Property prices in Turkey 'rising'
Increased interest from overseas buyers has led to a
rise in property prices in Turkey, reports suggest.
While talking to publication Overseas Property Professional
(OPP), Suleyman Albay - managing director at Oceanwide Properties -
said so far this year property prices have shot up by at least 9%.
This is in comparison with a rise of about 6% recorded last
year.
With the amount of inspection trips from foreign investors more
than doubling, Mr Albay is planning 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."
Copyright Press Association 2011 | Jake Richards
