In a recent article by the Nour Group Turkey they take a look at the future of property investment in Turkey.
“The property sector is like a fashion trend. Every few years it repeats itself.” The article begins “The last of the golden years for a large property investment boom in Turkey began in 2003 and carried on strongly until 2005. The last preparation year was 2002 when a new law was passed, and foreign nationals were allowed to purchase real estate in Turkey in their own name. Well be prepared. The year to get ready for the next big property boom is 2009. The next set of golden years for Turkey’s real estate market will be in 2010, 2011, and 2012.” This appears to echo the thoughts of many in the industry.
It continues by saying that “According to a representative of Garanti GYO, interest in Turkey investment property has intensified because the market sector has been averaging 40% returns while the rest of Europe floats around 5% growth. Obviously these levels of potential profitability are of great interest to corporate investors and it is worth taking into consideration that Dubai Holding’s commitment to the Turkish property market represents their largest international financial investment which just goes to show how certain they are of the large profit margins in Turkey.
There are also many opportunities to buy into investment properties in Turkey for private investors; in Istanbul many construction companies are creating brand new residential communities that are certain to represent a positive investment. Along the southern Turkish coastline in particular developers are involved in the development of spectacular resorts in huge demand from tourists and second home investors. Private investors can consider aiming for investment property to rent out to the tourism market; alternatively even buying property in Turkey off plan to resell to the growing base of overseas buyers seeking individual properties in Turkey.”
The article goes on to give examples of investments in both Istanbul and Antalya, however all of the areas along the Turkish Riviera will similarly affected.
“Compared to all the global emerging real estate markets, it is possible that Turkey’s property market is top choice for private investors looking for a suitable balance between risk and reward. Turkey continues to politically and economically emerge; there may be risk, but as it counterbalances this ever decreasing risk is also an ever increasing potential to profit from property in Turkey.
Property investment in Turkey is equal with choice as an investor has a choice of location, investment approach, target market and undeniably an unsurpassed diversity of property advantages.”
Source - www.nourgroupturkey.com