The demand for property is constantly increasing with more investors wanting quality homes. Professor Unsal Ban added that people now want more from the property sector with the addition of more social and recreational areas as well as smart homes.
Turkey is now beginning to outperform countries like Spain and France in terms of investment after both countries have experienced difficulties during the tough economic climate. Despite property prices rising in Turkey they still remain affordable and offer a great investment into a country with a booming economy and tourist industry.
With more tourists now visiting the country and an increased number of property investors being able to buy real estate, Turkey is certainly going in the right direction for a booming economy.
These factors are making Turkey one of the best countries to invest in and buyers are taking advantage of the good opportunity before property prices rise even further.
Tourism in the country is expected to rise despite the eurozone crisis and with foreign investment across all sectors hitting $15.9 billion last year, 2012 is expected to see Turkey’s investment figure rise even further.
Turkish property will be in further demand after the announcement that foreign buyers will also be able to purchase more property than is currently allowed.
Altinkum and Akbuk have been named as popular areas to buy a property by experts in the industry and it is considered now is the time to buy before prices increase throughout the year.
The Daily Telegraph reported last year that most buyers want to use their overseas property themselves as a holiday home, for inheritance purposes, or for retirement reasons.
The country has seen a boost in property investors and it has been predicted that Turkey is on track to have a thriving tourism industry over the next few years.
Tourism figures next year are expected to grow, especially now Turkey has had a successful year despite problems across the Euro Zone.
The new law will create a $10 billion real estate market that will see buyers from Saudi Arabia, Dubai and Qatar enter the Turkish property market.
Bodrum in Turkey has become hugely popular with tourists and has climbed to first place with an impressive increase of 971 per cent.
Turkey’s recent good news has got investors excited. Buyers have seen an opportunity to purchase property at an affordable price that they can rent out all year round.