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| Turkey the second home market |
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Situated between Asia and Europe, Turkey's popularity as a second home and property investment destination is going from strength to strength. Spurred by relatively cheap property prices and a currency - Turkish Lira - that the UK pound is holding value against, more Brits are looking to Turkey's property market in order to avoid the more expensive euro currency. Turkey's economic strength, combined with a general housing shortage, hopes of joining the European Union and a maturing mortgage market, could yet see Turkish property prices strengthen moving forward, despite already having recorded strong capital appreciation over the past few years. Bodrum, Antalaya and Dalaman, are amongst those areas attracting the most enquiries for Turkish properties for sale. From the March 2009 edition of Homeoverseas With its substantial and beautiful coastline, Turkey is rapidly emerging as second-home market and while most development has so far been aimed at the mass- and mid-markets, higher-quality projects are beginning to appear. There are limits on foreign buyers - they can't buy land of strategic, religious or cultural importance - but the country is mainly open (so long as Turks can buy in the foreigner's country too). Prices in prime coastal areas typically range from €1,200-€2,600 per sq metre. Locations worthy of investigation include Belek, Altinkum and the less developed areas around Bodrum. By Liam Bailey and Nicholas Barnes Published: December 27 2008 02:00 | Last updated: December 27 2008 02:00
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