Turkey attracts British first-time buyers

Thursday April 17th , 2008

Britons who have been priced out of the domestic housing market are looking for possible opportunities in Turkey, according to a newspaper.

The Telegraph stated that first-time buyers from the UK are increasingly snapping up buy-to-let properties in areas such as Istanbul.

This is because foreign property investors can enter the market at a price which compares very favourably with those in Britain.

Furthermore, the potential for capital growth and earning strong rental yields means such a purchase could prove to be highly lucrative.

Commenting on this developing trend, the Telegraph said: "Canny young British buyers have invested in buy-to-let here to gain enough profit to get on to the UK ladder."

The newspaper added that the population of Istanbul is growing "rapidly", which in turn has led to higher rental demand and greater rental yields.

This comes after ShelterOffshore.com said Turkey offers far more affordable property values than the UK, along with good-quality infrastructure and amenities.