Interest from holidaymakers is likely to last all year round
Tuesday, July 20, 2010
Property investors looking for the best place to buy in Europe should consider looking at the Turkish real estate as the interest in the country from holidaymakers is likely to last all year round.
According to the Turkish Culture and Tourism Office, the potential for winter and summer holidays in the destination will ensure that interest remains high. Irfan Onal, director of the UK office said that the naming of Istanbul as the European Capital of Culture has helped to bolster individuals' awareness of Turkey as a travel hotspot. He said that with many Mediterranean cruises stopping off there and with low-cost airlines servicing it, it is expected to attract many foreign visitors this year.
Today's Zaman stated that the province of Antalya, located along the Mediterranean coastline will experience temperatures of 23 degrees C. Tourists to the region are said to be enjoying the chance to experience some winter sunshine. According to Obeliks Investment Property, the country's winters might not be as warm as those enjoyed by its rival Egypt; its summer season is long and substantially cooler than its competitor. Furthermore, investment properties have risen as the country has garnered a reputation as top tourist destination.
Meanwhile, Tourism expert Dominic Whiting has described the country as "one of the premier yachting destinations in Europe", adding that a combination of good weather year round, low fees and "dramatic, unspoilt scenery" made it an ideal spot for cruise and yacht lovers.
In related news, Istanbul, Bodrum, Marmaris and Antalya are just some of the resorts that boast modern marinas, while four more marinas are being constructed or planned.
Social BookmarkingAccording to the Turkish Culture and Tourism Office, the potential for winter and summer holidays in the destination will ensure that interest remains high. Irfan Onal, director of the UK office said that the naming of Istanbul as the European Capital of Culture has helped to bolster individuals' awareness of Turkey as a travel hotspot. He said that with many Mediterranean cruises stopping off there and with low-cost airlines servicing it, it is expected to attract many foreign visitors this year.
Today's Zaman stated that the province of Antalya, located along the Mediterranean coastline will experience temperatures of 23 degrees C. Tourists to the region are said to be enjoying the chance to experience some winter sunshine. According to Obeliks Investment Property, the country's winters might not be as warm as those enjoyed by its rival Egypt; its summer season is long and substantially cooler than its competitor. Furthermore, investment properties have risen as the country has garnered a reputation as top tourist destination.
Meanwhile, Tourism expert Dominic Whiting has described the country as "one of the premier yachting destinations in Europe", adding that a combination of good weather year round, low fees and "dramatic, unspoilt scenery" made it an ideal spot for cruise and yacht lovers.
In related news, Istanbul, Bodrum, Marmaris and Antalya are just some of the resorts that boast modern marinas, while four more marinas are being constructed or planned.
Labels: Antalya, Holiday-property
Turkish property investment could reach a new high in 2010
Sunday, July 18, 2010
Turkish property investment could reach a new high as research shows that with a record number now owning property in the emerging European destination.
According to the land registry figures, Nearly 32,000 Brits now own real estate there and the market remains stable with no signs that interest in buying homes from overseas investors will fall in the future. European buyers have been drawn to Turkey thanks to its relatively cheap prices, low cost of living and accessibility from the UK.
The results of the survey, conducted by intotheblue.co.uk revealed that as many as 34 per cent of Brits were keen to emigrate within the next decade, with 86 per cent of them looking to move to a warmer climate and 18 per cent looking to reduce their cost of living. These make Turkey an ideal destination for those wanting to escape the severity of life in Britain. Furthermore, Turkey is the ideal destination for individuals who are looking to avoid the turbulent housing market in Spain. The latest figures from Standard and Poor's credit analysis has reported positively to Turkey's future thanks to the relative stability it experienced during the economic crisis.
And more good news is, Turkey has also been cited as a destination which will see considerable growth in its tourism market in the next few years, research company RNCOS announced.
Social BookmarkingAccording to the land registry figures, Nearly 32,000 Brits now own real estate there and the market remains stable with no signs that interest in buying homes from overseas investors will fall in the future. European buyers have been drawn to Turkey thanks to its relatively cheap prices, low cost of living and accessibility from the UK.
