Turkey proving popular for international payment

People planning an international money transfer to Turkey could be onto a winner, it has been suggested.

The Turkish property market is doing well despite the economic downturn and experts have claimed that the fact the country's legal tender is not the euro means it is proving a popular place for international payments from British investors at the current time.

Elisabeth Dobson, head of private clients at World First, explained: "As Turkey's legal tender is not the euro, property buyers find it very good value."

She added that many people do not feel the need to rent out their property to make money, because the foreign exchange markets mean it remains good value simply as a commodity and most expect the Turkish property sector to continue increasing in value.

For people thinking of making an international money transfer to Turkey so as to emigrate there, Ms Dobson went on to say that a person "can live very comfortably off the state pension alone" in the country.

Statistics from Conti show that mortgage applications for Turkish properties have increased by 65 per cent in the first five months of the year, compared to the last five months of 2008.

By Paul Jarvis