2011 is a promising year for overseas property, but within that a potentially huge year for Turkish property
In 2010 sales of Turkish property to foreigners increased by 40% compared to 2009 according to the Association of Real Estate Investment Companies (GYODER). Given the turmoil of 2009 this seems a little less important than it sounds, however, this took total sales to $2.5 billion, which is almost as much as the $3 billion in sales achieved in the 2 years 2006-2008.
The Turkish economy is booming, and this is partly because of the fact that the tourism market has seen continued growth, even during the downturn with 28.63 million received in 2010, up from 26.336 million in 2008, and 27.077 million in 2009.
Growth in tourism, combined with the low prices of Turkish property is continually increasing its appeal to buyers from around the world, and Fethiye continues to be one of the most popular locations to buy.
On top of that, with a budget deficit of around 2%, inflation at a 41 year low and a solid record for paying down public debt, the Turkish economy is also one of the world’s most stable, especially within Europe.
Because of this, and especially the dire state of affairs in many of Turkey’s main competitors such as Greece and Spain, the Turkish property market flourished in 2010, and is expected to do even better this year.
Fethiye is one of Turkey’s top touristic towns in its own right, with an abundance of shops, restaurants and bars, not to mention the great beaches and fantastic climate 300 days of the year.
But its ace up the sleeve is its proximity to Olu Deniz, which is 20 minutes away by car. Olu Deniz is a coastal resort so beautiful that its beauty is government protected because of its touristic appeal. As such property here is rarely available for sale or rent, leaving those wishing to sample its delights to look at nearby towns.
Fethiye, Hisaronu and Ovacik are the most popular choice because they is also just around 45 minutes from Dalaman, with its well served international airport.
With sales of Turkish property expected to soar even higher this year, it is logical that sales of Fethiye property will also do extremely well in 2011.