Turkey Property & Investment Opportunties|New Property Developments in
Turkey
Turkey
Turkey is a country of contrast and beauty. As the cradle of civilization and with a varied landscape, it has much to offer both the visitor and investor. Often called the gateway to the East, Turkey is not only a bridge between continents but also between nations and civilizations. Both the country and its capital city, Istanbul is in the unique position of lying on two continents. The Bosphorous separates the eastern part of the city from the west. Turkey covers an area of 814,578 sq km, roughly the size of Texas in the USA, of which 790,200 sq km are in Asia and 24,378 in Europe. The European part of Turkey is called Thrace, while the Asian part is Anatolia or Asia Minor. The coastline is more than 8,333 km long. Turkey borders eight other countries with Bulgaria lying to the northwest, Greece to the west, Georgia, Armenia and Azerbaijan to the northeast, Iran to the east and Iraq and Syria to the southeast. The country is separated into seven geographical regions: the Black Sea region, Marmara, the Aegean region, the Mediterranean region, south eastern Anatolia, Eastern Anatolia and central Anatolia. The Mediterranean and the Aegean regions are at the heart of the tourist industry. The irregular coastline means there are many coves and little peninsulas, ideal for yachting. The charming town of Bodrum, home to the ancient Greek historian Herodotus and once a stronghold of the crusaders, lies on one of these peninsulas.
Turkey is a massively popular tourist destination for a number of Europeans, many of whom have enjoyed their time there so much they have returned to invest in a second home in one of the country’s stunning beach resorts, such as Bodrum, Marmaris, Alanya and Izmir. This part of the country – that curves from the sparkling Aegean Sea around to the Mediterranean is thoroughly beautiful, boasting a wonderful year-round climate, stunning beaches, numerous places of historical interest and a welcoming, laid back way of life. Little wonder, then, that it has proven so popular with property investors over recent years.
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Turkey is a diverse and wonderful country which now has top Quality property for under € 50,000. Turkey property still represents the lowest and best value in all of Europe.
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WHY INVEST IN TURKEY PROPERTY?
TURKEY PROPERTY – CLIMATE
Due to Turkey’s vast size, its climate is as differing as its geography, with all manner of landscapes and terrain. The southwest of the country has a typical Mediterranean climate of hot and dry summers and mild and damp winters, with temperatures ranging from as low as 10°C in winter to 30°C in the height of summer. Istanbul is relatively milder all year round, while Ankara has extremely hot summers and cold, dry winters. The Black Sea coast to the north has a continental climate, with relatively hot summers and cold winters, while the internal plains of the country suffer severe weather extremes, with temperatures regularly topping 44°C in summer and falling as low as -25°C in winter.
TURKEY PROPERTY – ECONOMY
Turkey’s economy is a complex mix of traditional craftsmanship and modern industries, increasingly dominated by the latter. The country's large agriculture sector, which ranked 7th in the world in terms of production output in 2005, accounted for 11.2% of the employment in 2006. Turkey has a strong and rapidly growing private sector, yet the state still plays a major role in industry, banking, transport, and communications. In recent years, the Turkish economy has expanded strongly, registering growth rates of 8.9% and 7.4% for the 2004 and 2005 fiscal years, respectively. Turkey is often classified as a newly industrialized country by economists and political scientists, and is a founding member of the OECD and the G20 industrial nations. Turkey's per-capita GDP places it among the upper-middle income countries. According to Forbes magazine, Istanbul, Turkey's financial capital had a total of 35 billionaires as of March 2008.
TURKEY PROPERTY – TOURISM
Tourism is one of the most dynamic and fastest developing sectors in Turkey. According to travel agencies TUI AG and Thomas Cook, 11 of the 100 best hotels of the world are located in Turkey, in 2005; there were 24,124,501 visitors to the country, who contributed $18.2 billion to Turkey's revenues, with an average expenditure of $679 per tourist. In 2007, the number of visitors rose to 27,214,988, who contributed $18.5 billion to Turkey's revenues. Over the years, Turkey has emerged as a popular tourist destination for many Europeans, often competing with Greece, Italy and Spain. Resorts in provinces such as Antalya and Muğla (which are located in the Turkish Riviera) have become very popular among European tourists.
TURKEY PROPERTY – PROPERTY MARKET
Turkey property at their current prices represents excellent value for international property buyers especially when compared to prices in mainland Europe. It is widely regarded that now is the ideal time to invest into the Turkish property market. Turkey has started the process of joining the EU, which traditionally makes a huge difference to any property market. Turkey has a large and fast expanding tourist industry that looks set to continue to grow creating even more demand for quality accommodation which is ideal for off-plan property investors. When taking all of the above factors into consideration property in Turkey makes sense for Property buyers and Investors alike.
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