Property in Turkey no longer a good investment.

Just got back from Side in Turkey, good weather, friendly locals, interesting history and some attractive scenery.

But unfortunately the investment opportunities for holiday property have now just about gone.

In recent years the Turkish holiday property builds have boomed, but the rental demand has not materialized resulting in massive over supply. I also found a complete lack of regard to native building traditions and culture in the rush to build, resulting in unsympathetic developments, urban sprawl, and in the later projects, cramped developments to maximise profit for the developer.

I also found unrealistic property prices quoted to foreign visitors, compared to the Turkish domestic market.

All the above, together with the current uncertainties in the economic climate makes Turkey a poor investment opportunity.

www.telegraph.co.uk

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