I can’t begin to tell you how many times friends and acquaintances have asked me is it a good idea buying property in Turkey? As someone who bought in Turkey almost 15 years ago I am guessing you already know my answer. Why isn’t it a good idea? Turkey is a truly beautiful country, so much so it is now my full time home. So, do I think it’s a good idea, no, I think it’s a wonderful idea.
I am asked this question mainly for two reasons, either someone wants to buy a holiday home on the coast or they want to make an investment. The two do go hand in hand however if someone wants a holiday home I would say look at any of the coastal resorts and there are plenty of them to choose from. If an investor asks me then I would probably advise a city property.
Who buys property in Turkey?
Virtually all ages buy in Turkey from young professionals, families, groups of friends, the older generation looking for a bolthole for retirement and investors who come in all shapes and forms.
Why do they buy property in Turkey?
Honestly, as lovely as this country is it’s because of the affordability. In Turkey you can have a luxurious lifestyle without the cost. Even the most affordable properties are designed well with spacious living in desirable locations often close to the beach. Complexes usually offer communal swimming pools, landscaped gardens, some have added facilities such as a gym, games room, café, shop and a bar. Buying property in Turkey offers a whole range of properties from apartments, duplexes, penthouses, townhouses, villas and bungalows.
The holiday home buyer – coastal resorts
Where to begin, Turkey has 8000km of stunning coastline and dotted along this gorgeous coast are pretty resorts and villages some are busy and vibrant and some are peaceful and laid back. They can cater to young couples and group of friends who yearn for sun, sea, sand and nightlife. Families look for family friendly resorts with great beaches and shallow waters, which are safe for tiny tots and where the entertainment is very much family themed. Couples seek beautiful beaches with amazing views, a superb range of restaurants and sightseeing and they tend to go for upmarket resorts with a relaxed atmosphere.
The investor – cities
These savvy business men and women know where to put their money, they research which countries are visited most often, where the economy is thriving and they act on it. Turkey receives millions of visitors every year and 2018 is positively booming with foreign tourists taking advantage of the exchange rate between Great British Pounds to Turkish Lira. They are flashing their cash and loving spending it. Investors buy in the cities mainly as they can rent their properties to holiday makers and locals who tend to be young professionals. Some cities now in Turkey are experiencing the foreigner who wants a weekend break with a difference and tourists are flocking to these cities.
The popular coastal resorts
The Aegean coast is favoured by families and the resorts of Akbuk, Altinkum, Bodrum and Kusadasi are especially popular. Fethiye is again a family favourite with lots of lovely little villages within the Fethiye area. Groups of friends like Fethiye with the hot spot of Hisaronu and Bodrum gives them a vibrant nightlife. The upmarket resorts of Kalkan and Kas are for the more discerning buyer who loves beautiful scenery and a more traditional sense of Turkish life. Sports fanatics or shall we say golf fanatics plough their money in Belek with its 14 championship golf courses both holiday makers and investors buy here.
Istanbul is the favourite and is an investors dream; this city is rapidly growing with award winning designed apartments being built on the outskirts offering a luxury lifestyle. Antalya and Bodrum are also on the investor’s radar with many already investing there some years ago. The growing cities of Izmit, Yalova and Bursa offer affordable properties at the moment however as expansion is set to continue the prices will rise. The interest here is their close proximity to Istanbul. City breaks in Istanbul are flourishing as the new must to do weekend destination as tourists have basically visited all the main city break tours in Europe.
Is buying property in Turkey a good idea for a holiday home and or investment? I think I have given you enough reasons to wet your appetite, see for yourself!