Turkey Property Investment News

British buyers show increased interest in Turkey

The results of the latest Global Property Hotspots Report – compiled by currency specialist HiFX - show that British buyers of overseas properties are increasingly looking to Turkey for their purchases this year. The company has seen a significant rise in the number of enquiries received from British buyers regarding Turkish properties throughout July.

Statistics from the Turkish government show that Britain accounts for the second largest number of buyers of Turkish property. The number one spot is taken by German buyers, who purchase nearly 25% of the country’s property bought by non-Turkish citizens.

There are a number of factors thought to be behind this increased interest from overseas investors. HiFX claims that as the international property market evolves, Turkey is becoming a more “mainstream” destination for retirement. Therefore investment comes not only from those buyers looking for a holiday home or investment property, but also those with relocation in mind – whether year-round or for the winter months. It was recently reported that Turkey’s mortgage market was opening up to overseas buyers, thus making the market more accessible, and Turkey’s infrastructural improvements are continuing as the government works towards EU membership.

In addition to this, the Turkish people have recently re-elected the AKP – the Justice and Development Party – to government for another term, with a record majority in Turkish political history. This is thought to be positive news for the country’s property market, as the party is committed to policies of liberalisation; economic and societal reform to ensure Turkey meets the criteria required for EU membership; and long-term economic growth and stability. The rising popularity of Turkish property shown in this latest report is evidence of growing investor confidence in the country’s future.