Didim

The saturation and high prices of the European property market has directed buyers to the Turkish property market.

Research carried out in 30 OECD countries revealed that Turkey ranks fourth with cheapest prices. According to the comparative price levels, Switzerland, Denmark and Norway appeared to be the most expensive countries while Turkey is among the least expensive, followed by Slovakia, Czech Republic and Poland.

Basak Soner, a Board Director of TURYAP, stating that currently Turkey is a haven for foreigners, said: "Turkey’s traditional competitors Greece and Spain rank among the expensive countries. A product which costs 100 units in Turkey, is priced 155 units in Greece and 160 units in Spain.”

Cheapest properties are in Turkey

Using a comparison of sales data on properties with similar characteristics best explains why Turkey is a haven for foreigners. According to date gathered by TURYAP, a 3+1 detached house costs 570,000 Euros in Spain, The UK and Greece, 430,000 in Germany, 380,000 in The USA and 300,000 in France, while in Turkey it only costs 100,000. Experts agree that property in Turkey would increase in value, and state that the trend of investing in properties is "the most appropriate and profitable investment" for any foreign investor.