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Latest Articles - Luxury

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Turkish Real Estate : Fairytale for a Fair Price

Thursday, 09 December 2010

turkish real estateWhen speaking of buying property in Turkey, there are some aspects to be taken into consideration.   Most investors are attracted by the fact that property in Turkey means warm weather, relatively low real estate prices, reasonable taxes, low utilities cost, and lenient law.  

They say, ‘If you go to Turkey once, you will keep craving for going there again and again'. This saying is found to be true once you visit Turkey on a vacation and spend ample time knowing about the history, art and culture of the place, while you experience the beauty of nature that has been gifted to this place in abundance.

Where to Buy Property in Turkey

Turkey is surrounded by sea on all three sides, which means that there are vast stretches of coasts in this state, with green and blue waters washing the shores. Along these very coats run mountain ranges high and low parallel to the sea, with excellent scenic beauty to experience.

Turkey is a country which is always buzzing with tourists, who come in from all around the world to watch and admire the beauty of this place. Many of the tourists even buy property in Turkey and settle in this place permanently. Tourism is a major income sector for Turkey, the reason why Turkey resorts, Turkey villas, Turkey hotels and Turkey homes are being built rapidly in different areas of this state. In fact many foreign tourists also buy property in Turkey and let it out to the native people on lease or rent, which brings in a lot of income.

The resort towns like Antalya, Alaniya, Bodrum, Kemer, Belek and Istanbul are full of apartment buildings, residential complexes, and villas for sale. Of course, there are other regions, but one should take into account the contrast between the developing infrastructure of the coastal areas and those that are remote from the sea.

Another reason for the boom in the property and estate sector in Turkey is due to the very low property tax that is levied upon land owners in Turkey by the Turkish government. Also, the norm passed by the government allowing mortgage of property to non-Turkish residents has led to a gradual increase in the number of non-resident people buying Turkish property, either for personal use or for business purposes.

Price for Property in Turkey

Antalya

Prices for property in Turkey are varying from area to area, and sometimes quite significantly. One of the most expensive areas is Antalya, a popular holiday location. The city is growing big along the coast, and the prices sometimes are soaring high, and a cozy villa (about 200 square meters) will cost not less than 400.000 euros.

Alanya

Alanya, unlike nearly entirely developed and thoroughly explored Antalya, is only beginning to enjoy the investors' interest. Here investors will find residential and holiday property, villas, cottages and apartments for sale.  There is a wide array of different types of apartments available for sale in Turkey at this point in time. For example, there are very high end properties that are luxurious. At the other end of the spectrum, there are more moderately priced units that are suitable for men and women who find themselves finding a part of the year in Turkey in business and desire a second residence for their time in the country. Prices for apartments in Alanya range from 600 to 700 euros for square meter.

Istanbul

Buying a property in Istanbul is associated with the lowest investment risks, as the city is an international resort that will always be a top travel destination. Its long history is the best publicity which guarantees a hundred percent return on the investment. According to city authorities, one-room studio apartments have the highest investment potential. Price for square meter depends on the area of Istanbul. In underdeveloped areas, the price ranges from 700 to 900 euros for square meter, while in the downtown the prices rise to several thousands and more. Experts believe that in ten years a price limit for property in Istanbul will reach the level of Oxford Street in London and in Manhattan in New-York.

Bodrum

Bodrum is the hub of social life, a luxury resort, but, nevertheless, the location with the best value for money in terms of real estate. Located at the junction of two seas, Bodrum has immense advantages before other Turkish cities and is still available for private investment. A three room apartment with a magnificent view can cost up to 55.000 euros.

Economists and financial advisors are rating ‘property investments in Turkey' as number 1 viewing the growth of the tourism industry of this state and the rising economy. This ensures that your financial investments will not go waste and are guaranteed to bring high returns in future. If you are looking for a good foreign property investment, then it is right here in Turkey.

Thus, owing to these benefits there are many investors who are increasingly coming in to buy property in Turkey, and then build their own dream homes, villas or hotels. The infrastructure of Turkey is also developing day by day owing to the increase in the economy of the place, which is guaranteed to benefit you in future. On the hand, there are now many flights connecting UK to Turkey, thus bringing in more number of tourists from all around the world to this paradise on Earth.

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