Turkish Property Market Leadiing the Recovery Charge

The Turkish property market is to be among the biggest benefactors of increased activity from British buyers in the overseas property market. That is according to UK based Turkish property Agents Spot Blue. They wrote on the company blog:

"Turkey is set to be one of the biggest benefactors of the market revival, which is largely fuelled by the return of British buyers.

"This is because, with the deficit between the Euro and Sterling potentially cancelled out forever, Turkey is one of the few places within easy range of Britain where we Brits can enjoy the cheap holidays in the sun that have made us famous around the world. Cheap holidays means cheap property, and many buyers are finding Sterling's current strength against the Lira a massive benefit in their holiday home purchase."

I can't disagree with them in the slightest. I had thought that Sterling was going to regain the ground it lost against the Euro. But this was based more on the Patriotic belief that the Pound would always be stronger than the Euro and it would automatically need to regain that ground. I realised this today after reading the SB post. It hit me that there is no reason why Sterling would automatically be stronger than the Euro, and certainly not by the amount that it used to be.

It is also a fact that Brits like to live more lavishly than they can afford to at home when they are on holiday, and that they use the strength of the Pound to make this a reality. Now that they can't do this in Spain or any other Eurozone country, then they are looking outside the Eurozone for their sun-searching. Turkey, with its developed infrastructure, good accessibility and growing reputation is a firm favourite.

It is also true that the destinations Brits fall in love with on holiday is where they buy their second home, and as a result thousands of Britons have already bought property in Turkey. This is especially true of Turkey, because property is a lot less expensive than it is in the likes of Spain, so more of the holiday makers can afford to buy property in Turkey.

So now, as the reports circulate of an industry in recovery as Brits start buying again, of course the Turkish property market is going to be leading the recovery charge.

Spot Blue is one of the UK's largest Turkish property agents, with property for sale in Turkey priced from £25,000.