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Traditionally people from Britain, Germany, Holland, Sweden, Denmark, Belgium and many other European countries, seeking a home in the sun, have bought residential property in the established Mediterranean resorts of countries like Spain, France and Italy.
However, many of these destinations have, over time, become saturated with large populations of expatriates and accordingly property prices continued to rise to meet the burgeoning demand.
Owning a property or holiday home in many Mediterranean countries can now prove to be a very expensive undertaking indeed. Discerning Europeans therefore started seeking other alternative Mediterranean destinations.
Turkey, once an almost unknown holiday destination, is now topping the list of preferred alternative Mediterranean residential overseas destinations and is today riding the wave of a spectacular property boom in the Mediterranean and Aegean coastal resort areas.
So what's drawing thousands of Europeans to buy residential homes, holiday homes, land and businesses in this previously 'undiscovered' country Why investing in Turkey, Turkey is where the two continents of Europe and Asia meet.
It's a unique country with a culture, history and outlook unlike any other. With borders on the Aegean Sea, Black Sea, and Mediterranean and Marmara Seas Turkey has a huge resource of beautiful coastal locations that draw tourists and foreign property buyers like.
Turkey is a very popular holiday destination with its turquise cost line, the Mediterranean maritime climate and has a fast growing economy, making it a very interesting country to invest in. In 2005, more than 21 million tourists visited Turkey and more than 25 million tourists are expected to visit Turkey in 2006. This figure is expected to double within the next few years.
Ongoing development projects include the continued expansion of resorts, more international congress centres, golf courses and golf resorts, health tourism centres, road, airport and infrastructure improvements and a huge programme for the expansion of Turkeys' winter tourism facilities. In addition to expanding its tourism industry Turkey also started full EU-membership negotiations in October 2005 and is well on its way to becoming a full EU member country.
Turkey is also one of the few OECD countries where the cost of living is still relatively low and inflation is in single digit numbers. Turkey has one of the fastest growing economies in the world. The average growth rate is well comparing many OECD countries, showing a dynamic and growing economy.
The World Trade Organisation states that Turkey is among the most dynamic 20 countries in the world trade. Another huge plus point for Turkey is that the Turks are still outstandingly warm and hospitable to their overseas visitors.
Compared to other Mediterranean resort countries tourists in Turkey aren't taken for granted and the enthusiasm of the locals when greeting overseas visitors remains mostly fresh and sincere.
For foreigners taking up residence in the resort towns they invariably find a warm welcome into the local community. According to the Constitution, the characteristics of the Republic of Turkey are defined as a democratic, secular and social state governed by the rule of law.
The concepts of public peace, national solidarity and justice, respect towards human rights, and loyalty to the ideals of the founder of the Turkish Republic, Mustafa Kemal Atatürk, produce a country and State that strives hard to be equitable to all residents regardless of their religion, social background, ethnicity, gender, or culture. The weather along the coastal regions of Turkey is another benefit for both tourists and expatriates with long, hot summers, stretching from March to November, warm autumn weather and in the western coastal regions mild winters. In addition there are countless attractions for tourists and residents alike.
Stunning unspoilt countryside, superb beaches, exciting outdoor and entertainment activities, sports of every description, modern shopping malls, and lots of sightseeing and historical places of interest.
Turkey is one of the hotspots in the overseas property market. Since Turkey's economy is booming, inflation is dropping very rapidly and government, banking and other sectors are preparing for entering the EU, this is making ideal time to invest in Turkey.
The attractions of Turkey are almost unlimited and at this relatively early stage of the growth of its tourism and foreign residential property markets Turkey has its arms wide open to prospective buyers.
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