Property searches in the web for Turkey is going up
Wednesday, April 29, 2009
Turkey property searches saw a month-on-month rise of 38% in March, according to specialists in Turkish property, Spot Blue.
Spot blue latest figures suggest that 2009 had gotten off to a bright start for Turkey. Julian Walker, director of the firm comments "Things are starting to reach normal levels again, slowly but surely that is. Sales are returning to the kind of levels that exist when we are neither in a boom or decline."
"we were never crushed by this international recession, because we never put all our eggs in one basket, as we continued to offer properties in Turkey based on their quality and appeal to our client base, and to market them to anyone who wanted to buy a property in Turkey, for lifestyle reasons, investment, or both" continued Julian.
Meanwhile, propertytalk Live! Web site revealed that British second-home buyers have dropped the United States as a preferred destination and selected Turkey as their favourite. According to statistics from PropertyIndex. com, Turkey's searches increased by 154 percent in January to February 2009 compared with the same two months last year.
In related news, the average house price searched in Turkey jumped from 74,720 euros in January to February 2008 to 90,155 euros in 2009.
Social BookmarkingSpot blue latest figures suggest that 2009 had gotten off to a bright start for Turkey. Julian Walker, director of the firm comments "Things are starting to reach normal levels again, slowly but surely that is. Sales are returning to the kind of levels that exist when we are neither in a boom or decline."
"we were never crushed by this international recession, because we never put all our eggs in one basket, as we continued to offer properties in Turkey based on their quality and appeal to our client base, and to market them to anyone who wanted to buy a property in Turkey, for lifestyle reasons, investment, or both" continued Julian.
Meanwhile, propertytalk Live! Web site revealed that British second-home buyers have dropped the United States as a preferred destination and selected Turkey as their favourite. According to statistics from PropertyIndex. com, Turkey's searches increased by 154 percent in January to February 2009 compared with the same two months last year.
In related news, the average house price searched in Turkey jumped from 74,720 euros in January to February 2008 to 90,155 euros in 2009.
Labels: Market-Trends, Turkish-property
Ayvalik attracts underwater photographers and divers
Sunday, April 26, 2009
Rich with red coral usually found in the Red Sea and 60 diving points, the town of Ayvalik in Balikesir district on Turkey's north-western Aegean coast has opened for the season, offering underwater opportunities for divers and undersea photographers.
According to the Hürriyet newspaper, Ayvalik is one of Turkey's most important spots in terms of its diverse flora and fauna, which make it a competitor of the Red sea and the Publication, underlined the importance of the red coral in the area’s tourism value.
Kemal Çalışkan, diving instructor and owner of a diving centre, explained "The red coral, believed to have taken its color from the mineral-rich Mountains by the shores of the Red Sea, may spread in seas with warm climates." He added that the red coral creates an attractive underwater view of the Aegean and that many tourists visit the district to see the coral and to take pictures.
5,000 divers were hosted by four diving centers in Ayvalik alone Last year, "The number of foreign divers increases every day," Çalışkan noted, divers from France, Holland and Sweden come to the district to dive, said Çalışkan, adding that the number is approximately 500 each month.
In addition to the underwater flora and fauna, other factors which make Ayvalik attractive to diving enthusiasts are the plentiful ness of diving points with depths fit for every level [of diver]. There is always a spot available to dive, even in bad weather conditions and many diving points that would be available for use 12 months a year. Ayvalik Mayor Hasan Türközen said they are aiming to promote the area's value and Ayvalık's unique diving track to the foreigners. Türközen said that their goal is to increase diving tourism by better promoting the undersea riches.
Because of its rich architectural heritage, Ayvalik attracts all kinds of visitors, not just diving enthusiasts. The town is a member of the European Association of Historic Towns and Regions. The town is surrounded by the some of Turkey's oldest olive groves, attracts gourmands who want to escape the cliché Turkish kebabs with its healthy, tasty and authentic cuisine, reports BalkanTravellers. com.
