An increase in the number of overseas buyers active in the Turkish property market has helped the sector to exceed growth expectations.

This is according to a recent report by the Association of Real Estate Investment Companies, which found that the market is returning to strength following the recent economic troubles, Hurriyet reports

Indeed, between 2006 and 2008, property sales to foreign nationals stood at $3 billion (£1.8 billion). In 2009, the figure fell by $1.8 billion, but has now rebounded up once again to $2.5 billion.

"Real estate sales to foreign nationals rose by 40 per cent, reached $2.5 billion. Foreigners' interest in and appetite for Turkish property continues to increase. If the reciprocity problem is solved, we think the figure may double," Is?k Gokkaya, the chairman of organisation, said.

Mr Gokkaya added that the country's construction sector expanded by 18 per cent over the course of last year, with new developments springing up around Turkey.

Meanwhile, Nick Mar, chief executive officer at Homesgofast.com, recently claimed that Turkey is one of the best foreign property markets at present, along with Spain, Brazil and Malaysia.

Property developers and agents in the popular destination of Turkey have been witnessing an increase in the number of individuals buying property in the region, it has been reported.

Overseas Property Professional has claimed that the introduction of new finance deals to the area has sparked a surge in the number of investors purchasing property in Turkey.

Advantage Properties International told the news provider that a five-year interest-free deal at a golf resort in the region of Bodrum was proving to be popular among investors.

Rahul Hireguntanur, API's business development manager, explained: "We're working with BNP Paribas and Is Bank in Turkey to provide 70 per cent loan-to-value mortgages."

The port town of Bodrum is well placed for individuals looking to buy property in Turkey, as earlier this year three low-cost airlines announced that they would be increasing the number of flights they offered to the region.

Pegasus Airlines was joined by Easyjet and Monarch in offering additional services to the country to keep up with growing demand.

In addition, British property investors can capitalise on the fact that Turkey lies outside the eurozone, with the GBP performing well against the Turkish lira.

Istanbul is an attractive proposition for property investors who will be able to return a good profit on their original outlay, it has been claimed.

According to a report in the Belfast Telegraph, demand for housing in the country is growing and the fact that property is relatively cheap is spurring potential investors on.

David Richardson, of Property Sun Turkey, told the paper: "Property prices are undervalued so there's an opportunity to make good money in Istanbul - up to 40 per cent profit - in the next two years for a well-chosen off-plan investment.

"But for most foreigners, I'd recommend a medium-term, five-year investment strategy as capital gains tax is nil after that period."

Potential house buyers will be able to take advantage of the fact the Turkey is currently a non-eurozone destination and as such can benefit from a favourable exchange rate between the Turkish lira and GBP.

Furthermore, the tourism industry in Turkey is expected to experience significant growth in the next few years, research company RNCOS has claimed.

Turkey is the place to go if you are looking to purchase bargain property, it has been claimed.

The international economic crisis has meant that property sales in the popular tourist destination fell dramatically in 2009, which has led to developers offering "significant discounts" to tempt investors back to the market.

That is the opinion of Richard Edgar, spokesperson for Turkey and the Caribbean at the National Association of Estate Agents International, as he revealed his predictions for the global property market.

"In Turkey, bargains are to be had as developers try to encourage sales with significant discounts, particularly for cash buyers, and this trend will continue through 2010 in an attempt to mop up excess stock," he said.

"There is a glut of unsold properties providing some genuine and excellent bargains … with some offers of up to 40 per cent discount for cash buyers."

According to research company RNCOS, Turkey's tourism industry will experience significant growth in the coming years.

Investors looking to buy-to-let in Turkey will be boosted by the news that the holiday rental industry has seen an increase in enquiries in the first ten days of 2010.

Overseas Property Portal (OPP) reported that holiday rental website holidaylettings.co.uk had over one million potential travellers visiting its website at the start of the New Year, an increase of over 50 per cent compared with the same period in 2009.

Popular destinations included Spain, France, UK and Portugal but it was Turkey that was tipped as the location to do well in 2010.

In an interview with OPP Kate Stinchcombe, a spokeswoman for Holidaylettings, remarked that: "Early insights show that Turkey is going to benefit once again this year and took a significant stake in the pre-Christmas bookings for summer 2010."

"It is currently the seventh most popular country destination in the January rush for holidays."

Late last year, investor magazine Quest Turkey said the country's tourist rental sector had been benefiting from being outside the eurozone as this makes it cheaper for Britons to visit because of the favourable exchange rate.

There are ten good reasons to buy property in the Turkish resort of Altinkum, it has been suggested.

The Didim Today newspaper stated that the area offers both a wide choice of properties for sale and affordable prices.

