The Turkish property investment scene is becoming a big topic with one expert now saying the credit crunch actually did the country a big favour.

Tourism is continuing to perform well in Turkey despite falling on a global scale and property prices are also low.

The Global Property Guide has recommended the country as the best place to invest in property within Europe in its mid-2010 guide to investment-worthy destinations.

The so-called credit crunch has actually been of benefit to the Turkish property market as a whole, according to international property investment consultancy Property Frontiers.

Director of the firm David Cox said: “Turkish property was incredibly popular in the later years of the recent overseas property boom, but lifestyle buyers were dominant in the market as the country went largely overlooked by foreign investors.

“Now that the credit crunch has walloped Europe, exposing the financial weakness of many developed nations, with a budget deficit of just five percent and estimated first quarter growth of 10 percent Turkey stands out as one of the most stable environments for property investment in Europe.

“The credit crunch also increased Turkey’s exposure to British tourism; because it almost exterminated the pound’s value over the euro; as we escaped parity by a hair’s breadth we would get just 1.05 for our pound, with 1.10 becoming the regular ceiling throughout most of last year.

“This led to many British tourists, looking outside the Eurozone to get better value for their holiday quid.

“Because Turkey has a lot to offer, many of those who found it during the crunch will not hurry back to the more costly Eurozone destinations.

“This will undoubtedly lead to increased rental yields in Turkey property investment.”

Overseas holiday home owners are currently benefiting from the increasing trend for people to create their own holiday packages using the internet; renting villas and apartments privately and booking their own flights and Turkey is benefiting more than most according to Cox.

“In Turkey, there is a shortage of mainstream holiday accommodation in many of the most popular areas,” he explained.

“This is leading to high levels of occupancy in private accommodation, which adds to the investment potential of Turkish property.”

© Fly2Let.net Ltd 2011 l Terms of use l Contact l Free Subscription l Webmaster
Brazil l Bulgaria l Canada l Cape Verde l Croatia l Cyprus l Dubai l Egypt l France l Germany l Hungary l India l Italy l Morocco l Portugal l Romania l Slovakia
South Africa l Spain l Thailand l Turkey l UK l USA l Other Countries
Investment Property l Off Plan Developments l Ski Property l City Apartments l Golf Property l Beach Front Property l Land Investment
Cheap Flights l Car Hire l Property Finance l Property Insurance l Travel Insurance l Property Maintenance l Overseas Removals l Currency Exchange l Exhibitions & Seminars