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Investors hail 'tough Turkey'

Monday, 7 July, 2008

Turkey is really cooking again after a recent temporary ban on foreign property investors...

Turkey's property market is proving to be amazingly resilient, with prices expected to rise by 10%-15% this year. Added to that, the currency exchange company Moneycorp reports that British interest in Turkey property has trebled in the past year.

To underline the point, a NatWest survey of mortgage lenders predicts that Turkey - where 22,650 Brits own property - will be the third most popular destination for UK buyers in the next three years, with most sticking to the area between Kusadasi on the Aegean coast and Alanya on the Med.

In its attempts to double tourist numbers to 10 million by 2010, the Turkish government is investing in infrastructure and attractions, including new golf courses in Dalaman and Belek. It is also encouraging new air routes and airport expansion. For example, EasyJet now flies to Dalaman and Istanbul, BA to Antalya.

A new international airport at Edremit will also open up other areas around Ayvalik, north of Izmir, which until now, despite good beaches, great windsurfing and attractive property, were almost solely the preserve of Turkish buyers.

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