Brit buyers outnumber other nations in Turkey

Monday, November 21, 2011

Brit buyers outnumber other nations in Turkey

More buyers from the UK than any other foreign nation own property in Turkey according to November figures from the country's Land Registry Office.

Of the 123,000 foreigners that have property in the country, 35,656 are from the UK, far ahead of the 28,306 overseas property owners from Germany who make up the second place and the 10,859 Greek owners who have invested in the country's booming housing market.

According to the research, destinations such as Antalya, Mugla and Aydin are the most popular locations among this demographic. Meanwhile, Istanbul and Bursa also attract their fair share of foreigners who are interested in purchasing real estate in Turkey.

With rising property prices, 80% LTV mortgages available, and the fact that rental values climbed by 1.07 per cent across the country between September and October, now could be a great time to invest in a property in Turkey. The pound has also strengthened against the Turkish lira by around 15 per cent in the past two years, from £1-2.48TL in November 2009 to £1-2.84TL in November 2011.

Especially favourable for investors looking for a home with rental value is property in Istanbul, Izmir and Antalya where rental values rose 1.26%, 1.58% and 1.24% respectively.

Read our guide to buying a property in Turkey


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