Turkish property values set to grow

Overseas property investors could be set to collect healthy returns on property in Turkey, according to a media report.

Business Week praised natural attributes such as Turkey's "stunning scenery" and good weather, but added that the European country also has numerous financial benefits on offer.

For example, property values are relatively cheap when compared with other Mediterranean locations such as Spain or Italy.

This is despite houses being of a comparable standard to those in neighbouring countries.

However, property values in the country are steadily rising in response to high levels of demand.

This means that investors could potentially snap up a house while it is still relatively cheap, let it appreciate in value and then sell it on at a profit.

Business Week commented: "Agents expect prices this year to appreciate by 12.5 per cent."

Meanwhile, ShelterOffshore has suggested that retirees who wish to enjoy a lower cost living in a sunny location set up home in Turkey.