Turkey Property Hot for Overseas Investors

Turkey property is expected to grow in popularity because of the global slowdown pushing prices down and making property in Turkey a more affordable reality.

I have recommended Turkey for investment before, especially as a buy-to-let destination with visitor numbers well into the 20's of millions in 2008, and closer to 30million predicted for 2009.

Its massive tourism market doesn't only make Turkey a place where you can get impressive rental yields, if tourism keeps rising investments today can be sold at a massive profit to the holiday home buyers of tomorrow -- with tourism rising that rapidly Turkey could easily be the next Spain in terms of property investment profitability and Brits buying holiday homes, retiring and emigrating to the country.

Tourism like that means demand for rental properties will continue to outstrip supply by a long-way, and that is why we see an abundance of off-plan developments coming onto the market in Turkey with massive guaranteed rental yields.

Even now as development slows throughout Europe, still new off-plan developments spring up in Turkey.

One such development is Phase 3 of the Apollon Holiday Village in Altinkum, offering 1 bedroom apartments from £19,000. You can also buy a 1 bedroom apartment on a resort style development in Istanbul for a little over £32k.

Immediate gains when those developments are complete will be upwards of 20% and rental yields will be in the 8-12% bracket