antalya will draw foreigners buying property
News Posted On: 18 May 2009
An official in Turkey has said that buying property in Antalya is likely to become a more attractive proposition for overseas purchasers.
Faruk Sayin, a member of the acting board of Antalya Chamber of Commerce and Industry, told a local news agency that thousands of properties are ready to be bought in the region.
He noted that the economic crisis and downturn in house prices around the world had led to a 25 to 30 per cent drop in home prices in Anatolia compared to 2006 and 2007, reported Hurriyet.com.
"The decrease in prices and the rising exchange rate make our country attractive for foreigners to buy real estate," Mr Sayin commented.
The official asserted that with the correct promotion, foreigners are likely to buy large amounts of real estate in Turkey.
A recent report presented to the Turkish Union of Chambers and Commodity Exchanges suggested that residence permit requirements for foreign buyers were a hindrance to the real estate sector, according to Today's Zaman.
Written by Jamie Arthur
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