Currency weakness attracting foreign buyers
By Danny Bance

Coastal Tourism Boosting Property Market in Turkey

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The market for tourism on the coast of Turkey is helping to boost the property market in the nation, according to new reports. The ever-improving marine tourism sector is providing a real building point for the sector this year, a trend that is likely to continue into this year and beyond. The fact that many of the top-class marinas in the coastal areas of the country are less than two years old shows the potential that the market has to grow further in years to come, said Spot Blue International Property.

Currency weakness attracting foreign buyers has been one of the only saving graces of the market for property in Turkey in the last couple of years, and it could be the case that those coming from overseas continue to drive growth in the next few years. "Turkey’s upped its game in maritime tourism in recent years and we’re beginning to reap the rewards. That said, there’s more to come, as the government has a target number of berths to hit before 2023," said Julian Walker, director at Spot Blue International Property.

Mr Walker also went on to say that there are a number of different resorts in which Turkey is starting to see growth thanks to the popularity of marine tourism, which is a positive compared to the somewhat stagnant market it has seen in recent times wherein only a few places were seeing any sort of growth at all. "Areas such as Bodrum and Göcek have become highly fashionable hang outs for the world’s sailing jet set, who attract chic restaurants and boutique shopping, as well as higher property prices. Istanbul’s hosting of the World Marine Conference in June this year will raise awareness of Turkey’s world class marinas even more," he added.

And it is not just foreigners that are helping to prop up the market at the moment either, with more affluent Turkish investors looking to make purchases of these types of homes on the coast. The fact Turkish buyers are becoming more mobile again is indicative of the rebirth of the market currently.

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