UNITED NATIONS: TURKEY IN WORLD’S TOP TEN DESTINATIONS
Turkey is the seventh most visited country in the world, according to a recent report from the UN World Tourism Organisation.
The news has excited investors who have bought property in the booming country. Turkey’s $735 billion economy has grown 8.8 percent in the second quarter and is developing at a much faster rate compared to other countries like India.
Turkey’s economy has increased more than four times the Euro zone’s growth, which is why investors now want to buy property in Turkey.
Last year foreign buyers invested $1.3 billion in the Turkish property market, clearly showing the high demand for properties that are suitable for holiday makers.
The country’s successful economy has resulted in many properties in Turkey being bought quickly by savvy buy-to-let investors. There has been a huge increase in tourists visiting the country over the past few years and 1.4 million Arab tourists visited Turkey between January and August in 2011 alone. With the Turkish government changing the law so more non Turkish residents can buy property and opening up to the Arab countries there could be a huge demand in property over the coming years.
It has been reported the Turkish government aims to make the tourist industry reach 15 percent of its GDP by 2020, which has caught the eyes of investors.
Turkey’s strong economy and huge interest from investors will certainly give the country a boost that will see tourists choosing Turkey as their next holiday destination.
Neil Hollingsworth from Rivermead Global reports they have seen a big rise in people looking at Turkey, especially the Altinkum and Akbuk regions where property prices are still very attractive.
Source: Place in the Sun and Neil Hollingsworth