The results of the survey, conducted by intotheblue.co.uk revealed that as many as 34 per cent of Brits were keen to emigrate within the next decade, with 86 per cent of them looking to move to a warmer climate and 18 per cent looking to reduce their cost of living. These make Turkey an ideal destination for those wanting to escape the severity of life in Britain. Furthermore, Turkey is the ideal destination for individuals who are looking to avoid the turbulent housing market in Spain. The latest figures from Standard and Poor's credit analysis has reported positively to Turkey's future thanks to the relative stability it experienced during the economic crisis.
And more good news is, Turkey has also been cited as a destination which will see considerable growth in its tourism market in the next few years, research company RNCOS announced.
Labels: British, Investment-property
Investment inflow to Turkey to pick up in 2011
Saturday, July 17, 2010
Foreign direct investment (FDI) inflow to emerging countries in Europe is expected to increase by more than 40 percent in 2010.
Social BookmarkingAccording to Institute of International Finance (IIF) forecast, FDI inflow to emerging countries, including Turkey will receive 43 percent more FDI this year.Turkey's USD 18.2 billion of FDI received in 2008 lifted the country’s ranking to 20th from its previous 25th in the global FDI recipients’ list. The country is ranking 9th in the list of emerging countries. Zafer Caglayan, Turkey's Minister of State said Turkey attracted foreign capital worth more than USD 75 billion between 2003 and 2009. Caglayan emphasized that Turkey has also become successful in terms of foreign capital with its political and economic stability.
Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT) said that the flow of this year's foreign direct investments (FDI) to Turkey is expected to reach a level between USD 7-10 billion. He said that although the inflow of investments slowed during the last two years due to the global financial crisis, Turkey still managed to attract USD 7.6 billion of FDI even in a time of economic uncertainty.
Meanwhile, The Turkish Treasury issued incentive certificates for 348 investment projects worth TRY 3 billion 722.4 million in May. The investment incentive certificates for May were published in the Official Gazette and this will create a total of 10,950 jobs. This is expected to boost the house sale market.
Labels: Economy
Plans to build a modern port for cruise ships in Izmir
Tuesday, June 22, 2010
Izmir port which is Turkey's second busiest port after Istanbul, will receive a hefty amount of investment to make it one of the top five port cities in Europe. Turkey's biggest city on the Aegean coast is about to have a port for cruise ships that lives to its reputation.
Izmir is Turkey's third largest port and has the best natural harbor. Plenty of ships can load and unload simultaneously, but Izmir is primarily a discharge port for tankers. Binali Yildirim, Turkey's Minister of Transportation and Communication said Izmir port will receive investment worth TRY 450 million whioch makes it a candidate for inclusion among the top five European naval ports. He said that the port will be divided into two sections: one for container and one for cruise shipping. new docking facilities for cruise ships are planned in order to increase the number of passengers.
Once the upgrades in the port have been completed, the number of cruise passengers visiting Izmir, which is around 400,000 a year, may increase threefold. The build-operate-transfer method will be used for the financing of the project , said Mr. Yildrim.
Social BookmarkingIzmir is Turkey's third largest port and has the best natural harbor. Plenty of ships can load and unload simultaneously, but Izmir is primarily a discharge port for tankers. Binali Yildirim, Turkey's Minister of Transportation and Communication said Izmir port will receive investment worth TRY 450 million whioch makes it a candidate for inclusion among the top five European naval ports. He said that the port will be divided into two sections: one for container and one for cruise shipping. new docking facilities for cruise ships are planned in order to increase the number of passengers.
Once the upgrades in the port have been completed, the number of cruise passengers visiting Izmir, which is around 400,000 a year, may increase threefold. The build-operate-transfer method will be used for the financing of the project , said Mr. Yildrim.
The Izmir Chamber of Commerce, or İZTO, and Costa, an Italian cruise firm, have joined forces to built one of the most modern ports in and the two parties have signed a booking note for the $75 million investment. Ekrem Demirtaş, president of the İZTO ruling board, said eight cruisers would be able to anchor at the port side by side at the same time. He said tourism had great importance in their vision of Izmir and added that when they started to work on cruise-based tourism in 2004, Izmir was a zero in the area.
