Turkey emerges as vibrant area for property investment

mar bonnin palmer

Turkey has emerged recently as one of the most attractive destinations for those seeking to invest in overseas property.

A growing economy, an increasing demand for rental opportunities and some unique banking structures have been cited as the principal reasons for the emergence of Turkey within the property investment scene.

Assetz, the property investment advice company, have singled out Turkey as one of the countries showing particular promise in this area, with Istanbul at the centre of the emergence.

Stuart Law, Assetz Chief Executive, commented; “The property market is underpinned by a strong economy with a growing tourism sector, which can be converted into solid rental yields for investors.”

Istanbul has been singled out as being at the forefront of this emergence, mainly due to the rapid population growth and shortage of suitable homes within the region.

A recent report from the Global Property Guide revealed that rental yields for small apartments within the city were performing particularly well.

Apartments within the 200 sq m to 250 sq m bracket offer the highest returns in Beyoglu at 4.78%, according to the report. Flats of 75 sq m or less in size command the best yields in Sariyer, bringing in 6.87% in total.

It will be interesting to if Turkey’s emergence can be sustained to attract investors on a global scale over the next few years.

Transfer Money to Turkey

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

So if you are sending 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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Turkey emerges as vibrant area for property investment

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