those who have bought property in Turkey are already seeing good returns. To date, conservative estimates show around 10-15% increases year-on-year. EU accession talks began in October 2005 – property investors see this as a potential long-term benefit. Of course the current global economy worries have affected this, but perhaps this is the perfect time to take advantage of the huge number of properties available in Turkey.

The country’s coastal areas are serviced by the following airports: Izmir, Bodrum, Dalaman and Antalya – all of which are open all year round. Travelling around Turkey is easy – there is a good network of local roads, with bus routes, and cheap taxi services.

Modern homes in Turkey now conform to EU standards and regulations. Turkey adopted European legislation on building from around the year 2000.

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