People planning to buy property in Turkey may be interested in new figures that have revealed that foreign investment in Turkey has grown considerably over the past five years.

According to new figures, over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas. The changes in the Foreign Direct Investment Law allows foreign companies and individuals to buy bigger chunks of property, thus boosting demand even further. In some parts of the country electricity bills come with an English translation as so many foreigners have now bought property in those areas.

According to Aston Lloyd, Turkey offers very competitive house prices which means investors who buy early could benefit from capital appreciation as in the last four years, house prices are going up at a rate of about seven per cent per annum. He also added that it is fairly easy to pick up a home in Turkey for less than £50,000.

According to Hisham A Rahman Khalifa, investment banking manager at Shamil Bank, in an interview to the Gulf Daily News, house prices in Turkey have gone up consistently since 2002. He added that Antalya and Istanbul are two of the best-performing markets in Turkey, as they have seen more foreign investment in recent years.

Labels: Investment-property, Turkish-property