- March 5, 2018
- Posted by: Cemal Sert
- Category: Investing in Turkey
There are many reasons as to why you would want to relocate to Turkey. Apart from the weather, great activities to partake in and a very attractive cost of living – all of which make for that perfect lifestyle.
Turkey covers a very large area of about 783,562.38 km² which means there is a lot of potential for development. In the last two decades, the Turkish real estate sector has grown tremendously.
There is an increasing demand for homes throughout Turkey and with hugely attractive conversion rates at the moment with the Euro, GBP and the USD; it is more appealing than ever to invest in property here.
However; along Turkeys south and western coasts where there are high levels of foreigners, there seems to be a drop in property prices.
The reason for this could be due to the high level of foreign ownership in these regions – sellers tend to calculate costs in Turkish Lira and even with a price increase, properties will still represent a significant bargain to overseas purchasers as their currencies are much stronger than the Lira.
At present developers are offering incentives to local and foreign buyers alike, including lower prices and extended payment terms.
For more information about buying and selling property in Turkey, go to our Buying and Selling Property section of our website.