Demirtaş pointed out that through this project the number of cruise passengers visiting the city reached 320,000 and this year 360,000 tourists were expected from 136 ships which is good news for rental property investors.Demirtaş said they will push 400,000 tourists with constantly added ships and added that the new target is having 1 million cruise passengers visiting every year to compete with cities like Barcelona which is visited by 2.1 million.
Demirtaş pointed out that through this project the number of cruise passengers visiting the city reached 320,000 and this year 360,000 tourists were expected from 136 ships which is good news for rental property investors.Demirtaş said they will push 400,000 tourists with constantly added ships and added that the new target is having 1 million cruise passengers visiting every year to compete with cities like Barcelona which is visited by 2.1 million.
Labels: Infrastructure, Izmir, Market-Trends
ISTANBUL REstate Fair offers investment opportunities
Monday, June 21, 2010
As one of the most important events in the world of real estate, The Turkish Real Estate Summit and Istanbul REstate 2010 Fair held from 15-17 June that bring together many participants from Europe, the Mediterranean, the CIS and the Middle East have opened their doors to visitors at the Lutfi Kirdar Congress and Exhibition Hall in Istanbul.
Istanbul REstate covers the complete spectrum of the real estate economy and business. Nearly 150 speakers will participate and more than 100 domestic and foreign projects will be promoted in the summit. The fair is organized by the Turkish Association of Real Estate Investment Companies (GYODER). The Regional Conference on South Eastern Europe and Turkey will also take place at the fair. Turgay Tanes, Chairman of GYODER, states that even with its first edition, “ISTANBUL REstate plays a very important role in the real estate sector, promising a future and offering investment opportunities.”
In 2009 event, exactly 52 exhibitors from 11 countries presented their projects and services in Rumeli Hall from the June 2-4, 2009. A total of 2,700 participants from 23 countries were registered during the three days of the event. Matthias Limbeck (DI), New Business CEO for fair organizer Reed Exhibitions in Austria said that the fair was “quite satisfactory” when considering the global financial and economic crisis and the severely affected real estate industry.
Iþyk Gokkaya, Chairman of Y&Y, said that this fair has become a substantial contact point for the real estate industry in terms of providing many opportunities and know-how exchange in addition to meeting with high profile visitors. “It seems that ISTANBUL REstate will achieve to become the meeting point of regional real estate industry, ” he added.
Social BookmarkingIstanbul REstate covers the complete spectrum of the real estate economy and business. Nearly 150 speakers will participate and more than 100 domestic and foreign projects will be promoted in the summit. The fair is organized by the Turkish Association of Real Estate Investment Companies (GYODER). The Regional Conference on South Eastern Europe and Turkey will also take place at the fair. Turgay Tanes, Chairman of GYODER, states that even with its first edition, “ISTANBUL REstate plays a very important role in the real estate sector, promising a future and offering investment opportunities.”
In 2009 event, exactly 52 exhibitors from 11 countries presented their projects and services in Rumeli Hall from the June 2-4, 2009. A total of 2,700 participants from 23 countries were registered during the three days of the event. Matthias Limbeck (DI), New Business CEO for fair organizer Reed Exhibitions in Austria said that the fair was “quite satisfactory” when considering the global financial and economic crisis and the severely affected real estate industry.
Iþyk Gokkaya, Chairman of Y&Y, said that this fair has become a substantial contact point for the real estate industry in terms of providing many opportunities and know-how exchange in addition to meeting with high profile visitors. “It seems that ISTANBUL REstate will achieve to become the meeting point of regional real estate industry, ” he added.
Labels: Exhibition, Istanbul
Investment in Turkish property is better than gold
Monday, June 14, 2010
Turkish property market has become "one of the main countries for foreign property investment" from UK nationals as Investment in Turkish property provides better value than gold.
