Turkey still popular with investors as market expected to keep growing

Turkey still popular with investors as market expected to keep growing

16th July 2007
Year-round sunshine and steadily growing prices are the main factors behind the continued interest of UK investors in Turkish property.

According to experts on the market, there are now as many people buying into the Turkish market for investment purposes as there are people looking for holiday or retirement homes.

In the last two years, New Turkish Properties Ltd, a UK-based property agent, has witnessed a 40 per cent appreciation in property values and has expressed its optimism that this rate of growth will continue over the next three years.

One factor behind the market boom has been government initiatives aimed at promoting the country’s popularity among investors.

"The government can’t do much more than they already are," said Michael Harrop, managing director of New Turkish Properties.

"They are offering fantastic interest rates to people buying property there. They are building roads, motorways and everything else to help the economy move forward. They’re doing very, very well."

Recently, the Global Property Guide described Turkey’s property market as one of the most attractive in Europe for investors, resembling the Spanish market ten years ago.

© 7BestInvest Ltd 2007.