Turkey has a great deal to offer investors, land prices are still affordable and construction costs are one of the lowest in Europe. Over the past few years the Turkish construction industry has been heavily influenced with the introduction of construction methods brought in from countries such as the United Kingdom, France, Denmark and other countries with more closely regulated building codes. Until recently Turkey was relegated to the lower end of acceptable building standards, with mortgages unavailable in the country, those fortunate enough to have the cash to buy a home of their own have been prepared to accept a quality that would see many buildings condemned in other parts of Europe.

Foreign construction companies are introducing standards of both build, and finish, that has not previously been seen in Turkey, these standards will rapidly become the norm for the industry. The climate in the Antalya region provides for a ten month summer season, this is ideal for those looking for a second home or a property to service holiday lettings. With some question over the viability for foreigners to buy in Turkey, the market has slowed somewhat, however, the government have now made it clear in a white paper to be released very shortly, that foreigners will be welcomed and purchase will be simplified for foreigners, with a few exceptions.

There are few areas throughout Turkey where the immigrant population has outweighed the native and in such areas there are now limitations for further sales to foreigners. This is not a bad thing as it will serve to open up regions previously unexploited, regions which offer the same natural resources, beaches, mountain views and history, as the more favoured regions to date. It is not merely the climate which attracts foreigners to Turkey, the gastronomy is pleasing and acceptable to most tastes, the Turkish people are friendly and accommodating, few countries can offer the opportunity of winter sports in the mountains in the morning and sunbathing on the turquoise kissed shores of the Aegean or Mediterranean in the afternoon. There is a down side, isn’t there always, the down side is the prohibitive cost of imported goods, in particular luxury goods, cars, electronics etc., but Turkey has her own produce which is as good as anything you could buy elsewhere. Food is inexpensive and the variety is vast, the quality of fresh produce is better than most you will find anywhere else in Europe.

Many ask how safe the legal system is in Turkey, the answer is simple, it has one of the best records for fair and appropriate legal representation in Europe. Most transactions are conducted by a registered Notary with little need for a formal lawyer or Solicitor, although the option is there for those who feel more comfortable using an accredited legal representative. Most legal transactions are conducted at the Public Notary with an official translator present, of course the translator’s fees are charged to the client but this does provide the peace of mind in knowing exactly what you are signing before you do so.

For the first time now mortgages in Turkey are available secured against the property itself, as opposed to previous requirements for collateral to be secured against alternative assets. For foreign buyers this previously requirement a loan secured against your property back in your country of origin, a risk that few people would contemplate. Now however the mortgage is secured against the Turkish property itself, combined with more competitive interest rates the opportunities are beginning to gather pace in this vast, untapped market.

For advice on buying Turkish realty and/or researching your mortgage options, speak to Pasha Realty in Mediterranean Antalya - Turkey Property.