Insurance News Archive

UK property investors 'tempted by Turkey'

Turkey is proving popular among UK property investors, according to an expert.

Ann Wright, international business development manager at Primelocation.com, says many areas in the country are proving attractive to British buyers.

Investment is mainly concentrated on off-plan properties and new builds, according to Ms Wright.

She says around 70 per cent of foreign purchases in Turkey are on these types of property, mainly around the Aegean and Mediterranean coasts in locations such as Antalya, Aydin, Izmir and Mersin.

"However, there is also interest in Ankara and Istanbul from investors looking for an alternative to the popular areas on the coast," she adds.

Changes in Turkish law from January this year have enabled property purchasers to take out a mortgage for up to 30 years, compared to only a short-term allowance previously.

These changes and European Union status have made the country "a lot more attractive" to investors, according to Investors Provident.

26 Jun 2008