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Top 10 Locations for Overseas Property Investment - 5
Country: Turkey
Property in TurkeyAccording to official government figures, there has been a 20 per cent rise in tourism numbers in the past year, and this has increased British demand for Turkey property. Sandwiched between Asia and Europe, Turkey is growing in popularity as a holiday destination, among Brits seeking to avoid the more expensive eurozone, where property prices are generally more expensive. Around two per cent of all overseas property purchases made by Britons in 2007 was in Turkey, and this figure is rising.
The letting market is reaping the benefits, with an average annual average yield of 6.47 per cent currently achievable, according to research conducted by the Property Global Guide.
Greater foreign demand combined with domestic demand for property in Turkey is also driving capital growth. Property and investment company Aston Lloyd report that average Turkey property prices have been appreciating at an annual rate of 7.3 per cent. This rate of growth should continue in 2009, on the back of a strong economy, a general housing shortage, and a fast maturing mortgage market. Following a series of structural reforms, implemented by the Turkish government, the economy is now in a far healthier state than it was in 2001, when the exchange rate system collapsed while banks and financial institutions went bust.
Consequently, Turkey’s economy, although not immune, has not so far been severely affected by the global credit crisis, and appears to have enough cash reserves to deal with the country’s liquidity concerns, although high interest rates remain a concern.
Popular investments include property in Istanbul, property in Dalaman, property in Altinkum, property in Fethiye, property in Bodrum, property in Belek, and property in Antalya. Although Turkey has hopes of joining the European Union over the next few years, there is currently no entry date in sight, partly because it remains a market characterised by low transparency, this is illustrated by Turkey 's low ranking in Jones Lang LaSalle’s Real Estate Transparency Index.
There have been a number of reports about Turkey property developments not being completed and developers running off with investors’ cash. Ensure that you conduct all appropriate due diligence, certify that the developer is credible, check all planning documents, use an independent solicitor and make sure that the property for sale is accompanied by title deeds. Homebuyers should also bear in mind that it’s only possible to buy a property within a designated municipality zone.
First published in February 2009.
Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
There's also a range of articles for you to read about buying property in Turkey:
As well as our overseas news stories affecting the property market in Turkey .
Or view our range of property for sale in Turkey.
See Also: Turkey
Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
Some properties in Turkey
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Price: £215,000
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Type: Villa
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Bedrooms: 5
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Location: The villa is located in Sile, a quaint Black Sea suburb of Istanbul, on the Asian side of the city.
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Overview
This land has got an amazing bafa lake view .its our own land great investment opportunity or best place to build a villa.Located between Bodrum and Didim only 40 mins from airport and 20 mins from all amenities and town centre.
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Overview
This land located between Bodrum and Didim only 25 mins from airport and 30 mins from all amenities and town centre. Superb area to build your dream villa, you can also use our design and construct services.
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Overview
Great investment opportunity by bafa lake. Superb area for building your dream villa. This land 300 sqm, has got building permission which is ready to build. Stunning views of Bafa Lake,mountain and bodrum sea.220
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Overview
This land has got an amazing bafa lake and bodrum sea view.its our own land great investment opportunity or best place to build a villa.
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Overview
If you are thinking buying land to invest you are on right place. Great investment chance in popular resort yesiltepe (greenhill). squaremeters of lands from 300 to 900 and prices starts from 8.600.
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Price: £16,500
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Type: Apartment
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Bedrooms: 1
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Overview
Bargain properties in didim, This properties situated in didim, its only 50m from marina road where you can get minibus to town centre in couple of mins and to the beach front in 10 min.
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Price: £17,000
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Type: Apartment
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Bedrooms: 1
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Overview
Cheap apartments for sale in didim, This apartment has situated in central of didim, just of the main Ataturk Bouleward. Its walking distance to the didim town centre.
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Price: £18,000
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Type: Land
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Overview
Plot of land in Greenhill (Yesiltepe) very relaxing place. Superb investment chance ready to build for your dream villa. You can also use our design and construct service build your dream home. 300 sqm permissioned land ready to build.
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Price: £19,000
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Type: Apartment
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Bedrooms: 2
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Overview
Green apartment situated by the famous temple of apollon only 100mt from marina road and 30mt from the main road where you can get dolmush to get didim town centre and altinkum.
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