Turkish housing market has best moment in 25 years
Monday, September 15, 2008
The Turkish housing market is currently stronger than it has been for 25 years as new figures revealed that over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas.
Market commentators tipped that Turkey has the potential to be one of the most profitable markets for investment during 2008, despite the predicted global credit crunch. Moneycorp has revealed that Turkey is continuing to attract massive levels of interest from investors in places such as the UK. The foreign investment in Turkey has continue to soar which shows that it has achieved the international trust and is set to see an huge influx of overseas investment in the future.
International Herald Tribune has reported that the recent changes to laws of purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector. Government has lifted the ban for overseas investors from acquiring real estate in the country. Liam Bailey, global markets expert at Property Wire has said that the inheritance tax in the country is also relatively low, ranging from one per cent to ten per cent.
Turkey is an emerging market which offers very competitive house prices and it is fairly easy to pick up a home in the country for less than £50,000. However, house prices in Turkey are going up at a rate of about seven per cent per annum which means investors who buy early could benefit from capital appreciation.
Social BookmarkingMarket commentators tipped that Turkey has the potential to be one of the most profitable markets for investment during 2008, despite the predicted global credit crunch. Moneycorp has revealed that Turkey is continuing to attract massive levels of interest from investors in places such as the UK. The foreign investment in Turkey has continue to soar which shows that it has achieved the international trust and is set to see an huge influx of overseas investment in the future.
International Herald Tribune has reported that the recent changes to laws of purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector. Government has lifted the ban for overseas investors from acquiring real estate in the country. Liam Bailey, global markets expert at Property Wire has said that the inheritance tax in the country is also relatively low, ranging from one per cent to ten per cent.
Turkey is an emerging market which offers very competitive house prices and it is fairly easy to pick up a home in the country for less than £50,000. However, house prices in Turkey are going up at a rate of about seven per cent per annum which means investors who buy early could benefit from capital appreciation.
Labels: Investment-property, Market-Trends, Turkish-property
