At a Glance: Turkey
Property buyers prefer to eat Turkey in Mugla, according the latest At a Glance infographic from TheMoveChannel.com. The infographic, based upon activity on the overseas property portal from the last 12 months, shows that the region of the country awakens investors´ appetite, attracting over one-third of enquiries since June 2011.
The second most popular province was Istanbul, which received 26.77 per cent of Turkish property enquiries, but while the area around the capital is popular with investors, the coastal areas in the South West are the most in-demand, with Antalya and Aydin attracting 18.55 per cent and 17.21 per cent respectively.
The same is true of buyer search activity on TheMoveChannel.com, with the cities of Mugla and Istanbul accounting for over 25 per cent of searches by location. The Mugla province continues to dominate here too, accounting for five out of the 10 most searched-for places thanks to resorts such as Fethiye and Hisaronu.
Indeed, tourism drives a lot of buyer behaviour, with airport hub Dalaman as popular with buyers as the vacation hotspots Altinkum, Antalya and Didim. The chart shows an overwhelming preference for these areas, colouring the South West coast red and leaving most of Turkey completely untouched; an indication not just of buyer demand but the striking lack of sellers in the East of the country looking to sell property to overseas investors, particularly those from the UK.
As a result, the areas where demand exists clearly stand out on the infographic. Istanbul in the North looks especially bright, generating lots of interest due to high housing demand, prime office supply and an active student accommodation sector. Compared to the capital, the chart´s other red areas show the second main market for international buyers: holiday homes.
The infographic also analyses search behaviour on Google over the last 12 months. While “property in Turkey” is consistently the most commonly-used phrase to find Turkish real estate online, it is interesting to note that – for the first time in TheMoveChannel.com´s At a Glance series – “villas for sale” occur in more property searches than “houses for sale”, marking out Turkey as a different real estate market from many other countries.
Editor Ivan Radford comments: “Turkey´s infographic provides an extreme contrast to the other, more traditional, lifestyle destinations we have depicted so far: the overseas market appears centred on a handful of key areas, almost entirely located in the one corner of the country.
“But while the gaping white space may seem a damning portrait of one of the world´s fastest-growing economies, the infographic perhaps reveals something else: a market ready for change. Turkey´s updated investment laws, announced last month, have opened up the country´s real estate to a whole new audience of buyers in 89 countries across the Middle East and Asia. In a year´s time, who knows how much more of that map will be glowing red?”
Click here to see the full infographic.
Notes to Editors
Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
The website address is http://www.themovechannel.com and the office address is 24 Jack´s Place, Corbet Place, Spitalfields, London, E1 6NN.
Contact Dan Johnson on 0207 952 7650 for further information.