Turkey’s position as a growing world tourism destination appears to be going from strength to strength, which is helping to boost the country’s buy to let property market.
An increasing number of budget airlines will be operating routes from the UK into Turkey in 2008. Thompsonfly currently offer a number of flights, while easyJet will be introducing a route into Istanbul later this year, which could lead to the low-cost airline setting flight routes to other parts of the country in the not too distant future.
Holidaylettings.co.uk informs Homes Overseas on-line that the majority of Turkish holiday home purchases are being made along the Turquoise Coast (79% of properties), mainly in Bodrum, Fethiye and Hisaronu and Kalkan. Along the Aegean Coast it is property in Altinkum that is proving particularly popular with investors. Despite the fact that the Mediterranean Coast has traditionally proved far less appealing to investors, there has been growing investor interest for property in Alanya and Side. However, the main locations to note are Marmaris and Istanbul , where property demand is robust.
Speaking to Homes Overseas on-line, Kate Stinchcombe of Holidaylettings.co.uk said: “Marmaris and Istanbul are currently attracting higher than average holidaymaker enquiries, but have relatively low numbers of properties. It will be interesting to monitor whether there is an ‘easyJet effect’ in Istanbul over the coming year, which could be reflected in higher house prices or investor interest as well as holidaymaker demand.
“The explosion of interest in Turkey should be monitored however, so as to avoid over-saturation, particularly along the Turquoise Coast. Holiday homes there are currently attracting around 25 enquiries each per year. This is about 30% below our site average, but more than sufficient to fill the peak holiday weeks and some of the shoulder season periods too.”
