Economic stability boosts Turkey's reputation
retiretothesun.com, 26 July 2007
Buyers are choosing to retire to Turkey due to the stable economy and affordable house prices, according to new research.
Currency exchange service HiFX claims that a growing number of Britons are choosing homes in the country, as the destination becomes a more "mainstream" choice for retirement.
"Like Spain 30 years ago, Turkey's low property prices are attracting more than just the holidaymakers," said Mark Bodega, Marketing Director at the firm, explaining that a number of investors are now "lining up" homes in the destination.
This trend is set to continue as economic growth remains a priority and political stability prevails, Mr Bodega predicted.
"In addition, the Turkish government is offering fantastic interest rates to people buying property and are investing in all important infrastructure improvements such as roads and motorways to help the economy move forward," he concluded.
Michael Harrop, Managing Director of New Turkish Properties, recently said that a number of people are looking for property in Turkey purely to open a Turkish bank account and benefit from the nation's favourable interest rates.