Buy-to-let investors with properties in Turkey could be tempted to try and cater to the luxury holiday market following recent comments from the Turkish Culture and Tourism Office. Recent reports suggest that the country offers a diverse environment for adventure travellers is only likely to serve to enhance its reputation.
According to Comments from the Turkish Culture and Tourism Office, holidaymakers take the time to explore Turkey. Tourists are able to take advantage of some 8,000km of coastline offering some of the best water sport opportunities in Europe. The country also has snow-covered mountains, which are easily reached from the coast and visitors can spend an afternoon of skiing on Tahtali - the venue having been reached by cable car - after a morning spend in the beaches nearby.
Joanna Marsh, PR co-ordinator for the Turkish Culture and Tourism Office commented: “The combination of long, sandy beaches, world-class golf courses - and the fabulous Mediterranean climate makes this one of the fastest growing tourism destinations. Alacati, on the Cesme Peninsula, is a world-class windsurfing destination; Kas down on the Mediterranean coast boasts excellent visibility and is a must-visit for scuba diving enthusiasts; whilst the Turquoise Coast, comprising Fethiye, Bodrum and Marmaris is the ideal spot for sailing and gulet cruising."
The news could prompt a number of potential rental investors to look at acquiring buy-to-let property in Turkey in order to take advantage of the growing tourism market. "There are also good flight connections from most major European cities. There are frequent direct flights From the UK, with Turkish Airlines and British Airways as well as low-cost carrier’s easy Jet and Pegasus," Ms Marsh added. The General Directorate of State Airports Authority of Turkey (DHMI) has stated that in Air travel in Turkey reached new heights in 2011, as Turkey’s 45 airports handled over 118 million passengers in 2011, recording a 14.4 percent increase when compared with 2010. Moreover, the data from Turkey’s Ministry of Tourism and Culture revealed that Turkey attracted 31.4 million foreign visitors in 2011, posting an increase of 9.8 percent as compared to 2010.
According to the latest REIDIN.com Turkey Residential Property Price Index, Rental income has climbed across the country, which may be good news for investors hoping to let their real estate assets. The value of existing homes has increased by a 7.33 per cent. Izmir, Adana and Istanbul are the top performing destinations based on the monthly data, while Adana, Ankara and Istanbul saw the greatest price growth. The top-performing destinations for rent rises in 2011 were Antalya, with an 8.64 per cent increase, followed by Izmir and Istanbul, with increase of 7.25 per cent and 6.83 per cent respectively. Rental growth was also posted in almost every location surveyed, with Adana the only place where rents were constant. With the Holiday Lettings' Insights Report recently highlighting the country's popularity as a holiday destination, it appears that Turkey may continue to be a good place for rental investors.