Investing in Property in Turkey? What’s Best, a City or Resort Property?
Property portal House Sales Turkey (http://www.housesalesturkey.com/) has previously reported on the current investment appeal of property in Turkey, with one respected investment firm Colordarcy recently stating that it “continues to offer ever-greater opportunities for investors”. If you have set your sights on investing in Turkish property, which type of property should you choose, city or resort, and why?
An international property investor will first consider the country where they want to purchase, then the region, and finally the type of property. All investors will have an approximate budget for their investment purchase and they will want to make the best return on that investment possible. When faced with a country such as Turkey, which is enjoying an ever-strengthening tourism market and a booming economy, the first choice is clear. Investing in real estate in Turkey makes sound financial sense right now.
As to areas, Turkey’s seven regions have hugely different things to offer, as you would imagine from a country which spans two continents! The Black Sea region has traditional villages; the Aegean region boasts beautiful coastline and impressive cultural history; the Mediterranean region has some of the country’s most well known resorts; the Marmara region includes the stunning city of Istanbul; the Central Anatolia region has both the wilds of Konya and the capital city Ankara; while the Eastern and South East regions are more rugged and mountainous.
With all that variety, how is the potential investor in property in Turkey to choose? Well among these regions there are coastal properties, village properties, resort properties and city properties. However, for the investor looking to make a profit, the former coastal and village properties can arguably be discounted as they don’t offer enough all-round appeal. Appealing to the most number of potential buyers and renters is essential in maximising capital appreciation and/or rental yield.
Choosing between resort or city property in Turkey is not so straightforward, however. There is an excellent standard and choice of both villas in Turkey and city apartments, so the potential investor should consider their objectives. If ongoing rental yield is the goal, then perhaps a city apartment in Istanbul may be preferable, as not only can the apartment be rented out in peak season to holiday-makers, but also year-round to domestic city dwellers. However, if capital appreciation or even just ‘saleability’ is the objective, then properties in well established resorts may be a better choice. With resort property it is easier to check on historical data on tourism for that region and even on the recent popularity of a particular resort to ensure your chosen property has ongoing potential value.
To get your search started, check out the latest property listings of both resort and city property in Turkey at http://www.housesalesturkey.com/ – the right investment property could well be waiting for you there.
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