Istanbul was able to hold number one spot due to its high amount of youthful population and its booming economy according to the survey of over 600 real estate professionals.

Istanbul’s property market is thriving as they are getting demands of around 70,000 units each year.. Figures indicate that sales of investment property in Istanbul are actually outselling previous best-performing market places like Brazil and Florida.

Property prices in Turkey are steadily moving upwards with the latest Residential Properties Sales Price Trends Index from REIDIN showing constant monthly increases in values with Istanbul leading the growth.

Other cities indentified in the survey included Munich, which came second due to some of the lowest unemployment rates in Germany and high levels of stability. Warsaw which is rapidly becoming Eastern Europe’s financial hub followed.

Even though the London is being affected by the current economic climate, the UK still attracts a lot of attention from oversees. The Guardian’s report includes a study which found that more than half of the buildings in the city are foreign owned. Industry experts think the UK offers potential for high yielding properties where excellent income can be generated in areas such as student accommodation, care homes and hotel room investments and as always, the UK will remain a big player with overseas investors viewing it as a safe haven for their capital.

Source: The Guardian

Istanbul tops property investor list Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

There is further good news for those who have invested in Turkish property as average rental rates have also increased. Average rental values jumped by a staggering 1.07% in just one month according to REIDIN’s findings, which is all the more impressive given the time of year.

While average prices and rental rates have increased significantly across the board, some regions have excelled. Istanbul for instance boasts one of the fastest growing real-estate markets in the world. From September to October, Istanbul property prices increased by 0.88%, while rental rates increased 1.26%.

Turkish property prices continue to rise Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey’s economic growth of 11% in Q1 exceeded every other country in the world by over 2%, the only nation to achieve double digit growth and outpacing China, the second fastest growing economy. Q2 was equally impressive as Turkey developed faster than even India and bettered European growth by over 4 times!

The country’s tourism levels have witnessed similar leaps and bounds over the last few years and now Turkey is the seventh most visited country in the world according to the World Tourism Organisation. Since 2000, Turkey’s year on year tourism growth has been consistently rapid; however 2011 has been extremely impressive. Istanbul recorded a 30.1% increase in tourism revenues in Q1 alone making it the 34th richest city in the world measured by GDP.

Turkey’s dynamic expansion as created a severe shortage of real estate. Supply is not forecast to catch up until at least 2015, which in turn has placed increased upward pressure on prices and rental rates. Istanbul is particular stands out as one of the most in-demand property locations in the world.

As one of the fastest growing cities in the world Istanbul is currently out-pacing every other European metropolis with exponential growth of late. The annual supply of just 180,000 residential units in Istanbul is being completely out-stripped by the yearly demand for over 250,000 homes a year. As result owners are enjoying rental returns of anything between 7- 12% per annum with expected capital gains of over 30% over the next 3-4 years.

Turkey – the world’s leading property hot-spot 2011 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Property in Turkey is incredibly popular at the moment due to the country’s thriving economy, flourishing tourism sector and comparatively low real-estate prices. British buyers are the most prominent of overseas property purchasers; however large amounts of property in Turkey are bought by mainland Europeans and Americans as well.

The new rules will open the Turkish property market to traditionally heavy hitting Russian and Arab investors who are expected to quickly take advantage of the law change. As a result, the already booming Turkish property market is expected to receive a considerable lift, directly effecting property prices.
Source: Today’s Zaman

Turkey considering unrestricted property sales Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

While prices recorded growth across the majority of Turkey, Istanbul property recorded the strongest year on year growth with values up by 7.42% compared with August of last year.

This impressive growth in real estate values has been driven by an extremely high demand coupled with a very limited supply. The yearly demand for residential real-estate in Istanbul is reportedly over 250,000 homes while the actual supply will do well to reach 180,000 units this year. This substantial gap between demand and supply is predicted to continue for a number of years, significantly increasing property prices.

Istanbul property prices increase by 7.42% Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The performance of the CIVETS is already exceeding the BRIC nations as represented on the stock market. Standard and Poor’s CIVETS 60 index established in 2007 is ahead of two other funds, the Standard and Poor’s BRIC 40 and the Standard and Poor’s Emerging BMI over one and three years.

Two major players in the CIVETS grouping are Egypt and Turkey, who have both received considerable attention this year.

Firstly there is Egypt. A country that recently underwent a popular revolution, Egypt’s initial growth prospects have slowed for obvious reasons. However the effects of the regime change have already put the nation in a stronger position than before. While growth has been revised down to just 1% analysts have highlighted Egypt’s now stronger economic footing and expect the country to continue with its previous growth trajectory as early as next year.

Egypt possesses a large, young population as do all the CIVETS, and therefore is expected to benefit from a quickly rising domestic consumption over the next few years. Uniquely, however, Egypt does also occupy key ports with access to the Suez Cannal and possesses a vast, untapped natural gas resource further boosting its credentials.

Turkey on the other hand exhibits more obvious growth indicators such as its geographically central location between Europe, the Middle East and Russia to the North. As a result, Turkey plays host to a major natural gas pipeline network that make it an important energy corridor between Europe and Asia.

