Posted on 14 February 2011
Turkish property a “well kept secret” for expats
Retirees looking to move abroad should consider Turkey as the country’s property market has remained a “well kept secret” in recent years meaning house prices are “exceptionally low”.
This could be an attractive proposition, considering that the average asking price for a home in the UK stood at £241,474 in August according to Rightmove.co.uk.
Source: London Stock Exchange 3rd September 2007
“Money in the bank earns 18 per cent interest so you can live off savings,” he remarked. “There are expat British communities doing precisely this. Sunshine and no worries!”
Last month RightmoveOverseas predicted that the introduction in Turkey of mortgages for non-residents would lead to an influx of foreign investors buying homes in the country. Previously overseas buyers could only purchase Turkish property if they paid in cash.