Investors urged to keep an eye on Turkey

Friday March 7th , 2008

Overseas property investors have been advised to pay close attention to Turkey over the next few years.

Sarah Brown from NuBricks.com stated that the south-east European country could potentially experience a property boom in the near future.

She said government efforts to boost the tourism sector could have a major impact on Turkey's housing market, as officials are aiming to attract more than 50 million visitors a year by 2023.

This means that the requirement for rental accommodation across Turkey should increase significantly, potentially creating massive demand for property in prime locations.

Ms Brown commented: "This could easily prompt a property boom with greater demand placed on existing holiday homes already built in key tourist resorts."

She added that Turkey could be a "very interesting market" to watch over the next few years.

Basaran Ulosoy of the Turkish Association of Travel Agents recently told Today's Zaman that attracting 50 million visitors a year by 2023 was a realistic ambition that could be achieved.