Downturn 'boosting Turkish property'
Tuesday March 3rd , 2009
The global economic downturn is boosting interest in Turkish property from overseas investors, it has been claimed.
According to overseas property specialists Azure Overseas, the trend is likely to continue for at least the first three months of 2009.
Company director Frank Crowley explained that developers have lowered their prices on off-plan developments in the country due to the financial climate.
As a result, an increasing number of potential buyers are seeing the appeal of a holiday home in Turkey.
"Property prices in Turkey had previously made it an unrealistic destination for many people, but the drop in prices has removed that negative leaving only the positives, which are incredible," he said
"Tourism to Turkey has risen off the scales in the past few years, beating all predictions in 2008," he added.
Investment firm Obelisk recently claimed that 2009 will be the year Turkey establishes itself on the international property market.
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