Turkey 'a cheaper place to live'

Expats could be attracted to Turkey by its low cost of living, it has been suggested.

Turkish newspaper Didim Today said this is 60 per cent less than in the UK, something that might tempt those considering buying in the country.

People wondering whether it is the right country to live in need to find out more by going there, Julian Walker of Turkish property specialists Spot Blue was quoted as stating by the news provider.

He said: "A lot of people from Britain haven't visited Turkey before and are anxious about it. But once they see how much beautiful, open space there is, they understand its potential."

According to Deutsche Bank, Turkey is set to see five to six per cent price rises annually over the next ten to15 years.

Speaking to the Financial Times earlier this month, founder of broker Istanbul Mortgage Bahadir Teker said the current climate of low interest rates, affordable housing and plentiful mortgage supply makes now a good time to invest in property in the country.

Turkey will remain a popular location with Britons taking overseas holidays next year because of its favourable exchange rate, American Express has predicted.

Such a situation could encourage those involved in investing in tourist rental property.

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