Attractive prices boosting Turkish property market

A slight dip in property prices is likely to fuel increased interest in Turkey as an overseas investment destination this year, it has been claimed.

With property in Istanbul now more affordable as a result of the economic downturn, a growing number of investors are expected to seek purchases in the Turkish capital, according to propertywire.com.

One Istanbul-based agent told the website: "While the expense of property in Istanbul may previously have prevented some buyers from entering the market, the economic slowdown has recently pushed prices down, creating bargains in desirable locations."

An increase in tourists is expected to support the market for holiday homes in Turkey this year, with many holidaymakers from Europe choosing the country due to its favourable exchange rate.

In addition, Istanbul's profile as an international city is set to rise further as preparations continue for 2010, when the historic metropolis has been designated a European Capital of Culture.

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