Turkey sees rise in demand for studios

Tuesday February 26th , 2008

Property investors are driving a high demand for studio flats in Turkey, it has been suggested.

Some developers are even changing construction plans in order to facilitate the building of more such small apartments, reports the Turkish Daily News.

The article suggests increasing demand is related to the fact that such properties are popular letting opportunities, meaning investors are keen to snap them up.

Another factor suggested is the low deposit that is needed for a studio flat, along with the fact that apartments are sold on quite easily as a result of low selling prices.

Some 80 per cent of new developments are made up of studio flats, the newspaper suggests.

It adds that developers have also decreased their size in order to attract investors who want to buy property "during periods of stagnation".

The Moving Overseas Guide highlights there are many quality properties across Turkey available to investors.

However, it urges potential buyers to enlist the services of a solicitor who speaks English to facilitate their foreign property transaction.

A committee member at the National Association of Estate Agents International incorporating Fopdac recently suggested the similar to investors in property abroad.

Linda Travella said a professional could help investors with understanding potentially complicated buying, tax and legal issues in a foreign market.