Because the property investment market in Turkey has cheap investment and high returns
For the last ten years or so Turkey has been a holiday destination for thousands of Britons. Our research shows that the vast
majority return year after year once they have been seduced by the turquoise Aegean Sea, the beautiful beaches and the unbelievably
friendly reception from the locals. Over the years it has become more accessible from UK airports and now all main airports offer flights
to various Turkish destinations.
A couple of years ago the Turkish Government relaxed the laws which prohibited foreign residents from purchasing property in Turkey.
Since this law was abolished thousands of foreigners now enjoy visiting their Turkish holiday homes, a great many of these are British.
Whilst back in their own countries these property owners are also benefiting from rental returns of up to 20%.
Property prices in Turkey have been increasing steadily bur two events are on the horizon which will see them escalate as they have in other EU countries.
First of all the EU have laid down guide lines for Turkey’s entrance into the Community, the Turkish Government is
pursuing theses goals with all of it’s power as they realise that the wealth creation of the country will be enormous
once they gain entry to the EU.
As the actual entry date approaches (some say 2010), property prices will increase dramatically. The other event which is likely
to happen within the next 18 months or so is the availability of high loan to value mortgages for non-residents (70% to 80%).
This will allow a far greater number of those who wish to buy in Turkey the opportunity to do so.
When that happens, guess what it will do to property values? UP, up, up just like in Spain and every other EU country.
Buying a property now will allow you to benefit from the high rental returns currently available (18% to 20%), use it a few weeks a
year yourself and then be in a great position to sell it on when the price increases occur.
Through our English speaking Turkish partner we can arrange accommodation for inspection trips.
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