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In 2005 more than 21 million tourists visited Turkey and more than 25 million are expected during 2006. This figure is expected to double over the next few years making turkey one of the hotspots of the European Mediterranean.
Property prices have been steadily increasing. You can buy property for as little as £20,000 and right up to £200,000. The price will of course depend on the location of the property, quality of material used in construction, architectural features and the availability of local services. Turkey started full EU-membership talks in October 2005 which are factors which will contribute well for the stability of the Turkish property market.
Foreign Nationals owning in Turkey.
According to the law on property purchase by foreigners in Turkey enacted in January 2006 specific foreign nationals are now able to acquire real estate in Turkey and as a result of this move the mortgage market has reacted by opening up slowly to this new found market.
The market is new and untested and will take a considerable time from application to formal mortgage offer.
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Mortgages are available in Turkey for English, Irish German and Dutch Nationals only and cover the following regions:- Turkish Riviera includes for example: Akbuk, Alanya, Antalya, Ayvalik, Balikesir, Belek, Bodrum, Cannakkale, Datca, Didim, Fethiye, Izmir, Kalkan, Kusadasi, Mahmutiar, Mersin, Mugia & Turgutreis.
Please note, that if the property is Rented, the Interest Rate is increased by 0.50% for all schemes throughout the mortgage term
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* Max age 75
* Max 75% LTV
* Min loan €40,000
* Rates from approx 6.10% fixed for 1 year in Euros or approx 7.10%
* Fixed for 1 year in Sterling. Fixed Rate loans over 3 and 5 years, also available.
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* Maximum Term 20 years
* Currencies: Euros and Sterling only
* Repayment only
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Apply Here (or see the list on the left): We use Conti Financial to help arrange your mortgage. Please complete their enquiry form and supply as much information as possible to help them to find you your ideal mortgage in Turkey or any other country.
Think carefully before securing other debts against your home. Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage.
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