Purchasing property in Turkey : an analysis of motivations and constraints for British consumers

Acar, B

Abstract

The market for second home purchases abroad has grown rapidly in the last fifteen years
because of the growth in demand from Europeans looking for a place in the sun. Turkey is
one of the most popular European countries in which to purchase a second home and the UK
is its largest geographic market segment. Despite these developments, second home
purchases have hitherto been neglected in the tourism academic literature. This study
attempts to address this gap in our knowledge by investigating second home purchasing in
Turkey by UK residents. In particular, it examines the motivations and constraints of British
consumers, using a mixed method approach consisting of semi-structured interviews with
estate agents, developers, potential buyers and property owners and an e-questionnaire survey
of property owners and potential buyers. A wide range of statistical procedures and tests were
used including exploratory factor analysis and hierarchical multiple regression.
Significant differences were found between the motivations and constraints of property
owners and potential buyers. They were also differentiated in terms of both the length of time
they spent searching for property and the types of properly considered and purchased. The
findings highlight the changes in the demands of British consumers and the fashions in the
Turkish property market over time. Significant differences in both property owner and
potential buyer motivations and constraints were also found and on the basis of respondent
socio-demographics, geographic area and destination of purchase/potential purchase and
property type. Another key finding was the identification of three distinct market segments:
holiday, retirement and investment. The results also show that these segments are
significantly differentiated on the basis of socio-demographics, motivations and constraints.
Length of property occupancy and the destinations considered and/or purchased are also significant differentiating variables. Segment profiles were developed on the basis of these
characteristics. The study's contribution to the tourism literature and the practical implications
of the findings are discussed.

• Thesis Type: Thesis
• Deposit Date: Jul 27, 2021
• Award Date: Aug 1, 2012