Turkey is one of those odd countries that some people don’t like – until they visit for the first time and then wonder why it took them so long. The scenery is breathtaking and rivals anything to be found elsewhere in Europe. True converts just wouldn’t live anywhere else and cite the quality of life and climate as key to their decision to relocate.
Economic growth is very impressive and with the current shortfall of housing, it’s an attractive prospect for buy-to-let and holiday rentals, the latter now boosted by more tour operators moving in. Some investors regard Turkey’s inclusion in the EU as a motivating factor, but the jury is out on this one and Turkey has some way to go before achieving full membership and somewhere along the way the Turks might just decide they’ve been thrown out of better clubs. But for many investors, membership is largely an irrelevance as Turkey is currently doing well enough without it, thank you very much, due in part to its strategic location, bridging two continents, which continues to attract large, multi-nationals seeking a foothold in that part of the world. Recent legislative changes have enabled Turks to obtain mortgages, but there is a huge shortfall of housing especially in Istanbul and its suburbs. Capital growth here has even outstripped the coast, which is significant as the coast has been very successful.
As with any overseas market, buyers need to be wary of where they buy and who they buy from. Research the market and find out which agents use the best developers, those with a reputation for offering quality build and good title. If it looks too good to be true, it certainly will be and buyers shouldn’t be tempted to believe buying direct from developers means saving money. It’s a fallacy that developers offer discounts direct to the public, plus they don’t offer impartial advice as they sell only their own product. Good agents have done the legwork to find the best developers and offer a wide portfolio with something to suit all lifestyle needs and budgets.
There are some truly stunning projects on the Aegean and Med coastlines, set amid scenery to rival anything else in Europe, which offer something for different lifestyles, whether it’s the glitz and glamour of the Bodrum area on the Aegean or the stunning scenery and tranquillity of Fethiye on the Med, or maybe the vibrance of Istanbul, currently one of the best places for investment.
There won’t be a better time to buy in Turkey, so if that’s what you’re looking for do it now.
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