That aside, Turkey’s thriving tourism industry is set to see it become one of the world’s most visited countries within the decade while its economy was the fastest growing in the world during the first part of the year; the only country in the world to gain double digit growth outpacing China by over 2%!

Phil Poole of HSBC Global Asset Management explained the growth is because “Turkey is a dynamic economy that has trading links with the European Union but without the constraints of the euro-zone or EU membership,”

Both Egypt and Turkey have experienced significant property investment this year and prices have increased as a result. Domestic demand has naturally pushed up prices as the populations of both countries have become more affluent, however international investors have been quick to indentify opportunity and both nations have also witnessed high levels of foreign investment.

Source: The Wall Street Journal

Turkey and Egypt lead the CIVETS pack Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey’s thriving economy which outpaced China to become the world’s fastest growing economy earlier in the year has been focused around the countries successful banking and financial sectors as well as flourishing tourism industry. While the tourism boom has directly affected property prices in coastal regions, Istanbul’s property market is benefiting from Turkey’s rapidly expanding economy.

With a growing number of businesses moving to the city there is significant job creation taking place and a huge demand for commercial real estate. However it’s the residential sector which is seeing demand completely out-strip supply. The annual requirement for residential property in Istanbul is reportedly over 250,000 units per annum while the actual supply will struggle to meet 180,000 units this year. This considerable gap between supply and demand is expected to continue for several years, significantly pushing up real-estate prices.

Istanbul real-estate market continues to boom Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey continues to cultivate and grow its tourism industry in accordance with its ‘Tourism 2020 Vision’. This strategy will see it become one of the world’s most visited countries by the year 2020. The Ministry also released its forecast for 2011 which expects the country to receive over 30 million visitors by the year’s end.

Turkey’s considerable year-on-year tourism growth would appear to be significantly boosting both the country’s property market and economy. Recent data has revealed that property rental rates, prices and actual sales are all increasing. This makes Turkey one of the world’s only nations to witness genuine capital appreciation in real-estate at present. Even more impressively data recorded in the first half of the year identified Turkey as currently being the world’s fastest growing economy; the only country in the world to gain double digit growth, outpacing China by over 2%!

As Turkey continues to accelerate ahead of the rest of the world in terms of its economy, tourism growth and property price increases, the international investor community watches with keen anticipation.

Source: A Place in the Sun

Turkey property market boosted by 11% tourism growth Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

This data supports recent reports about property price growth in Turkey. Turkey’s Residential Property Price Index was released last month showing price growth of 5.38% over the last year – one of the only countries in the world to witness genuine growth in real estate values between 2010 and 2011.

Turkey’s property market is moving from strength to strength and investors as well as prospective Turkey property owners have been quick to get into the market before they miss the boat.

British buyers are the most significant foreign contributors to Turkey’s property market, responsible for 22% of all property purchases by foreign nationals. Other big spenders when it comes to property in Turkey are Germany and Greece coming in 2nd and 3rd place respectively.

With such impressive growth in the face of difficult economic conditions, many are suggesting this is the start of something big for Turkey. Many industry commentators and property experts have suggested Turkey’s property market growth will be even outpace Spain’s property boom of the 80’s and early 90’s due to stricter planning laws preventing overdevelopment and Turkey’s already thriving economy which is currently the fastest growing in the world!

Beginning of a boom? Turkey property sales & prices increase Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The popularity for this region stems from its rapidly growing tourism industry which mainly revolves around Bodrum. Located on what is known as the ‘Turkish Riviera’ and affectionately named the ‘St Tropez’ of Turkey, Bodrum is one of Turkey’s fastest growing tourism hotspots, gaining significant demand from prospective holiday home owners and investors alike. As a result searches for property in Turkey have centred on Bodrum and the wider Mugla area.

A useful yard stick when measuring the growth of tourism in a particular area is to look at the number of new hotels opening there. The luxury Viceroy Hotel Group has announced the Viceroy Bodrum will open in 2014.

Senior Vice President of the Viceroy Hotel Group, Anton Bawab said: “The Turkish Riviera is the quintessential location for a luxury Viceroy seaside resort. The Viceroy Bodrum will feature the hallmarks of our properties – chic design, luxurious amenities and impeccable service – to inspire visitors and offer a unique experience in this market.”

With Turkey’s Residential Price Index witnessing over 5% growth from July of 2010 to July 2011 and coastal property contributing significantly, the Bodrum peninsula seems to be a major property hot-spot set for significant growth over the next few years.

Bodrum leads the way for overseas property Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey is rapidly emerging as one of the world’s leading property investment hotspots. Managing Director of A Place in the Sun, Andy Bridge explained this was due to unbeatable value for money, a thriving economy and a currency independent to the rest of the Euro zone.

Rental prices are also on the rise which has added to the upward pressure on property values. Rentals across the country are reported to have increased 0.36% last month highlighting how the staggering increases in tourism Turkey has experienced over the last few years is directly effecting Turkey’s real estate market.

While Istanbul leads the way for commercial property, coastal property along the Mediterranean and Aegean coastlines. The biggest increase in demand has been reportedly in new builds which have been especially popular amongst those buying second homes in the sun.

