Applications for Turkey Property Mortgages up 65% in 2009

Posted on 22 July 2009

New mortgage applications to buy Turkish property increased by 65% in the first half of this year, according to one of the UK’s largest providers of overseas property mortgages Conti plc. The firm also said that “great property prices, superb Mediterranean location and separation from the strong euro” have made Turkey one of the top investment destinations for 2009.

Conti’s operations director, Clare Nessling, said: “These factors, combined with low interest rates and that Turkey is out of the eurozone, has made it increasingly attractive, as well as more affordable, for UK buyers.”

Turkey is fast growing into one of the most popular tourism destination for British travellers. The Association of British Travel Agents is forecasting 25% growth this year, following on from average 20% growth over the last few years. The Turkish tourism ministry predicts that Britain will soon be one of its largest markets, bringing 3 million tourists into the country every year, the same number as Turkey’s current largest market Germany.

As tourism to Turkey continues to grow, with just under 30million tourists expected this year, Turkey will also continue to grow in popularity with overseas property buyers, not least for the reasons pointed out by Conti.

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