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Interest in property in Turkey growing
The number of foreign residents owning property in Turkey has risen past the 62,500 mark for the first time, writes David Fuller.
According to a report carried out by the Alanya Chamber of Commerce and Industry, Syrians currently rank first in terms of overseas residents who own property in Turkey, although this may not stay the case for too long. The report states that between January 7th and July 24th 2006, 6,053 foreign nationals brought property in Turkey, with 1,876 of these buyers hailing from the UK - the most from any country. Other Western European residents, including those from Ireland, Germany and the Netherlands also purchased Turkish properties in their droves in this period.
While many of the overseas buyers purchasing property in Turkey choose to do so on the country's Aegean or Mediterranean coastlines - the Antalya Province, which includes popular resorts like Side and Alanya, is particularly popular - it is in Istanbul where the largest concentration of foreign-owned properties are.
"Undoubtedly Turkey, and in particularly Istanbul, is one property market to keep a close eye on", says Jonty Crossick of Ready2invest. "We are starting to see significant growth in a market that is still new to most Western Europeans."
Ready2invest is currently marketing the Dome Residence in Istanbul, a development of hotel-style one-bedroom apartments for £54,651 in the Tasdelen area which offers good access to the centre of the city.
However, should you be looking for a slice of laid-back coastal living rather than big city slicking, then a new development of stone houses in Antalya may be more to your liking.
The Antalya region is often referred to as the 'uncovered Mediterranean' and is set to become one of Turkey's hottest holiday destinations", enthuses Susan Pelekanou of Islands Blue.
Part of this new development is the Pine Hill resort (pictured) in the small village of Seki, close to Side. Currently under construction and due to be completed in August 2007, this resort, marketed by Islands Blue, is made up of six four-bedroom, four-bathroom villas, with prices starting from £175,000.
But no matter where buying property in Turkey catches your eye, with interest in the country such as it is, it may not be too long before the number of foreign property owners in the country tops 100,000 - with British purchasers fuelling the fire.
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Read other articles about Turkey:
Mortgages could see Turkey property prices soar
How and where to buy property in Turkey
New Altinkum Turkish property development
Turkish property: Reasons to be positive
Article first published on 30 October 2006