As Turkey continues its growth plans with no signs of slowing, investors have been quick to enter the market while prices are still very affordable.

Turkey property prices increase by 5.38% Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Andy Bridge, managing director of A Place in the Sun said,

“It’s outside the eurozone – so sterling goes further, property is relatively affordable and it’s a wonderful country for food, climate and culture,”

Many have suggested that Turkey’s investment potential has been significantly boosted by the failings in nearby Europe. The debt ridden economies of the Euro-zone have struggled while Turkey’s has excelled to become a world leader.

However one of the most important factors driving Turkey’s popularity in the eyes of prospective property buyers is its thriving tourism industry. Turkey is on course to be amongst the top 5 most visited countries in the world having developed a number of well known resorts.

The number one locations are along what’s known as the ‘Turkish Riviera’ where the Aegean Sea meets the Mediterranean and include the popular resorts of Bodrum, Marmaris, Antalya and Alanya. It’s in these resorts in particular where there has been a marked increase in the number of Russians buying property according to the latest reports from the country.

With Turkey’s outlook looking so positive it may now be better for the country to stay out of the EU. A journalist specialising in Turkey commented,

“EU accession could easily be argued as more of a hindrance than a help to countries like Turkey,” adding “there is no obstacle to stop Turkey from becoming one of the top property investment destinations in the world — and that is exactly what it is doing.”

Turkey continues to attract property investors Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Now the EU’s economy is caught in a deep sovereign debt crisis with two of its members, Greece and Ireland forced to accept huge bail-outs. Not only must both of these countries borrow more money to service their debts but they both face ongoing austerity measures. While the general appetite for property in Europe has reduced significantly, one such measure has directly affected Greece’s property market in particular. The country has placed new taxes on high-end property, causing owners to sell en-mass while new buyers remain few and far between. Portugal has been advised to implement similar taxes.

As a result, property investors have snubbed the debt ridden EU nations in search of better performing markets and greater value for money. While Turkey now stands in a position where it could gain membership much more easily, the tables seem to have turned as investors care less about EU membership and Turkey reaps the benefits of its exclusion.

While GDP growth improved in the EU during the first 6 months of 2011, it only reached 2.5% while Turkey impressively recorded 11% to become the fastest growing economy in the world. The Economist published that Turkey will soon surpass Germany as one of Europe’s top performing economies.

As well as a thriving economy, Turkey enjoys one of the world’s fastest growing tourism industries. Comparatively expensive EU nations have failed to retain cash strapped holiday makers and once again, Turkey’s separation from the single currency has played to its advantage. Rapidly emerging as hot-spot for tourists, holiday property has witnessed significant demand, creating property price growth and an increase in rental values.

Turkey’s rapidly expanding economy, rising popularity and separate currency have provided investors with greater capital appreciation, increased exit options and better value for money. The country now stands as the best short to medium term property investment destination in the entire Eurozone, and many have been quick to take advantage.

EU debt crisis encourages property investment in Turkey Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

These findings are even more significant when compared with the tourism revenues of other European markets. While the majority saw considerable increases, Turkey experienced the largest followed by Italy which increased by 17%, Portugal which gained a further 16% and Greece who saw an increase of 14%.

Britons remain the biggest spenders in Turkey, with expenditure of over €54 million. Tourists from the USA, France and Germany followed respectively.

Turkey is rapidly climbing the tourism ladder and is soon expected to be one of the most visited countries in the world. The swift growth of this industry has aided the country’s property market creating a thriving property market. Holiday homes have received wide appeal from holiday makers and also investors looking to rent them on the booming holiday let market.

Source: Hurriyet Daily News

Turkey’s tourism revenues spike due to booming holiday market Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Not many places can you expect to rub shoulders with celebrities such as Catherine Zeta Jones or Cristiano Ronaldo, yet dine for in style for ‘less than a tenner’. While other destinations have proved difficult to sell, it is no surprise that Bodrum has been one of no-frills airline easyJet’s most successful destinations this summer. With a mix of rich history and its excellent selection of great hotels and fine restaurants that rival the places you can find on the famously fashionable Greek island of Mykonos.

But while Bodrum attracts the ultra-wealthy, including Middle Eastern billionaires and Saudi royalty, the resort defiantly remains a place that can happily cater to the mass market. So while Bodrum is known as the St Tropez of the Aegean, this is merely to point up its chic, laidback style and its popularity with celebrities. A holiday in Bodrum, particularly at the moment, is available at a fraction of the cost of a break in St Tropez. As people kept telling me: Bodrum offers ‘cheap chic’.

The growing tourism is a great indicator to any investors looking at potential of property in the Bodrum region. Our range of Award winning Turkish properties are great very anyone looking for their own slice of “Bodrum Chic“.

Read more: Daily Mail

Bodrum, the Turkish St-Tropez everyone can afford Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The fastest growing sectors were wholesale trade, tourism, energy, transportation, communication and most notably, construction, which grew by over 14% to keep up with real-estate demand in the country.

Timothy Ash, the chief economist at the Royal Bank of Scotland commented on Turkey’s growth strong growth in 2010 leading up to these most recent figures.

