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Turkish planning restrictions 'good for investors'

Article Date : Monday, October 15, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Overseas buyers in Turkey are likely to benefit if new planning restrictions are introduced, according to one company.

Nirvana International said that plans to impose restrictions on new property developments would be good for investors as they would be less likely to buy in an overdeveloped area.

Different parts of the country would be able to retain their "special appeal", thereby making them viable holiday destinations for a longer period of time.

Robert Dixon, director of UK operations at Nirvana International, added that greater government control would help protect "vast areas" of Turkey that would otherwise be threatened by excessive development.

He commented: "We see it as an absolute bonus enabling buyers to purchase homes knowing they will not be blighted by high-rise apartments and an untenable density."

Mr Dixon described the Turkish property market as "buoyant", adding that people could acquire a residence for a much lower price than in other countries such as Spain.

Earlier this year, Nirvana International said the country offered the potential for a rental yield for 12 months of the year, due to its consistently good weather and popularity with tourists.
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