The Federal Reserve in the United States has now cut their prime interest rate three times in as many weeks in an attempt to stave off a recession that many believe has already arrived. Unfortunately the US Real Estate market, which is dominated by long term fixed rate mortgages will not benefit from these cuts in the same way as home-owners in European countries do.

The problem lies in the historic nature of mortgage lending which varies considerably in the US from the standard model used across Europe. In the US it is commonplace to take out a mortgage with a twenty-five year fixed rate at the time of purchase, rather than rely on the fluctuating standard variable rate mortgage that is more commonplace in the UK and across Europe.

Standing between the Eastern and Western tradition, Turkey is today one of the hotspots of Europe. The Turkish Riviera, also known as “The Turquoise Coast”, encompasses thousands of kilometers of shoreline, crystal clear waters, and it is literally strewn with ancient cities, harbors, memorial tombs, beaches, little coves, lush forests and streams.

Purchasing properties located somewhere along the Turkish Riviera is becoming an increasingly profitable business with more and more home owners and real estate investors coming from around the globe. The combination of a favorable climate, warm sea, the hospitality of Turkish People, and abundant natural and archeological points of interest makes this stretch of Turkey’s coastline a popular destination.