Buyers should take advantage of bargain property in Turkey
05 February 2009
Vice chairman of Istanbul Chamber of Real Estate Commission Agents, Nizamettin Asa, is urging people to take advantage of bargain property in Turkey.
According to Mr Asa, the recent property market slowdown in the nation means people can pick up property quite cheaply at the moment, however, he warns that this may not be the case for long if interest rates continue to fall.
"There is a general expectation that prices and interest rates will be going even lower. Let's assume that interest rates go lower; you won't be able to find apartments with today's low prices. When interest rates drop, prices go up. This is the way the market works," he states.
Mr Asa adds that are some good property investment opportunities available in the nation, suggesting that people take a chance as they do not know what will happen in the coming months if the Turkish economy recovers.
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