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Expatriate Insurance News: Overseas property buyers on the rise in Turkey

Expatriates appear to be taking an increased level of interest in Turkey, with the number of properties purchased by overseas buyers on the rise.

Indeed, a recent press conference, held by the Turkish Real Estate Investing Partners Association (GYODER), revealed that sales of Turkish property to foreigners rose by 40 per cent between 2009 and 2010.

In terms of value, sales to this sector of the market were estimated to be worth around $2.5 billion (£1.53 billion).

Julian Walker, managing director of Turkish property agents Spot Blue, suggested that Turkey has learned its lessons from other Mediterranean property markets and "steadily increased its real estate offering to foreigners without over stretching resources or demand".

Meanwhile, president of the GYODER Ipyk Gokkaya said that the increase in sales is thanks to a rising level of confidence in Turkey.

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