Turkish property boom set to continue

At a recent press conference, held by the Turkish Real Estate Investing Partners Association (GYODER), it was revealed that property sales in Turkey to foreigners in 2010 were up 40% reaching sales of $2.5 billion compared to the previous year.

Not quite eclipsing the pinnacle of Turkey's property performance, between the economic peak in 2006 to 2008 sales to foreigners approached $3 billion, the recent figures disclosed in their "The Real Estate Sector of Turkey and The World, Fourth Quarter 2010" report, clearly show that Turkey's popularity as a holiday home and investment destination, unlike some countries, is far from waning.

GYODER President, Isık Gökkaya commented: "Real estate sales to foreigners rose again in 2010 as a result of increasing confidence in Turkey".

These are sentiments shared by established Turkish property agents Spot Blue, who have been selling property to Brits, the Irish and international community since 2003. Julian Walker, Managing Director of Spot Blue further comments, "Turkey on the whole, has learned from other Mediterranean markets and has steadily increased its real estate offering to foreigners without over stretching resources or demand. Yes, there are pockets of high supply, however with 8300 kilometers of stunning Aegean and Mediterranean coastline buyers are spoiled for choice in terms of location, property type and homes to suit all budgets."

Source: Spot Blue