At the moment and for the foreseeable future investment property in Turkey is an excellent opportunity, providing that you purchase the correct type of property, in a location that is suitable.
Standing on top of a hill in Fethiye you can find a panoramic view where the mountains tower behind you and the sea quietly glistens in front.
In between this contrast of nature the town has settled and as you watch the sun rise you can feel it coming alive, bustling by day and lighting up at night.
This can only be described as one of the finest developments in Fethiye, if not the finest! This is an excellent development providing superb capital gains and rental income potential as well as personal enjoyment for your family and friends to take many fantastic holidays.
At the moment you can acquire a luxury apartment for around £ 28,000 (furnished)
Fast movers always make the money!
A few of the reasons why Turkey is one of the hottest locations for property investment:
1. Turkey is the 3rd fastest growing economy in the world
2. International inward investment is dramatically increasing, the FDI (Foreign Direct Investment) was up over 350% from 2004 to 2005
3. Over 9% increase in Gross Domestic Product per annual, compared with the UK which is about 1.8% per annual
4. Turkey had 21 million tourists in 2005 and this is expected to grow to 25 million in 2007, Tourism is increasing by over 25% per annual
5. Reducing inflation, from 70 +% per annual in 2003 to 7.7% in 2005, the forecast is that inflation that will continue to reduce even more to European Standards
6. Increasing accessibility with low cost airlines introducing new flights on a daily basis from most European cities all year round
7. Liberal foreign exchange. The New Turkish Lira is fully convertible meaning that property owners and investors can freely transfer their capital gains and profits abroad
8. European Union is expected; at the moment Turkey are preparing new laws and regulations in order to become a full member of the EU, which is estimated to be in 6 – 8 years
9. In anticipation of Full EU membership the property prices in Turkey are constantly rising and should continue to do so for the next 3 – 5 years until they reach similar level to other European countries as the time to membership draws closer