With Turkey’s economy hitting the headlines in 2018, Benoit Properties has seen a wave of investors looking to take advantage of the favourable exchange rates offered by the country’s property market.
From the coastal regions with swathes of tourist visitors, to the bustle capital of Istanbul, Turkey offers excellent opportunities to add great properties to your portfolio with great potential for growth.
Kevin Martin shares some insight into what is driving this exciting market.
What’s Attracting Investors to Turkey?
Kevin says, “The crash of the lira in 2018 was well documented and has meant that buyers can take advantage of softened property prices to purchase quality assets in prime locations in the country. Turkey is a fascinating country with a wealth of business opportunity with Istanbul, thanks to it’s location as the point where Asia meets Europe. Furthermore the tourism scene along the coastal regions continues to thrive. Thanks to the diversity of the country, there really is an opportunity here for many buyers with differing preferences”.
Why Invest? – Istanbul
The capital, Istanbul is home to some of the most wealthy employees in Turkey. Over 60% of its population are under the age of 30, Kevin says “The relatively young demographic of the city gives rise to a young middle class who are now seeking to live in the trendier areas of Istanbul, and want quality, high specification property to let”.
Advances in infrastructure including the build of a brand new airport, and the inclusion of projects as part of Chinas Belt and Road initiative are also attracting a wave of interest.
Kevin continues “Istanbul sits in a strategically important location for many businesses. With direct land routes connecting Asia and Europe, plus numerous shipping lanes and of course the airport which will be able to connect passengers globally”.
Read our insight into the Istanbul property market here.
Why Invest? – Bodrum
An ever popular holiday destination, Bodrum town welcomes around 1.1 million tourists throughout the year, and is particularly popular with visitors from the UK, Russia, and the Netherlands.
Kevin advises “Bodrum is an exciting destination for visitors. From the yachts arriving in the mega marina, bringing wealthy visitors who want to explore the designer shops and upmarket restaurants to those who wish to enjoy a more sedate break enjoying Bodrum’s pristine beaches”.
And entry levels are particularly attractive too as Kevin says “At Didim Beach Resort, we are offering apartments in a beachfront location from just €91,000. With an 8% net rental return assured in the first year. This gives buyers a great opportunity to acquire a high spec property at a very competitive price”.
At Benoit Properties we are specialists in assisting you to source the perfect investment in Turkey. Why not get in touch with one of our expert property consultants to discover how you can take advantage of the huge currency advantages now available.