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Turkey 'a cheaper place to live'

Posted on Monday, 02 November 2009 12:39PM by
Expats could be attracted to Turkey by its low cost of living, it has been suggested.

Turkey cost of living is 60 per cent less than in the UK, something that might tempt those considering buying in the country.

According to Deutsche Bank, Turkey is set to see five to six per cent price rises annually over the next ten to fifteen years.

Speaking to the Financial Times earlier this month, founder of broker Istanbul Mortgage said the current climate of low interest rates, affordable housing and plentiful mortgage supply makes now a good time to invest in property in the country.

Turkey will remain a popular location with Britons taking overseas holidays next year because of its favourable exchange rate, American Express has predicted.
Turkey and Egypt are set to remain as popular tourism destinations in 2010, according to American Express.

Figures from the firm's Global Foreign Exchange Services Currency Index showed that the two countries became increasingly popular this year as summer holiday destinations, with more favourable exchange rates with sterling than the euro.

This saw a 60 per cent year-on-year rise in demand for Egyptian pounds and a 26 per cent increase for Turkish lira.

Such a trend is likely to continue next year, the firm predicts, which could make these countries a good place for those investing in tourist property to buy.
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