Examining the case for residential investment in Turkey, the Global Property Guide report, available to view here , highlights the unusual value found in Turkish property. It believes this is because of a number of factors:
• Low property costs
• High gross rental yields
• Low taxes, especially capital gains
• Reasonable buy-sell costs
• Rapid economic growth
• ‘Emerging economy’ demographics
“The common perception is that the housing boom is history. But perhaps we should think again where Turkey is concerned,” says Global Property Guide publisher Matthew Montagu-Pollock.
“The housing boom didn’t occur by accident. It happened because of a specific set of conditions – and these conditions are repeating themselves in Turkey today.”
Istanbul is now the third most visited city in Europe, after Paris and London, and is, in addition, the International City of Culture for 2010. Turkey suffered a downturn during the financial crisis but rapidly recovered and its economic growth is now the fastest in Europe – a trend likely to continue, according to OECD projections.
A recent Global Property Guide report called Turkey ‘Europe’s most attractive property market’; Global Property Guide remains of this opinion.
To find out why, download the Turkish Property Guide report in full here .
