Turkey Property Prices Are Rising Faster Than You Might Think

Turkey PropertyThe UK and most other property markets in Europe are still on life support however look east to the fringes of Europe and you will find a country that has seen prices rise 11.4% since last year.

So what is so special about property in Turkey at the moment?

Turkey is one of the few countries in Europe I find exciting at the moment and it is not just because we have seen prices rise by nearly one percent a month this past 12 months.

There have been some major changes to the laws allowing foreigners from more countries to invest in property in Turkey. They have also done this at a time when the appetite for investing in properties in the country has never been greater, which is one reason why we are still seeing prices rise.

I’m sure in your own country you are familiar with seeing celebrities endorsing products and in Turkey they have recruited a couple of TV actors, Kıvanç Tatlıtuğ and Tuğba Büyüküstün to help sell the idea of investing in Turkey to fans in the Persian Gulf.

Even the government are getting involved, asking their ambassadors to actively promote the law to increase property sales. Not surprisingly it worked. The Turkish Central Bank has just confirmed that there has been a mini investment boom since the new property law was published in May.

The banks said that approximately £706 million worth of property was purchased by foreign investors. This was four times the total purchased by foreigners in 2011.

Unfortunately not everyone has been invited along to this latest property party. It should come as no surprise that citizens from neighbouring Syria are not allowed to invest as well as those from Armenia and North Korea.

The country has even banned Greek citizens from investing in coastal locations and that includes areas of Istanbul.

So if you happen to be an investor from a country that is on friendly terms with Turkey, then you won’t get any trouble from the Turkish authorities unless you are building a house next to an army base.

There are citizens from 183 other countries who can take advantage of this latest boost to the Turkey property market. So make sure you get there early to get the best out of your investment and take advantage while prices remain low in comparison to Western Europe – I don’t anticipate they will stay low for long.

Do you see Turkey as the best place to invest in Europe? Please leave your comments below:


Kind regards


Brett Tudor
Property Expert

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