Low Cost of Living Fuels Property Investment in Turkey

Surprising economic data has been emerging from Turkey over the past few weeks with various industry reports revealing interesting facts and startling statistics such as the fact that Turkey’s cost of living has dropped despite a fall in the value of the Turkish currency, and senior managers working in Turkey earn the highest real pay levels in the world…

Therefore the fact that you can live cheaply and earn a good salary in Turkey is actually fuelling an influx of overseas property investors who are interested in investing, living and working in Turkey as its economy emerges and the country’s world status improves.

It’s long been known that the low cost of living in so called ‘second world’ countries such as Turkey, Mexico and Belize has attracted retirees and those looking for an affordable lifestyle in a desirable location. 

Until very recently Turkey’s real estate market was being heavily fuelled by just such a market – senior buyers were the main people buying up resort properties along Turkey’s coast with the majority of purchasers coming from mainland Europe and looking for a home to live in rather than a property to profit from.

As word got out about the low cost of property for sale and the desirability of Turkey as a top holiday destination, so the numbers of speculative investors grew and now that word is spreading about the low cost but high standard of living achievable in Turkey, more buyers are entering the market looking for property for sale in which to retire or start a brand new life overseas.

As Turkey aligns itself for EU accession and welcomes greater international financial commitment in the form of investment into industry and business so it is beginning to attract international professionals lured by the fact that their salaries in Turkey will go far further in real terms than they will elsewhere. 

Turkey is becoming recognised as a culturally superior and employment rich location for international managers and skilled professionals who enjoy the fact that they can have a better standard of living for less, own a property for cash and enjoy a great life in Turkey on a lower salary that relatively speaking goes far further than that achievable in any ‘first world’ economy. 

An extensive report compiled by the global management consultancy Hay Group into world pay puts Turkey at the top of the list and heralds its emerging economy as a buoyant new economy.  The economic advancements and developments in Turkey are hugely positive at the moment and the world is watching and capitalising particularly by investing into property in Turkey in the main centres and resorts where the demand for rental and resale is intensifying.

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