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Turkey A Location That Is Much In Demand
Turkey remains in the top 5 holiday destinations globally with just under 30 million tourists flocking to its stunning beaches annually. Turkey’s superb climate which, boasts over 300 days of sunshine a year, together with its alluring quality of life, help to sustain this position.
Turkey itself is in the midst of a property boom. Turkey’s current accession talks for membership of the EU, with likely inclusion as a full member in the near future, are progressing at a meteoric pace and are adding to the burgeoning interest in the Turkish property market.
Turkish property still offers massive potential for returns on investment. Last year property prices rose by circa 50% with a proportionate increase in people looking to purchase homes in Turkey. This year has seen prices increase by a further 30%. This extra demand is set to push prices up significantly and further underpins the market.
Since its application for EU membership, Turkey has received a host of foreign investment that will contribute to fast improvements to its infrastructure in readiness for EU inclusion over the next ten years. Already improvements are in evidence, with the recent refurbishment of the main road between Milas-Bodrum Airport and Bodrum. Additionally, there has been further investment from both Europe and Russia in relation to the respective Nabucco and South Stream pipeline projects.
Corporate investors are creating new resorts, golf courses and other tourist facilities and these are clear indications of a growing tourist economy that will continue to boost capital growth for today’s property investments.
The most popular spots for tourism and property purchase are along the Aegean and Mediterranean coasts and over the past eighteen months, the number of Britons owning property in Turkey has increased by more than 200%. It is now possible for foreigners to obtain local mortgages, further encouraging this emerging market.
It’s not just property investors who are showing a strong interest in Turkish property at the current time. Due to the low cost of living and beautiful natural resources Turkey is also an appealing location for second homes and a popular retirement destination for many Europeans.
The most popular searches for Turkey property are for Bodrum property.
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