Holiday Property in Turkey
The newest movement that has occurred as a result of the liberalization of real
estate ownership laws in Turkey is the advent of foreign nationals making the purchase
of residential properties to be used for vacation purposes. (More information about
the liberalization of the laws governing the foreign ownership of real estate is
With Turkey's entry into the EU, a growing number of Europeans are examining the
country as a location for holiday travel. Historically, Turkey was not particularly
a destination of choice when it came to holiday travel by Europeans. Generally,
the same was true for tourists from many other locales around the world.
However, in recent years, more and more foreign nationals have marked Turkey as
a definite tourist destination. In addition, Turkish governmental officials as well
as business and civic leaders have taken strong steps towards promoting Turkey as
a travel and holiday destination.
Because of this movement, a notable number of men and women are now purchasing vacation
residences in the form of apartments, houses
and other types of villas in Turkey. For the
first time, some foreign nationals are purchasing residential property in Turkey
that they are using for their own travel needs.
In turn, these same people are then turning around and letting these residences
to other people during those times of the year that these foreign owners are not
using these properties for their holiday purposes. In short, many foreign investors
are now taking the initiative to turn their own vacation properties in Turkey into
profit generating enterprises.