“real GDP grew by 9.2 percent year on year in the fourth quarter, and by 8.9 percent for the full year in 2010,”

Turkey’s impressive progress following 2008 has been well documented. Its economy is widely described as one of the strongest in the Eurozone, however the newest figures suggest Turkey is quickly becoming one of the strongest economies in the world.

Source: Hurriyet Daily News

Turkey: The world’s fastest growing economy Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

With growing inward investment, a rapidly expanding tourism industry and the fastest growing economy in Europe, analysts are expecting big things of the country in coming years. Turkey has quickly secured a position as one of the most popular mainstream holiday destinations for Europeans and property is gaining considerable appeal has a result.

Interest for property in Turkey spikes by 21% Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The global strategy implemented from over 40 international promotion offices has seen Turkey’s pristine beaches, historic landmarks and beautiful scenery appearing on major TV channels, lining busy street billboards and on the side of buses.

Tayfun Şenerkul, head of the Asia Pacific and Middle East Department of Turkey’s General Directorate of Promotion said,

“Through various TV commercials, advertisements on billboards and Internet banners, we aim to gain a bigger share of the [world] tourist [market],”

Başaran Ulusoy, chairman of Turkish Association of Travel Agents added

“Turkey will be promoted in 153 different fairs in 61 countries in this year,”

2011’s campaign is costing Turkey $96.8 million with a staggering expected return of $25 billion, firmly placing the country amongst the world’s most visited nations.

Source: Hurriyet Daily News

Turkey invests $96.8 million to attract 31 million visitors in 2011 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Industry experts have said the majority of new investor interest has come from Europe and the UK in particular, although there has been a significant increase in the amount of American and Russian buyers.

One industry professional commented,

“I am finding interest is coming in from countries across Europe, particularly the UK, as well as countries much further afield as well. In simple terms, if investors see a flood of interest flowing towards one country, they will look to take advantage before demand outweighs supply.”

Historically, demand had been driven by tourism with consumers buying holiday homes; however it now seems that the strong price growth has attracted more conventional investors purely buying for strong financial returns.

Property transactions in Turkey increase Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Travelmatch.co.uk have announced that summer 2011 will be extremely busy for Turkey. The travel specialists have cited affordability, convenience and the opening up of several new air routes as the major reasons for the spike in holiday makers this year.

Alex Francis of Travelmatch said,

“Every year one country proves to be especially popular, and early figures indicate that the summer of 2011 will be all about Turkey. This in part owes to structural factors such as the greater availability of flights to resort areas, but there is no denying this country’s unique appeal.”

“Turkey is truly an incredible destination and it is certainly deserving of its popularity.” He concluded.

Marriot meanwhile think that this is only the beginning of Turkey’s dominance over major European destinations. The country’s year on year tourism growth has been incredibly impressive with consistent growth since 2007. Turkey welcomed 23.3 million visitors 4 years ago and last year it received 28.6 million holiday makers – a figure that is widely expected to be surpassed this year.

Amy McPherson, president and managing director of Marriott International in Europe summed up her view of Turkey, a sentiment that seems to be shared with the rest of the industry,

“Turkey is an important market for us in our overall development strategy as we move towards doubling our portfolio in Europe by 2015.”

Source: Travel News, Travel Daily

‘Summer of 2011 will be all about Turkey’ according to experts Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

GYODER’s most recent monthly index showed that prices have increased by 6.45% in the year ending April 2011. This data follows previous index’s that showed annual growth of 6.30% at the end of January, 6.18% in the year ending February and 6.17% in the 12 months leading up to the end of March.

It’s been widely reported that Turkey’s popularity has grown considerably in international markets; helping it ward off many of the economic problems faced by much of Europe. Holiday homes have seen the most dramatic price increases with a 40% surge in foreign ownership in 2010; a total $2.5 billion worth of real-estate sales in just one year!

The surge in holiday home ownership has tracked Turkey’s significant growth in tourism. Turkey’s ministry of tourism announced that the country welcomed 28.6 million tourists in 2010, an increase from 27 million in 2009, 26.3 million in 2008 and 23.3 million in 2007. Turkey is expecting another good year for tourism growth in 2011 with record numbers of holiday bookings already placed for this summer.

As this trend continues and demand keeps out performing supply, Turkey property owners are looking forward to strong returns over the coming years, benefitting from Turkey’s ascension to become one of the world’s leading holiday destinations.

Turkey property prices increase by over 6% annually Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Industry experts explained to OPP that one major reason for the sudden surge in popularity is because of ‘little overbuild here which helps buyers maintain value in their property, unlike other countries which went for massive urbanisation.’

The increase in Turkish property buyers has followed considerable growth in the country’s tourism industry. Last summer was especially successful for Turkey which has witnessed significant tourism growth over the past few years. This summer is expected to be the busiest yet with record holiday bookings dating back from as early as last year.

Source: OPP

Turkey property gains further price increases Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The data showed that between 2006 and 2008, foreign nationals spent a total of £1.8 billion on Turkey property increasing to £1.1billion in 2009 alone. The newest data now shows that this trend has continued into 2010 with a staggering total expenditure of 1.5 billion in just one year. Interestingly, it was noted that British investors are buying the most property in Turkey.