According to the Hürriyet newspaper, Ayvalik is one of Turkey's most important spots in terms of its diverse flora and fauna, which make it a competitor of the Red sea and the Publication, underlined the importance of the red coral in the area’s tourism value.
Kemal Çalışkan, diving instructor and owner of a diving centre, explained "The red coral, believed to have taken its color from the mineral-rich Mountains by the shores of the Red Sea, may spread in seas with warm climates." He added that the red coral creates an attractive underwater view of the Aegean and that many tourists visit the district to see the coral and to take pictures.
5,000 divers were hosted by four diving centers in Ayvalik alone Last year, "The number of foreign divers increases every day," Çalışkan noted, divers from France, Holland and Sweden come to the district to dive, said Çalışkan, adding that the number is approximately 500 each month.
In addition to the underwater flora and fauna, other factors which make Ayvalik attractive to diving enthusiasts are the plentiful ness of diving points with depths fit for every level [of diver]. There is always a spot available to dive, even in bad weather conditions and many diving points that would be available for use 12 months a year. Ayvalik Mayor Hasan Türközen said they are aiming to promote the area's value and Ayvalık's unique diving track to the foreigners. Türközen said that their goal is to increase diving tourism by better promoting the undersea riches.
Because of its rich architectural heritage, Ayvalik attracts all kinds of visitors, not just diving enthusiasts. The town is a member of the European Association of Historic Towns and Regions. The town is surrounded by the some of Turkey's oldest olive groves, attracts gourmands who want to escape the cliché Turkish kebabs with its healthy, tasty and authentic cuisine, reports BalkanTravellers. com.
Labels: Tourism
Turkish Golf Federation (TGF) predicts a brighter 2009
Wednesday, April 22, 2009
Turkey's overall popularity has risen considerably over the last few years. And golf is becoming an increasingly important driver in attracting tourists, and indeed property purchasers, to Turkey - and it was crowned Best Golf Destination of the Year in Europe by the International Association of Golf Tour Operators (IAGTO) in 2008.
Only a short flight from the UK and Situated outside the Euro-zone, astute players are now realizing that world-class golf in the Mediterranean doesn't just mean Spain and Portugal. The country's Mediterranean climate means that Turkey is forging a reputation as a popular location for those looking to take golf holidays, and the Turkish government is keen to tap into the golfing market as it understood golf tourism is a way to sustain and develop Turkish tourism.
The Turkish Golf Federation has grand plans for 100 courses countrywide in the next 15 years, up from just 17 today with the construction of international class courses well underway. Big names in the world of golf design are already active in the country, driving up the quality of design and facilities. Golf in Turkey has been centered on Istanbul and Antalya's Belek, with its 14 courses, is definitely the place to lead the country. However, Bodrum now has 3 courses open, with 4 more planned for the area. This has encouraged development to meet the demand for quality accommodation from golfers, be it for rent or purchase. In the Tulza area, for instance, the first of two classically designed 18-hole golf courses opened earlier this summer at the Vita Park Golf Club, with the second course due to open in 2009. There are a number of residential developments surrounding the courses offering affordable property to purchase.
Laurence Kaye of Alternative Travel, a specialist Turkish golf travel operator has stated that Turkey appeals to British golfers thanks to its pleasant Mediterranean climate, with ideal playing conditions throughout the year. Ahmet Agaoglu, chairman of the Turkish Golf Federation (TGF) predicted a brighter 2009, despite the global economic crisis. "I believe 100,000 to 125,000 golf tourists will visit Turkey in 2009, which means 400,000 to 450,000 rounds."
Dominic Whiting, editor of the Buying in Turkey guide, concludes, "Turkey has really made its mark as a global tourism destination in recent years and it is keen to continue in this vein, attracting even more visitors and offering world class golf courses and facilities along with exceptional value real estate is a further step in that direction."
Social BookmarkingOnly a short flight from the UK and Situated outside the Euro-zone, astute players are now realizing that world-class golf in the Mediterranean doesn't just mean Spain and Portugal. The country's Mediterranean climate means that Turkey is forging a reputation as a popular location for those looking to take golf holidays, and the Turkish government is keen to tap into the golfing market as it understood golf tourism is a way to sustain and develop Turkish tourism.
