Why invest in Turkey?
The points below are a summary of why property in Turkey is such an appealing investment at the moment.
Economic Reasons
- Long awaited EU accession talks in October 2005 ended with success and, as a result, Turkey has experienced an increased interest from foreign and domestic investors. Turkey is expected to join the EU in 2015 and is ready to cooperate and introduce substantial changes in order to comply with the EU standards.
- Stable currency, 4 consecutive years of economic growth (7% annually)
- Government sponsored tourism investment projects. The government’s target is to create dynamic real estate market driven by tourism.
- Tourism is one of the main forces for the Turkish economy with hotels, restaurants, transport and communication, as well as real estate generating the bulk of the country’s revenue. Turkey generated 18 billion dollars of revenue from tourism in 2005 that accounts for 12 % of the country’s GDP. 10% of employment comes from tourism industry.
- Increasing FDI (foreign direct investment) 11 billion dollars in 2005 (e.g. Vodafone, Tesco)
- High property prices in Spain, Cyprus and France has seen attention focus on alternative locations such as Turkey.
- Turkey is the gateway to the Middle East and Caspian petroleum, and the Central Asian natural gas, which are regarded as the main energy reserves of the world. The Baku-Tbilisi-Ceyhan pipeline opened in June 2006.
- Turkey is also a major trading partner with the UK , which is the 5 th largest investor in Turkey . British firms cover a wide range of sectors and over 41 British companies have invested in Turkey.
- Turkey has the youngest population on the continent with 45% of its inhabitants under the age of 25. This underscores Turkey ’s skills and learning capacity and creates a strong local market.
- Turkey ’s dramatic growth has helped to create employment. Unemployment rate fell to 8.8% in 2006. Inflation based on consumer prices in 2006 stands at 11.7% and interest rates declined to 19%.
- Excellent capital growth at around 25% annually.
- No capital gains tax after 5 years.
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What Differentiates Turkish Property Market From Other Countries
- Property prices are relatively cheap; 2 bedroom apartments start from £20 000.
- Straightforward buying process, no red tape.
- There is no need to set up a company.
- There are no restrictions regarding letting your property.
- There is no limit as to how many properties an individual can buy.
- Foreigners are entitled to have the same rights as Turkish nationals when buying a property, this includes taxation.
- Government is investing heavily in improvements to the infrastructure to create a world-class resort area.
- Two 5 star hotels are nearing completion.
- New marina construction commenced and be completed in 2008 placing Altinkum on the international tourism market.
- Extensive improvements to the local infrastructure are already under way.
- A new ferry terminal linking the town direct to Greece is planned for 2006.
- There are plans for golf courses in the area.
- Property prices in Altinkum are relatively lower than in other parts of Turkey and a lot of potential for growth.
- The town is accessible from both Bodrum and Izmir international airports which are served by 22 international and regional UK airports.
- Best investment form is proved to be off plan developments in and around Altinkum. Didim is classified as Tourism development centre.
Use the enquiry form today to learn more or download a brochure
Tell a friend about this opportunity to purchase a Property for Sale in Altinkum Turkey
Why Invest In Altinkum
Use the enquiry form today to learn more or download a brochure
Bookmark this page for all the latest information about Investment Property Turkey
About Solmet Limited
Solmet Limited is an International Property Agency established and based in the UK with an office in London and specialising in selling properties in Turkey . We are an independent company whose aim is to give assistance and best possible advice about all aspects of acquiring a property in Turkey.
We are not bound to a mother company which means that we are not limited in our choice of properties or obliged to promote a particular development.
We have a large portfolio of properties including off-plan, new and resale properties in attractive locations along Aegean and Mediterranean coasts.
We assess each client’s individual circumstances and requirements and introduce them with an area, and a type of property which we believe will bring them satisfaction and good returns on their money.
When evaluating a project’s potential for a good investment we take into consideration a number of factors such as letting potential, demand and supply ratio, prospective growth and finally exit strategy.
Our team has access to latest independent market analyses which helps us stay on top of the changes and constantly follow any modifications in Turkish Property market.
We take due diligence when searching for new developers and their projects. As a result, we decide to work only with reputable and long-established developers who use their skills and expertise to provide you with properties of highest standards and in prime locations.
We believe in honesty, therefore, we act with integrity and transparency when dealing with both buyers and sellers.
Use the enquiry form today to learn more or download a brochure
Tell a friend about this opportunity to purchase a Property for Sale in Altinkum Turkey