According to The Hurriyet Daily News, the property firm Sinpas claims not one of its projects in the past ten years has lost value in the market. The comments were made as the company outlines its campaign for property in the country in 2010. Sinpas is a firm which has been dealing in both residential and commercial property in the country for over 30 years.
Ahmet Celik, managing director of Sinpas said that gold, Turkish Lira deposits, the euro and the US dollar have lost value many times in the past decade. However, Turkish real-estate projects have always given the best value for investors. He said Even gold cannot compete with it. Foreign Property Buyer described the Mediterranean country as a "land of promise" for those who are interested in investing in a residence outside of the UK.
Meanwhile, the latest figures from Standard and Poor's credit analysis reacted positively to Turkey's future thanks to the relative stability it experienced during the economic crisis. Daniel Dias, of developer Signature International said that turkey was well placed to learn from the mistakes in the Spanish market.
"Spain's story is a terribly sad case of a property industry that was allowed to boom out of control and ideal replacement for Spain property market," he explained.
Social BookmarkingAccording to The Hurriyet Daily News, the property firm Sinpas claims not one of its projects in the past ten years has lost value in the market. The comments were made as the company outlines its campaign for property in the country in 2010. Sinpas is a firm which has been dealing in both residential and commercial property in the country for over 30 years.
Ahmet Celik, managing director of Sinpas said that gold, Turkish Lira deposits, the euro and the US dollar have lost value many times in the past decade. However, Turkish real-estate projects have always given the best value for investors. He said Even gold cannot compete with it. Foreign Property Buyer described the Mediterranean country as a "land of promise" for those who are interested in investing in a residence outside of the UK.
Meanwhile, the latest figures from Standard and Poor's credit analysis reacted positively to Turkey's future thanks to the relative stability it experienced during the economic crisis. Daniel Dias, of developer Signature International said that turkey was well placed to learn from the mistakes in the Spanish market.
"Spain's story is a terribly sad case of a property industry that was allowed to boom out of control and ideal replacement for Spain property market," he explained.
Labels: Turkish-property
Increasing population helping Turkish property prices
The steady growth of the Turkish population means property prices are likely to carry on rising, according to a recent research.
Overseas Property Professional (OPP) cited research conducted by the Turkish Statistics Institute (TurkStat) and has predicted that as the population continues to grow, the housing stock in the country is likely to "explode". The institute claimed that the property market in Istanbul would be the main beneficiary of the increase in residents, but as population distribution spreads there could also be a rise in the number of people looking at Antalya properties as well.
Steven Worboys, managing director of UK-based agent Experience International said that the continued population expansion is putting pressure on existing housing stock, with the country needs 5.5 million additional homes in Turkey by 2015.
Meanwhile, Ian Jones, director of investment for Cordea Savills had another perspective for rising population and he said that the conditions are right for further upward movement in the value of housing.
He commented: "This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent," he said, explaining why he believes demand for Turkish property will grow”.
Social BookmarkingOverseas Property Professional (OPP) cited research conducted by the Turkish Statistics Institute (TurkStat) and has predicted that as the population continues to grow, the housing stock in the country is likely to "explode". The institute claimed that the property market in Istanbul would be the main beneficiary of the increase in residents, but as population distribution spreads there could also be a rise in the number of people looking at Antalya properties as well.
Steven Worboys, managing director of UK-based agent Experience International said that the continued population expansion is putting pressure on existing housing stock, with the country needs 5.5 million additional homes in Turkey by 2015.
Meanwhile, Ian Jones, director of investment for Cordea Savills had another perspective for rising population and he said that the conditions are right for further upward movement in the value of housing.
He commented: "This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent," he said, explaining why he believes demand for Turkish property will grow”.
Labels: Property-prices
Turkey could soon benefit from an influx of German investors
Monday, June 7, 2010
Turkish economy could soon benefit from an influx of German investors, a media report has stated.
A group of potential investors from Germany led by the Lower Saxony Minister of Economy, Labor and Transportation Jorg Bode are on a visit to Turkey's third-largest city on the Aegean coast. Top officials from 43 German companies, overseeing an annual turnover of EUR 10 billion and more than 50,000 employees, will examine the investment opportunities in Izmir .
