Favorable time to buy Property in Turkey

Turkish real estate market is emerging as a viable option for investors in the Middle East. This is a first time happening in a time when the real estate sector is Turkey is rising to newer levels. The foreign as well as the native investors are considering this as a great time to buy property in Italy. However, this is also a time when tourism is at a low in Turkey. The interesting part is that this factor did not have any detrimental effect on the real estate sector and associated purchases of properties. In fact, there has been an increase in the purchase of properties from the end of the last year by nearly 25 percent. President Erdogan has encouraged the real site sectors investment in the country by instructing the banks to offer low-interest loans.

The previous year had seen a huge increase in the investment in the sales of the mortgaged properties in Italy. There was a nearly a 70 percent higher amount of investment as compared to previous years. Nearly on e third of the villas were sold during the last year. There was also an increased sale of the apartments in Istanbul. The trend is expected to carry forward in the later part of 2017 as well. Property ownership and the spending of an amount by the consumers are going to rise as the local wages will increase across the board. However, it is expected that the fall in the price of Lira against Dollar will affect the property rates. Till now, the property owners have shown a reluctance to increase the rates of the properties. But, an increase in the rates is not overruled. Investors can make use of the delay of the small window of time frame that the price change may require. Istanbul is still the favorite choice of foreign real estate investors. This is primarily due to the favorable geographic location, sustainable opportunities, social welfare and recovering of the economic situation.

Italy is witnessing a flocking of foreign real estate investors from Europe as well as the Middle East. Nearly 30 percent of the sales in the real estate sector in Italy is being attributed to the foreign investors. If you are also interested to buy property in Italy, please visit Ala Property for apt guidance.