How and where to buy property in Turkey

The overseas property market dictates that where holidaymakers go, property buyers follow. So when one considers close to one million British tourists a year have visited Turkey since 2001, it is no great surprise that the country is now garnering plenty of attention from British property buyers. Despite its eastern location, the country is split by two continents, Europe and Asia. The western, far more touristy half of Turkey would not look out of place in Western Europe, albeit with a few exotic eastern charms thrown in for good measure.

With these in mind, one may ask why is it only now that Turkey is starting to turn the heads of property buyers? There are two main reasons. One is a change to the purchasing process in 2003 which made it easier for foreign nationals to buy a home in Turkey, especially in more rural areas; while the other is that since 1999, it has been rumoured that EU entry for the country may not be too far away. This is still an ongoing debate and one which is far from being resolved.

However, the talk of possible EU entry has prompted the Turkish government into improving much of the country’s infrastructure as well as taking steps towards strengthening the economy. In just five years, the GDP per capita has increased from $6,200 to $7,900.

All these has helped improve buying confidence in the country and it has not taken long for thousands of Brits - mainly holiday home hunters at first – although investors are slowly being tempted into looking for suitable property in the country.

According to Geri Canavan of Ilkem Construction, holiday homes are traditionally popular with buyers but as property prices increased and houses doubled in value, people began to upgrade from apartments to villas. Then, investors started to enter the market.

Posted on: Turkey

News by country

How and where to buy property in Turkey

Related articles

Recent Posts

News archive