FOREIGN PROPERTY INVESTORS TARGET TURKISH RESORTS
Foreign buyers are choosing large resort cities to purchase property in Turkey, according the Anatolia News Agency.
The news agency published figures released by the Land Registry Directorate General, which showed 113,687 properties in the country are owned by people from overseas.
The research also revealed the British, Greeks and Germans hold the most properties in Turkey, with UK citizens being the most active in the Turkish property industry.
Overseas mortgage specialists Conti has revealed that the mortgage availability in Turkey is good and that’s why property investors are choosing the country as their next place to buy.
Clare Nessling, director at Conti stated: “Turkey offers great property prices and as tourism has risen dramatically over the past few years, rental yields are lucrative.”
Property investors have also been encouraged to buy property in Turkey due to figures released in October this year by the Turkish Statistical Institute. The figures showed that income from tourism increased by 8.9 percent during the third quarter of 2011, with 78 percent coming from foreign visitors.
The recent findings have certainly put Turkey in the spotlight and the country has become a firm favourite amongst investors. With tourism rising year-on-year and more foreign investors buying property in the country, it proves Turkey is a great choice if you are thinking of buying a home abroad.
Neil Hollingsworth from Rivermead Global says “we have seen a big increase in people searching for property in Turkey, especially in Altinkum and Akbuk where you can still get large 86m2 apartments from as low as £35,000”
“The developer we use also allows our clients to buy off plan with 70% mortgages available on completion (STC), the Aquavista Spa Resort in Altinkum has been very popular, with only 10 apartments left and Aquavista 2 due release shortly”
Source: Overseas Property & Investment News