The Turkish Golf Federation has grand plans for 100 courses countrywide in the next 15 years, up from just 17 today with the construction of international class courses well underway. Big names in the world of golf design are already active in the country, driving up the quality of design and facilities. Golf in Turkey has been centered on Istanbul and Antalya's Belek, with its 14 courses, is definitely the place to lead the country. However, Bodrum now has 3 courses open, with 4 more planned for the area. This has encouraged development to meet the demand for quality accommodation from golfers, be it for rent or purchase. In the Tulza area, for instance, the first of two classically designed 18-hole golf courses opened earlier this summer at the Vita Park Golf Club, with the second course due to open in 2009. There are a number of residential developments surrounding the courses offering affordable property to purchase.
Laurence Kaye of Alternative Travel, a specialist Turkish golf travel operator has stated that Turkey appeals to British golfers thanks to its pleasant Mediterranean climate, with ideal playing conditions throughout the year. Ahmet Agaoglu, chairman of the Turkish Golf Federation (TGF) predicted a brighter 2009, despite the global economic crisis. "I believe 100,000 to 125,000 golf tourists will visit Turkey in 2009, which means 400,000 to 450,000 rounds."
Dominic Whiting, editor of the Buying in Turkey guide, concludes, "Turkey has really made its mark as a global tourism destination in recent years and it is keen to continue in this vein, attracting even more visitors and offering world class golf courses and facilities along with exceptional value real estate is a further step in that direction."
Labels: Golf-property, Tourism
Turkey announce comprehensive economic stimulus package
Tuesday, April 14, 2009
The Turkish government announced a comprehensive economic stimulus package and new regulations will lower the private consumption tax rates while the value added tax (VAT) also will be lowered from 18 to 8 percent.
The government has previously introduced three smaller packages and the Central Bank in February has lowered its benchmark interest rates to a record low of 11.5 percent. The new tax regulations seek to stimulate domestic demand in Turkey's leading industries. Industry Minister Zafer Caglayan explained the details of the reduction that the package will introduce temporary tax cuts for three months in the housing, home appliances, and automotive sectors. The VAT on apartments over 150 square meters (1,614 square feet) in size will be lowered from 18 to 8 percent. The package also foresees measures to boost exports by allocating an additional 500 million liras ($296 million) to Eximbank, a state-owned bank geared to supporting exporters.
The minister commented: "We are aiming for three things in this law, which is regarded as both a regional and a sectoral incentive: Strong competitiveness, high added-value and international competitive power. The investors will make their investments according to the new law. Following the enforcement of the law, we expect a substantial increase in foreign investments".
According to the International Investors Association (YASED) report, investors currently waiting to carry out new investments in Turkey believe that economic sentiment would shift to a more positive outlook in 2010. Turkey's city investment arena is now taking a strong hold, where huge foreign investment and new commercial activity in centers such as Istanbul are prompting some great investment opportunities in both residential and commercial property.
In a related development, Turkey held direct talks with the IMF after a long period. Although Turkey maintained that the conditions set forth by the IMF were "unacceptable" and against the country's national interests, industry experts believe that following local elections at the end of March, Turkey might finally go ahead and conclude the IMF loan agreement.
Social BookmarkingThe government has previously introduced three smaller packages and the Central Bank in February has lowered its benchmark interest rates to a record low of 11.5 percent. The new tax regulations seek to stimulate domestic demand in Turkey's leading industries. Industry Minister Zafer Caglayan explained the details of the reduction that the package will introduce temporary tax cuts for three months in the housing, home appliances, and automotive sectors. The VAT on apartments over 150 square meters (1,614 square feet) in size will be lowered from 18 to 8 percent. The package also foresees measures to boost exports by allocating an additional 500 million liras ($296 million) to Eximbank, a state-owned bank geared to supporting exporters.
