News Detail
Now is the Right Time to Buy Property in Turkey
Published on 10/6/2008
In an article in the Turkish Daily News, a major property expert has indicated that the climate is right to buy property in Turkey.
Investors are apparently particularly interested in opportunities around Bodrum.
Although the price of property has risen to such levels that locals are unable to afford to buy investors may still find Turkish property particularly appealing as it is still cheaper than Spain, Greece & Italy.
Ian Jones, director of investment at fund management firm Codrea Savills, said that although many economies had been affected by the worldwide credit crunch, the Turkish property market is on the verge of recovery and prices look set to rise again in the very near future.
The stock market in Istanbul has lost as much as 27% of its value since the beginning of the year.
Annual demand is expected to increase as Turkish population growth is expected at a rate of 1%
