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Turkish property is remarkably good value!
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| Turkey (Alanya) |
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€70 |
| Ireland (Dublin) |
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€300 |
| England (London) |
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€540 |
| Spain |
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€245 |
| Portugal |
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€245 |
| All figures shown are for the purpose of giving approximate estimates of property costs in other foreign locations indicated based on current property prices. |
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| Property costs may vary accordingly within each indicated country. |
- Turkey is an EU candidate member and expects to join the EU in 2013 / 2015. Once this happens the Turkish market will open up and property prices are expected to rise substantially.
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- There is no mortage market in Turkey. Most Turks purchase property based on available cash which contributes to lower prices. Once the mortage market is up and running (this is expected to happen within the next 1-3 years) more Turks will be able to purchase land, leading to a rise in property prices.
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- Consistent property appreciation rates of between 20% - 35% per annum.
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- Turkey is the 18th most visited country in the world and ranks 13th in tourism income. The Turkish Ministry of Tourism expects Turkey to be the 11th most popular tourist destination in the world by 2005 with over 20 million tourists arriving to Turkey each year.
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- The tourism industry in Turkey generates in excess of 8.1 billion USD per year accounting for all most 30% of earnings from export of goods.
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- 64% of all tourists that take holidays in Turkey are from Europe.
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- Gateway between Europe & Asia.
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- 4 hours flight from Ireland and UK with additional routes expected to be
opened in the coming years.
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- The Turkish economy has been performing very strongly over the past 3-4 years with most evidence suggesting it will continue to perform well for some time to come. GNP growth of between 7.5% and 8.5% have been experienced in recent years with GDP increases of 4%.
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- Turkey has a wide range of opportunities on offer for the foreign investor. Some other reasons for investing in Turkey include the following:
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- The World Trade Organisation considers Turkey to be one of the most dynamic countries in Europe / Asia.
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- It has a very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.
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- Agreements between Turkey and 39 other countries to promote and protect mutual investments as well as an agreement to preclude double taxation.
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