Turkey's buy-to-let market is set to grow in 2009
Friday, February 13, 2009
Owners of rental accommodation in Turkey could be set to see a surge in demand over the next few months, according to an industry expert.
According to Giovanna Gentile, the PR executive of Atlas International said that the buy-to-let market in Turkey is currently very strong and the numbers of developers in Turkey are offering rental guarantees with the projects. She added that More than 26 million tourists visited Turkey in 2008. She cited the The Hurriyet Daily News reports which stated that the growth rate in the Mediterranean country was 13 per cent last year, compared with two per cent globally.
Ms Gentile highlighted the Bodrum peninsula, Altinkum and Didim as hotspots for British investors to look at. Antalya and Fethiye areas on the south Mediterranean coast are also recommended for "low cost of living and friendly locals". Since many Brits are feeling the effects of the credit crunch and rising living costs, they are increasingly opting to visit places which have the most favorable exchange rates. More and more consumers in the UK are booking trips to Turkey as it is considered to offer better value than other European countries.
With its consistently warm weather, fabulous beaches and increasing interest from European travelers looking to make the most of their currency, rental property owners who let out their residences to visitors will find that their services will be in much greater demand, leading to them receiving higher rental returns as a result, reports Property Wire.
Liam Bailey, global markets expert at Property Wire, commented: "Investors thinking of purchasing a rental property in Turkey may be able to look forward to healthy yields as booming tourism means the eight per cent average rental yield can easily be exceeded."
Social BookmarkingAccording to Giovanna Gentile, the PR executive of Atlas International said that the buy-to-let market in Turkey is currently very strong and the numbers of developers in Turkey are offering rental guarantees with the projects. She added that More than 26 million tourists visited Turkey in 2008. She cited the The Hurriyet Daily News reports which stated that the growth rate in the Mediterranean country was 13 per cent last year, compared with two per cent globally.
Ms Gentile highlighted the Bodrum peninsula, Altinkum and Didim as hotspots for British investors to look at. Antalya and Fethiye areas on the south Mediterranean coast are also recommended for "low cost of living and friendly locals". Since many Brits are feeling the effects of the credit crunch and rising living costs, they are increasingly opting to visit places which have the most favorable exchange rates. More and more consumers in the UK are booking trips to Turkey as it is considered to offer better value than other European countries.
With its consistently warm weather, fabulous beaches and increasing interest from European travelers looking to make the most of their currency, rental property owners who let out their residences to visitors will find that their services will be in much greater demand, leading to them receiving higher rental returns as a result, reports Property Wire.
Liam Bailey, global markets expert at Property Wire, commented: "Investors thinking of purchasing a rental property in Turkey may be able to look forward to healthy yields as booming tourism means the eight per cent average rental yield can easily be exceeded."
Labels: Holiday-property, Rentals
