EU membership will help long-term Turkish growth, says expert

A property expert has said the Turkish market is growing quickly even without the country being a European Union (EU) member.

Turkey is a candidate for EU status but according to Liam Bailey, Property Wire's global markets expert, the country is already seeing a boom.

Mr Bailey said one of the greatest advantages the market has is that prices remain "relatively low" despite increasing by between 30 and 40 per cent in the past two years.

An example of this is that a two-bedroom apartment in the resort of Dalaman can be bought for as little as £40,000, he stated.

He also said the country has excellent rental yields of eight per cent a year and the future prospects are good because the government is taking advantage of the country's size to ensure there is not too much development in any one location.

However, Mr Bailey concluded, EU membership will be needed to maintain the current boom in the long term.

Turkey is currently one of three candidate states for EU membership, the others being Macedonia and Croatia.