For those in the UK looking to make a property investment abroad, it is likely that Turkey has come to your attention as the perfect place to find real estate. The rate of property for sale here is at an all-time high, and opportunities to find great investment properties in Turkey continue to be very good.
There are a number of reasons for why that is the case. The Turkish government has been making overtures to foreign real estate investors. In the past, the Turkish government had offered foreign buyers one year of residency with their property purchases. After five years of continuous residency, foreign investors were eligible for citizenship. But this year sees the introduction of measures to give first-time buyers both citizenship and work permits for those buying property in Turkey – an astonishing bonus for investors. There are also a number of other trends behind why Turkey continues to be such a healthy investment for foreign buyers. This is thanks, in large part, to the political uncertainty of the three major European property investment powerhouses: the UK, Germany and France. For those in the UK, it’s likely you’ll want to get away from talk about politics and Brexit – but it has also brought about genuine uncertainty for investors. For example, London recently dropped out of the top 15 global investment spots for the first time in five years. Germany will also be home to elections soon where the political situation has been described as ‘volatile’. France’s political situation is still a hot topic today too. This uncertainty drives investors to look to land for sale in Turkey and other places outside of the big three.
Turkey offers far more certainty. The country is currently projected to experience a 4% growth rate until at least 2020. One of the top places that you’ll find Europeans and Brits investing in property is Istanbul. It’s thought that nearly one-fifth of Turkey’s property transactions took place in the city in 2015. The amount of foreigners investing in the city’s real estate is increasing too. In 2014, over 5,000 properties were sold to foreign investors in Istanbul; in 2015, that figure was nearly 7,500. With the city home to an incredibly high level of public spending to improve infrastructure, Istanbul is a city on the rise – making it a terrific investment for foreign buyers. However, Europeans are also flocking to buy property in holiday resort towns on the South, West and South-West coasts. Many Europeans look to find property or land for sale in Altinkum, Bodrum, Antalya, Alanya, and many more towns around these areas. There is also a good opportunity to make a nice future return on investment properties in Turkey by selling to a domestic buyer. With the minimum wage increasing and more mortgaged house sales in Turkey being made than ever before, Turkish people have more money to spend on investment than ever.
Whether you are looking for apartments in Istanbul or holiday villas in Didim, investment properties in Turkey continue to offer a lot of opportunity for those looking to resettle, as well as those looking to own a holiday home.