Overseas Property World

Turkey is one of the hottest property markets in the world right now. During the boom Turkey was a fringe market, where investors believed EU accession was necessary to make it a safe investment, and the bulk of buyers were lifestyle buyers. This is no longer the case.

Turkey is now the fastest growing economy in the world, and has been in the top 5 fastest growing for over a year now. According to the Association of Real Estate Investment Companies (GYODER), foreign purchases increased by 40% last year. But of course, you can’t buy a property in Turkey; you have to buy on a street, in a town or city, within a region. Here are 3 of the hottest cities right now to aide in the initial choice.

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On the 18th December 2010 I wrote an article titled: Top 10 Property Investment Destinations in 2011. Turkey was in the number one slot. What I said about Turkey then still holds true today, it has a rapidly growing economy (now the fastest in the world), a stable economy and political system, a strong a stable banking system, a rapidly growing population, and a rapidly growing mortgage market. But was I right?

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Many of you will have read about the fact that UK buyers are selling up en masse in the south western region of Marmaris in Turkey, and that Russian buyers are coming and snapping them up as they become the dominant buyers in the market. But as yet there has been no confirmation of whether the trend is being seen in other parts of the country. According to Aydin Cakir of Turkey property agent New Home in Turkey it is.

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What a dramatic title? I couldn’t resist, because while even I hope it isn’t true, and am far from being a believer in the doomsday scenarios being floated, right now Turkey is the investment centre of Europe, and one of the best emerging markets to invest in property in the world.

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Turkey looks set to remain top of the list for overseas investment property for quite some time to come. This is due not only to the low property prices and booming economy, but also because the country enjoys 300 days of sunshine every year, has beautiful beaches and rapidly developing resorts while the low costs of living are irresistible to holidaymakers.

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