Turkey is The capitol of new Holiday Property Investments
For an increasing number of British investors in overseas property, the opportunity to experience a new culture, not just Britain in a hotter climate, is an important factor. Which is perhaps why Turkey – straddling Europe and Asia – has become an increasingly viable choice for UK purchasers in recent years.
Generally, overseas property interest in Turkey is centered on its southern coastline. On the Mediterranean coast it is the areas surrounding Antalya, along with Belek and Adrasan, where much of the initial overseas interest in Turkish property was concentrated.
While these areas are all still popular with British buyers, a growing number are also now looking to the stretch of Mediterranean coast that runs from Fethiye to Alanya. Both coasts offer a mixture of different lifestyles depending on the resort, from relaxed (Adrasan) to lively and sporty (Side and Belek, which is fast becoming Turkey’s golf capital).
What’s more, no matter which resort you choose to settle in, there are two things you can be sure of – the weather will be hot and the property affordable. Temperatures in the southern Mediterranean resorts average around 23C annually, and almost 30C in summer.
Another worry for British investors could be the unresolved dispute regarding Turkey’s accession to the EU. The country has been slated to join some time in the next ten years – a development that will undoubtedly support Turkey’s property market and economy in general – but ongoing wrangling’s over the Turkish government’s refusal to allow Greek Cypriot ships and planes into its ports and airports remains a sticking point, as does the fact that freedom of speech cannot be taken for granted.
However reaching $1.8 Billion in property sales for year 2005 (near Spain and Portugal), clearly shows that even without EU membership, purchasing a Turkish property is safe. Everyone in Turkey remains optimistic about Turkey’s eventual EU membership, but even before EU talks Turkey has already become a hotspot because of the ease in purchasing the property, constant price rises and low taxes.
Turkey is certainly an intriguing country, as ideal for sun worshippers as it is for culture vultures. And while the property market still seems over priced in Spain, Italy and Portugal, buying a home in Turkey is a profitable experience worth looking into.