The minister commented: "We are aiming for three things in this law, which is regarded as both a regional and a sectoral incentive: Strong competitiveness, high added-value and international competitive power. The investors will make their investments according to the new law. Following the enforcement of the law, we expect a substantial increase in foreign investments".
According to the International Investors Association (YASED) report, investors currently waiting to carry out new investments in Turkey believe that economic sentiment would shift to a more positive outlook in 2010. Turkey's city investment arena is now taking a strong hold, where huge foreign investment and new commercial activity in centers such as Istanbul are prompting some great investment opportunities in both residential and commercial property.
In a related development, Turkey held direct talks with the IMF after a long period. Although Turkey maintained that the conditions set forth by the IMF were "unacceptable" and against the country's national interests, industry experts believe that following local elections at the end of March, Turkey might finally go ahead and conclude the IMF loan agreement.
Labels: Economy, Latest-news
Turkey's wealth amnesty program enhance market liquidity
Friday, April 10, 2009
Turkey now expects a swift recovery and increase market liquidity, after attracting TL 13.5 bn as part of a wealth amnesty program which was launched to attract an infusion of cash into the country's sagging financial system.
Since the introduction of the program till the 2nd of March, Turkey managed to draw in total fund of around TL 5 billion from Turkish expatriates who live abroad to bring in money held outside the Turkish banking system without being probed concerning the source of the funds.
Officials from the Revenue Administration (GİB) had announced recently that the money attracted by the program had reached TL 5 bn just prior to the final date and they revealed that another TL 8 bn was added before the end of the last day. Thus, the total amount of money drawn in to the country as part of the amnesty program is around TL 13.5 bn. Officials from GİB told Today's Zaman that the program is a great success, attracting than TL 10 bn to the Turkish market in such a volatile atmosphere. This clearly indicates investors have confidence in the Turkish economy's future.
Analysts suggest that the wealth amnesty program will play a decisive role in boosting the country's economy and will provide extra liquidity to the market as well as help ease the burden of the economic crisis. Parliament recently adopted a bill that offers incentives and tax cuts in the hope of attracting more funds from Turkish citizens living in Turkey and abroad to the country's financial system. The bill allows Turks to put their cash holdings in the Turkish banking system with a 2 percent tax on those who live abroad and a 5 percent tax for those who reside in Turkey.
Thanks to the program's success, banks in Turkey will have a chance to extend loans to the non-financial sector. Turkish Central Bank vice Governor Mehmet Yorukoglu recently stated, the Turkish banking system is in extremely good condition now, thanks largely to the "successful regulations adopted after the economic crisis." Overseas Investors are advised to look at property for sale in Turkey because of the country's strong economy. Economists stressed that the Turkish economy is "thriving" because people have the confidence to spend money.
Banking Regulation and Supervision Agency (BDDK) President Tevfik Bilgin had recently said that Turks should not hesitate to take advantage of incentives and contribute to the country's economy. "Turkish expatriates have USD 60 bn in Switzerland alone," he said.
Social BookmarkingSince the introduction of the program till the 2nd of March, Turkey managed to draw in total fund of around TL 5 billion from Turkish expatriates who live abroad to bring in money held outside the Turkish banking system without being probed concerning the source of the funds.
Officials from the Revenue Administration (GİB) had announced recently that the money attracted by the program had reached TL 5 bn just prior to the final date and they revealed that another TL 8 bn was added before the end of the last day. Thus, the total amount of money drawn in to the country as part of the amnesty program is around TL 13.5 bn. Officials from GİB told Today's Zaman that the program is a great success, attracting than TL 10 bn to the Turkish market in such a volatile atmosphere. This clearly indicates investors have confidence in the Turkish economy's future.
Analysts suggest that the wealth amnesty program will play a decisive role in boosting the country's economy and will provide extra liquidity to the market as well as help ease the burden of the economic crisis. Parliament recently adopted a bill that offers incentives and tax cuts in the hope of attracting more funds from Turkish citizens living in Turkey and abroad to the country's financial system. The bill allows Turks to put their cash holdings in the Turkish banking system with a 2 percent tax on those who live abroad and a 5 percent tax for those who reside in Turkey.
