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 Turkey a ‘prime property market’
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Wednesday, June 06, 2007 |
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Savvy Turkey investors are buying property in areas designated Tourist Development Regions (TDRs)…
Paul Benedek of Solaris Villas told World of Property magazine: "Turkey has really emerged as a prime property market over the past decade."
The country has a lot to offer investors as well as tourists.
Property prices have been rising in recent months, particularly in Instabul. They have been underpinned by high tourist numbers, a stable economy and inflation which has been brought largely under control.
Mr Benedek highlighted the particular opportunities associated with buying property in Turkey’s TDRs, were the Turkish government has worked hard in recent years to encourage tourism.
Mr Benedek explained:
"The government started developing the infrastructure to support tourism in newly created development areas.
"This infrastructure has made Turkey more accessible, with new roads and enlarged airports being built and existing road and air routes being expanded - and has made property in Turkey more popular."
One example of how Turkey’s investment in tourism is benefiting the Turkish property market is the creation of a marina in the region of Didim, expected to be complete by 2009.
This sort of development is expected push up property prices in surrounding areas.
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