Properties in Turkey attract a growing number of investors looking for the sun, but also higher interest rates on their bank accounts.
Managing director of New Turkish Properties Michael Harrop explained that the real estate boom had been welcomed by the government, who in turn introduced other measures to attract property buyers.
"The government can't do much more than they already are," he said.
"They are offering fantastic interest rates to people buying property there. They are building roads, motorways and everything else to help the economy move forward. They're doing very, very well," he added.
Property values have increased some 40 per cent over the past three years with property buyers mostly investing in buy-to-let properties rather than residential ones.
"People are buying properties over there just so that they can open a bank account which gives them the opportunity to have superior interest rates," Mr Harrop concluded.
With 300 days of sunshine per year and increased efforts by the government to attract foreign buyers, Turkey is likely remain a destination of choice for potential investors.
See Also: Property News (0)
Date Published: 19 July 2007
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