10th April 2007 08:59
As one of Europe's most buoyant emerging property markets, Turkey is experiencing an influx of foreign property investment. Not only is the economy growing by 7% annually, the population and tourism industry are also growing. Turkey now receives more than 20 million tourists each year.

Tourism is vital to turkey, accounting for 10% of employment and a vast proportion of revenue. Turkey’s Ministry for Culture and Tourism has devoted much of the budget to improving the amenities and attractions of tourist hotspots, and raising Turkey’s profile through advertising campaigns. As a result, Turkey welcomed a near record number of tourists in 2006, including 500,000 American tourists in spite of an unfavourable exchange rate for the dollar, bringing numbers up to pre 9/11 figures.

The powerful correlation between tourism and property investment is exemplified by recent activity in Izmir. This area, which received just under 10% of Turkey’s tourists in the 1990s is now attracting just under 4%, with 777,000 tourists visiting Izmir last year. Consequently property investment has suffered. The government is now working to establish Izmir with a tourist identity, investing heavily in the area. As tourists rediscover Izmir, property values will shoot up, rendering Izmir a favourable prospect for property investors.

Some of Turkey’s most popular property investment areas include the Bodrum peninsula, Istanbul, and the Mediterranean and Aegean coasts.

Turkey named 4th fastest developing property market - Recent research places Turkey fourth in the list of most rapidly developing property markets. - 24th April 2007 09:28
British company invests $200mn in Turkish developments - Leading London based firm Financial Dimensions, experts in real estate and project development, have committed to invest 200 million dollars in property developments in Turkey over the next years. - 18th April 2007 10:23
Research shows Bodrum is investor's best bet - Recent research carried out by Obelisk International, a major real estate company, has identified the Bodrum peninsula in Turkey as the top investment location for 2007. - 3rd April 2007 09:40
Luxury housing projects take off in Turkey - Turkish press and real estate institutions alike are full of the buzz of Turkey’s exclusive multimillion-dollar property projects, which have revamped properties in a number of areas for the rich and famous. - 26th March 2007 09:15
Istanbul tipped to win European city of the year award - Although Turkey has yet to join the European Union, Istanbul is considered as one of the favorites for the European City of the Year 2007 award. - 23rd March 2007 17:33
Turkey's new mortgage market - February saw Turkey’s first ever mortgage law approved in Turkish courts. - 22nd March 2007 09:58
Bodrum benefits from Turkey's tourism master plan - The popular Aegean town of Bodrum and the Mediterranean holiday resort Alanya will be the beneficiaries of Turkey’s tourism budget for 2007. - 13th March 2007 10:12
Property: Turkey's primary revenue? - The anticipated property boom in Turkey is happening even faster than experts predicted, outstripping other sectors on economic growth. - 7th March 2007 09:21
Turkey's property market receives injection of corporate investment - According to Turkish Daily News, global corporations such as Morgan Stanley, UBS, Deutsche Bank, Alliance and Leicester, Credit Lyonnais, Scottish Widows, and Credit Suisse are looking to invest in Turkish property as a means of diversifying their investment portfolio in a market with long term growth forecast. - 28th February 2007 11:10