Ahmet Guler, European Turkish Businessmen Association's (BTEU) Chairman said that Izmir could become the favorite location for German investors and this is the seventh business visit by delegates from Lower Saxony.
Social BookmarkingA group of potential investors from Germany led by the Lower Saxony Minister of Economy, Labor and Transportation Jorg Bode are on a visit to Turkey's third-largest city on the Aegean coast. Top officials from 43 German companies, overseeing an annual turnover of EUR 10 billion and more than 50,000 employees, will examine the investment opportunities in Izmir .
Ahmet Guler, European Turkish Businessmen Association's (BTEU) Chairman said that Izmir could become the favorite location for German investors and this is the seventh business visit by delegates from Lower Saxony.
Today's Zaman stated that the south-east European country was becoming increasingly popular with various groups, including holiday home owners and investors.
The publication said there are many factors that make Turkey's real estate market attractive for foreigners - and the level of investment is still rising.
Explaining on the country's appeal, Today's Zaman stated that overseas property buyers in Turkey have come from a wide range of countries, including Germany, Belgium, the US, France and the Netherlands.
According to the Turkish Daily News, Turkey's tourism industry could soon benefit from an influx of German holidaymakers. Turkey has been promoted as a holiday destination in various regions of Germany. This could help overseas property owners in Turkey, as they may have more visitors staying in rental accommodation.
The publication said there are many factors that make Turkey's real estate market attractive for foreigners - and the level of investment is still rising.
Explaining on the country's appeal, Today's Zaman stated that overseas property buyers in Turkey have come from a wide range of countries, including Germany, Belgium, the US, France and the Netherlands.
According to the Turkish Daily News, Turkey's tourism industry could soon benefit from an influx of German holidaymakers. Turkey has been promoted as a holiday destination in various regions of Germany. This could help overseas property owners in Turkey, as they may have more visitors staying in rental accommodation.
Labels: Investment-property, Tourism
Dalaman offers exciting property market
Monday, May 31, 2010
Property investors in the UK have been encouraged to consider buying a residence in Turkish region of Dalaman.
According to Foreign Property Buyer, the Dalaman region is opened up by low-cost airlines from major British airports. The improved accessibility is likely to lead to an influx of holidaymakers and investors which in turn will push up demand for rental accommodation in the area. The property prices and rental prices are likely to grow in the region and the frequent flights may make it as an attractive location for buyers who want to purchase a holiday home overseas.
Dalaman, a stopover destination earlier is increasingly gaining reputation more than that now. Increased accessibility could potentially help boost the property market in the Dalaman area, as improved accessibility could lead to more interest from prospective buyers. Furthermore, the influx of additional visitors should help to fuel growth in the region's rental sector.
Rick Green, chief executive of Flyglobespan, commented: "Turkey, with its rich culture, great beach resorts and reputation as a value-for-money destination, is bound to be a winner."
Turkish newspaper Hurriyet has advised property investors that the period of 2010 to 2012 will represent "the next set of golden years for Turkey's real estate market", with property in many of the nation's holiday resorts already in high demand. A large number of properties in coastal locations are being built to satisfy increased demand from tourists, while new developments in various districts of the capital also represent investment opportunities.
"Private investors can consider aiming for investment property to rent out to the tourism market," Hurriyet reported.
Labels: Dalaman
The Turkish property market is bursting with choice
Thursday, May 27, 2010
During this time of economic uncertainty for Euro zone countries, Rental Property investors in Turkey will be pleased by news that experts have predicted that the destination can produce annual rental returns of about six per cent.
Property Wire has reported that Developer Cumberland Properties has made the forecast after the European country defied the odds and increased its visitor numbers in 2009. Over 27 million tourists visited Turkey last year, with the figure representing a 2.8 per cent growth compared to 2008.
Eric Kaya, director of Cumberland Properties, told the news provider that Turkish property prices are still hugely undervalued so there's an opportunity to make really substantial returns on investments in areas such as the Bodrum peninsula. Increase in the number of flights on offer to Turkey, Economic prosperity and improvements in internal infrastructure have enabled more Turkish nationals and overseas holidaymakers to visit Turkey.
