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Turkey 'key property investment destination for 2012'
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Turkey has emerged as a key property investment destination for 2012, as it avoids becoming wrapped up in the problems of the eurozone.

According to the latest REIDIN.com-GYODER New Home Price Index, prices of property for sale in Turkey sat 9.54 per cent higher in November 2011 than a year earlier.

A month-on-month increase of 1.41 per cent was recorded from October.

These figures stand in comparison with an overall annual decrease of 1.9 per cent in November for property in the UK, according to Land Registry figures.

Tim Morgan, partner at Emerging Real Estate, said tourism is behind the "boom" in Turkish property.

A shortage of housing in Istanbul is in particular making for a "very profitable" investment for those looking to purchase buy to let property in the country.

"With the eurozone in crisis it seems Turkey's appeal will remain undiminished for at least another year or so – until neighbouring countries begin to compete again," he concluded.
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