The AK Party has remained in power in Turkey. Despite fears that they would return to their Islamic-style roots, leader Tayyips Erdogan is portraying AKP as a moderate party with aims of justice and development.

It is this aim of development that will catch the eye of foreign property investors. The AKP have been in power for five years and during this time, the property market in Turkey has boomed alongside the economy thanks to free-market policies and economic reforms. Inflation has fallen from around 100% at the end of the nineties to single digits and the number of unemployed has declined dramatically.  Read more... (425 words, estimated 1:42 mins reading time)

From January 2008, foreign investors looking to buy property in Turkey will be able to apply for a Turkish mortgage thanks to the introduction of a new mortgage law that is aiming to encourage foreign investment. Previously, foreign investors had to finance their Turkish real estate through loans or mortgages back in their home country, or buy with cash, however the new law looks set to revamp the mortgage market.

The new Turkish mortgages looks set to be quite expensive at around 17.5% but will help the country become more accessible to foreigners and therefore help to bring in more tourism too. The government have already outlined plans to open the country up by developing airports, terminals and infrastructure to help the country’s economy and tourist trade.  Read more... (198 words, estimated 48 secs reading time)

Overview

Turkey is all about fusion – it’s a place where Asia meets Europe; a place with an exotic heart. Many people are catching on to the unique culture of Turkey and are snapping up cheap real estate and it’s not hard to see why. Property prices are still fairly low in Turkey, yet is has a wealth of diverse attractions making it a good bet for excellent future returns on investment.  Read more... (761 words, estimated 3:03 mins reading time)

If you would like to live in Turkey, you will need to get a residence visa. To do this, you must submit all relevant documents to the Turkish Consulate General at least eight weeks before you depart from your home country (depending on Visas circumstances, nationals of European Union countries and nationals of Australia, Canada, Iceland, New Zealand, Norway, Switzerland and USA may be issued a one year resident visa in a week).

After you obtain your Visa, you must register with the local police force within a month of arriving in Turkey so that you can get hold of a residence permit. If you need to extend your residence permit, you will need to reapply at the same police station before your current permit expires.  Read more... (680 words, estimated 2:43 mins reading time)

Property in Turkey has recently become a popular place to buy for foreign property investors, particularly in the coastal regions. Turkey has a warm climate with miles of sandy beaches and plenty of history. Popular places for investors include Alanya, Gocek, Antalya and Belek.

Turkey is already a NATO member and is likely to become a member of the EU in the near future. This means that property prices in Turkey are increasing. If Turkey does become a member of the EU, predicted for around 2015, property prices are likely to increase even further making it the perfect place for an investment property.  Read more... (553 words, estimated 2:13 mins reading time)