Why Property In Turkey Is Still A Good Bet
If you’re an expat living in Turkey, you’re probably used to jokes from friends and family “back home” about the necessity for flak jackets and bomb shelters.
The popular world perception is that it’s on the edge of a war zone so surely most folk must live their daily lives dodging bullets and missiles – something perhaps exacerbated by the country’s leaders insisting that the nation’s borders are under constant threat from a terrorist organisation bent on the country’s destruction.
But while it’s true both America and Russia have assisted Turkey recently in its controversial bid to purge northern Syria of separatist Kurds (albeit in different ways) life across the rest of the nation has carried on much the same as ever.
Operation Peace Spring
There have been outpourings of patriotism of course as Turkish troops crossed the border to begin Operation Peace Spring. It’s certainly true that towns, cities and communities within range of the fighting have not been left entirely unscathed either.
But, hundreds of miles away in Istanbul and Ankara, along the Black Sea, the Aegean and western Mediterranean coastlines, you would barely be aware of any conflict at all.
There are no doubt conversations about the military operation in tea rooms, barber shops and bars – particularly among those who have fathers, sons or brothers involved.
But those same tea rooms, barbers and bars – indeed by far the majority of shops, offices and businesses across Turkey – are open for business as usual. So are the bus stations, the airports, the council offices, the hospitals and schools.
A lucrative market?
It’s true Turkey’s proximity to the instability and confusion in Syria is bound to have an effect but why should it be any more than the tortuous Brexit process has had on the UK or the Trump years have had on America’s reputation as the leader of the Free World?
In fact – at least from the viewpoint of an overseas investor – Turkey remains a potentially lucrative market.
The weaker Turkish lira means the US Dollar, the Euro and Pounds Sterling are going quite a bit further than they did five years ago and that means some pretty decent properties – complete with gardens and swimming pools – are now within reach of even a modest budget.
Last year, the government also reduced the threshold for those who qualify for Turkish citizenship through property investment from $500,000 to just $250,000 – prompting a surge in foreign buyers.
But that was then and this is now and, if truth be told, there are some real bargains out there which are going begging; not because there is a real and present danger but because there is a perception of one.
In the pound seats
In short – particularly if you’re a canny buy-to-let investor – a property purchase in Turkey right now could be a lucrative move.
We’d stop short of a cast-iron guarantee of course; there are just way too many factors which can influence property prices for anyone to be absolutely certain.
But, if and when stability returns to the northern Levant, anyone with money invested in property in Turkey could be in the pound seats if they wanted to sell or – at the very least – finish up with a foothold in one of the most historic and beautiful parts of the world.
It’s up to you …
However, if you would like some help or sound, down-to-earth advice on starting a new life in Turkey, we’re here to help not just in finding the right property but with the logistics and paperwork involved in relocating.
If you have any questions or would like to know more about any of the properties in our portfolio in Turkey, why not drop us a line or give us a call?
You may also be able to find what you’re looking for on other pages of our website where you can read advice on how to obtain a Golden Visa in Portugal, a Golden Visa in Spain, how to qualify for citizenship in Turkey or to obtain a Golden Visa in Greece.