Longer mortgages for Turkey

27 June 2008

Mortgage applicants can now obtain deals for up to 30 years, thus contributing to the recent surge of interest from overseas investors in the Turkish property market.

Prior to January 2008, foreign Turkish property buyers could therefore only apply for short-term mortgages, hence considerably limiting access to the market.

The effect of the new measure can already be measured as indeed Turkey "ranked eighth amongst countries searched" on Primelocation.com last May according to Ann Wright, international business development manager for the property website.

In addition to this, Turkey has also made it "easier for foreigners to buy up to 25,000 sq m of real estate for residential or business purposes" since 2005 and the number of
British people currently owning a property in the country reaches 17,000.

Among the most popular areas for property investment at the moment, the Aegean and Mediterranean coasts figure at the top of the list with places like Izmir, Antalya and Aydin near the Bodrum area on the west coast.

However, Ms Wright added that "there is also interest in Ankara and Istanbul from investors looking for an alternative to the popular areas on the coast".

Also in the news...

• A foothold in the Mediterranean area
• Insurance issues arise for senior travellers to Turkey
• Turkey benefits from the value of the Euro
• Turkey: full member of the EBRD
• Turkey cleans up the air
• Queen supports Turkey's entry to Europe
• The diversity of Turkish food
• Turkey ranked tenth for 2007
• Avoid the strong Euro this summer

News Archive

• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007

Print Page

Bookmark Page

Email Page

Back to Top  |  Make Enquiry