Posted on 25 September 2009
There have been numerous signs in the past few weeks that the overseas property industry can breathe a sigh of relief; the worst seems to be over. Overseas Property Professional magazine has featured several articles quoting industry professionals reporting increased leads, and increased sales, including a surprising run on off plan property sales.
Turkey is set to be one of the biggest benefactors of the market revival, which is largely fuelled by the return of British buyers.
This is because, with the deficit between the Euro and Sterling potentially cancelled out forever, Turkey is one of the few places within easy range of Britain where we Brits can enjoy the cheap holidays in the sun that have made us famous around the world. Cheap holidays means cheap property, and many buyers are finding Sterling’s current strength against the Lira a massive benefit in their holiday home purchase.
There is also increased faith in the Turkish property market as a safe place to buy property. Earlier this week, overseas mortgage provider Conti revealed data on the most popular locations in terms of british buyers applying for overseas mortgages. The report showed that today’s buyers are favouring established markets over the far flung destinations that made it to popularity in 2007.
Turkey featured in third position, behind France and Spain, and perhaps more notably, above Italy and Portugal. Turkey was the only emerging market in the top 5, which shows that people trust the market. It also confirms that Turkey property is set to be one of the most popular with the new wave of buyers for the reasons mentioned above. The data also showed that of all British buyers applying for a mortgage through Conti, 13% of them are buying in Turkey.
Spot Blue currently have one of the largest ranges of Turkey property for sale in the UK, and they also offer great deals on Turkish mortgages.