Buy to let market explodes in turkey

It's no longer exactly a secret destination off the European tourist trail, but visitor interest in Turkey just keeps going up. Istanbul's Sabiha Gocken Airport, destination of most of the low-cost carriers' routes into the country, saw a huge 27.3% increase in arrivals for January. 

With a mild year-round climate, rich cultural offerings and low accomodation and transport costs compared to popular surrounding destinations like Greece, Turkey is becoming the go-to destination for the European middle class. Certainly here in the UK, it's rare you don't hear of someone around your table in the pub these days talking about their recent trip to Istanbul. 

That's probably why international accounting giant Price Waterhouse Coopers has named it the top pick for real estate investment worldwide in 2011. Speculators are expecting a 'buy to let explosion' in the Turkish real estate market over the coming year, as investors particularly look to get in before Turkey joins the EU and prices go up. 

"Turkey has one significant advantage over its neighbour: it isn't part of the eurozone", said the Telegaph's Sophie Butler in a recent editorial. "Over the last two years, the Euro has strengthened, while the lira has dropped 20 per cent against the pound. In short, for value and variety, Turkey is unbeatable."