Turkey popular for retirement

Older people who wish to spend their retirement abroad are mainly favouring property investment in southern European countries, according to an expert.

Allan Williams of London Metropolitan University stated that the region is popular because it has a very mild climate. Other factors they take into account when deciding where to buy include lifestyle, culture, quality of infrastructure and the cost of living.

Spain is still the most popular place for older people wishing to retire in the sun but more and more are attracted to Turkey which is seen as having a stable government and striving to meet regulations to join the European Union.

'When we look at 2008 it is easy to say there will be busy migration traffic of the retired and that Turkey will host a considerable amount of this,' he said. Mr Williams has tipped Antalya to be a major hotspot for retirees in future years. According to figures from Dokuz Eylul University, 13,832 retired foreigners now live in the region.

This comes after a recent poll of expatriates by Nat West revealed that the vast majority believe they are financially better off now that they live abroad.

This is backed up by the real estate industry. RightmoveOverseas.co.uk says Turkey currently accounts for about a fifth of the enquiries it receives regarding retiring overseas.

'Once a market is established, people think - forget about going two to four weeks a year - why don't we just move out there entirely?' said Justin Figgins, website director.

The fact that Turkey is more accessible is one of the major reasons why more people are investing. According to official figures there are 73,000 properties in Turkey owned by foreign nationals.

Antalya is also attractive because of its sunny climate, good beaches, historical and cultural attributes and its various leisure facilities, including golf courses.

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