Liz Rowlinson, Editor of the popular overseas property magazine ‘A Place in the Sun’ wrote an interesting article last month titled ‘A Snapshot of Property in Turkey’. The report featured in the popular magazine that runs alongside the UK TV series and live exhibitions. It discussed the ongoing demand and popularity of property in Turkey despite the countries current issues.
“Turkey remains one of our favourite places to buy” says Liz Rowlinson.
“It’s difficult for some buyers to divorce what is happening in Turkey’s eastern boarder with Syria with the resorts on the south-west coast. That has caused a dip in interest this year but that doesn’t seem to have put off Middle Eastern buyers” says Liz. “The Turkish economy is good (the country is projected to beat the 24 EU member states with GDP growth of 3.2 percent in 2015) and in the Knight Frank Global House Price Index (2015 Q3), Turkey is actually top – in terms of property price growth with prices up 18.9 percent year on year. The UK is at number 29, for the record; Spain is at number 42.” Liz puts this down to increased levels of foreign investment, a slowdown in construction driving up prices and an expanding population.
“Turkey still remains a great alternative to the Costas for coastal properties well under the £100k threshold”.
Rowlinson notes that Turkey has had some “fierce” competition from Spain over recent years but assures readers that a property in Turkey is a great alternative to the Costas for bargain coastal properties. She also mentioned Turkey’s popularity with the luxury and high-end investors. She puts this down to affordability when weighed up against the likes of Sardinia or the Cote d’Azur.
Turkeys coastal property investment hot spots according to A Place in the Sun.
“Bodrum, Kalkan, Fethiye, Altinkum and Antalya” are the property in Turkey hot spots according to the report. “Over 35,000 Brits own a property in Turkey, along with a good number of Scandinavians, continental Europeans and a growing number of Middle Eastern investors”.
It’s great to read another article in support of property investment in Turkey, especially from such a well respected source. We hope that readers will take note of the advice and continue seeing the benefits of property in Turkey opposed to other destinations.
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A Snapshot of Property in Turkey (Original article from A Place in the Sun March 18th 2016)