Turkey property is becoming a "Prime Destination" for investment. Here is an introduction to a few of the reasons for why to invest for property in Turkey. With the indicators shown on this page, it’s very likely to predict that Turkey is at the beginning of a “property boom”. Growth in Turkey property prices can be triggered in two ways, under value of property or demand outstripping supply. Both these factors are presently the situation in Turkey especially in the major investment areas such as Antalya, Istanbul and Dalaman.
Turkish Property prices are less than a quarter the price of similar properties in the more traditional locations and less than one tenth that of in some seaside resorts in Ireland/Uk or any other country in Europe. According to datas about property prices in Europe, property prices in Turkey are equivalent to Spain in the mid of 1990’s. Turkey is voted 3rd in the A Place in the Sun television programme to buy property (2005) and 4th most popular as a destination by the A Place in the Sun reader (2006).
Property prices are still lower than equivalent European hot spots
On October 3rd 2005, Turkey started the long road to joining the European Union.
Predicted by the end of 2015, according to the European commission’s agriculture report that deals with farming, Turkey is assumed to be an EU member state in eight years time, adding that its agricultural produce equates to that of the last ten nations that entered the union before Romania and Bulgaria.
Because the road to EU membership is going to take time, means there are still another 5-10 years before Turkey property prices raise substantially.
Prior to EU membership, there are many factors yet to be discussed and many of Turkey’s issues that need to be corrected before incorporation will be seriously considered. However Turkey has some strong backers for its entry and when it does get accepted into the EU, it is reasonable to expect the price of property in Turkey to rise greatly in line with a huge surge in tourism.
Serious Investors look for key indicators when investing in property worldwide and just one of those indicators is the European Union. They are looking for indicators that will increase steady growth. Joining the EU in the future is a major step to financial security in the countries property market.
A fraction of that of UK/Ireland or any other European city, you will not have to worry about the cost of having a good time and an open currency market allowing easy transfer of funds both into and out of the country.
Approximately 4 hour flight time from Ireland and UK and about 3 hour flight from other european countries with direct flights to most destination for most of the year and readily available connections for the remainder from UK and European airports. Also Turkey has excellent road access and air networks providing good infrastructure around the country.
Turkey has been tipped to become the next property hotspot thanks to the introduction of mortgages in October 2006. Mortgages were only introduced in Turkey a quarter of a year ago, but insiders are already stating that the effect this is having on property in Turkey is extraordinary.
Property expert Assetz have stated that capital growth on homes and dwellings in the Middle Eastern nation is strong, as is demand. With mortgages introduced at completive rates of 5.9% per cent which will only encourage demand for holiday homes and investment property in Turkey.
Turkey Property Mortgages Available