Foreign investors 'looking to sell Turkish property'

Britons who purchased homes in the west of Turkey are beginning to sell their investments, it has emerged.

Hurriyet Daily News has cited a report in local Turkish newspaper Yeni Asir, which stated that foreigners who own villas in places such as Marmaris, Bodrum and Didim have put their properties on the market as they are unable to meet mortgage repayments.

Ilhan Acikgoz, chairman of the South Aegean Tourism Facilities and Hotels Union, told the news source that construction in the area has "come to a standstill".

"There are almost 10,000 ready houses in Mugla, however, people are not willing to buy houses at this time," he added.

The news may be welcomed by British investors who have the finance needed to make a purchase, as they could see an increase in the amount of Turkish property for sale.

Atlas International recently claimed that the country has a "very strong" buy-to-let market, due to the fact that many developers are offering rental guarantees to investors.