Published: 9th September 2013
Over the course of the past two years of the Turkish property market has been one of the shining lights amongst an otherwise gloomy overseas property market. Today a new report released by the Turkish statistical Institute has gone on to show that this increased demand for property in Turkey is continuing into 2011 and shows no sign ofslowing.
The report showed that in the first three months of 2011 Turkish property sales increased by 6.07% year-on-year, with 20 of the regions within Turkey showing increases and just six showing year-on-year falls.
This increasing demand for property in Turkey is being driven not just by Turkish nationals, but also by a considerable number of overseas investors who are seeking to capitalise on a strong economic growth in tourist demand within Turkey. In particular the coastal destinations such as Fethiye, Bodrum, Alanya and Altinkum have proven incredibly popular over the past 12 months.
As well as the coastal destinations, investors are also seeking to capitalise on a huge growth in demand for rental property in Istanbul and the surrounding suburbs. With large numbers of people flocking to Istanbul on an annual basis, it is estimated that the population of the region is increasing by almost 250,000 each year.
For investors, the figures do support further investment in Turkey, and with exports increasing by over 26%, and imports climbing 40% year-on-year, it is understandable why many people have looked to invest property in Turkey in recent times.