It is important to know why Turkey is such an attractive place to buy and an ideal investment for anyone who takes the plunge. Listed here are the main reasons why we think this is an ideal opportunity for anyone interesting in buying a home abroad.
• The Turkish property market is witnessing the early stages of a massive boom triggered off by an important change in the law relating to the ownership of property by foreigners. This change only took place at the start of 2003 and property values have been rising ever since.
• Other Mediterranean countries are now becoming more and more expensive and therefore the focus is now switching towards Turkey.
• The main Mediterranean property developers have now started taking a keen interest in land and property purchase in Turkey as they seek to gain a head start on their competitors and snatch up as much land as possible.
• The Turkish economy is generally attracting a huge amount of foreign interest and investment from overseas as the Turkish government seek to align the laws and policies with the rest of Europe in anticipation of full EU membership in the near future.
• The above point is further proven due to Tesco having just purchased a large supermarket chain over in Turkey and five Turkish banks have recently been brought over by the likes of HSBC and Citibank. The big European car manufacturers are also now building large manufacturing facilities here and this has made the boom in property prices increase.
• The number of Britons who own a property in Turkey has risen to approximately 15,000 from just under 3,000 since July 2003, less than four years. This is clearly an encouraging sign for any future investor.