An Introduction to properties for sale in Turkey

Turkey

Turkey’s holiday resorts, particularly those along the Bodrum Peninsula, have long been a favourite holiday spot for Brits. Now the country is opening up to overseas property investors looking for property for sale in Turkey, with the all-clear recently given for foreigners to buy holiday homes.

The Aegean coast, which includes the tourist areas of Bodrum and Altinkum, and the Mediterranean coast (or Turquoise Coast, as it’s known) with towns such as Turunc, Dalyan, Fethiye and Oludeniz, will be the main focus of property investment. Experts predict we will invest up to 2 billion euros per year there in the early stages. This potential investment is also prompting a spate of new developments aimed specifically at foreign buyers, and the expansion of existing airports or creation of new ones.

As an indication of current prices, you can buy a new-build two-bedroom apartment in Artemisia Resort, next to Oludeniz Beach, from £49,000.
Also on the Mediterranean coast, near Fethiye, is Kalkan. With a climate reminiscent of southern California and upmarket villas dotted around the hills, Kalkan property is proving popular with British buyers. In fact, British buyers are now so prolific here that local property prices are often quoted in pounds.

However, Turkey does not look set to join the EU any time soon. Its terms of membership are constantly being debated due to various issues including its history of human rights abuses and its involvement with Cyprus. The current accession talks are unlikely to be resolved within the next 10 years.
In Turkey’s favour, property values have increased annually by about 25% in recent years and foreign buyers do not pay Capital Gains Tax when they come to sell.