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Turkish Property Investors Advised To Consider Istanbul

News Posted On: 12 January 2009

Overseas property investors might be able to acquire a bargain property in the Turkish capital, it has been suggested.

Real estate agent Ibrahim Gunduz told Today's Zaman that the market has "gone soft" in the city and buyers could be able to purchase a sea view flat with a 20 per cent discount.

He noted that while there has been a slight drop off in the number of sales in the past year, there is still a strong rental market in Turkey.

Mr Gunduz said: "Prices in the city centre are soft, with even sea view flats down by 20 percent this fall, but that's nothing compared to the suburbs, where prices have dropped 40 or even 50 percent since the crisis hit."

The low cost of housing could make 2009 the ideal year in which to purchase a property in Turkey.

According to Robert Nixon, director of Nirvana International, the number of people with second homes in Turkey is increasing.

Written by Jamie Arthur

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