Richard Way, editor of The Overseas Guides Company, explained that Turkish property is drawing in buyers thanks to its strategic position."Outside the uncertainty of the eurozone, strategically located between East and West and enjoying economic stability, Turkey is intensifying its campaign to attract more foreign homeowners and residents to its shores," he said. In 2013, the government has also made it easier for foreigners to visit the country and purchase property. It has recently announced plans to grant one-year residency to all people from overseas that buy property there. This is a welcome increase on the previous three-month permit offered.
"While British people historically have had little difficulty obtaining residence permits in Turkey, Middle Eastern and other non-European nations have not always found it easy – this new legislation will be especially attractive to them," Mr Way explained. He added that travel to the country has also become easier, thanks to a new system that allows tourists to obtain a tourist visa online. The e-visa will replace the sticker and stamp-type visas currently in use.This means the number of holidaymakers heading to the country will no doubt increase - good news for the holiday let market.
Investors can also celebrate eased restrictions on the sale of land and real estate to foreign citizens and companies. The abolition of the reciprocity law has opened up new markets for the property sector and the country is already beginning to feel the benefits. With all this positive activity, Mr Way is eager to see what the future has in store for Turkey, especially if Europe continues to remain in the doldrums over the near-term.