What's Hot in Turkey's Property Market?

The 37^th largest country in the world, Turkey boasts the type of property prices you would have found in Spain 20 years ago, making it an excellent choice for investing. So, if you’re interested in exploring property opportunities here, where is best to look?

Dominic Whiting, editor of the Buying in Turkey Guide suggests the three hotspot places in Turkey you should be keeping an eye on this year: Dalaman, Bodrum and Cesme.

New Gatwick-Dalaman flight four times a week

Dalaman, on the southwest coast of Turkey, is one of the destinations that Easyjet will commence flying to from the end of March 2008. The service will run from Gatwick four times a week and is expected to boost both tourist numbers and property rental opportunities. New build properties in Dalaman start at about £44,000.

Bodrum - established, and particularly popular with the Brits

Bodrum is already an established tourist location and is one of the most popular areas for British property buyers. In fact, there are about 3,000 Brits already living there. This Turkish port is in the Mugla Province, on the Bodrum Peninsula and offers a good choice of properties. Bodrum has seen many new developments sprout up over the last few years, meaning there are many new property opportunities too. If you’re buying a new apartment, expect to pay from £60,000.

Cesme - for serious property investors or those looking for an authentic Turkish resort

On the west coast of Turkey lies the town of Cesme. It’s a popular place within Turkey, but has - so far - had little interest from foreign buyers. Nevertheless, Cesme’s property market has a real lot going for it. “The Cesme market has been red-hot thanks to strong demand from Turkish buyers, and this domestic popularity makes property in the area a good investment,” comments Dominic Whiting. “It’s also ideal for people who want to be in a real Turkish resort and not surrounded by foreign tourists.” A new apartment in Cesme would set you back about £68,000.

So, why Turkey?

It’s not only Dominic who thinks Turkish property could be a good buy. A feature published in the Telegraph last year, highlighted the county as an emerging property hotspot.

As a country, Turkey has over 300 days of sunshine a year, a great climate, heaps of history and a relaxed lifestyle. Predictions suggest 2008 may bring up to 25 million visitors to the country, which is positive news for investors. Other great reasons to consider Turkey include:

• The low cost of living. A beer costs about £1 and a bottle of water costs 40p.
• Capital growth. It’s been averaging at 21% for the last few years.
• New low cost flights. They’re sure to boost visitor numbers to the country.
• The great coastline. Turkey’s stunning beaches have a never-ending appeal with tourists.
• Government development plans. They’re helping to increase amenities and facilities for tourists.
• Planning controls. There are height limits on new builds, so you won’t unexpectedly find yourself in high rise hell.

So, if you’re planning to invest in overseas property in 2008, Turkey might very well be one of the countries you’ll want to look at for some very interesting property deals.