Turkish newspaper Hurriyet has advised property investors to prepare for a boom in the market this year. The period of 2010 to 2012 will represent "the next set of golden years for Turkey's real estate market”. New developments in various districts and a large number of properties in coastal locations are being built to satisfy increased demand from tourists.
The publication describes the Turkish property market as "stuffed with choice", as investors have a wide range of options concerning "location, investment approach and target market".
Social BookmarkingProperty Wire has reported that Developer Cumberland Properties has made the forecast after the European country defied the odds and increased its visitor numbers in 2009. Over 27 million tourists visited Turkey last year, with the figure representing a 2.8 per cent growth compared to 2008.
Eric Kaya, director of Cumberland Properties, told the news provider that Turkish property prices are still hugely undervalued so there's an opportunity to make really substantial returns on investments in areas such as the Bodrum peninsula. Increase in the number of flights on offer to Turkey, Economic prosperity and improvements in internal infrastructure have enabled more Turkish nationals and overseas holidaymakers to visit Turkey.
Turkish newspaper Hurriyet has advised property investors to prepare for a boom in the market this year. The period of 2010 to 2012 will represent "the next set of golden years for Turkey's real estate market”. New developments in various districts and a large number of properties in coastal locations are being built to satisfy increased demand from tourists.
The publication describes the Turkish property market as "stuffed with choice", as investors have a wide range of options concerning "location, investment approach and target market".
Labels: Market-Trends
Tourism industry is to receive new investments
Wednesday, May 19, 2010
Property investors in Turkish real estate will be pleased by news that tourist visits to the country jumped last year, with more holidaymakers looking for cheap destinations and also Turkey’s tourism industry is to receive USD 40 billion worth of new investments.
Social BookmarkingWhile Turkey's competitors in the Mediterranean such as Spain, France, Italy and Greece registered a ten percent decline in the number of tourist visits during the worldwide economic downturn, Turkey remained highly popular as a holiday destination and observed a three percent increase in the number of tourists. The Turkish Tourism Investors Association's (TYD) Chairman Turgut Gur said there is a change in the tourism sector as Turkey begins to offer a lot more than the sun, sea and sand.
Mr. Gur said USD 40 billion will be invested in tourism industry over the next five years and added, "We are now focusing on city hotels, not holiday hotels. The total number of beds will rise to 1.5 million, while the number of marinas in the country will reach 65. The number of golf courses will rise to 50 with the addition of 35 new ones”.
Meanwhile, Wybcke Meier, board member of the German Travel Association (DRV and managing director of tour company Oger Tur) said that Turkey will be the winner in tourism in the Mediterranean this year. Regardless of the increased preference for domestic destinations, tourism numbers are up across the board, said Meier, adding that reservations for June in Turkey have surpassed the previous year.
He commented: "Turkey was the most profitable country in terms of the tourism sector in 2009. We observed significant interest for the Aegean region in addition to Antalya. Our sales for Istanbul have gone as planned. There is a ten percent increase in 2010 reservations compared to last year".
In more good news for Turkish rental property investors, Turkey's Limak Group, which is planning to achieve rapid growth in the tourism sector, is currently investing a total of USD 320 million in hotels in Turkey and Turkish Republic of Northern Cyprus (TRNC).
Labels: Antalya, Investment-property, Tourism
Filyos Project is set to transform the Caycuma district on the Black Sea coast
Tuesday, May 18, 2010
Overseas and Turkish companies have shown keen interest in the on the Black Sea coast Filyos Project, which is set to transform the Caycuma district of Zonguldak of Turkey into an industrial base in a few years.
Developed under the supervision of the Investment Support and Promotion Agency of Turkiye (ISPAT), The Filyos Project consists of four industrial zones and a port. The Project has entered its final phase with the necessary nationalization being completed for five kilometers of land and port construction ready to go on tender in a few months. This is expected to give the much needed boost to the property market in the region
The project has already aroused substantial interest among both foreign and domestic companies and 16 potential investors, four of them being foreign, have already reserved a place in the applicants list. ISPAT’s President Alpaslan Korkmaz said that they expect billions of dollars of investments and the creation of thousands of jobs, adding that the groundbreaking ceremonies should start by next year.
