The Land of Opportunity

With it's Mediterranean climate, friendly people, low cost of living, cheap flights from the UK and an impressive and constantly improving tourism infrastructure, it's no surprise avid investors are flocking to Turkey to invest in property.

The obsession, if you will, with the property industry amongst Brits is down to a range of factors, including the first-time buyer crisis, the increasing lack of available housing, meanwhile it's fuelled by the over-riding need amongst Brits to get out of the rat race and away from the rain by visiting warmer climes and relaxing in the sunshine.

Property overseas is a hugely popular subject, with the much used 'what do you do for a living?' introductory question being increasingly replaced by 'so what does your property portfolio comprise?' in dining rooms across the country. The popularity can only be substantiated by the many property programmes broadcasted time and time again, property magazines noticing a higher circulation and property experts becoming everyone’s best friend.

The tourism market in Turkey is increasing year after year, with 19 million visitors in 2006, and at least 25 million expected to visit in 2007 as the Turkish government continues to invest a huge amount of revenue into the tourism infrastructure. Marinas, golf courses and town and city centres are all getting the tourism treatment, continuing to establish Turkey as a favourite holiday destination for literally millions of people.

The general view of Turkey as being dirty, Islamist and prone to terror attacks dented investor confidence in the country, but those looking past the unjustified hype have done themselves a favour. Those who have invested in property already can expect their investment to increase by 10-15% in 2007 alone, thus explaining why Turkey is host to the highest concentration of UK buyers outside of western Europe.

Not only can overseas property investment offer an escape from the daily rat race, it can also offer a solution to the current first-time buyer crisis that features almost daily in the media. With many young professionals being increasingly priced out of the UK property market, first time buyers are looking further a field to get their feet firmly onto the proverbial ladder.

Many people seem to be surprised that £25,000 can buy you a decent apartment in Altinkum on a development with a communal swimming pool with pool bar and Jacuzzi, however this may be just the answer for the twenty-somethings who have reasonable savings and the potential to obtain a loan for the remaining amount.

The property can then help to pay for itself through rentals, especially over the summer season, and increasingly into the winter season as Turkey continues to establish itself as a popular golfing destination.

Third age couples invest in property in Turkey, to escape with their children and grandchildren, with a view to move out there in the future. Moving out to Turkey can release capital in the family home, offering a further solution to the first time buyer crisis many families are facing.

However, investing in overseas property isn't all roses, sunshine and happiness, as many past investors have been stung by not being as careful and prudent as they would have been were they purchasing property in the UK.

It is vital that all documents are checked over by a solicitor, and ensure that the agent you're buying from has links with an English speaking lawyer who has experience in real estate, and is aware of the potential pitfalls associated with purchasing property. Bear in mind the 'hidden' costs, such as tax, the agency fee, furniture for the property and so on. If you follow these top tips, and approach overseas investment as you would a property in the UK you should be absolutely fine.

Find your very own spot in the sunshine from these available properties:

Properties available for sale in Turkey include:
• Apartments starting at £20,450 on a development in Altinkum, which offers one of the largest communal pools in the area complete with pool bar and a fully-equipped fitness centre
• Apartments on a development in Gulluk, on Turkey's Aegean coast, starting at £36,450, which includes furniture and stunning sea views as standard
• Duplexes built to a high standard, with two en-suite bedrooms and an open-plan kitchen, living, dining area, starting at £55,000
• A recently completed villa in Altinkum, with open plan living and kitchen area complete with fitted units. The two patios look out over the private pool, and one even has a fitted BBQ. Priced at £110,000