Investors should research market in advance

Article Date : 14 February 2008
News Section: Turkey

Overseas property investors have been advised to research their chosen market before they commit to a purchase.

Paul Collins, editor of the BuyAssociation website, stated that high-growth markets such as Turkey were proving to be popular because house prices are increasing at a fast pace.

This means that people can buy a property in Turkey while it is still relatively cheap and sell it on at a later date for a much higher amount.

However, Mr Collins said the practical application of this theory may be difficult if there is not a strong resale market in that particular location.

He remarked: "It's all very well having a capital gain that's there in theory, but unless you can sell the property on, it's impossible to realise."

The strong potential to collect good returns on investment property in Turkey could explain why it was named as the third most popular overseas investment hotspot in a survey by A Place in the Sun.