Credit Crunch 'Not Denting Consumer Confidence'

Article Date : 18 January 2008

Worldwide economic problems are not having a negative impact on overseas property investors, an expert has revealed.

Dominic Whiting, editor of the Buying in Turkey guide, said issues such as the credit crunch and the possibility of a global recession had not dented consumer confidence.

He stated that British buyers were instead looking to fast-growing property markets that offered both lifestyle and financial benefits.

Turkey was highlighted as one such location, due to attractions such as its good weather, leisure facilities and relatively cheap house prices.

Mr Whiting commented: "The affordability of Turkish property, particularly compared to Spain and Portugal, is a major attraction for British buyers."

He added that a record number of tourists - about 25 million people - were expected to visit the country this year.

This means that demand for rental accommodation should be high in many of Turkey's biggest tourist hotspots.

Meanwhile, the Turkish Daily News has reported that the country's government is planning to launch a multimillion pound advertising campaign.

More than £70 million will be spent on promoting both established and lesser-known tourist attractions overseas.

Credit Crunch 'Not Denting Consumer Confidence'

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