Turkey Property Benefits from Increased Exposure Offered by Downturn

Since the dust began to settle in the international financial crisis it has become clear that several property markets around the world are looking incredibly well placed to actually see a small-large benefit from what damaged other markets.

Turkey is most definitely one of those markets according to Julian Walker of Spot Blue, a UK based specialist Turkey property agent. He said:

"Before the downturn the main buyers of Turkish property were lifestyle buyers, mainly those who had enjoyed holidays in the country -- investors seemed keen to wait on EU entry. The credit crunch has not only widened this audience by making the Turkish lira a much more attractive currency than the euro and accelerating growth in tourism from Britain --, but has also led to economic news taking centre stage, which has highlighted the economic potential of Turkey with or without EU accession.

"We had both Fitch and JP Morgan upgrading Turkey's rating; one the rating of its currency and the other its investment rating, and we had the fact that tourism continued to grow throughput the downturn -- all whilst Turkey continued to survive without an IMF standby agreement. Then in the latter part of last year even reports on the property market turned incredibly positive.

"Whereas before, some or all of these stories may have been missed by global readers; because of the hype around international markets, everyone now knows that Turkey has a robust economy with incredible potential for growth. The property market is now attracting its fair share of overseas investors, as well as more lifestyle buyers."

Spot Blue is currently marketing properties for sale in Turkey priced from £25k.

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