Expats Attracted to Turkey
It has been suggested this week that low costs of living are a possible reason for expats being attracted to Turkey. The Turkish Newspaper, Didim Today, has cited that general costs are 60% lower when compared with those in the UK. This combined with the fantatsic weather, beautiful scenery and affordable housing mean that Turkey is hard to ignore.
Speaking to the Financial Times earlier this month, founder of broker Istanbul Mortgage Bahadir Teker said the current climate of low interest rates, affordable housing and plentiful mortgage supply makes now a good time to invest in property in the country.
With it's budget friendy facilities and the Lira's low value against the pound Turkey has also increased it's share of British Tourists by 12%. In response the Turkish Culture and Tourism Ministry are also looking at new promotion strategies for 2010 and hope to increase the goverment budget by anything up to 11% hopefully encouraging those that haven't visited Turkey before. Fantastic news for property owners!
News item created: 4.11.2009