Property in Turkey sees increase in interest.
A recent report in the Daily Mail has been outlining the potential benefits of buying a property in Turkey, as factors such as the strength of the Euro, the relatively low cost of living, and superb climate produce a seductive combination for potential investors.
Since the relative strengthening of the Euro in relation to the pound, people looking to buy property overseas have tended to focus on countries outside of the Eurozone, with Egypt and Turkey seeing increased interest in recent months.
Stephen Hughes, Director at Foreign Currency Direct told the Mail that they had seen an increase of 36% in exchanges of Sterling into Turkish Lira. Hughes went on to say “The Turkish Lira has increased by 6.5% against the pound in the past year, which means that those who changed to lira find their money goes much further than before.”
Whilst many investors have been attracted by the opportunities in the major cities such as Istanbul, the majority of the investment from abroad has looked to capitalise on Turkey’s rapidly expanding market for tourism. In particular, resorts such as Bodrum, Fethiye and Altinkum have proven exceptionally popular with both investors and holidaymakers looking for a permanent home in the region.
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Tags: Altinkum, Bodrum, buy property off-plan, calis, fethiye property, off-plan property, off-plan property investment, property abroad, property in turkey, turkey property
April 25th, 2009 at 6:19 am
Hi,
My wife and myself are travelling out to Turkey in August, and would like to look at a few properties whilst were out there. I’ve also heard some good reports about Fethiye though, and was wondering if anyone on here had already bought property in Fethiye and could tell us what it’s like.
Thanks,
Deven
April 26th, 2009 at 5:39 pm
Hi Deven,
I can only give my opinion here, but I would personally look to purchase in Bodrum rather than Fethiye. It very much depends what you’re looking for, but I do think there’s a lot more going on in Bodrum. Property in Fethiye is better priced, but I think the livelier environment of Bodrum makes a difference.
Also, there are definately more tourists in Bodrum, so rental yield potential would be far higher in the long term.
Jinky.