Property investment boom for Turkey

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The property market in turkey is booming, as the country becomes a hotspot for investment.

Tim Morgan, Senior Partner at Emerging Real Estate, commented on Turkey’s growing economy; “Tourism has been driving the boom in Turkey and savvy investors are recognising that buy-to-let properties here will be very profitable.”

Whilst the Euro has been hit badly by the current economy climate, Turkey has seen a growth in the property market.

Mr Morgan added that Istanbul’s housing market is performing extremely well considering the state of global finances.

Turkey has seen a boost in buy-to-let properties and they make an attractive income for overseas investors.

Earlier this month, the Turkey Residential Property Price Index revealed that house values have climbed by 0.71% in November.

This represents a 7.33% rise across the country in the last 12 months. Istanbul alone experienced a monthly rise of 0.8% and year on year prices within the city have risen 8.5%.

Turkey is a rich environment for investors to play with.

Tourism is a key income for the country and many can benefit from buying homes to rent out as holiday accommodation.

With so many Brits and other Europeans heading to Turkey for a cheap holiday, it could be an ideal place to invest your money.

Transfer Money to Turkey

If you are looking to invest in Turkey, think carefully about how you will be transferring money to Austria. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are planning to send money to Turkey– which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Property investment boom for Turkey

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