Turkey Property Boom Brings Widespread Recognition of Value

Property boom. Two words you don’t hear very often lately, especially not in Europe. But that is exactly what we keep on hearing about Turkey.

Turkey is enjoying a Property Boom, said the Bloomberg reporter as she opened on a Bloomberg video report of the Turkish developers who are currently converting Istanbul’s famous historic buildings into modern, usable ones.

Turkey is finally having its day in the sun, and rightly so. Turkey has its fair share of critics, but even they very rarely question Turkey’s appeal to holiday makers. 300 days of sunshine per year, clean, safe beaches and a rapidly developing tourism infrastructure building, shops, restaurants and activities around what is already there.

Turkey is doing now, what Spain, Portugal and Greece did before adopting the Euro; making a holiday in the sun affordable for Brits and others throughout Europe. If there is one thing us Brits love it is our holiday in the sun at least once per year.

The cost of living in Turkey is thought to be at least 25% lower than it is in Britain, and when you add to that the fact that you get 2.25 Turkish Lira for every 1.00 GBP and it makes it twice that. This is why tourism from Britain to Turkey has been rising by at least 20% per year for the last few years according to the Association of British Travel Agents.

Spain is still the biggest British tourism destination by miles, but it has reached a plateau several years ago says ABTA.

Ever since Spain adopted the Euro, tourism to Turkey has been rising at Spain’s expense. This was seen to accelerate during 2009, when the Euro gained heavily against the pound. This has since reversed, but the thousands of people who experienced the low living costs, fantastic value, and exquisite cultures on offer in Turkey will keep coming back, and telling all their friends and family that Turkey is the new Spain.