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Posted On: 01/07/2009
Turkey Property Becomes Most Popular With British BuyersTurkish property is currently the most popular among British buyers, according to overseas property specialists Azure Overseas.
"Turkey's popularity among British buyers grew rapidly throughout March as it overtook Cyprus and Spain to become the number one destination," said Frank Crowley, Azure director.
Frank believes this surge in the popularity of Turkey is because the market is because of the growing presence of lifestyle buyers within the market."Our client base has diversified a lot in the last 6 months, in March lifestyle buyers accounted for as large a portion of our buyers as investors. It is like that this change and the growth in popularity of Turkey are related in more than a small way," Frank said.
Frank was keen to point out that, though Turkey is very popular with lifestyle buyers, it is also one of the best places to make a property investment in the current climate."Turkey is a great place to invest, we've just added another property with a guaranteed rental yield, this one of 7%, but we have Turkey properties with even higher guaranteed yields. Turkey attracted over 23million tourists last year and 30million is expected this year, which accounts for the strong rental yields," Frank explained.
The property Frank was referring to was the Evviva Residence, offering 1 bedroom apartments in Istanbul for under £42,000. The apartments come with a 7% guaranteed rental yield in the first 5 years.
Azure Overseas is currently marketing dozens of properties for sale in Turkey, many of which have guaranteed rental yields, some as high as 9% and more.
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