Overseas Property: Where Would I Invest Part 2 - Turkey

Turkey property is currently attracting a lot of media attention, and rightly so. Sales in the country haven't dropped nearly as much as most countries because of the credit crunch, prices are generally holding firm -- according to some agents rising in places and on luxury properties -- and tourism is expected to hit over 30million this year. That mind sound unbelievable but Turkey received 23million visitors last year.

Tourists are of course attracted by the low cost of living in the country, which translates to cheap holidays with more fun for less spending money. But it also translates to property in Turkey being priced lower than in most developed countries in Europe. You can currently get a 1 bedroom off-plan apartment in Altinkum for £48,400, and a resale 1 bedroom apartment in Altinkum for £44,000 if you know where to look.

The massive amount of tourists Turkey receives is generating millions of Euros in revenue, which is then redirected back into developing the tourism sector, and the tourist infrastructure, and even spending on marketing to increase the number of tourists yet further.

The rising tourism levels also lead to increased employment and internal wealth within the country. This translates to more Turkish people buying their own homes thus giving today's investors an exit strategy for tomorrow.

That is of course before we even mention Turkey's EU accession which is on the distant horizon having been hindered by opposition from France, Germany and Austria. Turkey's eventual EU accession will further boost the economy and internal wealth from things like worker remittances, and the returning workers will provide another exit strategy.

All in all I would certainly make a long-term investment in Turkey, for holiday home investors it is even better.

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