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Business booming in Antalya and Mugla
Antalya and Mugla offer great investment opportunities, thanks to large injections of foreign capital, according to the Turkish Daily News.
The paper reports a recent study from the Turkish treasury, which reveals that 27 per cent of companies founded using foreign funds in 2006 were based in the two cities.
The majority of the businesses joined the thriving tourism sector in the country, while Antalya saw heavy investment in real estate.
The growth of overseas commercial investment has been attributed to Turkish legislative reforms from 2003, which relaxed rules regarding the sale of property to non-Turkish citizens.
Since the legal changes, some £3.6 billion has been invested by foreigners.
The treasury figures also revealed the extent of foreign ownership in the two cities.
Some 23 per cent of Antalya real estate (around 14,610 properties) is owned by foreigners, while 8,251 properties in Mugla are thought to be owned by foreigners.
Investment in Turkish property is becoming increasingly popular, thanks to its strong economy but low prices.
The Federation of Overseas Property Developers, Agents and Consultants recently praised Turkish property developers for their "highly professional" approach, reports Ready2invest.
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