When you are approaching the age of retirement a common question you find yourself asking is do I stay in the UK for example or move abroad? A better lifestyle in a warm climate is inviting, to say the least, however, to discover that you can live in Turkey for around 73% cheaper than staying in the UK is a huge draw for most. Increasingly, investors in Turkey tend to buy two properties, one to live in permanently and one to buy- to- let because the rental potential in Turkey now is on the increase. Recent figures from Turkeys statistical institute informs us that foreign investors have risen by 70% since 2013.
Receiving a rental income in Turkey boosts your pension each month and it’s not just holiday makers and visitors who rent a property out for the duration of their stay. More and more young professionals in Turkey are breaking from family traditions where they all live together under one roof, they are wanting their independence in renting a property for themselves and are eager for a better standard of living.
What we are seeing now are crèches and nurseries opening up everywhere in Turkey which encourages young married women to have a family but return to work, mostly these women have well-paid jobs and it’s within their best interest to return to work as they will enjoy a healthy pension on retirement. Currently, a Turkish national has to work for a minimum of twenty-five years in order to qualify for a full retirement pension or, at the age of just 45 they can retire if he or she chooses with a full pension from their employer. Foreign owners are benefiting from these young professionals renting as they prefer to rent beautiful apartments and villas and are happy to pay the higher rental fees, they are seen as climbing the social ladder and are envied.
Investors and holiday home buyers who invest their cash in Turkey know that annually on average 30 million visitors travel to Turkey and prefer to rent for the duration of their stay rather than pay expensive hotel bills as renting gives more space, freedom of movement and privacy, it is the preferred accommodation of visitors and holiday makers to Turkey. It’s not only the summer season that gives a rental income as Turkey enjoys 300 days per year of sunshine it’s a country that is visited throughout the year.
So, if you’re approaching that time where you are considering leaving the UK for the warmer climate of Turkey consider buying a property for yourself to live in and investing in a buy-to-let to boost your pension. There are too many reasons for me to list all the benefits of living in Turkey but knowing that you can enjoy a wonderful happy, healthy lifestyle in the sun for around 73% cheaper than staying in the UK is worth careful consideration in making this lucrative investment, it will give you an incredible new lease of life!