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Improved transport links boost buy-to-let in Turkey
The demand for investment property in Turkey is expected to benefit from recent improvements to the country’s transport links. With Turkey’s airports expanding and new flights being announced in response to growing demand, the country is steadily becoming an even more attractive prospect for holidaymakers as well as second-home owners and businesses.
Turkey’s dynamic capital city of Istanbul is home to one of the airports that has recently announced plans for improvement. Prompted by rising visitor numbers, the airport has made a £200 million deal together with an Indian investor for a new terminal to be built. Dalaman Airport has recently undergone improvements costing £75 million and is now receiving services from low-cost carriers and from a number of British airports. A staggering £1.4 billion is going into the expansion of the international airport at Antalya, and this is due to receive flights this year.
British Airways has unveiled their new route to Antalya Airport which will start in April, running between Antalya and Gatwick three times a week. The area will also be served by another international airport when the planned Gazipasa Airport becomes operational.
The growth in Turkey’s tourism industry is reflected in the growth of the country’s international tourism fair which took place in February 2008. The East Mediterranean International Tourism and Travel Fair is considered by exhibitors to have boosted business opportunities in the region’s tourism industry. The event is the largest of its type in Eurasia and has doubled in size since last year.
The interest in Turkey from investors tends to be either in properties in tourist areas, or in the growing capital city. Improved international transport links will only strengthen the buy-to-let market, as well as attracting business to support ongoing growth in Istanbul.
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