Currency Calculator

Use the currency calculator to calculate the rate of exchange.

GBP Flag

1 GBP = 1.11515 EUR

EUR Flag

1 EUR = 0.88745 GBP

Change Currencies Currency Providers

Turkey hailed as secure property investment option

compare money transfer advert

Turkey as secure property investment

Turkey could be the ideal option for overseas property buyers who are looking to make a secure investment, an expert has suggested.

According to Nick Marr, director at Homesgofast.com, the Eurasian country is currently "on the up" and people generally feel safe entering the market.

Indeed, he said Turkey is "hitting the right spot" at the moment, partly thanks to the emergence of Belek and other luxury areas.

Mr Marr noted that the fact the country is not part of the eurozone also makes it attractive, as the financial bloc is currently going through a lengthy sovereign debt crisis.

However, prospective overseas property buyers were advised that a person's chosen market depends partly on precisely why they want to buy real estate outside the UK.

For instance, Mr Marr said many lifestyle buyers are looking towards Spain in order to take advantage of "massive bargains" on a home for their retirement.

Meanwhile, he noted investors who want to make money from their purchase are increasingly looking towards Brazil, as it offers low real estate prices and good growth potential.

Thailand was flagged up as another hotspot of activity, as the Asian nation appears to be recovering from its recent political turmoil and many bargain properties are available right now.

Mr Marr has advised anyone looking to buy a property in another country to be particularly careful when it comes to exchange money transfers.

He noted that banks typically charge much higher rates than specialist brokers. As a result, buyers could lose thousands of pounds if they do not do their research in advance and shop around for the most competitive deals.

Mr Marr added that would-be overseas property buyers should make sure they have an exit strategy in place when they make their initial purchase.

This, he said, means they must think about "who they can sell to or if they buy for short-term gain or quick profit".

Leave a comment

What's the press saying about our company?

Top 5 Foreign Exchange Companies