Why Invest in Property in Turkey?
Turkey, ancient land of historic significance where East meets West and the only country where a city lies on two continents, divided by the Bosphorus Strait, yet connecting Europe and Asia. The city of Istanbul is a bridge between two continents – literally – by way of three suspension bridges over the Bosphorus that connects Europe to Asia.
Strategic Location – Connects to the World
Turkey’s strategic location between Europe and Asia has paved the way for the world’s largest airport, the new Istanbul International Airport (IST). Built on the European side of Istanbul, phase one is now open and operating flights. The new Istanbul International Airport will have the capacity to welcome two hundred million passengers and hold the title to the world’s largest airport upon completion of the final phase of construction.
Turkey’s strategic location provides the convenience of Europe within a few hours flight time, with the UK and most of the Middle East a mere four hours away. With the completion of the world’s largest airport, travelers will be able to fly to more destinations than ever before. The airport expansion is forecast to increase tourism in Turkey by fifty million tourists and create tourism revenue of fifty billion dollars by 2023.
4 Seasons of Outdoor Enjoyment
Property ownership is made for living, but it’s the great outdoors that create the opportunity for lifestyle. Many visitors come to Turkey to enjoy the diversity of the four seasons of weather. And while many tourists technically have four seasons in their home countries, the ability to enjoy a white winter in the snow and a sun-soaked summer swimming in the warm Mediterranean waters are not always possible to back home. It’s one of the compelling reasons Turkey attracts many tourists from all over the world as it’s one of the few places you can enjoy skiing in the snow and swimming in the sea within the same day!
Turkey's Natural Beauty Has Everything
There are very few countries that possess such a diverse landscape and where you can find amazing Instagram-inspired backdrops without the need for filters or Photoshop. What looks like a postcard picture, is actually real, and has to be experienced to be believed. Turkey offers breathtaking scenes and offers so many landscapes in one country. From vast, dry deserts, to snow-capped mountaintops, turquoise seascapes, and powder-sand beaches, indescribable brilliant white terraced pools with natural hot springs, pine forests, rolling green hills, and expansive lakes that divide green mountain gorges.
Here are just a few examples of what attracts investors to buy property in Turkey:
- Turkish Riviera: Turkey’s "Turquoise Coast" (also known as the "Turkish Riviera") with clean, crystal clear turquoise waters where you can see your shadow on the ocean seabed as you swim. Surrounded by sea life, it’s an immersive aquarium of diverse marine life and a snorkeler’s dream aquatic playground. Words or photos can’t explain the feeling of excitement immersing into the crystal clear waters of the warm Mediterranean turquoise coast.
- Cappadocia: Vast desert landscapes with scattered homes from thousands of years ago populate what could be mistaken for a movie set on a planet from Star Wars. Watch, or better yet, partake in a formation of hundreds of hot air balloons that decorate the skies at dawn and dusk.
- Van Lake: Van Lake is the largest lake in Anatolia and the largest sodium water lake in the world. Located in the far east of Turkey in the provinces of Van and Bitlis. Van Lake is a saline soda lake, receiving water from numerous small streams that descend from the surrounding mountains. Because it’s so salty due to the high sodium content, the water is not suitable for drinking and has very limited species of fish. Within Van Lake are four islands, all declared archaeological sites, with Akdamar Island host to a tenth-century church and popular site for tourists.
- Pamukkale: Pamukkale is a UNESCO World Heritage Site and a must-see-to-believe experience. Pamukkale is a two-thousand-year-old body of mineral-rich thermal waters flowing down white travertine terraces on a nearby hillside. It neighbors Hierapolis, an ancient Roman spa city founded around 190 BC. Ruins at Pamukkale include a well-preserved theatre and a necropolis with sarcophagi that stretches for two kilometers. The Antique Pool is famous for its submerged Roman columns that occurred as a result of an earthquake.
Ancient History and Heritage
Turkey is home to seventeen UNESCO World Heritage Sites, but not just any sites. We’re talking ancient grandeur cities built by empires and civilizations from thousands of years ago. And forget about browsing artifacts from behind glass displays, many of these ancient ruins offer immersive experiences. Sprawling ancient cities act as walk-through archaeological sites for you to enjoy a leisurely meander throughout the same city streets as the inhabitants did thousands of years ago. Sit in the seats of the ancient theatres and experience the same view audiences enjoyed from times gone by. This is ancient history right up close and personal and just one of the many reasons attracting tourists and why investors are buying property in Turkey.
Tourist-Friendly and English Spoken
Turkey is tourist-friendly. It’s ingrained in the DNA of Turks. Warm and welcoming, Turkey welcomes tourists and you’ll find English spoken in all the popular tourist hotspots. You’ll also find English language options on many Government websites and shopping malls. Venture outside the tourist areas and you’ll need some Turkish language skills.
Turkey Offers Value for Money
In recent years the Turkish Lira has depreciated to levels that offer phenomenal value to holders of foreign currency. So much so, Deutsche Bank named the Turkish Lira “The World’s Cheapest Currency”. This means great value for money and stronger purchasing power for foreign travelers and investors. When looking at the purchasing power parity (PPP) – a theoretical exchange rate that allows you to buy the same amount of goods and services in every country – Turkey offers so much more value for less.
The Economist magazine created the Big Mac Index in 1986 in order to illustrate consumer purchasing power and to provide a better understanding of the currency value in any given country. By comparing the price of the Big Mac burger between countries, you reach a better understanding of what people are paying for the same item across the globe.
In Turkey, you can eat twice the amount of food for the same price you pay in Europe, Switzerland, Britain, America, Canada, Australia, Singapore. The list goes on. It buys one get one free every day in Turkey! This not only holds true for food but is also valid for many everyday costs of living, where you save so much more in Turkey compared to what it normally costs back home.
Turkish Lira Driving Record Property Sales
The purchasing power value offered by the exchange rate of the Turkish Lira is one of the driving engines fuelling record tourism numbers and property sales to foreign buyers. Of course, it certainly helps property sales that Turkey has postcard-perfect scenery and thousands of hours of sunshine to enjoy the spectacular outdoors.