Property investors turn towards Turkey

Monday March 3rd , 2008

Property buyers who want to collect returns from their investment are increasingly looking overseas, according to a British newspaper.

The Independent stated that foreign countries such as Turkey were becoming popular because their housing markets were growing at a substantial pace.

By contrast, the market in the UK is beginning to slow down, which means the potential to collect short-term returns has been greatly reduced.

The Independent commented: "Our property prices may be stagnating but for Britons looking to turn bricks and mortar into profits, there is hope on the horizon."

Turkey was said to be popular because house prices went up by 20 per cent last year, while its property values are relatively cheap when compared with the UK.

Independent analysts Amberlamb recently said that factors such as the availability of cheap flights to Turkey also helped make it a good investment option.