The increasing popularity of property in Turkey has been witnessed across the industry with agents and developers alike reporting increased sales. It is thought that the increasing interest in property has been helped by Turkey’s ever improving economic forecasts that predict growth of 4.6% and 4.5% this year and next year respectively.

Foreign investors continue to buy more property in Turkey Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

There have been many reasons for Turkey’s increasing popularity amongst real estate investors however there has been a growing contingent of lifestyle buyers. This is no surprise as the country offers an excellent climate, a beautiful environment, a relatively inexpensive cost of living and a laid back lifestyle. Coupled with becoming a major holiday destination, Turkey is attracting a surge of holiday home buyers and expats.

Summer 2011 is expected to be an extremely busy time for Turkey, with high levels of flight reservations and accommodation bookings dating all the way back to mid 2010.

Holiday Home buyers flock to Turkey Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The report highlighted the surge in foreign property investors as the major driver behind the growth, which has brought the country back to the levels experienced before the world wide economic crisis.

“As a whole, post-crisis normalization and growth went hand in hand in 2010,” GYODER stated in a announcement accompanying the report. “Growth has created very convenient conditions for the commercial real estate market, too”.

“Between 2006 and 2008, property sales to foreign nationals stood at $3 billion,” commented Işık Gökkaya, GYODER’s Chairman. “In 2009, the figure retreated by $1.8 billion. But in 2010, such sales rose to $2.5 billion.”

These figures represent a 40% increase in property purchases by foreign nationals last year which suggests investor interest in Turkey is certainly not slowing. Not only is this investor appetite manifesting its self in real terms but the number of  publicly traded real estate investment trusts rose from 6 to 21. This considerable increase indicates market growth from $3 billion in 2009 to $7 billion or $9 billion when including net asset values of the 21 companies. This signifies that investors like not only property in Turkey, but also funds that are pegged to Turkey’s property market growth suggesting big things are expected of its performance over the coming years.

Source: Hurriyet

Foreign investment in Turkish property increases 40% Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey played host to over 28.6 million visitors last year, 2.67 million of which were from the UK – an increase of 10% on the year before.

Senior Director from Turkey’s Culture and Tourism Office, Tolga Tuyluoglu said;

“Turkey has gone from strength to strength in the UK market and has been one of the fastest-growing destinations for British visitors,” stating the reason for this is due to Turkey’s “excellent value for money”.

The findings have strengthened growing attitude amongst international investors given that property in Turkey can provide some of the best holiday rental returns in Europe. Furthermore the growing popularity of the country dictates that property values are likely to increase considerably over the next few years.

Turkey – The fastest growing destination for British visitors Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

“In property, we aren’t talking about the BRICs,” White explained. “Russia has been very problematic regarding investments due to problems such as corruption. India is problematic due to its restrictions on foreign investments. Thus, it’s really China, Brazil and Eastern Europe – Turkey and Poland in particular – that are shining.”

Mr White went on to explain that Turkey is “the most frequently queried country” on the RCA’s website among emerging markets.

Mr White went on to point out that the strength of Turkey’s real estate market is also reflected in the country’s stock exchange through the prevalence of real estate investment trusts or REITs in Turkey. “This is what distinguishes Turkey from the rest of Europe; REITs accounted for 40 percent of transactions last year. In Europe, the average figure is 10-12 percent. In the United States, it’s 25 percent and in Asia, it’s around 35 percent,” he said.

Turkey property performs strongly Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Pavlos Loizou, RICS board member said ‘’ prime locations and good quality properties attract some interest but secondary locations have experienced the most pronounced drop in prices over the year’’

The situation is also improving in Central and Eastern European markets with Poland and Turkey recording the best results in the region.

No need to be wary of buying property Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

International tour operators Expedia explained that Turkey has been a strong growth market for them since setting up operations there over 5 years ago. The company’s Vice President of Market Management Hari Nair said, “We saw a healthy increase from 2009 to 2010 from people booking travel to Turkey online via our websites. Incoming tourism into Turkey through Expedia sites grew 615 percent in the last five years.”

The country is already looking good for further tourism growth in 2011 following a strong January. The President of the Turkish Hoteliers Federation (TUROFED), Mr Ahmet Barut said “The total tourism revenue is expected to reach USD 25 billion in 2011 with 31 million visitors”.

After further tourism growth, Turkey sets its sights on the top. Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Unlike the speculative price increases witnessed in city locations, the growth in the coastal region of Bodrum has been based solely on a booming tourism industry. Turkey’s tourism levels have increased notably in recent years due to a combination of factors such as a low cost of living, year round sunshine, beautiful resorts and a short flight time as well as a rich heritage. The Co-operative travel group found that their bookings for Turkey had risen 23.4% and fallen 11.6% in other Mediterranean equivalents.
One industry expert summarised the effect this was having on property “The more tourists come, the greater the number of those who want to own a home here. Turkey has phenomenal summer weather, many Turks speak English and with prices an absolute bargain compared with many other resort locations around Europe, there has been a positive upsurge of buyers.”

