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Istanbul ‘full of opportunities'

Thursday, March 04, 2010

Turkey is an increasingly attractive option for holidaymakers and second home buyers, experts have claimed.

Savvy investors are turning their attentions to rapidly growing cities such as Istanbul, the economic powerhouse of the country, which has a significant housing deficit.

 "The success of Istanbul's property market is a simple matter of supply and demand," says Steven Worboys, MD of Experience International.

David Richardson, of Property Sun Turkey, added: "Property prices are undervalued so there's an opportunity to make good money in Istanbul - up to 40 per cent profit - in the next two years for a well-chosen off-plan investment. But for most foreigners, I'd recommend a medium-term, five-year investment strategy as capital gains tax is nil after that period."

Earlier this year, Channel 4's A Place in Sun predicted Turkey would be one of the top five locations for property investments in 2010.

Source: www.belfasttelegraph.co.uk

 

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