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Record number of Britons buying property in Turkey (2010-07-02)"

Record number of Britons buying property in Turkey (2010-07-02)

Affordable property prices, low living costs and easy access from the UK are believed to have contributed to the dramatic rise in British property owners in Turkey in the past few years.  

According to data released by the Turkish General Directorate of Land Registry, over 63 million square metres of property in Turkey is now owned by foreigners.

Britons possess the largest amount, at 6 million square metres, followed by the Germans, who own 3.5 million square metres, and the Greeks with 3 million square metres.

The province of Muğla, on the Aegean coast, is particularly popular, with almost 5.5 million square metres owned by foreign nationals.

Turkey's location outside the euro zone means that many property prices are fixed in sterling, and 70% LTV mortgages are increasingly available for foreign buyers.

Low-cost airline Monarch announced this year that they were increasing the number of flights to the country.

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