Turkish Property prices stabilize in Antalya sparking new investment opportunity

Posted on 16/02/2007 By Carol McDonald Categories: Buy property overseas

Antalya, long known as the capital of Mediterranean Turkey, is a favourite spot for foreigners looking to buy or rent property in Turkey. Last year over six million tourists from 160 countries visited this city on Turkey’s southern coast. It has an ideal location overlooking the Mediterranean Sea, a modern, international airport that makes it easy to get to, and a climate with over 300 days of sun each year. In addition to all of this, there are any number of things to keep visitors and property owners happy, from the beaches and the mountains to the numerous archeological sites.

After several golden years of premium prices, house prices in Antalya have started to drop this year, noted Cem Oguz, the head of the Chamber of Civil Engineers in Antalya. Property sales virtually came to a halt in 2006 because of high prices, Oguz said in a report from the Anatolia News Agency. For those overseas investors who want to purchase property in Antalya and the surrounding area, this is great news, as the falling prices are making it a reasonable place to invest once again. Over the long term, as more travelers seek to take advantage of its ideal location, property in Antalya should continue to be a good investment.

Both the Turkish government and private investors are investing heavily in this area. A new cable railway car that is currently being finished will enable visitors and residents alike to have a unique experience – skiing on snow in the morning and sitting on the beach in the afternoon! The Tahtali Aerial Cableway, which travels from the town center of Kemer to the peak of 2,365m Mount Tahtali, is set to be completed in 2007. This is just one of the many developments that are making this area one of the favorite spots for foreign investors in Turkey. Along with the increased development in the area, the Turkish Ministry of Culture and Tourism has initiated a campaign to increase tourism throughout the country in 2007.

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