The property market in Turkey looks strong for 2008. As investors from overseas market begin to move away from countries with increasing inflation and drops in property values, Turkey will continue to look like a strong place to invest in.
According to BuyAssociation, Turkey will continue to be and even improve as a Mediterranean hot spot for investment.
According to Paul Collins of BuyAssociation, "I think it [Turkey] will compete and become more popular over the next year, particularly with some different kinds of developments coming out now." And, "We're starting to see some golf developments coming onto the market now, and things that are slightly different from just the traditional beach villa near one of the coastal areas or near some nightlife."
Currently, there are several things holding Turkey back, but these are likely to change soon. For example, the country does not have any major ski locations currently. According to Collins, new ski resorts are in the works and should start to show up within the next three to four years. Another limiting feature about Turkey is the restrictions in place in some of the best investment locations, but this too is set to change.
According to Collins, "One of the main things with Turkey is access, particularly on the south coast there is only one international airport, which means it is a little bit harder for people to get to those areas." The good news is that additional airports are being added, with low cost flights available to connect Turkey to Europe and beyond.
With property prices much lower than in Cyprus and Greece, the stage is set for Turkey to become a powerful property market this year.