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Strong Demand for Property in Turkey


Strong Demand for Property in Turkey

 If you have a Turkey property for sale, then you would be pleased to know that Turkey is considered to be one of the 10 hottest real estate markets in the world. Property in Turkey is in great demand, with several thousand foreign investors from across the world looking for the best deals in the Turkish real estate market.

As Nicholas Barnes, head of research at Chesterton Humberts says "For quite a while now I've thought Turkey is a sleeping giant. There are plenty of opportunities for lock and leave beach tourism [or your] typical holiday home."

"You can pay a million pounds upwards for a swanky apartment, but equally you can get mid to budget end properties as well. So whatever suits your pocket, you can find there. People who are worried about what's happening in Spain at the moment might think, gosh Turkey is a better bet. It's cheaper and arguably [there is] less risk attached."

Let’s look at the facts. Turkey is one of the most popular tourist destinations in the world. It is in fact the place most people from the Middle East go to on a holiday. In fact, over 4 million Arab tourists visit Turkey every year.

What has also helped is the growing popularity of Turkish soap operas in the Arab world, which has created a fascination for all things related to Turkey. It’s no wonder then that rich individuals in the Middle East look to buy a second home or vacation home in Turkey.

In fact, Turkey is already being compared to Dubai as a hub for property investors from around the world. Investors from Germany, Great Britain and Russia are reputed to have bought thousands of Turkish coastal property in classy beach destinations such as Alanya, Fethiye, Kemer or Bodrum.  According to the data that is available to us, in 2013, around 15,000 foreign investors bought as many as 21,691 properties in Turkey.

This just goes to show how popular Turkey is with foreign investors. The government of Turkey has also made a committed effort to attract rich overseas investors to the country and has been aggressively promoting Turkish real estate. In fact, the minister for urban planning and development has set a target of $5 billion in revenue from property sales to foreign investors, which is quite ambitious.

Not just new, modern villas, but also older apartments, homes and villas are in demand, especially in classy Istanbul neighborhoods such as Kandilli, Vanikoy, Kanlica, Beylerbeyi, Bebek and Yenikoy. Also popular are villas located around the Sapanca Lake and Kartepe. The city of Bursa and the Black Sea province of Trabzon are attractive as well.

This is clearly a good time as any to sell property in Turkey. However, if you wish to place your Turkish property for sale, it is important to hire international property agents who are trusted by rich foreign investors. That’s why you should hire WorldWide Group to help you sell properties in Turkey.

WorldWide Group are the top UK estate agents for the overseas property market and have excellent contacts among high net worth property investors in the Middle East, Russia and China. We will help you sell property in Turkey to them at the earliest possible time. We have sold hundreds of properties in Turkey in the past and thousands across Europe.

For more on how we can help you sell property in Turkey, fill up the contact form here and get in touch with us.

 




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