Overseas Property World

Turkey is one of the largest countries in the world, and what’s more bridges the gap between two very different civilizations, Europe, and the Middle East; the west and the Arab world. Within that vastness there is something for everyone, rolling countryside, vibrant cities, history, art, culture, and of course plenty of sun, sea and sand, but also some great ski resorts as well.

There are dozens of mainstream tourism and property hotspots including Bodrum, and dozens more off the beaten track. Belek and Alanya are sort of in between that, mainstream popularity but still, better known by select groups and more discerning travellers. Here are three Turkey property greats…

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What is it they call it; the European consciousness? Whatever it is called, many Europeans would rather be put out of their misery right now as more and more EU countries are sucked into the sovereign debt crisis. Around the world we see high sovereign debt, raging budget deficits, and unsustainable volatility across stock markets and investment vehicles.

Amidst all this volatility, real estate is seen as a safe haven, however, even real estate is volatile in many countries, especially established markets. Within all this instability, volatility and uncertainty stands a rock, Germany.

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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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