At the same time, there is the prospect of values rising as a new marina for the resort will soon be complete and a golf course is due to be built next year.

The paper noted that the general cost of living is low, while the district offers plenty of entertainment, a blue flag beach and a warm climate.

It was also advised that history lovers can see the nearby temple of Apollon and access to the area is easy, with international flights from Bodrum and Izmir.

While the list may provide reasons for some people to choose Altinkum, Turkey as a whole has been tipped as a good investment recently.

Last month, founder of broker Istanbul Mortgage Bahadir Teker told the Financial Times that the prospects for expansion in the market are strong, meaning "now is a good time to buy."

Those keen to buy a Turkish property may be interested in advice given to sellers by a firm of experts in the country.

The Turkish Villa Finder website has produced a number of such tips, Didim Today reports.

It said those looking to sell should inform a wide range of estate agents, as well as putting up for sale signs.

It also said people should look to advertise these properties via specialised real estate websites, online banner advertising and the classified sections of papers such as Didim Today.

Those keen to buy a property in Turkey may find such sources a good way to discover the home they want to buy.

One reason to acquire a house or apartment in Turkey may be the lower cost of living, according to a previous article by the same paper last month.

It noted that this is 60 per cent cheaper than in Britain.

Turkey and Egypt are set to remain as popular tourism destinations in 2010, according to American Express.

Figures from the firm's Global Foreign Exchange Services Currency Index showed that the two countries became increasingly popular this year as summer holiday destinations, with more favourable exchange rates with sterling than the euro.

This saw a 60 per cent year-on-year rise in demand for Egyptian pounds and a 26 per cent increase for Turkish lira.

Such a trend is likely to continue next year, the firm predicts, which could make these countries a good place for those investing in tourist property to buy.

One Turkish resort recently tipped to fare particularly well in 2010 is Altinkum.

Earlier this month, Didim Today reported that a new golf course is planned for the area, in addition to the marina currently being built.

Editor of the Buying in Turkey guide Dominic Whiting told the paper: "It will certainly broaden the area's appeal and have a positive effect on the property market."

Those looking to buy a property in Turkey should make it a priority to do more than look at the title deeds to any home they are seeking to purchase, an expert has said.

Such advice has been delivered by the Sunday Zaman newspaper, which stated that under the law of the country a home seller does not give up the title deed, as the new buyer gets a fresh one.

This makes it theoretically possible for a home to be sold more than once, so buyers should look at the official register rather than just the deed, it notes.

However, the paper said, there is no reason why overseas property buyers should not be able to make purchases without any problems, noting: "It must be possible, as over 85,000 foreigners have managed it."

Last week Quest Turkey Property and Lifestyle Magazine noted that Dalyan has become a major centre for overseas buyers in recent years.

Its location on the Turquoise Coast and proximity to Dalaman's international airport were two factors cited in its success.

The FTSE Global Real Estate Index Series has been extended to include the property markets of 12 new emerging markets.

As a result, investors will be able to follow the performance of listed property in these countries, which include Brazil, Egypt, Turkey, Malaysia and South Africa.

The indices, which are created in partnership with the European Public Real Estate Association and the National Association of Real Estate Investment Trusts, give buyers the ability to track the price of real estate in a number of global markets.

Head of alternatives at the FTSE Group Ronnee Ades said that the firm was "pleased" to expand the index, noting that the market for global real estate "has grown significantly in both size and diversity over the past few years", with investors showing a greater interest in "accessing emerging markets".

Abta - The Travel Association recently revealed that Turkey and Egypt are two destinations that Britons are likely to visit on holiday in 2009, describing them as "big growth areas".

A number of factors have resulted in Turkey becoming a popular destination for Britons looking to invest in overseas property, it has been claimed.

According to head of Chesterton International Andrew Hawkins, the country is seen as being cheaper than destinations such as Spain or Portugal, while new airports being opened in the country will provide improved access with direct flights to and from the UK.

"Turkey is becoming a much more accessible place," he remarked, adding that it is a "really nice destination" due to the provision of "European quality and standards in a more exotic setting".

However, Mr Hawkins noted that investors "have to be careful" when considering making purchases in the country, as there may be some examples of low-quality construction in the country.

One property development investors may wish to consider is The Hill in the coastal resort of Antalya, where a one-bedroom apartment can be purchased from £89,000, Homes Overseas reports.

Turkey expects to play host to over 25 million tourists by the end of the year, the country's culture and tourism minister has stated.

Ertugrul Gunay made the claim at a press conference at this year's World Travel Market fair in London.

