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The Real Estate Market in Turkey

Within the last few years, investment indicators within the global realty market have started hinting around at Turkish properties. Prices are definitely affordable and Turkey is beginning to show signs of an emerging market. Housing prices are showing significant increases, therefore equating to positive capital growth in that country and its current economy. Despite the fact that Turkish overseas property prices have risen nearly 20% in the past two or three years, they are still considerably more affordable than both Eastern and Western Europe.

Preferred properties in Turkey are categories as either Eastern Mediterranean or Western Mediterranean. To the east, Alanya, Antalya, Belek, and Side are the focal cities. The most attention seems to be in the cities of Antalya and Belek because of the sand and sun, as well as the nightlife factors. Additionally, Belek is touted for its great dining and shopping as well as its golf courses.

To the west the focus is on Dalaman, Dalyan, Fethiye, Kalkan, and Marmaris, with a major airport in Dalaman. This city is of particular interest now after having been ignored for so long. For years it was only thought of as the location of the airport, but today, the government is developing the area into a major tourism hub. Marmaris is the current hotspot as far as the resort communities go. It has the beaches, the dining, the nightlife, and the shopping to entice people into the area on a continual basis.

Despite a 50% increase in overseas property in Turkey prices between 2004 and 2005, Turkey’s current low cost of living and their long summers are making this Mediterranean nation an interesting proposition for property investors. The current indicators state that Turkey has been a good investment due to affordable pricing, and will continue to be for roughly 8-10 years when more investors will have probably overloaded the market.