Property values in Turkish Riviera are up by 40%
Sunday, December 7, 2008
Overseas investors who choose to buy a holiday home on the Turkish Riviera could also be making a profitable long-term investment, according to experts.
In recent years, Turkey has become a hotspot of activity for both overseas property investors and holidaymakers. With hot summers and mild winters, Turkey is quickly becoming a sought-after destination for Brits. The country is easily accessible with budget airlines, while low living costs and ample areas of historical interest may make it an attractive proposition.
ShelterOffshore.com said house prices in Turkey are likely to go up by as much as 15 per cent this year and 40 per cent over the last two years. This is despite the continuing financial problems across the world and the possibility of a global recession.
Purchasing a brand new two-bedroom apartment on a development for just £58,000, a bargain compared to costlier regions of the Mediterranean such as Spain and Portugal. Britons who have been priced out of the domestic housing market are looking for possible opportunities in Turkey. Commenting on this developing trend, the Telegraph said: "Canny young British buyers have invested in rental accommodations in Turkey to gain profit to get on to the UK ladder."
Marc Morley-Freer, spokesperson of Moneycorp commented: "we are still receiving a high level of enquiries relating to buying property in emerging markets like Turkey despite the global property market downturn".
Social BookmarkingIn recent years, Turkey has become a hotspot of activity for both overseas property investors and holidaymakers. With hot summers and mild winters, Turkey is quickly becoming a sought-after destination for Brits. The country is easily accessible with budget airlines, while low living costs and ample areas of historical interest may make it an attractive proposition.
ShelterOffshore.com said house prices in Turkey are likely to go up by as much as 15 per cent this year and 40 per cent over the last two years. This is despite the continuing financial problems across the world and the possibility of a global recession.
Purchasing a brand new two-bedroom apartment on a development for just £58,000, a bargain compared to costlier regions of the Mediterranean such as Spain and Portugal. Britons who have been priced out of the domestic housing market are looking for possible opportunities in Turkey. Commenting on this developing trend, the Telegraph said: "Canny young British buyers have invested in rental accommodations in Turkey to gain profit to get on to the UK ladder."
Marc Morley-Freer, spokesperson of Moneycorp commented: "we are still receiving a high level of enquiries relating to buying property in emerging markets like Turkey despite the global property market downturn".
Labels: British, Property-prices, Turkish-Riviera
