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Low Interest and Easy Borrowing Makes Turkey an Investment Contender in 2011 - 28 October 2010

Turkey remains a property investment standout for buyers in the low- to mid-market range, according to real estate experts.

Investors are already taking advantage of Turkey’s dropping interest rates and low inflation, which has been reduced from 34.9 percent to 5.7 percent in recent years. Mortgage law reforms have also eased the process of lending for housing, giving overseas investors a greater incentive to buy.

Plus, while other investment destinations like Spain, Italy and Greece have fallen into serious national debt, Turkey’s economy has remained strong. The country has minimized its debt from 70 percent of its gross domestic product (GDP) to 40 percent of its GDP in recent years— its GDP rose 10.3 percent from the second quarter of last year to the same time this year, while creating a budget surplus of 3 million in May.

Right now, low- to mid-budget homes can run as cheap as £25,000 to £55,000, providing great rental opportunities for Britons, who can charge as high as £350 a week in busy seasons.

The country has seen great tourism numbers so far this year, according to Ertugrul Gunay, Turkey's minister of culture and tourism, and is expected to see a further spike as the winter ski season approaches.

Global Property Guide recently called Turkey the best residential property investment and Europe and Conde Nast Traveller named its favourite destination in its 12th Annual Readers' Travel Awards.

Currently, more than 32,000 Britons own homes in Turkey.

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