The sun shines on Turkey

8/4/2010

An increasing number of expatriates are moving to Turkey and making it their home either to retire, to work or to start a new life.

Turkey has changed dramatically in the last five years and the process of modernization happened very quickly in some areas.

In 2000, only around 300 British citizens acquired property in Turkey. In 2007, this figure is estimated to exceed 50,000!

Countries from which Turkey has attracted new residents are Germany, the Netherlands, France, Belgium and the UK.

Because of its unique geographical location, rich and diverse history and its reputation as a shelter for different cultures and civilizations, Turkey is an ideal choice for expatriates and their families.

Turkey is also an emerging property market and one of the world’s fastest-growing economies. It is attracting investors from overseas who hope to achieve higher rewards than in a mature market and who can see the potential high rental returns and capital growth.

Turkey is the largest economy in Eastern Europe, the Balkans, the Black Sea basin and the Middle East. It is the European Union’s sixth biggest trading partner and the world’s 7th largest emerging economy. Inflation has been going down for many years and is now at its lowest for the last 37 years.

After Turkey’s acceptance as a candidate member of the European Union in 1999, the Turkish government has sought to allign national laws and policies with the rest of Europe in anticipation of full EU membership.

Turkey has signed all International Law Documentation and is attached to the International Court System (including arbitration). And now Turkey is undergoing rapid transformation in preparation for its EU membership.

Foreign investments are protected by European Union legislation, international arbitration and Turkish government legislation.

For investors looking at overseas properties as an opportunity to make capital gains, it is interesting to note that conservative estimates are of a minimum of 10 to 15% increase each year, yet current prices are still the most competitive in the Mediterranean or Aegean regions.

The Ministry of Culture and Tourism has undertaken to build 100 golf courses in Turkey whilst airports, marinas and ports are undergoing modernization and increased capacity.

Of course, purchasing a property overseas does not have to be purely about making a profit. Turkey, as well as being an excellent holiday destination, gives you the chance to discover different cultures, some superb historical artifacts, ancient ruins and areas of great natural beauty. You can enjoy wonderful weather, meet new friends and explore new horizons. Holiday areas offer excellent facilities that provide a wide variety of activities and excursions and also offer a lively varied nightlife. Whatever you motivation, you are likely to find what you are looking for in Turkey!

Click on the link below to see a selection of properties available www.selectionproperty.com/main/PropertySearch.asp or contact us to discuss your requirements.