Why invest in Turkey ?

EU Entry
Turkey has been accepted as a candidate country for EU membership and expects to gain full membership by 2011 so now is the right time to invest for property in Turkey.

Value for money
Turkish Property prices are less than a quarter the price of similar properties in the more traditional locations and less than one tenth that of in some seaside resorts in Ireland/Uk or any other Country in Europe. This situation cannot remain so indefinitely.

Access/Travel
Approximately 4 hour flight time from Ireland and UK and about 3 hour flight from other european countries  with direct flights to most destination for most of the year and readily available connections for the remainder from UK and European airports.

Activities
Endless ancient sites to visit and every conceivable leisure activity catered for together with delicious food, excellent services and a very modern infrastructure make Turkey an ideal location for property investment, holiday property or retirement property.

People
The most friendly, welcoming and outgoing people you could wish to meet; most with good English and all are happy and eager that both investors and tourists feel welcome and at home.

Security
A very stable democracy together with low crime rates is very reassuring both for your personal safety and the security of your investment.

Climate
Recognised as having the healthiest climate in Europe with long dry summers and very mild winters and the lowest pollution levels all of which combine to make this region an ideal location for vacation or retirement.

Cost of Living
A fraction of that of UK / Ireland or any other European city, you will not have to worry about the cost of having a good time and an open currency market allowing easy transfer of funds both into and out of the country.

Capital Appreciation
Property values are increasing by an average of 30% year on year and are expected to keep doing so well into the future at least until they reach the levels of the rest of Europe.

A series of fundamental fiscal and political changes in Turkey is set to boost international confidence and direct investment in Turkey’s property market in 2007, according to Amberlamb.

The Organisation for Economic Cooperation and Development recently issued their latest report on the state of the economy in Turkey. The report strongly praised the nation for its economic recovery in recent years, for the continued policies of reform in a bid to maintain exceptional GDP growth and for the country’s commitment to the implementation of further fiscal, political and judicial reforms aimed at making Turkey one of the most competitive nations in which to invest, work, do business and live.

The report highlighted the work that still needs to be done in Turkey to boost the nation’s attractiveness for foreign direct investment but it indicated that Turkey was on track for making the necessary changes, lowering excessive taxation burdens and minimum wage costs to attract more international businesses to Turkey.

On course to be in Top 5 in 2007

Furthermore, as Turkey proved earlier this year with fundamental improvements to the rights of foreign buyers of property in Turkey, the nation is working to improve the rights of foreign citizens wishing to invest in land and real estate in Turkey and it is working to improve transparency in law and bureaucratic processes to this end.

The positive legal changes to the rights of foreign buyers of property in Turkey that were exacted in January 2006 have so far resulted in excellent levels of buyer confidence in the Turkish property market and over 6,000 sales of property to overseas buyers were finalised between the law change in January and July 2006 alone.

While the appetite for foreign second homes, holiday properties and investment assets remains strong and European economic and interest rate environments continue to be kind to investors, the Turkish property sector will continue to expand, says Amberlamb. The property investment experts point out that Turkey is currently on target to return in excess of 12% capital growth in 2007 putting it well within the top 5 European nations in terms of real estate appreciation potential.EU membership on the horizon?

Meanwhile positive developments are continuing across Turkish economic and political life as the nation continues with its bid to become a member of the European Union. While everyone is aware that Turkey must overcome many obstacles and exact far reaching changes if it is to achieve accession, no one can doubt the nation’s commitment nor the positive economic effects that potential entry has already reaped.

Turkey has become one of the strongest recipients of foreign direct investment into its construction and property industries from GCC nations with the largest GCC FDI commitments having been made following a decision earlier this year to allow Turkey to begin talks aimed at structuring the nation ready for EU entry.

In raising Turkey’s profile during the beneficial talks with the European Union, the Turkish government not only won strong financial support from the GCC group of countries it also succeeded in promoting Turkey as an interesting, diverse, approachable and welcoming nation among the international travel and tourism community. As a result the World Travel and Tourism Council recently responded to dramatic developments in the tourism market in Turkey and released exciting predictions for the country suggesting that in the next decade an already healthy tourism market will double in terms of economic activity. This would in turn result in strong GDP growth, the creation of jobs in Turkey and the attraction of exceptional levels of foreign direct investment, Amberlamb predicts.

All indicators are that Turkey is on the right path to enjoy a journey of positive economic expansion and international acceptance and as a result it is one of the most exciting emerging nations in the world for property investors right now. Turkish property offers investors a low entry price, long-term capital appreciation potential and immediate and strengthening rental appeal therefore it has made it into the top five on Amberlamb’s 2007 property investment watch list.

(Source:Amberlamb)