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- Signs of recovery in the Turkey property market -

17.03.2010

Turkey's economy and real estate sector, though affected by the global economic slowdown, have held up well compared to others in Europe thanks in part to strong local demand and low exposure to international credit markets. The country's solid economic performance was confirmed by a recent upgrade of its credit rating by Standard & Poor, with an analyst from the global ratings company commenting: "Turkey's banking system is one of the strongest and least-leveraged in Eastern Europe."

Official figures indicate the start of a recovery in the real estate sector with home sales up 25% in 2009 compared to a year earlier.

"This is promising news particularly as the property market in the coastal resorts will be kick-started by what is expected to be a record-breaking tourist season, with over 30 million visitors attracted by the country's beautiful coastline and excellent value-for-money," comments Dominic Whiting, editor of the Buying in Turkey guide, buyingin.co.uk.

New air-routes from across the UK, a rapidly improving infrastructure and its position outside the Eurozone, will further promote Turkey as a top destination for British property buyers this summer.

During the summer months, Pegasus will operate flights to Dalaman each weekday from Gatwick and Manchester and every Sunday from Gatwick.

Dominic Whiting continues: "Location and quality remain of key importance. Buyers should be looking for property in the best areas, which represents a solid investment as the market bounces back. It will remain a buyers' market for the time being, with some excellent deals to be found, though I expect this to change as the slack is taken out of the market over the next 12-18 months."

Source : buyingin.co.uk

 

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