Mr. Korkmaz commented: "This is an enormous contribution to the economy and, based on the number of applicant companies up until now, proposed investments have already reached USD 10 billion".
In more good news for investors, Russia's third-largest steelmaker, OAO Magnitogorsk Iron & Steel Works, has said it will build a multi-billion dollar steel factory on Turkey's Black Sea coast.
Social BookmarkingDeveloped under the supervision of the Investment Support and Promotion Agency of Turkiye (ISPAT), The Filyos Project consists of four industrial zones and a port. The Project has entered its final phase with the necessary nationalization being completed for five kilometers of land and port construction ready to go on tender in a few months. This is expected to give the much needed boost to the property market in the region
The project has already aroused substantial interest among both foreign and domestic companies and 16 potential investors, four of them being foreign, have already reserved a place in the applicants list. ISPAT’s President Alpaslan Korkmaz said that they expect billions of dollars of investments and the creation of thousands of jobs, adding that the groundbreaking ceremonies should start by next year.
Mr. Korkmaz commented: "This is an enormous contribution to the economy and, based on the number of applicant companies up until now, proposed investments have already reached USD 10 billion".
In more good news for investors, Russia's third-largest steelmaker, OAO Magnitogorsk Iron & Steel Works, has said it will build a multi-billion dollar steel factory on Turkey's Black Sea coast.
Labels: Beachside, Investment-property
Istanbul continues to lead the way in new property developments
Wednesday, May 12, 2010
Istanbul continues to lead when it comes to new property developments as the Turkish Highways Directorate has sold land in Istanbul for $800 million (~£410 million), Today's Zaman reports.
According to data released by the Land Registry Office, Properties in Istanbul proved to be the most valuable in the country, and the growth of the market shows no sign of slowing with sales revenue increasing by 30% last year. Istanbul's status as a major world city is helping to spearhead this development, with the Turkish capital recently named as a European Capital of Culture in 2010.
According to Hurriyet Daily News, a joint study by PricewaterHouseCoopers and the Urban Land Institute (ULI) for the second year in has found Istanbul leads the way in terms of development expectations for the coming year. Moreover, the city ranked in the top five for real estate purchase expectations.
Istanbul offers better real estate development prospects than any other city, with one of the 400 property specialist respondents claiming "Istanbul will be the star of the next decade".
The news provider also quoted Firuz Soyuer, board member at ULI Turkey as saying that Istanbul emerged as one of the top areas for development. "We will probably see bigger portfolios. Investors might also look toward different areas to spread risk. Maybe shopping streets will come to the fore again," he predicted.
Social BookmarkingAccording to data released by the Land Registry Office, Properties in Istanbul proved to be the most valuable in the country, and the growth of the market shows no sign of slowing with sales revenue increasing by 30% last year. Istanbul's status as a major world city is helping to spearhead this development, with the Turkish capital recently named as a European Capital of Culture in 2010.
According to Hurriyet Daily News, a joint study by PricewaterHouseCoopers and the Urban Land Institute (ULI) for the second year in has found Istanbul leads the way in terms of development expectations for the coming year. Moreover, the city ranked in the top five for real estate purchase expectations.
Istanbul offers better real estate development prospects than any other city, with one of the 400 property specialist respondents claiming "Istanbul will be the star of the next decade".
The news provider also quoted Firuz Soyuer, board member at ULI Turkey as saying that Istanbul emerged as one of the top areas for development. "We will probably see bigger portfolios. Investors might also look toward different areas to spread risk. Maybe shopping streets will come to the fore again," he predicted.
Labels: Istanbul
Reaching Antalya has become easier with the new terminal building
Monday, May 10, 2010
The Turkish province of Antalya is set to become a hotspot for tourists in the near future, with more flights and the addition of a new terminal building to Antalya Airport.