Thanks to the program's success, banks in Turkey will have a chance to extend loans to the non-financial sector. Turkish Central Bank vice Governor Mehmet Yorukoglu recently stated, the Turkish banking system is in extremely good condition now, thanks largely to the "successful regulations adopted after the economic crisis." Overseas Investors are advised to look at property for sale in Turkey because of the country's strong economy. Economists stressed that the Turkish economy is "thriving" because people have the confidence to spend money.
Banking Regulation and Supervision Agency (BDDK) President Tevfik Bilgin had recently said that Turks should not hesitate to take advantage of incentives and contribute to the country's economy. "Turkish expatriates have USD 60 bn in Switzerland alone," he said.
Labels: Market-Trends
Emaar unveils its expansion plans in Turkey
Monday, April 6, 2009
Emaar Properties have bought a 40 per cent stake in Emaar Turkey from Cihan Kamer, chairman of the Atasay Group, according to reports.
According to Dubai financial market website, Emaar Properties, PJSC, the Middle East's biggest publicly traded real-estate developer, said it bought a 40 percent stake in Emaar Turkey held by Cihan Kamer, the chairman of the Atasay Group. The purchase boosted Emaar’s stake in Emaar Turkey to 100 percent.
Spokesperson of The Dubai-based Company said that Emaar Turkey will continue its investments in Turkey in residential projects, along with shopping malls, and the health, education, tourism and entertainment sectors. The US$700 million Tuscan Valley Houses marked Emaar’s entry into the Turkish market and had plans for Turkey to recreate the global luxury standards set by Emaar at its developments in 15 other countries.
Earlier in February, Emaar Turkey, the country-subsidiary of Emaar Properties, has signed an agreement with Turkey's Toprak Holding to purchase prime land worth $400 million Located on the Asian side of Istanbul within the junction of main highways, it is also in close proximity to the proposed metro rail tunnel under the Bosphorus strait linking Asia and Europe. The land is ideal for a mixed-use development with housing, commercial and tourism components.
Dr Nader Mohammad, Regional Managing Director of Emaar International commented: “Emaar has gained a strong presence in the Turkish property sector and will invest a further US$5-10 billion in the next five years in Turkey, to drive our expansion plans for the country. This will be a step forward to initiate world-class master-planned communities in line with our projects around the world." Meanwhile, Ozan Balaban, General Manager, Emaar Turkey has said that the project demonstrates company's commitment to the country by investing in long-term projects that invigorate the socio-economic sphere of Turkey. In addition to this pioneering master-planned project, Emaar and Atasay are also looking for potential sites for shopping centers, commercial space and hotel developments.
Social BookmarkingAccording to Dubai financial market website, Emaar Properties, PJSC, the Middle East's biggest publicly traded real-estate developer, said it bought a 40 percent stake in Emaar Turkey held by Cihan Kamer, the chairman of the Atasay Group. The purchase boosted Emaar’s stake in Emaar Turkey to 100 percent.
Spokesperson of The Dubai-based Company said that Emaar Turkey will continue its investments in Turkey in residential projects, along with shopping malls, and the health, education, tourism and entertainment sectors. The US$700 million Tuscan Valley Houses marked Emaar’s entry into the Turkish market and had plans for Turkey to recreate the global luxury standards set by Emaar at its developments in 15 other countries.
Earlier in February, Emaar Turkey, the country-subsidiary of Emaar Properties, has signed an agreement with Turkey's Toprak Holding to purchase prime land worth $400 million Located on the Asian side of Istanbul within the junction of main highways, it is also in close proximity to the proposed metro rail tunnel under the Bosphorus strait linking Asia and Europe. The land is ideal for a mixed-use development with housing, commercial and tourism components.
