If you have been pondering whether to get a holiday home in Turkey, it might be time for you to get moving as it has been reported that the interest from overseas buyers has pushed up property prices in recent months.
The managing director of Oceanwide properties, Suleyman Albay has reported to the OPP (Overseas Property Professional), that there has been at least a 9% rise in house prices so far this year which compares to an increase of around 6% last year.
With the increase of inspection trips from buyers doubling, Mr. Albay has set his sights on expanding the number offices that his estate agency has in Turkey.
He explained that “Unlike other countries which went for massive urbanisation, Turkey has little overbuild here which helps buyers maintain value in their property”.
The Association of Real Estate Investment Companies has recently publicised a report which states that overseas buyers accounted for 2.4 billion dollars of home purchases in Turkey last year in 2010.
If you are looking to purchase a holiday home in Turkey, we would advise that you seek legal advice from a lawyer that speaks English and note other fees that you have to pay out for. For example, holiday home insurance, local taxes and agent fees. (HOMESGOFAST)
