UK investors quick to realise potential of Turkish property

Is your high street bank overcharging you?

New statistics suggest that Property investors from Britain are continuing to display a particular interest in Turkish property.

Figures from the Land Registry Directorate General suggest that a total figure of 113,687 homes throughout Turkey are now owned by foreign investors.

Of all the properties sold within the last two months, 1 in 6 has been acquired by UK investors keen to capitalise on increasing rental values.

The increasing value of property within the country is another reason why savvy UK investors have been quick to act. The value of Turkish properties increased by average figure of 0.81% last month compared to September.

Ray Withers, Director of Property Frontiers, suggested; “Turkey has become an exceptionally popular property choice. At present it is an anchor of stability with a booming economy that is hoped to reach around $2 trillion by 2023.

“The Western suburbs located around Ataturk International Airport such as Beylikduzu, one of the fastest growing areas, presents not only a great opportunity for investment but cheaper property price tags than the rest of Europe, making the city even more attractive to potential buy to let investors wanting to take advantage of the increase in rental prices highlighted by the data.”

If these trends continue, it seems likely that investors from all over the planet will latch on to the benefits of investing in a thriving Turkish property market.

Transfer Money to Turkey

If you are looking to send money from the UK to Turkey, think carefully about how you will be transferring money to Turkey. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Turkey – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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