Savills to invest in Turkish property market
Wednesday, June 18, 2008
Turkey's property market is exemplified by short supply, with huge potential investment opportunities and attractive risk-adjusted returns. International brands are increasingly entering the market and are creating considerable demand for high quality product.
Financial times have reported that the leading British real estate investment company Savills is to launch a fund to invest in the fast-growing Turkish property market.
Turkish Property Ventures Fund will invest in shopping centers and residential developments with an estimated return of 20% a year. The fund aims to raise €400m (£323m) of equity. Ian Jones, fund manager at Cordea Savills explained that Turkey is "shrugging off" the ongoing problems in the global economy and the Turkish housing market is performing strongly.
The government estimates reveal that 650,000 new houses are required annually to support the projected population growth. Mr. Jones further said that the population of Turkey with 70 million people and half of them under 30 with an average annual population growth of about one per cent signifies more opportunities. House prices are still at affordable level to generate interest among the holiday home buyers and overseas investors.
The rate of house price inflation still outpaces many other European countries, suggesting that overseas investors hoping for capital appreciation could still profit from the Turkish market if they enter the market early.
Financial times have reported that the leading British real estate investment company Savills is to launch a fund to invest in the fast-growing Turkish property market.
Turkish Property Ventures Fund will invest in shopping centers and residential developments with an estimated return of 20% a year. The fund aims to raise €400m (£323m) of equity. Ian Jones, fund manager at Cordea Savills explained that Turkey is "shrugging off" the ongoing problems in the global economy and the Turkish housing market is performing strongly.
The government estimates reveal that 650,000 new houses are required annually to support the projected population growth. Mr. Jones further said that the population of Turkey with 70 million people and half of them under 30 with an average annual population growth of about one per cent signifies more opportunities. House prices are still at affordable level to generate interest among the holiday home buyers and overseas investors.
The rate of house price inflation still outpaces many other European countries, suggesting that overseas investors hoping for capital appreciation could still profit from the Turkish market if they enter the market early.
Labels: British, Investment-property
posted by EstatesNewz, 11:25 PM
0 Comments
|
Unspoiled Turkey praised by a British expat
Sunday, June 15, 2008
An expatriate from the UK who has purchased a holiday home in Turkey's Mugla province has highlighted some of the attractions of Turkey.
Speaking to the Independent, Helen Love outlined some of the recent developments which could potentially persuade more people to follow her lead. She said that she had spent £80,000 on a property in Dalyan four years ago and now that the house has gone up in value to about £150,000.
Commenting on the location, she praised the number of lifestyle attractions on offer including beautiful unspoilt beaches, mountain landscapes topped off with a low cost of living. However, she added that this part of Turkey has only recently been tapped into by overseas property buyers.
She praised the quality of the public services to maintain its natural beauty and planning restrictions to evade overdevelopment has made Dalyan so attractive. In addition, she suggested that property owners could stand to benefit from significant capital appreciation in Turkey.
ShelterOffshore.com has recently flagged up Turkey as a good retirement destination.
The website has reported that Turkey has excellent infrastructure, amenities and good weather, as well as relatively low cost of living.
Social BookmarkingSpeaking to the Independent, Helen Love outlined some of the recent developments which could potentially persuade more people to follow her lead. She said that she had spent £80,000 on a property in Dalyan four years ago and now that the house has gone up in value to about £150,000.
Commenting on the location, she praised the number of lifestyle attractions on offer including beautiful unspoilt beaches, mountain landscapes topped off with a low cost of living. However, she added that this part of Turkey has only recently been tapped into by overseas property buyers.
She praised the quality of the public services to maintain its natural beauty and planning restrictions to evade overdevelopment has made Dalyan so attractive. In addition, she suggested that property owners could stand to benefit from significant capital appreciation in Turkey.
ShelterOffshore.com has recently flagged up Turkey as a good retirement destination.
The website has reported that Turkey has excellent infrastructure, amenities and good weather, as well as relatively low cost of living.
Labels: British, Dalyan, Turkish-property
posted by EstatesNewz, 5:37 AM
0 Comments
|
Moneycorp believes Turkey is a tasty destination for UK investors
Friday, May 23, 2008
Turkey is becoming more and more popular with British investors. Moneycorp currency dealing desk has revealed that the number of inquiries relating to buying property in Turkey is increased more than threefold between 2006 and 2007.
Moneycorp believes that Turkey continues to attract a high level of interest from investors in spite of the fact that number of economic problems like the global credit crunch is affecting demand for property in some countries. The slump in the global economy is not putting off the property investors from entering the Turkish market. Britons are choosing to visit countries which are not part of the single European currency as pound is now at a record low against the euro. This trend could prove to be advantageous to owners of rental accommodation in Turkey.
