Author: Steven Magill Added: July 30, 2008
The Turkish property market is booming. More and more people from Britain and elsewhere are discovering a country they may have not considered before. The Turkish economy, once in a slump, has recovered to an amazing degree. Now, as the country stands poised to enter the European Union, it may be a good time to look at Turkish property, the pros and cons of investing there. For British people considering investing in Turkish property, one of the biggest plus points is the fact that the country will almost certainly become a part of Europe in the near future. The EU is a strong alliance of countries that commands a lot of respect in the world. The euro, the currency adopted in most of the EU countries, is very strong. Whether or not Turkey will adopt the euro remains to be seen, however. What can be said is that Turkey in the EU will make the country even more stable and reliable, and accountable too, meaning that your investment, while never really at risk, will become a much better and safer one overall. One of the most obvious minus points to consider is that you will be dealing with people in a country where you most likely will not understand a word of the language. This can be a daunting prospect to consider, but there are many English-speaking Turkish people in the property market today, as well as people from Britain who are now working in the market. Another plus point is that there are an ever increasing number of British people living in Turkey. They are buying property similar to the property you may be considering, and because of this there are a number of vibrant and lively expat British communities in all the popular resorts. Of course, it's always best to learn something of the language where you live, but this kind if situation does cushion the need a bit. Possibly a plus point for some, though maybe not for others, and indeed of limited consequence to the property market, is the fact that there is no restriction on the use and on the sale of alcohol in Turkey. This means that you can open a bottle of champagne to celebrate your purchase of Turkish property when the time is right. Turkey is a Muslim country, but not in the fundamental sense. They keep their religion and their politics reasonably well separated in much the same way that Spain, for example, is a Catholic country, but Catholicism does not determine how the country is ruled. Religion is important in the country, but very much a way of life for the people in a way that has become lost in Britain. One other plus and minus point to consider, and one that may help you make up your mind faster, is the fact that Turkish property is increasing in value at the rate of between 12.5% and 25%. This means on the one hand that your initial purchasing costs are rising, but also that once you have made your investment its value will continue to increase at this rate. Turkish property is hot right now. This is certainly the time to get a foot in the door!
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Property in Turkey, especially around Altinkum, is a buyer's dream.
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