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Record 32,000 Britons now own property in Turkey
According to the latest data released by the Turkish General Directorate of Land Registry, demand for Turkish property is not showing any signs of slowing with a record 32,000 Britons now owning property in the country
The last couple of years have seen interest in second homes especially along the Aegean and Mediterranean coastlines swell with foreign investors purchasing twice as much property than they did in total over the past 79 years since the founding of the Republic, the data reveals. European buyers in particular have been attracted to Turkey due to the affordable property prices, low cost of living and direct access from the UK.
Steven Worboys, MD of Experience International, , comments “We have certainly seen the Turkish property market go from strength to strength. Overall, the number of foreign property buyers has increased by nearly 30%, from 73,000 in 2008 to 104,000 today with the British market accounting for the largest group of buyers.”
Over 63 million sqm of property, classed as ‘immovable assets’ by the Turkish Land Registry, is owned by foreigners with Britons possessing the largest amount at 6 million sqm, followed by the Germans at 3.5 million sqm and Greeks at 3 million sqm.
The province of Muðla, located in the south-western corner, on the sublime Aegean coast, has proved a particularly sought-after destination with almost 5.5 million sqm of immovable assets owned by foreign nationals.
As Worboys remarks “Muðla province, home to the popular towns of Bodrum, Marmaris and Fethiye, encapsulates everything that foreign buyers desire; it’s no wonder that over 14,000 Britons own property here. Crystal clear waters, golden sandy beaches, international airports allowing easy access, solid infrastructure and plenty of amenities on hand, not to mention affordable, spacious properties built to the highest standards - it has something for everyone.”
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