Thursday, July 10, 2008


News in the foreign press pertaining to Turkey's real estate sector experienced a surge in the aftermath of the approval of a bill by Parliament on July 5 that regulates property sales to foreigners. The attention paid to Turkey's real estate sector, which is characterized by low prices, has been increasing, wrote British newspaper The Times, adding that prices in the sector are expected to skyrocket if Turkey manages to join the European Union.

“It is possible to purchase a property on Turkish shores at a relatively low price of 35,000 sterling (pounds). Does this sound attractive to you?” wrote the paper. “A clever couple can buy a property with a little amount of deposit and with two credit cards. Credit-card companies provide the opportunity of zero interest rates for 15 months period for those with high credit rankings,” The Times wrote.

The paper emphasized that prices in the country's real estate sector are far lower than that of the EU average. “British customers have started to settle in Turkey's popular cities such as Istanbul and coastal areas such as Antalya and Bodrum in the aftermath of the opening of Turkey's real estate market to foreign customers in 2003. The investors expect an increase in the prices of the country's real estate market if Turkey becomes a member of the European Union,” wrote the paper.

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