Turkish Property Market Predicted to Become Even Hotter

The Turkish property market is predicted to be extremely active this year due to increased confidence from foreign investors, and the number of developments being launched this summer. The figures released by the Turkish Real Estate Investing Partners Association (GYODER) show that foreign investments increased by 40% last year with sales worth $2.5 billion. To put this in perspective, sales between 2006 and 2008 totalled $3 billion.

Although there are regions of high supply, in general Turkey has not fallen into the trap of other Mediterranean countries of oversupply. Another Turkish strength is its 8300 km of beautiful coastline, offering property buyers a huge choice of location and property type, so just about everyone can find a home to fit their budget. The Bodrum peninsula is increasingly popular, not least because of its good connections to the rest of Europe. First Choice Airways, Thomas Cook and EasyJet all have regular flights to Bodrum, while Monarch will begin twice weekly flights from Manchester next month.

It's easy to see why Bodrum is popular as it's an ancient fishing village with a great deal of history which appeals to culture vultures, but it's also a lively town plenty of restaurants and bars. Gumusluk is close to Bodrum but offers a much more relaxed style of living, and the area is especially popular with divers and families attracted to the blue flag cleanliness of the beaches. Property prices are still very competitive in Turkey, especially when compared to other Mediterranean countries whose property markets have suffered greatly in the global economic downturn.

Azure Overseas are currently marketing a new property on the Bodrum Peninsula. The Village II offers high quality apartments featuring mod cons like air conditioning, internet and sattelite tv, in a fantastic resort complete with Gym Centre, Beauty Spa, Turkish Bath complex, Swimming Pool, Children Swimming Pool, Pool Snack Bar, Restaurant/Café, Market, and Childrens Playground. As an example of the value the development offers 1 bedroom apartments with a 5% rental guarantee for less than £40k.