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Buyers 'optimistic' about Turkey

Buyers 'optimistic' about Turkey

British homebuyers are optimistic about Turkey, it has been claimed.

According to currency conversion service HiFX, enquiries from UK people buying homes overseas have grown recently.

The firm's Mark Bodega compares Turkey's low property prices to Spain three decades ago, saying that "the Turkish government is offering fantastic interest rates to people buying property and are investing in all important infrastructure improvements such as roads and motorways to help the economy move forward".

"All of this, points to a positive long-term future for the country, with their recognition that tourism will continue to be very important for the economy which is also reassuring for buyers of holiday homes," he added.

The sector practitioner advises people considering buying a property in Turkey to hire a solicitor fluent in both English and Turkish, as homes bought in the country need to be approved by the military and the accompanying procedure can take between three and six months.

Managing director of New Turkish Properties Michael Harrop recently commented that the Turkish real estate boom is being supported by the country's government.
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_26/07/2007