“Kathleen, I was reading your best places to buy and wondered why you had not suggested Turkey. I myself am selling a property there right now, at a loss I might add.
“They are overdeveloping in parts of Turkey just like they did with Spain, in particular around Alanya. I am unsure if I have done the right thing by deciding to sell now, having heard that it is the best time to buy and that prices are likely to go up!
“I wondered if you had any thoughts on this. Also many Russians are buying into this area, and I do hear that some people are selling because of that alone. I would really appreciate your thoughts.
“Thank you so much.”
–Beth N., United States
Resident global property expert Lief Simon replies:
I haven’t paid much attention to the Turkish real estate market until recently. I know that, yes, as you suggest, some parts of that country’s coast have been developed like the coast of Spain has been developed—which is to say badly and without proper planning.
However, I do think there could be opportunity in Turkey now and that prices could be poised to appreciate. Kathleen and I are planning a two-week visit to the country in early July. I’ll have more to report then.
Continue reading: Why An Attorney Is So Important When Buying Property Overseas
