The Turkish Property Market

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Turkey is a beautiful, divine, exciting country full of opportunities. This has gradually been discovered by the many visiting tourists whose numbers have been increasing by 10-15 percent each year. In the last few years more and more northern Europeans have also chosen to invest in real estate in Turkey.

A few years ago the rules governing foreigners buying property in Turkey were relaxed and since then interest has increased dramatically. The reason for this is simple: the prices are very attractive especially when compared to similar properties in France, Italy or Spain.

Price increase
In conjunction with the increasing interest for properties, the prices have also increased and for most properties this has been by 20-40 percent per year. This may sound unbelievable but it is nonetheless true and all the signs are that it will not stop there. The interest of foreign media in Turkey has never been greater. The papers write almost daily about the Turkish property market and several larger nationwide TV-stations have programmes about buying property in Turkey.
The fact that Turkey has received a date for starting negotiations for membership of the European Union also affects the ever increasing interest in property investment in the country.

Quality and construction requirements
In 2001 Turkey introduced strict legislation for new constructions. The requirements are fully comparable with European standards and ensure that both materials and building methods are improved. Constructions are built earthquake safe . The builders not only build and design to European standards now but also take into consideration the requests of many European buyers especially with regard to large balconies and sea views.