Second home buyers have been told that property for sale in Turkey could be snapped up relatively cheaply. According to the Times, a residence along Turkey’s south coast can cost as little as £35,000. As a result, areas such as Bodrum and Antalya are becoming very popular with buyers from other countries, in particular the UK.

The newspaper said that many of these people are buying in order to benefit from future growth in the market, some of which many be trigger by possible political developments. “Investors are expecting a big increase in property values if Turkey’s negotiations for EU membership succeed,” the Times commented.

The publication added that property values in Turkey are currently well below the EU average.

Earlier this week, the Turkish Statistics Institute revealed that during the first quarter of 2008, the country’s gross domestic product was 6.6 per cent up on the same point of 2007.

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Conditions are right for the value of housing in Turkey to rise during the next few years, according to a property expert. A recent report in the Turkish Daily News suggested that overseas property investors are starting to take an interest in the area around Bodrum. It stated that although prices have risen to a level most locals could no longer afford, people searching for property for sale in Turkey could find value for money, as houses are still much cheaper than in similar resorts in Italy, Greece and Spain.

Ian Jones, director of investment at fund manager Codrea Savills, told Reuters that he expected prices to continue climbing in the country for a number of reasons.

He explained: “This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent.”

Mr Jones added that although the Turkish economy is slowing, it is doing so from a very strong position.

Via: http://www.realestatetv.tv

A large number of people from the UK are set to fly to hot and sunny locations overseas next month, a travel firm has revealed.

Lastminute.com stated that some schools are offering staggered school holidays because Easter was relatively early this year.

Since this means many families have a break in April in the wake of the recent Bank Holiday weekend, some are choosing to spend this time away from the poor weather at home.

John Bevan, managing director of Lastminute.com, observed: “The unusually cold weather has led to incredible demand for late Easter sun holidays.”

Egypt was highlighted as one of the most popular destinations for spring holidaymakers, in particular the Sharm-el Sheikh resort.

The Turkish resorts of Bodrum and Antalya were flagged up as further hotspots for British travellers.

Earlier this month, research by Holiday Inn found that many people are choosing to stagger their holidays throughout the year.

The company said this can be more cost-effective than traveling abroad during the peak tourist season.

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