Turkey, the country famously known as the bridge between Europe and Asia, is proving to be a popular place for British property buyers to invest. The country has one of the largest economies in the world with a growing population that currently numbers over 70 million, 66% of whom are under thirty. There is also around 20 million foreign tourists visiting the country each year, and the number is steadily rising. The popularity of Turkey as a holiday destination has created strong buy-to-let opportunities for property investors, and the Turkish government, keen to see this trend continue has pledged approximately £73 million to be invested in tourism in 2008, with the goal of increasing tourist numbers to 25 million visitors by the end of the year. British tourists are amongst the biggest groups of foreign visitors to Turkey, lured by thousands of miles of turquoise coastline, water sports such as sailing, water skiing and scuba diving, and of course the vibrant nightlife that is on offer in many of Turkey's coastal towns.
Turkey property development is currently booming, with one of the most popular areas being Bodrum in the Bay of Gulluk. This is one of the most upmarket areas, which has earned it the nickname "The St Tropez of Turkey". It's these miles of beautiful beaches and warm seas, where Turkey's rich, famous and affluent members of society come to relax.
Bodrum is attracting more and more foreign investors who are keen to get in on the emerging destination, while the prices are still very reasonable. Several new developments are appearing in Bodrum, for example Horizon Sky, which offers waterfront property with its own private beach club and luxury facilities such as swimming pools, hot tubs, steam rooms and saunas. If this alone isn't enough to attract investors, perhaps the predicted capital appreciation of 45% by the completion of the development in June 2009 might temp them? Many people who visit Turkey are so taken by the pleasant climate, warm hospitality and great value of the country that they turn from tourists to property investors. But it's not just individuals who see the potential in Turkey; Hilton is planning to expand its global empire with 15 new hotels to be built over the next five years, in various locations across Turkey. It is bold moves such as these which signify to property buyers that Turkey is a safe place to invest, and that the country has every intention of turning itself into a major force on the world's property market.
For investors, the focus is on the predicted rise in tourism and a booming economy, making Turkey an exciting emerging destination for property buyers.
Elisha Burberry is an online, freelance journalist and keen traveller and watersports enthusiast. Originally from Scotland, she now resides in London.