Dr Nader Mohammad, Regional Managing Director of Emaar International commented: “Emaar has gained a strong presence in the Turkish property sector and will invest a further US$5-10 billion in the next five years in Turkey, to drive our expansion plans for the country. This will be a step forward to initiate world-class master-planned communities in line with our projects around the world." Meanwhile, Ozan Balaban, General Manager, Emaar Turkey has said that the project demonstrates company's commitment to the country by investing in long-term projects that invigorate the socio-economic sphere of Turkey. In addition to this pioneering master-planned project, Emaar and Atasay are also looking for potential sites for shopping centers, commercial space and hotel developments.
Labels: Real-estate-news
Turkish development offering a crazy 30% discount
Wednesday, April 1, 2009
Overseas investors looking to buy property on a Turkish development could find some "promising" deals as owners look to sell the last few remaining units.
Turquoise makes perfect sense for both investment and lifestyle buyers. The Turquoise development is in an idyllic beachfront location in the peninsula resort of Bodrum on the Aegean Sea. The resort is now complete and fully-functioning as a successful holiday haven; GEM Estates, one of Turkey’s leading developers, in business since 1948, is able to offer a fantastic 30% discount on the last remaining apartments. Most of the properties are quick to sell out and prices for the remaining properties have now been slashed from £66,000 to just £49,693.
Turquoise development has a highly professional rental management with contracts to leading tour operators and online booking agencies. The resort is just 15 minutes from Bodrum’s International Airport and a distinctive cable-car ride to access the resort’s private beach with bar and an array of water sports. Turquoise also offers an unparalleled after sales service including recreational activities complete with maid service and 24-hour reception. The rental yields are anticipated as high as 8 or 9% whilst generous personal use is also a given.
The resort prides itself in being a complete resort by providing a wide range of in house activities and facilities to suit the active and not so active. On-site facilities include a heated indoor pool, "Enchanted Garden" Themed Kiddies Club with daily organized programs, an aqua park, fitness centre, Spa, 9-hole short golf course, Guest Activity Centre for tours and excursions, open air theatre and tennis, volley and basketball courts. The list is not complete; Turquoise has everything buyers might expect from a local town, including bars, café, supermarket, Doctor on call 24 hours, boutiques, dry cleaners, Transport Desk and beauticians.
Buyers who like to take advantage of the 30% discount with two bedroom apartments now priced from just £49,693 can Contact them on info@gemestablished.com, visit www.gemestablished.com.
Social BookmarkingTurquoise makes perfect sense for both investment and lifestyle buyers. The Turquoise development is in an idyllic beachfront location in the peninsula resort of Bodrum on the Aegean Sea. The resort is now complete and fully-functioning as a successful holiday haven; GEM Estates, one of Turkey’s leading developers, in business since 1948, is able to offer a fantastic 30% discount on the last remaining apartments. Most of the properties are quick to sell out and prices for the remaining properties have now been slashed from £66,000 to just £49,693.
Turquoise development has a highly professional rental management with contracts to leading tour operators and online booking agencies. The resort is just 15 minutes from Bodrum’s International Airport and a distinctive cable-car ride to access the resort’s private beach with bar and an array of water sports. Turquoise also offers an unparalleled after sales service including recreational activities complete with maid service and 24-hour reception. The rental yields are anticipated as high as 8 or 9% whilst generous personal use is also a given.
The resort prides itself in being a complete resort by providing a wide range of in house activities and facilities to suit the active and not so active. On-site facilities include a heated indoor pool, "Enchanted Garden" Themed Kiddies Club with daily organized programs, an aqua park, fitness centre, Spa, 9-hole short golf course, Guest Activity Centre for tours and excursions, open air theatre and tennis, volley and basketball courts. The list is not complete; Turquoise has everything buyers might expect from a local town, including bars, café, supermarket, Doctor on call 24 hours, boutiques, dry cleaners, Transport Desk and beauticians.
Buyers who like to take advantage of the 30% discount with two bedroom apartments now priced from just £49,693 can Contact them on info@gemestablished.com, visit www.gemestablished.com.
Labels: New-developments, Property-prices
