September 12, 2007
Interest in property in Turkey growing
For the first time in real estate history, the number of foreign residents owning properties in Turkey has gone beyond the 62,500 mark. According to a report by the Alanya Chamber of Commerce and Industry, Syrians, Britons, Irishmen, Germans and Netherlanders head the list of property owners in Turkey. Syrians presently hold the top spot, although this rank may change soon. Alanya Chamber of Commerce and Industry reports that between January 7th and July 24th 2006, 6,053 foreign nationals bought property in Turkey, 1,876 of these buyers are Brits.
Many of the foreign owners have nested along the Aegean or Mediterranean coastlines - the Antalya Province, which includes well loved resorts like Side and Alanya. However, the largest concentration of foreign-owned real estate is found in Istanbul. “Undoubtedly Turkey, and in particularly Istanbul, is one property market to keep a close eye on,” comments Jonty Crossick of Ready2invest. According to Crossick, they are starting to see significant growth in a market that is still new to most Western Europeans.
Ready2invest is presently marketing a development of hotel-style one-bedroom apartments in Istanbul. The Dome Residence apartment is priced at £54,651. Located in the Tasdelen area, Dome is easily accessible from the centre of the city. Another development at Antalya is also available. The stone houses offer a more laid back environment by the coast. Known as the uncovered Mediterranean, the Antalya region is set to become one of Turkey’s hottest holiday destinations.
The Pine Hill resort is one of the developments in Antalya. It is nestled in the small village of Seki, close to Side. Due to be completed iAugust 2007, the resort is made up of six four-bedroom, four-bathroom villas. Marketed by Islands Blue, prices start at £175,000.
It is predicted that it won’t be long before the number of foreign owned properties in the country reaches 100,000 with Brit investors fuelling the fire.
Posted on: Turkey
Related articles
Recent Posts
- Living and Working in Florida
- Living and Working in Florida: The Floridian Lifestyle
- Golf Property on Course for World Domination
- Exploring Provence and the French Riviera
- Do French regions matter? Climate Change
News archive
- November 2007 (25)
- October 2007 (64)
- September 2007 (38)
- August 2007 (46)
- July 2007 (4)
- June 2007 (3)
- May 2007 (3)
- April 2007 (1)
- March 2007 (16)
- February 2007 (12)
- January 2007 (2)
- December 2006 (4)
- November 2006 (9)
- October 2006 (7)
- September 2006 (18)
- August 2006 (5)
- July 2006 (4)
- May 2006 (2)
- March 2006 (2)
- February 2006 (2)
- November 2005 (1)
- October 2005 (7)
- September 2005 (7)
- August 2005 (2)
- July 2005 (4)
- June 2005 (2)
- May 2005 (2)
- April 2005 (1)
- March 2005 (1)
- February 2005 (3)
- January 2005 (4)