A call for Britons to invest on far distant lands maybe unimaginable in past, but today with the British Real Estate industry in a deep hole, the British are looking to invest their money in more profitable ventures in Turkey. Wanting to reap the profits, more and more buyers from the UK are venturing into the Turkish property market. The low cost of living, affordable real estate, affordable construction, and lower interest rates are all enticing investors to bring their money into Turkey.

The British Are Coming!

According to John Walker, of Spot Blue (a Turkey Real estate company) “There are 2.06 million people in the UK and Ireland who own properties overseas – that’s one in 30 people – and recent figures suggest many of those are looking to relocate permanently,”  and Turkey is way up high on the list of possible places to move in to.

That is why Turkey is revamping its tourism industry to focus on attracting more visitors, with the potential of investing and moving into the country. In 2007 alone property prices in turkey churned up a growth of 15 to 20%. Despite this rise, Turkish real estate are still by far cheaper that those in the UK. 

Although no building society or bank will grant a loan against any property abroad, Specialist brokers similar to the company Conti, will finance the acquisition or building of Turkish homes. Unfortunately large advances are confined to select parts of Turkey like the Turkish Riviera, Alanya or Istanbul.

Ahmet Rauf Saatçi, who is the regional director of Turkey’s leading real estate agency, says that "There has been aggravating mortgage turmoil in the United States and European countries along with attempts to lower bank interest rates in order to diminish the effects of this crisis. However, Turkey has not been affected by these events. We have not formed the system yet. I expect more from this year than 2007."

This clearly shows that Turkey’s property market is ripe for the picking, especially for British pensioners looking to build there own villas in Turkey. This is in hopes of gaining profit or retiring in the country. In fact ex- BBC engineer David Nigbur together with his wife Rosemary moved to Turkey and watched their living expenses drastically drop. Nigbur’s wife who was previously dubious about moving to another country has come to adore living in Turkey. She says that there are many reasons but the most compelling is that right now she’s sitting by the pool, basking in the sun and its still winter.

The New Spain

“Analysts say that as much as 85 per cent of overseas property buyers are happy with their investment, compared to a mere 50 percent who own UK pensions. So it’s not hard to see why buyers are choosing Turkey – it gives investors great value property, a lower cost of living, a warm climate and really friendly people.”

Turkey is fast overcoming Spain on the prospect of real estate property viability. What’s more Turkey is fast learning the mistake of Spain and they are keeping there beaches and shorelines free from construction or development of any kind. Building on their magnificent shorelines is not the Turkish Government’s strategy for attracting investors into their country.

Turkey is being hailed as the “New Spain” but the similarities do not stop there. Turkey also suffers from the same corruption and red tape problems. Expect a lot more bureaucracy than you’re used to back in the UK.  Despite all this, Turkey is a lot better than Spain for a host of reasons. One being that Turkey is unspoilt, the waters are clean and clear and the beaches are positively adorable. Tourism and urbanization maybe on the rise, but the government has effectively implemented rules to restrict building and construction.

Why Britons Prefer Turkey

Turkey is also convenient for Britons because it’s not as far as Thailand or other tropical countries that are a little to far from Britain. If you are looking to buy into the property market of Turkey, finding the right real estate broker is important to circumvent being cockled. A trustworthy real estate agent will provide prospective buyer’s insight on a certain property’s potential. A good lawyer who knows the Turkish law will also assist you on any decisions you may wish to make.