Mr Gunay noted that Istanbul - the country's main commercial city - had already seen over six million tourists visit so far this year, while the resort of Antalya in the south had eight million visitors.

British tourists were among those increasingly choosing the country as a holiday destination, with a 13 per cent increase in travellers bringing the total to 1.9 million to date and a predicted 2.3 million by the end of the year.

The news may be welcomed by those considering making property investment in the country, as an increase in tourism numbers may result in demand for rented holiday homes going up.

Turkey was recently described as one of Europe's "premier yachting destinations" by the editor of Buying in Turkey Dominic Whiting.

Tourism officials from Turkey have arrived in Beijing to launch a major promotional campaign.

More than £730,000 will be spent on marketing the country to an international audience throughout the Olympic Games, reports the Turkish Daily News.

Advertisements for Turkish towns and cities will be placed in various locations across Beijing, including shopping centres and other public spaces.

In addition, promotional videos will be shown on shuttle buses between the city centre and Beijing Airport.

Images of Turkish towns, beaches and leisure attractions will also be displayed in taxis, petrol stations, hotel lobbies and lifts.

The government-funded marketing strategy should help raise the profile of places such as Antalya, Izmir and Istanbul and will be carried out until the end of September.

According to the Association of British Travel Agents, there has been a 20 per cent increase in the number of bookings for Turkish holidays this year.

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A government official has hailed the tourism sector's contribution to the Turkish economy.

According to Ismet Yilmaz, undersecretary of the country's tourism and culture ministry, the holiday industry is the single biggest generator of wealth in Turkey.

However, he has stated that if it wishes to sustain a high rate of growth, the sector needs to broaden the appeal of the nation to foreign consumers.

He was quoted by the Turkish Daily News as saying that it currently relies on sun, sea and sand tourism.

Mr Yilmaz believes that other markets also have the potential to be exploited, thereby fuelling further growth in the sector.

"Conference, health and winter tourism as well as faith, sports and ecotourism should become widespread in Turkey to create diversification," he commented.

Ahmet Barut, chairman of the Turkish Hotels Federation, recently stated that the country is already attracting more holidaymakers than it did in 2007.

Indeed, visitor numbers during the first half of the year were 15 per cent higher than those recorded 12 months earlier, the Turkish Daily News reported.

 

Holidaymakers in the UK are increasingly showing interest in visiting Turkey, it has been revealed.

According to Cheapflights.co.uk, economic factors such as the strong euro are putting people off taking breaks to traditional hotspots such as Spain.

As a result, more people are searching for cheaper alternatives which do not use the single European currency and offer more favourable exchange rates.

Turkey was found to be attracting considerable attention from money-conscious holidaymakers, in particular the Dalaman area.

The website stated that in the last year, the number of people viewing information on this region online has gone up by 17.5 per cent.

Commenting on this development, Chris Cuddy of Cheapflights.co.uk said: "A definite trend appears to be emerging for alternative vacation destinations."

This backs up the findings of the Association of British Travel Agents, which recently found that the number of bookings for Turkey has risen by 20 per cent on a year-by-year basis.

 

A British airport has revealed that current economic conditions are driving a surge in demand for flights to Turkey.

According to East Midlands Airport (EMA), services to places such as Dalaman have proved to be very popular with consumers in recent months.

This has been mainly attributed to the fact that Turkey offers more favourable exchange rates than many other European countries.

Indeed, figures indicated that in the last year, there has been a 17 per cent increase in the number of people flying to destinations outside the EU.

Since the pound has recently slumped to all-time low against the euro, this could because people want to get more for their money in other places.

EMA commented: "More and more holidaymakers are choosing to jet abroad to more value-for-money destinations outside the eurozone, such as Dalaman in Turkey."

According to the Association of British Travel Agents, the European country has become one of the main hotspots for holidaymakers from the UK this summer.

In fact, figures show that the number of bookings has risen by 20 per cent on a year-by-year basis.

 

The increasing cost of living in the UK is prompting many people to leave the country, experts have revealed.

According to Shelter Offshore, more and more Britons are choosing to relocate as they are facing too many financial constraints at home.

Turkey was highlighted as the main hotspot for this group, as it offers a number of financial benefits to expatriates.

For example, it was said to have relatively low house prices and a highly affordable cost of living.

Commenting on the country, Rhiannon Davies of Shelter Offshore observed: "The cost of living can be a fraction of that in the UK if pensioners shop wisely and live relatively carefully."

She added that Turkey is also the "ultimate choice" for many British expatriates because it is easily and affordably accessible from the UK.

According to a recent study by NatWest, 91 per cent of expats from the UK are much happier than they were in the UK, while a similar proportion claims to be better off financially.