Thread: Turkey Property Prices up by 9%

Property prices in Turkey are being pushed up by interest from overseas buyers, it has been suggested.

Suleyman Albay, Oceanwide Properties managing director, told Overseas Property Professional (OPP) that prices have risen by at least nine per cent so far this year. This compares to an increase of around six per cent last year.

Meanwhile, the volume of inspection trips from buyers has more than doubled.

As a result of the rising level of interest, Mr Albay is set to increase the number of offices his estate agency has on Turkey's Mediterranean coast.

He added: "It is important to note is that there is very little overbuild here which helps buyers maintain value in their property, unlike other countries which went for massive urbanisation.

"Avarice brought a death-knell to whole swathes of what has become a concrete jungle and urban blight."

The comments follow the publication of a report by the Association of Real Estate Investment Companies, which revealed that overseas buyers accounted for £1.5 billion worth of home purchases in Turkey last year.

Thanks for that!

So, since last year, my villa has gone up by over 15%.

That will make up for the poor performance of the UK property market ....

Mark

Well Turkey IS a rising economy and from what I have been reading it also becoming a bit more pro-liberal -although its government and its people are not using this kind of word- there is a strong minority, mainly to the rich Instabul and other cities in the West who are lobbying for Turkey to become a member of the EU

They will get there eventually (in to the EU) but I think it will be a few more years away yet.