Turkey and Cyprus best for overseas opportunities
19 October 2009
The latest research from international property investment network firm ROPUK has revealed that Cyprus and Turkey provide the best overseas opportunities for UK investors.
ROPUK's ratings system, which is designed to help brokers judge a property market's viability for investment opportunities, ranked Cyprus in first place due to its stable economy, straightforward property purchase process and potential for growth.
Turkey claimed second spot as the research showed it had a strong legal system which offered protection to buyers.
Mark Nicholls, operations director at UK Mortgages Abroad, said it had seen an increase in enquiries for Cyprus and Turkey.
He said: "These countries are proving very popular. The cost of living is cheap and property prices are very low meaning people can buy at a good price
and live comfortably."
Kevin Maddison, chief executive of ROPUK, said that although the countries offered the best opportunities at the moment, brokers had a duty to ensure they completed the correct due diligence to see if an investment had long-term viability.
He said: "Choosing an international property investment for a client is more than just looking for a return and advisers must look at all issues in a potential market."
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