Turkey’s increase in tourism has been most prominent in coastal areas such as the nation’s leading coastal location, Bodrum. The high level of tourism here combined with the country’s general property price growth is producing excellent returns for Bodrum’s investors.

As well as strong price growth, Bodrum offers excellent rental yields. The holiday-let market attracts premium rental prices opposed to the normal lets that occupy inland and city locations. These higher yields are often offset by a limited holiday season; however Turkey enjoys a year round climate with tourists visiting through-out the year.

Bodrum also offers a much lower cost of living meaning holidays there are more attractive than other areas and more importantly, investment entry levels are lower. This leaves a much greater scope for gains from price growth ultimately providing higher returns on investment.

Bodrum, Turkey highlighted for investment potential Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Fitch Ratings, Moody’s Investors service and Standard and Poor’s all increased their expectations of Turkey this year. Ed Parker, Head of Emerging Europe in Fitch’s Sovereigns team said ‘The revision in Turkey’s Outlook reflects its strong economic recovery, improving public finances and increasing confidence that a lasting transformation in the country’s economic prospects and stability is underway,”

Banking giant HSBC have also added weight to Turkey’s investment credentials. Identifying the economies expected to experience the most growth over the next 10 years (the CIVETS) Turkey was amongst the top few nations. HSBC CEO Michael Geoghegan said the growing significance of countries like Indonesia and Turkey will increase the power shift away from the traditional economic heavy weights in Europe and the United States.

“Within three years, for the first time, the economic firepower of emerging markets will overtake the developed world, measured by purchasing power parity. It’s a defining moment.” He continued

The OECD (Organisation of Economic Cooperation and Development) has also strengthened its predictions of Turkey, saying that it anticipates that Turkey will be the 12th largest economy in the world following a strong 2010.

Turkey has already experienced high levels of growth during 2010, doubling the growth of the best performing EU nation in Q2 and second only to China internationally. As a result the International Monetary Fund increased its forecast for Turkish growth saying in April that its economy “has already recovered from the initial external shock” of the economic difficulties with trade and capital flows returning to normal.

South Korea’s leading carmaker Hyundai Motor Co, is among some of the overseas corporations investing in Turkey. Hyundai has set out plans to invest $75 million and increase its workforce in Turkey by 400% due to the favourable economic conditions there.

To add to the positivity and anticipation surrounding Turkey’s economic performance, Turkey is predicted to receive a boost from tourism revenue with US$ 22.5 billion expected in 2010 rising to US$ 23.8 billion in 2011 according to the program of State Planning Organization (DPT).

An expanding economy, backed by a strong tourism industry has enviably led to increased FDI into the real estate sector. The Ministry of Public Works and Housing have taken steps to improve this further by recently easing regulations on foreign nationals purchasing land in Turkey. These reforms are expected to take full impact as early as 2011 and will boost the market, further opening it up to lucrative Middle East investment.

Proposed new policy from the Ministry of Public Works and Housing to ease regulations on foreign nationals purchasing land in Turkey, is predicted to come into force as early as 2011, and could further boost the market, opening it up to increased levels of lucrative Middle East investment.

These changes follow a series of improvements made to the acquisition process for Turkish property in 2010. According to a report by Jones Lang LaSalle and LaSalle Investment Management, Turkey is the most improved country in terms of real estate transparency for 2010.

Turkey the place to invest in 2011 according to experts Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

American Express Global Foreign Exchange Services Director of Trading & Business Development Terry Perrin said that Turkey and Egypt looked set to grow in popularity in 2011, supporting the opinion of many industry professionals.

Both Egypt and Turkey offer fantastic value for money which has considerably aided their popularity amongst tourists and property investors. “With the current volatile economic climate, we’re finding that holidaymakers are choosing all-inclusive destinations – which are more common with long-haul trips – to ensure that they know exactly what they will be spending on their holiday before they leave. They then don’t need to worry about exchange rate fluctuations or how much they will be spending on their holiday.” Perrin added.

Egypt and Turkey climb in Currency Rankings Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

This trend was supported by a recent survey of Russian property investors, a group that has historically lead the rest of the world when identifying emerging markets. The report commissioned by OPP in conjunction with 1-Property.ru, a leading Russian property portal found that Turkey is in their top 3 places to invest. When taking a closer look into Turkey it is easy to see why it offers such an attractive investment.

Firstly, Turkey is one of the world’s fastest growing economies. Turkey achieved GDP growth of 10.3% in the second quarter of 2010 which is 8.3% higher than the EU average and more than doubles the growth rate of the best performing EU nation. More impressively, the OECD has forecast an annual growth of 6.7% in Turkey over the next 7 years which is higher than any of its member nations.

This growth has been built on the back of a strong banking platform and a stable financial system. It was actually the basic nature of Turkey’s banking sector that shielded it from the complexities of the global economic downturn. The government have supported this advantage and used the last two years to improve Turkey’s fiscal stability. Now these steps are being rewarded as banking security has created much more confidence amongst investors. This confidence is shared by the IMF Managing Director, Dominic Strauss-Kahn who said following news that the EU had allocated 2 seats to be given to emerging markets, “I think Turkey is the most suitable candidate for a post on the executive board.”

