Holiday Rentals News - 'Turkey to become holiday home hotspot'

'Turkey to become holiday home hotspot'

British holidaymakers who are fond of Turkey might want to consider buying a holiday home there as new regulations mean that non-residents can now take out mortgages.

Previously, investors from outside Turkey would have had to pay for property in cash.

However, rising inflationary pressures, which caused an increase in house prices, led the government to the decision to change the regulations in order to ensure the market did not collapse.

RightmoveOverseas predicts that Turkey, which is already popular with UK holidaymakers, is set to become a holiday home hotspot, with more Britons now being able to purchase property in the European country.

Justin Figgins, head of RightmoveOverseas, said: "This change means that foreigners can now obtain Turkish mortgages; which will inevitably lead to an influx of investors to the Turkish coastal resorts where the real bargains are.

"Having access to Turkish mortgage finance will undoubtedly generate a surge in demand from buyers."
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