Turkey weathers economic storm

Tuesday May 20th , 2008

Ongoing problems in the global economy are not negatively affecting the Turkish property market, according to experts.

ShelterOffshore.com said house prices in some coastal resorts are likely to go up by as much as 15 per cent this year.

This is despite the continuing financial problems across the world, such as the credit crunch and the possibility of a global recession.

ShelterOffshore.com said Turkey is "shrugging off" these concerns and is likely to perform well in 2008.

The website added that the country has numerous lifestyle attractions, such as an excellent climate, good scenery and lots of facilities for tourists.

ShelterOffshore.com said plans to boost tourism in the near future will lead to more Britons choosing to buy homes in Turkey over the next few years.

"There are over 22,650 British-owned properties in Turkey now," it commented.

The Turkish government recently revealed that it wants to attract more than 50 million visitors a year by 2023 - more than double the amount of holidaymakers recorded last year.