Increasing Number of Brits Buying Property in Turkey

Increasing Number of Brits Buying Property in Turkey

There is an increasing number of British holiday home insurance customers buying property in Turkey, according to insurance provider Intasure. The insurance firm reports on a significant spike in the number of British people purchasing holiday homes in Turkey, attracted by low property prices and favourable taxes. House Sales Turkey (http://www.housesalesturkey.com/) can also reveal that figures recently released from the Turkish General Directorate of Land Registry show that around 32,000 Brits are investing in Turkey property at this time.

Turkey has been a favourite overseas holiday destination for the British for the past few years, with more budget flights opening up the country and more holiday-makers being attracted to its unique mix of East meets West. Not only can you holiday in Turkey for less than in similar resorts in Spain, France or Italy, but you can also purchase Turkish properties as holiday homes for far less, a fact which has not gone unnoticed by the British, according to Intasure. Turkey property is signficantly less than that of its European counterparts, but there are also long-term incentives to buy property in Turkey. The property tax situation is more favourable, for instance, with no capital gains taxes to be paid on property which has been owned for more than five years. In addition, there has been recent legislation change which makes it easier for foreign purchasers of real estate in Turkey to acquire holiday home mortgages.

Turkey has been showing early signs of real economic recovery in recent months. This, combined with Turkish voters backing constitutional reform which is set to modernise the country further, adds to Turkey's attraction to foreign real estate purchasers. Even those wanting to buy Turkey property purely for holiday home use rather than investment return will be encouraged by the news that the country in which they have invested property has a healthy socio-economic outlook.

To view the latest property listings in Turkey, including many in favourite holiday home locations, visit http://www.housesalesturkey.com/.

http://www.articlesbase.com/sales-articles/increasing-number-of-brits-buying-property-in-turkey-3761053.html

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