Turkey vs. Greece which is better for buying property?
Tuesday, March 24, 2009
Turkey is a more financially viable option than Greece for investors seeking to buy property and also for the tourists, it has been reported.
Paul Collins, property editor of BuyAssociation, has stated that Turkey is "significantly" cheaper than Cyprus Property or Greece or elsewhere in the Mediterranean. Mass tourism is a promiscuous business and the summer destinations such as Turkey are looking cheaper than the Greek islands. Most tourists compare prices as readily as they swap holiday snaps when they come home and as Turkey remains outside the single currency offers much better value against the pound for holidaymakers.
Figures reveal that demand for travel to Turkey has increased considerably in 2008 and travel experts have said they expect this pattern to continue in 2009.
The Association of British Travel Agents (Abta) spokesman commented: "the position of the currencies unlikely to get much better in the coming months, holidaymakers are expected to look further afield to North Africa and Turkey, which offer much better value for money and where you can still find dinner for two for £20."
According to Shelter Offshore.com, a £100,000 property purchase in Greece can see costs of around £10,000 added to the bill in the guise of land registry, local tax, transfer tax and other notary fees. This sum can rise to £17,500 when all other expenditure is considered. The website has cited research conducted by leading consumer group Which and has reported that the hidden costs can make migration to Greece costlier for UK consumers. However, Costs in Turkey are comparatively low at around £7,000 it is suggested, potentially representing better value for money.
In related news, Turkey's tourist industry is enjoying a boom, with the number of visitors to the nation has risen by 23 per cent this year, reports Today's Zaman.
Social BookmarkingPaul Collins, property editor of BuyAssociation, has stated that Turkey is "significantly" cheaper than Cyprus Property or Greece or elsewhere in the Mediterranean. Mass tourism is a promiscuous business and the summer destinations such as Turkey are looking cheaper than the Greek islands. Most tourists compare prices as readily as they swap holiday snaps when they come home and as Turkey remains outside the single currency offers much better value against the pound for holidaymakers.
Figures reveal that demand for travel to Turkey has increased considerably in 2008 and travel experts have said they expect this pattern to continue in 2009.
The Association of British Travel Agents (Abta) spokesman commented: "the position of the currencies unlikely to get much better in the coming months, holidaymakers are expected to look further afield to North Africa and Turkey, which offer much better value for money and where you can still find dinner for two for £20."
According to Shelter Offshore.com, a £100,000 property purchase in Greece can see costs of around £10,000 added to the bill in the guise of land registry, local tax, transfer tax and other notary fees. This sum can rise to £17,500 when all other expenditure is considered. The website has cited research conducted by leading consumer group Which and has reported that the hidden costs can make migration to Greece costlier for UK consumers. However, Costs in Turkey are comparatively low at around £7,000 it is suggested, potentially representing better value for money.
In related news, Turkey's tourist industry is enjoying a boom, with the number of visitors to the nation has risen by 23 per cent this year, reports Today's Zaman.
Labels: British, Property-prices, Travel