The second and most obvious reason for Turkey’s popularity amongst the investment community is its tourism success story. Helped by the weakness of the Turkish Lira, Turkey is quickly moving up the world tourism rankings (currently 7th) having nearly overtaken last year’s visitor numbers in the first 3 quarters.

Steven Worboys of Experience International, comments: “Turkey’s tourism levels as a whole in 2010 have been impressive with a 12 per cent increase in UK visitors recorded in the first nine months taking the total number of international visitors to 23 million so far this year according to the Turkish Ministry of Culture and Tourism.”

Growth is expected to continue further according to experts like the Conde Nast Travellers Magazine, which voted Turkey their No.1 destination and the Association of British Travel Agents who predict annual tourism growth in Turkey to accelerate from 20% to 25%.

The growing interest in the Turkish property market has already translated into increased sales. The Turkish General Directorate of Land Registry published figures showing over 32,000 UK investors alone buying in Turkey.

Eye on Turkey – Property Investment Potential Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

However it’s Turkey’s tourism industry that has really shown the most promise. Having nearly reached 2009’s total visitors within the first three quarters Turkey has really impressed the property investors of northern Europe.

The trend follows the ‘Association of British Travel Agents 2009 report’ that stated tourism to Turkey would accelerate from an annual growth of 20% to 25% due to the expense involved with holidaying in the Eurozone. With the Euro becoming increasingly expensive, visiting Europe has become too costly for both tourists and investors alike. Turkey offers a better value alternative within easy access of Europe, Asia and North Africa.

Amongst a stream of positive new articles supporting Turkey’s expanding tourism industry; the country was also praised this year by the popular Conde Nast Travellers Magazine, which named Turkey their Number 1 destination.

The good news doesn’t seem to cease for Turkey and very big things are expected of it in 2011 as it draws even closer to becoming a part of the EU.

Another good year for Turkey marks consistent growth Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Turkey was amongst the standout countries at the recent MIPIM trade show in Cannes and is at the forefront of the real estate sector recovery leaving neighbouring countries in Europe lagging behind.

According to OPP, the health of Turkey’s property market is down to the country’s ever-growing population and its stable financial structure, recently highlighted by Standard and Poor’s latest credit analysis.

Further support to Turkey’s growing status as an investment-property hotspot comes from research company RNCOS who recently announced that the country’s tourism sector will witness considerable growth over the next few years.

Source: propertyshowrooms.com

Property hotspot Turkey leads the way Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Whilst 2009 saw the economic downturn force global tourism to contract by 4.3%, Turkey welcomed more than 27 million foreign visitors according to the report.

Analysis of the figures proved Turkey to be most popular with German tourists with almost 4.5 million Germans visiting the country in 2009. Russian tourists accounted for 2.6 million of total visitor numbers, followed by Britain with 2.4 million visitors.

Nearly 4.5 million German tourists visited Turkey in 2009 and Russia was the second country to send biggest number of tourists to Turkey with 2.6 million which was followed by Britain with 2.4 million visitors.

Commenting on Turkey’s tourism Ahmet Barut, chairman of the Turkish Hoteliers’ Federation said tourism in Turkey achieved revenue of 21 billion dollars in 2009 and was confident of the sectors continued success:

“The Turkish tourism sector will keep growing,” Barut said, “our goal is to attract 28 million tourists to Turkey in 2010 and obtain an income of 22 billion U.S. dollars.”

Source: The Journal of Turkish Weekly

Turkey tourism bucks global trend in 2009 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Reacting to the country’s growing popularity amongst British holidaymakers, Monarch is launching new and additional flights to Bodrum, Dalaman and Antalya from May 2010.

Bodrum Airport, which serves as a gateway to the Aegean coast, will welcome two new weekly Monarch flights from Luton as well as an increased service from Gatwick and Manchester.

Managing director of Monarch Flights and Holidays, Liz Savage, commented:

“Demand for Monarch holidays to Turkey grew over 200% in 2009 and is set to increase further in 2010. The introduction of the new Monarch flights to Dalaman, Bodrum and Antalya… supports the increased demand and will provide further choice and flexibility for customers looking to take advantage of this compelling, non-eurozone destination.”

Turkey received over 28 million visitors in 2009 and according to expert opinion is expected to be amongst the fastest growing tourism destinations in the world in 2010.

This is great news for buy-to-let property owners in Turkey who look set to capitalise on Turkey’s increased accessibility coupled with ever growing tourist numbers.

Sources: Didim Today, Skyscanner and Property-abroad.com

Monarch increase flights to Turkey ahead of holiday boom Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

“Demand for rentals is going from strength to strength as travellers realise they can rent a whole home for less per head than a hotel and stretch their budget even further by taking advantage of self-catering facilities,” explained Courtney Wylie, Managing Director of Holiday-Rentals.

Holidaylettings.co.uk reported a 70% increase in the number of enquiries about Turkey rentals in 2009 and, furthermore, revealed Turkey had outshined usual favourites Portugal and Florida in September and October.

These figures are supported by statistics released by the Turkish Minsitry of Culture and Tourism revealing that Turkey received over 26 million tourists in 2009.

