Apartments in Turkey

Apartments in Turkey are looking set to be the big dogs of the next property up cycle in Turkey, as apartments become the popular choice amongst property buyers. Of the people currently looking for property in Turkey, 60% of them are looking for apartments.

This is a recent development. We can put it down to one or both of the following factors:

The downturn has hit people's buying power hard. Banks and other employers aren't paying so many bonuses, many people's wages are frozen, and interest rates are low. Although the latter also is making debt less expensive thereby increasing buying power at the same time, banks will rarely charge the base rate in interest, but will happily pay a much lower rate to their savers.

Investors are increasing in numbers. This is in there because recent research has found that apartments in Turkey are bringing the best rental yields, with small apartments in Istanbul's top districts yielding more than 8%.

But this is a trend being seen all over the world, not just in Turkey. What buyers want is changing as more and more of us live fast paced lives. More people want to live and even holiday in towns and cities and to make this possible you need apartments; you simply couldn't fit enough villas or houses.

Apartments in Turkey start from £20k, which buys a top quality unit from a British developer. It is easy to see why more and more people are buying Turkish apartments.