People are buying property in Turkey in order to access "superior" interest rates in the country's banks, one expert has said.
Michael Harrop, manager of New Turkish Properties, said the Turkish government is doing all it can to attract overseas investors.
As well as offering "fantastic" interest rates to property buyers, the government has also sanctioned the building of roads, motorways and other forms of infrastructure.
Investors are also drawn to the year-round sunshine and the fact that the property market itself is booming.
Mr Harrop said that in the last two years property values have appreciated by about 40 per cent and expects them to rise by the same amount within the next three years.
"There's probably as many that are considering [buying in Turkey] from an investment point of view as there are buying holiday homes at the moment," he added.
In recent times, the Turkish government has made a concerted effort to boost the country's property market.
Thanks to a loosening of mortgage regulations, investors will be able to take out a mortgage over a term of up to 30 years from January 2008.
See Also: Property News (5994)
Date Published: 13 July 2007
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