This is great news for property owners in desirable locations, such as the coastal regions of Bodrum. Already a tourism hotspot, Bodrum is set to further gain from Turkey’s rising tourist numbers, making the region an attractive option for investors looking to capitalise on its growing popularity and Turkey’s thriving rental market.

Emphasising Turkey’s investment potential, Dominic Whiting, editor of the Buying in Turkey guide commented:

“With the private rental market growing in such a successful manner, investors can expect solid returns. The future certainly looks bright for Turkey.”

Source: Quest Turkey and Hurriyet Daily News

Turkey property rentals thrive in 2009 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

In line with recent reports of growing tourism levels in 2009, Pegasus Airlines has seen its passenger levels from the UK more than double from 2008 so far this year. Pegasus Airlines chairman Ali Sabanci said:

“In the first nine months of 2009 alone, Pegasus Airlines grew by an impressive 46% on international routes and 41% on domestic routes”.

Commenting on the airline’s expanded UK service Daniel Dias of Turkish property developer Signature International explained it wasn’t unexpected:

“Turkey has exploded as a destination of choice over recent years and it makes good commercial sense for the airlines to capitalize on the boom”

Dias added that he expected Easyjet to follow suit by extending their route from Gatwick to a year-round service.

This is great news for Turkish property owners who can expect increased accessibility to the country to add value to their property. The expanded service to coastal areas such as Bodrum will only add to the region’s growing popularity amongst those seeking the ideal holiday home.

Source: www.homesgofast.com

New flights make Turkey even more accessible Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Despite the recent months of global economic uncertainty, the number of visitors to Turkey in 2009 is up by 1.1% year on year, further evidence of the country’s growing stature as a leading travel destination.

According to the article, annual tourist numbers to Turkey are expected to reach 33 million by 2012, whilst PricewaterhouseCoopers have predicted Turkey’s tourism industry will increase by 12.1% between 2010 and 2013.

Supporting recent findings, the article described Turkey as a top destination for British tourists in 2009, reporting an 11% annual increase in the number of British visitors. The Mugla region of Turkey, home to the resorts of Bodrum and Marmaris, is a particular favourite amongst British holidaymakers, who make up nearly half of all visitors.

Commenting on Turkey’s growing popularity, Ertgrul Gunay, Turkey’s Culture and Tourism Minister said “We are delighted with Turkey’s tourism successes and the continued expansion in visitor numbers to Turkey despite the economic downturn. Looking ahead we’re confident that Turkey’s tourism industry is poised for even further growth”.

Source: Breaking Travel News

Turkish Tourism defies economic downturn Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Signalling its confidence in the future of the country’s economy, the bank has revised its earlier estimate of Turkey’s growth from 1 to 3%.

The EBRD reported that Turkey had weathered the global recession better than most due to its robust financial industry. This, it said, would be a major factor in the fast recovery expected in 2010 along with increasing foreign trade and demand from the European Union countries.

Furthermore, the bank outlined its plans to prioritize Turkey for investment, with particular support to be targeted at Turkey’s tourism, infrastructure and real estate sectors.

News of these plans endorse popular opinion that Turkey is presenting the ideal opportunity for overseas investment.

Source: The Hurriyet Daily News

European bank gives improved outlook for Turkey’s growth Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

In its latest research, the international property investment network used a ratings system to rank property markets according to their investment potential. Turkey was awarded second place, achieved by its strong legal system providing much sought after protection to investors.

In light of these findings, Mortgage brokers, UK Mortgages Abroad said it had witnessed an increase in the number of Turkey enquiries. Explaining the country’s popularity, Mark Nicholls, Operations Director, said:

“The cost of living is cheap and property prices are very low meaning people can buy at a good price and live comfortably”.

This is particularly true for luxury property in desirable locations, such as the coastal regions of Bodrum, Dalaman and Marmaris, where quality property can be purchased at a good price offering exceptional value for money.

 Source: Mortgage Solutions

Turkey best for overseas property investment Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

 With the euro holding its own against the pound, British tourists have been choosing holiday destinations outside of the eurozone, and Turkey in particular is rising in popularity. M&S Travel Money Manager, James Yerkess advised:

 “Families looking for a value-for-money holiday destination this half-term should consider Turkey. The Turkish lira is one of the few currencies against which the pound has held its value since last year, meaning tourists heading to Turkey will still see their cash go further”.

 The favourable exchange rate combined with the low cost holiday benefits has attracted an increased number of tourists to Turkey, enabling it to remain as a top choice for holiday makers.

Source: Easier.com travel article

Turkey top destination for British Tourists in 2009 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

 Speaking at Akbank’s reception at the World Bank-International Monetary Fund annual meetings, Derviş said the global downturn had highlighted the need for strong regulation and effective international policy. He praised Turkey’s strong financial system for protecting the country from the adverse effects of the global recession and urged for action to be taken to capitalise on its success:

 “Now it is time to develop further by encouraging national saving, reinvigorating the markets and financing employment”.

Also speaking at the reception was Akbank Chairwoman, Suzan Sabanci Dinçer who stated that Turkey now stands at the centre of the global economy.

 Source: Today’s Zaman

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