In recent years, many people have been flocking to buy real estate in Turkey. From old world architecture, to first world amenities; Turkey has been the rising choice for various reasons.
Below we discuss four of the biggest reasons that nabbing some real estate in Turkey looks like a sound investment.
Turkey is currently enjoying strong economic growth The Turkish economy has shown steady growth over the last decade and is currently experiencing the lowest inflation rate it has had in years. A combination of practical fiscal policies, major structural reforms as well as a meticulous macroeconomic strategy has yielded Turkey the current economic stability it is enjoying now.
Between 2002-2014, Turkey’s GDP has grown an average of 4.7% annually. Needless to say, steady economic growth is good for business; especially realestate.
Properties in Turkey make for great rentals
Turkey is currently experience a boom in rental property and those in the know are quickly cashing in. This is good news for those who have rental property, especially those who have furnished one-bed apartments as these are in
incredibly high demand.
Being able to rent out to tourists means there are peak months and non-peak months, but even finding a place to rent as a local (year round) has been more difficult as of late meaning the demand is there, year round.
There is huge property demand
One of the reasons why investors are cashing in on Turkey’s rental boom is because (as of right now) the demand far exceeds the supply. There is such a huge demand for both rental homes and vacation rentals that realtors simply cannot keep up.
Turkey is a great place to visit
Aside from all the economic perks of purchasing properties in the country, let us state the obvious: Turkey is a wonderful place to visit. Some would go as far as saying it is the perfect marriage of East and West; a melting pot of all cultures.
With pristine coastal scenery, wonderful cuisine and a long list of exciting activities; it’s no wonder that Turkey remains one of the world’s most popular tourist destinations.