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Turkey leaps in popularity polls (2008-09-09)
According to A Place In The Sun magazine's annual top 20 buying destinations, Turkey has risen to the bronze position, knocking last year's 3rd placed Bulgaria into 8th in popularity. Irrespective of the low cost / high standard of living offered by this Mediterranean country, there are other major factors that have enabled Turkey to claim to its current position.
Corporate investors continue to create new resorts, golf courses and other tourist facilities, while public funds are targeted at improving roads and airports - a clear indication of a growing tourist economy that will greatly boost capital growth for today's property investments. According to Reuters, Turkish Airlines' passenger numbers rose by 16.3% to 18M in 2007, with a sizeable percentage of these travellers coming from the UK and the rest of Europe. Further, the national carrier recently explained plans to upgrade and replace parts of its fleet this year and introduce extra aircraft to handle additional routes.
These figures bode well for existing property owners, through the promise of greater interest in the market, and for the rental market - both from a business and leisure perspective - thus attracting even more buy-to-let investors. Areas currently picking up momentum on the international radar include
Alanya and Belek. Both lie on the Southern Riviera and the recent announcement that Alanya's international airport is to open this year has already seen investors flocking to the city.
The fact that Belek is a golfer's idyll has not been lost on BA & BMI, both of which are increasing their number of flights to Antalya International Airport - 20 minutes from Belek. Sean Gillic, Managing Director of developer TPI Turkish Property Invest, said, ‘compared to many European countries, property in
Turkey is inexpensive. Whilst it is always possible to find emerging markets where prices will be lower, Turkey stands out by way of its demographic, economic and cultural constituents.'
