Reasons to buy Real Estate in Turkey

Here are some more reasons why Turkey is increasingly attractive to property buyers;

1) No capital gains tax

Turkey offers some tax incentives that are of high interest to property investors, If you sell your property after four years, there is no capital gains tax to pay.

2) Excellent value front line properties with high capital growth potential

The Turkish market still offers excellent quality properties at prices that most other locations of a similar calibre could not offer 10 years ago. Property price increases along the Turkish Riviera have been driven by a growing demand for holiday homes and apartments and individual investment properties.

3) Over 25 million tourists visit Turkey each year and boost the property market

Turkey ranked eighth in the world for tourism revenue and the current demand for Turkey is reflected in the 25 million tourists it attracts per annum ranking it 9th in terms of the total tourist numbers. In year 2007, visitor numbers for Turkey showed an 18% increase on 2006 and this figure is expected to double within a few years.

4) Mortgages now available to overseas buyers

The new mortgage legislation introduced in 2007 will undoubtedly create new buy-to-let opportunities to meet the growing demand for accommodation from tourists. This translates into solid rental yields by buy-to-let investors who purchase in the best tourist locations.

5) Turkey offers a modern infrastructure and thriving economy

Turkey has a solid and modern infrastructure that is rapidly growing in line with its economy, tourism and property markets. With a population of 70 million, of which 70% are younger than 35 years old, Turkey has a strong and growing local market.

6) EU Membership

Although EU membership will undoubtedly support Turkey's economy and as one aspect of this, its property market, property agents remain confident that the health of Turkey's property market is not dependent upon EU membership in the same way it clearly was for countries such as Estonia and Czech Republic.