Turkey Property Investment News

Plans to boost Turkish tourism announced

The market for investment property in Turkey is looking healthier than ever, with large-scale investors committing millions to real estate projects in the most popular tourist areas, and the recent launch of a marketing drive designed to boost the number of foreign visitors coming to the country.

According to Culture and Tourism Minister Ertugrul Gunay, the latest marketing scheme means up to £73 million is to be spent on promoting the country as a year-round holiday destination. It is hoped that the initiative will mean more people choose to visit Turkey outside of the peak summer holiday season, as well as during the hotter months.

Speaking to the Turkish Daily News, Mr Gunay said: "Turkey has riches other than sea and sand. That is why we give priority to 'four seasons, 12 months' tourism campaigns." He added that the government was aiming to attract 25 million tourists in 2008, five million more than the amount seen this year.

This follows comments from Volkan Simsek of the Professional Hotel Managers Association, who told Today's Zaman that Turkey had the potential to double the amount of money generated by the tourist industry.

Confidence in the property markets of Turkey’s tourist hotspots appears to be high. It was recently announced that real estate investment company Dolphin Capital Investors had committed a minimum of €50 million to a partnership with the Turkish developer Kemer Group, with €30 million going into two projects in the popular Antalya area.

The news that the government is intending to create a year-round demand for holidays in the country will be welcomed by owners of holiday rental properties. As well as a solid and lucrative rental returns, the benefits to the economy of tourist areas and the country as a whole are likely to be widespread.