Beach front property in Turkey could prove a top investment in 2009 after statistics suggested the country is getting more popular with European holiday makers.
Hurriyet reports some British tour operators say Turkey has replaced Spain as the most popular destination for UK tourists this year, with Spain having previously held the number one position for 30 years.
The news follows a raft of recent discounts announced on investment property in Turkey as some developers struggle to sell new units.
Last month property firm Nirvana International said Turkish builders were now prepared to slash prices, with some villas in the Bodrum area originally listed at around $300,000 now available with $44,000 off.
According to Hurriyet, property in Turkey could prove a decent low cost investment as there is “no denying” new interest in the country as a holiday destination.
However, those looking for an investment could have to wait a while longer before the country wins its fight for EU membership.
Its European quest took a blow last month when the Turkish Economic and Social Studies Foundation published a report saying the country’s property laws do not meet EU standards.
According to Europe News, the report said Turkey still “heavily restricts” the ability of minority religious foundations to acquire new property.
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