Turkey has a growing population which places pressure on housing and therefore real estate prices. Turkey has always had a valuable tourism industry due to its location and combined with higher interest and the EU expection, prices are seen to be rising from a low point. In real terms residential property prices may have fallen 25%-30% across much of the country since the start of the global recession in 2007. Turkish real estate is also relatively cheap when comparing to Western European standards so there is plenty of capacity to expand.
Turkey is a place where foreigners can buy Turkish Freehold Property in a number of diffrent ways. There at times restrictions but using a good lawyer will overcome most if not all obstacles.
As noted the OECD feels that Turkey is likely to see the highest rate of growth in Europe for the foreseeable future.
If you are looking to Invest in Turkey Banks such as BNP Paribas are offering excellent loan to value (LTV) mortgages to international buyers - IPD can provide details on a number of different investment avenues to consider if looking to purchase a property in Turkey as an investment. Ask to speak with an IPD Turkish Investment Specialist.
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