low prices driving interest in buying property in turkey
News Posted On: 27 March 2009
The sustained interest in buying property in Turkey has been attributed to the low cost of housing in the country.
Adam Samuel, director of Nubricks, said the fact that Turkey has not joined the EU could be a key factor in its popularity.
Because the country has not yet adopted the single currency or acceded to the EU, prices are cheap compared to many other nations in the area.
He noted that the with the exception of Egypt, there are few places in the region with housing costs as low as Turkey.
"Probably the key to why Turkey is still of interest to people is because it hasn't joined the EU and the prices are extremely cheap," Mr Samuel commented.
He added that because accession is a possibility in the near future, many are buying in the hope that prices will start rising once the country joins.
Last month, property investment magazine Jet-to-Let reported that Turkey was voted the tenth most popular destination for overseas real estate investors.
Written by Les Calvert
Property Abroad - for your overseas mortgages, buyers guides and the latest news on buying property in Turkey
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