Reason for Buying a Property in Turkey

After the new property law which allows to all people buy real estate in Turkey, there is a growing interest to properties across various famous cities in the country. Turkey has also implemented economic reforms that make mortgage rates more affordable for those purchasing real estate in Istanbul and the country.

A growing number of Arab, European and Russian buyers are exploring the potential of real estate in Turkey. There are so many reasons to invest in real estate in Turkey, they do not stop with economic motives and the hospitality of the local people. Below are just the few main reasons why the real estate in Turkey becomes increasingly popular:

• Attractive return on investment – property in Turkey offers enormous potential for returns on investment. In 2013 alone, property prices rose by around 50% with more people looking to purchase homes in Turkey. This extra demand is set to push prices up drastically.
• Strong economic growth – the economic strength and solid financial growth during the recent history of the country makes Turkey a prime investment target. It is growing in status with European Union membership.
• Great choice of affordable property – many stunning properties available at a fraction of the cost of similar properties in many European countries such as Spain and UK. There are many good construction companies who only offer best quality properties in Turkey, with a 10 year structural guarantee approved by the Turkish government and EU certified building materials.
• Stunning coast and warmer climate – Turkey’s Mediterranean climate of hot summers and mild winters together with some of the best coastal scenery in Europe making it a very popular holiday destination. Over 25 million tourists visit Turkey each year boosting the property market and creating strong “buy to let” possibilities.
• Short flight times from European cities – modern airports in many cities and short flights from most European capitals means that it is easy to schedule a short holiday. Frequent domestic flights also make it easily accessible to popular coastal resorts on the south–western coasts from Istanbul.
• Competitively low living costs – Local produce, labour costs, healthcare, education and property taxes are all lower compare to nearby European countries. This is especially beneficial for semi-retired or fully relocating families.