Turkey's economy is currently one of the fastest growing. Due to its exceptional natural and historical resources, the country is at the forefront of the most attractive investment destinations in the world. Hundreds of new investment projects have been declared for construction, despite the fact that in the last five years the construction was perhaps the most rapidly growing sector in the country. One of the main advantages of the marketed properties in Turkey is their average price which is much lower than the one in other European countries.
The average levels achieved in the residential properties are still well below 1 000 euros per square meter, although the value of new construction rose by 12.23% last year, and the growth in the secondary market is between 1-3% per month , depending on the region. At the same time, the state also guarantees pretty good year-round income from rent, which is calculated on an average of 6.2%. Turkey has sufficiently well-developed market of companies that offer property management and that successfully manage newly purchased vacation properties.
The most sought-after properties are located on the west and south coasts, and in the largest city Istanbul. The property demand in the capital Ankara and in the central and eastern parts of the state is significantly lower.
In Istanbul, the average property price of luxury apartments varies between 2000 and 4500 EUR per square meter, however in its unattractive areas one can find prices from 600 up to 800 euros per square meter. The market in Turkey provides the investors with any type of property offers - from new apartments in complexes to luxury homes and apartments on the secondary market. The demand for properties is mainly concentrated on the new construction, while the rental market offers some extremely high prices that vary between 300 and 2000 EUR per week, and the trend is rising.