According to the statement issued by ICF Airports, the project was launched last year to provide a new and modern domestic terminal in Antalya. The completion and commissioning of its giant project will cost EUR 100 million. Having paid EUR 2.37 billion, ICF Airports holds the operating rights of Antalya Airport until 2024 and it continues to invest in the infrastructure.
According to Wybcke Meier, board member of the German Travel Association (DRV) and managing director of tour company Oger Tur, Turkey will be the winner in tourism in the Mediterranean this year. In spite of the increased preference for domestic destinations, tourism numbers are up across the board, said Meier, adding that reservations for June in Turkey have surpassed the previous year.
Social BookmarkingAccording to the statement issued by ICF Airports, the project was launched last year to provide a new and modern domestic terminal in Antalya. The completion and commissioning of its giant project will cost EUR 100 million. Having paid EUR 2.37 billion, ICF Airports holds the operating rights of Antalya Airport until 2024 and it continues to invest in the infrastructure.
According to Wybcke Meier, board member of the German Travel Association (DRV) and managing director of tour company Oger Tur, Turkey will be the winner in tourism in the Mediterranean this year. In spite of the increased preference for domestic destinations, tourism numbers are up across the board, said Meier, adding that reservations for June in Turkey have surpassed the previous year.
He commented: "Turkey was the most profitable country in terms of the tourism sector in 2009. In addition to Antalya, we observed significant interest for the Aegean region. Our sales for Istanbul have gone as planned. There is a ten percent increase in 2010 reservations compared to last year".
Meanwhile, a recent report from the Post Office has revealed Turkey as one of the world's top ten destinations for affordable holidays. The Holiday Money Report, which is based on exchange rate movements and local tourism costs, found that Turkey offers an attractive package for budget conscious tourists, particularly those taking a longer break.
In related news, Turkish news provider Hurriyet recently claimed that the rapid growth of the country's tourism industry will contribute to a property boom in 2010.
In related news, Turkish news provider Hurriyet recently claimed that the rapid growth of the country's tourism industry will contribute to a property boom in 2010.
Labels: Antalya, Latest-news
More Regional investments in Konya boost its property market
Friday, May 7, 2010
More globally renowned companies have started to consider investing in the central Anatolian province of Konya which is not only supporting the regional economy but also transform the city into an integral part of the country's economy. These investments are also expected to boost the property sector in the region.
Social BookmarkingRecent investments in various sectors in the province of Konya contribute more than USD 1 billion annually. There are four new universities which have been recently created in the region. Konya’s healthcare sector will receive TRY 300 million of investments in the form of five new private hospitals and the number of hotels with stars will rise to 29 on the back of eight new hotel investments.
Turkish pharmaceutical company Ilko is about to complete its TRY 130 million medicine production plant, in Konya. Located in the Konya Organized Industrial Zone, Ilko’s plant took advantage of investment incentives offered and is expected to employ some 300 people countrywide.
Meanwhile, MGY Automotive Corporation, the Turkish distributor of China’s Dong Feng Motors (DFM), is considering the central Anatolian province of Konya for establishing the production unit. the government says it will focus on investments in eastern Turkey between 2010 and 2012 in the hope of stemming the flow of people from east to west. The government says it will continue to focus on the socio-economic development of “surrounding cities”, with a main focus on turning the 12 key migration cities which includes Konya.
According to property agent Spot Blue, the strength of Turkey's economy has led to its growing appeal with property investors.
Julian Walker, director of Spot blue told Write-about-Property.com that Turkey emerging from recession faster and stronger than many EU countries and this is making Turkish property look like an even better buy to international investors.
She commented: "This, of course on top of its benefits to lifestyle buyers of warm climates, gorgeous coastlines and fantastic value for money, is making Turkish property hot right now."
Julian Walker, director of Spot blue told Write-about-Property.com that Turkey emerging from recession faster and stronger than many EU countries and this is making Turkish property look like an even better buy to international investors.
She commented: "This, of course on top of its benefits to lifestyle buyers of warm climates, gorgeous coastlines and fantastic value for money, is making Turkish property hot right now."
Labels: Economy, Latest-news
