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Turkey's $10bn bonanza

Tuesday, July 22, 2008

Foreign investors have seriously splashed the cash on Turkish property over the years.

More than $10 billion (£5 billion) was spent by foreigners buying Turkish real estate between 2003 and 2007, according to a report in ‘Today's Zaman'.

Holidaymakers and investors from the UK are showing an increasing amount of interest in the country's property, the publication states.

Low prices in the property sector, as well as the culture and generally warm weather temperature, are said to be some of Turkey's main attractions.

Individuals investing in property in the country do need to gather sufficient information and advice from experts before making a purchase, the website warns.

The report also indicates that Turkey could be ideal for Europeans looking for a warm in which to retire.