HISTORY OF BUYING TURKISH INVESTMENT PROPERTY

A few British and Irish pioneers have been adding to Turkish properties history since the early 1990s some for investment but many for their own personal use as buying a home in Turkey is an irresistable prospect to those who know the country.  However, it is in the last few years that it has become hugely popular as a second home and buying Turkish investment property rocketed when in 1999 the country became an official candidate for full membership of the European Union.  This was followed in 2003 by the Turkish Government’s equalisation of the property buying regulation for foreigners and by January 2005, the British accounted for 18% of the foreign buyers of property in the country.  At the start of Turkey’s popularity as a second home destination, an apartment with sea views would have cost £11,500; today, a similar property would be £65,000.

To date, much of the property bought by the British and Irish has been on the southwest coast of Turkey stretching from Izmir in the West to Alanya in the East.  Increasingly, buyers are seeking homes further north of Izmir and east of Alanya and also in the capital, Istanbul. Prime concentrate on village properties, villas, homes in Bodrum, Fethiye, Dalaman and the surrounding areas. Investment property in Turkey varies from region to region and we can advise you on the best for your budget and requiremtns at the time. We have apartments fro sale in Hisaronu and villas that you can have built to order in Dalaman.

Buying a property in Turkey today

Today, a wide range of property is available.  Much of it is found on the Aegean and Mediterranean coasts based around the traditional tourist resorts of Izmir, Bodrum, Fethiye, Marmaris, Antalya and Alanya.  Whilst many of the low prices seen five years ago are long gone in these regions, it is still possible to buy property at lower prices than you will find in the more mature countries of Europe.  On average, you can expect to pay around £60,000 for a two bedroom apartment in Bodrum on the Aegean coast; £130,000 for a three bedroom villa just inland from Fethiye on the Mediterranean coast; or, for a three bedroom apartment in Dalaman you could pay as little as £50,000.  Whatever your choice of area and whatever your budget, you can rest assured that Prime Overseas Property is committed to helping you find the best property at the best price and help you with everything from buying teaspoons to notary services in Turkey.

(All calculations are for illustrative purposes only.  Please check our property details for up-to-date prices and specifications.)