Turkish Property to Become Favorite With Today’s Investors
Turkey property has been gaining popularity with overseas property investors for several years now, though, as everywhere this has been dampened in the last 8-10 months by the international downturn, but it may be about to turnaround according to overseas property specialists.
Within the last 8 months it has mainly been lifestyle buyers who have been buying Turkey property, with many thousands of Brits buying holiday homes, and the Aegean region being a particular favourite.
“Investors may start looking seriously at the country again however, now that signs are emerging that Turkey’s economy may recover quickly, and because tourism is still so strong,” said a leading Turkish property expert. property turkey
Frank was referring to a forecast last month by the Association of British Travel Agents that the number of Britons visiting Turkey will grow by 25% this year, and the fact that Turkish capacity utilisation — a key indicator of economic growth — rose for a third consecutive month in May.
If Turkey has a strong summer of tourism as expected, then we could well be looking at an early recovery for Turkey.
“An early recovery in the Turkish economy, or even the appearance that it may recover early will put it right up there with the new wave of investors,” said the Turkish property expert.
“Today’s overseas property investors are more savvy than ever before, having seen people lose out from poor due diligence. They are seriously looking at their exit strategy, as in who is going to buy the property when they sell it,” he explained.