Overseas property buyers are increasingly choosing to snap up properties in the established locations such as Istanbul, Antalya, Bodrum and Ankara. Governor of Mugla province has stated that towns like Bodrum and Fethiye are attracting more visitors in 2008. A report in Today's Zaman revealed that over 10,000 British have invested in Turkey's Mugla province in recent years.
Overseas property buyers in the UK have been advised to consider entering the Turkish market by FirstRungNow.com as its market is supported by a number of strong fundamentals.
Moneycorp believes that Turkey continues to attract a high level of interest from investors in spite of the fact that number of economic problems like the global credit crunch is affecting demand for property in some countries. The slump in the global economy is not putting off the property investors from entering the Turkish market. Britons are choosing to visit countries which are not part of the single European currency as pound is now at a record low against the euro. This trend could prove to be advantageous to owners of rental accommodation in Turkey.
Overseas property buyers are increasingly choosing to snap up properties in the established locations such as Istanbul, Antalya, Bodrum and Ankara. Governor of Mugla province has stated that towns like Bodrum and Fethiye are attracting more visitors in 2008. A report in Today's Zaman revealed that over 10,000 British have invested in Turkey's Mugla province in recent years.
Overseas property buyers in the UK have been advised to consider entering the Turkish market by FirstRungNow.com as its market is supported by a number of strong fundamentals.
Labels: British, Overseas-property
posted by EstatesNewz, 10:31 PM
0 Comments
|
Wet summer drives British investor's to Turkey
Saturday, April 26, 2008
Humberside Airport Travel figures reveal that many people from Humberside last-minute holiday bookings in order to escape from last year's wet summer. Their reports confirm that nearly 92 per cent of its bookings were made at the last minute.
The travel agency further said that Turkey was the most popular destination for followed by Cyprus. Turkish Airlines reported that a total of eight million people flew with the carrier till September of 2007 which is 19.4 per cent higher than the figures recorded 12 months earlier.
Rob Goldsmith, managing director of Humberside Airport, said that the last year summer saw increase in the number of visitors and he expected that the trend will continue. Property experts pointed out a link between the wet summer and an increased number of people purchasing property abroad. Currency specialist HiFX explained the surge of interest in buying abroad is mainly due to people wanting to live in a better climate.
Turkey is increasingly becoming popular because it offers overseas property investors the ideal place to buy a home in the sun as it has good weather all round the year. Michael Harrop, MD of New Turkish Properties has commented that glorious weather is pulling in crowds of takers when it comes to property in Turkey.
Social Bookmarking
The travel agency further said that Turkey was the most popular destination for followed by Cyprus. Turkish Airlines reported that a total of eight million people flew with the carrier till September of 2007 which is 19.4 per cent higher than the figures recorded 12 months earlier.
Rob Goldsmith, managing director of Humberside Airport, said that the last year summer saw increase in the number of visitors and he expected that the trend will continue. Property experts pointed out a link between the wet summer and an increased number of people purchasing property abroad. Currency specialist HiFX explained the surge of interest in buying abroad is mainly due to people wanting to live in a better climate.
Turkey is increasingly becoming popular because it offers overseas property investors the ideal place to buy a home in the sun as it has good weather all round the year. Michael Harrop, MD of New Turkish Properties has commented that glorious weather is pulling in crowds of takers when it comes to property in Turkey.
Labels: British, Property-buyers, Travel
posted by EstatesNewz, 1:01 AM
0 Comments
|
Rewards and risks of buying property in Turkey
Friday, March 28, 2008
British tourists and investors are tempted by the turquoise coastline, water sports, water skiing and scuba diving that is on offer in many of Turkey's coastal towns. Many people who visit Turkey are impressed by the Mediterranean climate, hospitality and great value of the country that they turn from tourists to property investors.
According to the statistics, even though the prices have gone up to 15 to 20 percent in the last year, prices are still cheap when compared to British standards. Turkey is becoming exciting destination for property buyers and already 17,000 British have property in Turkey. Julian Walker, managing director at Spot Blue has said that one-bedroom flats can go for £25,000, two-beds for £50,000 and villas for £90,000. According to the reports by Conti Financial Services revealed that enquiries about Turkey has increased to a whopping 147 percent when compared to other European countries like Spain, by contrast, enquiries fell by more than 28 per cent.
According to the law on 'property purchase by foreigners in Turkey', foreign nationals are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with the laws. Both Turkish citizens and foreign owners have equal property-ownership rights. The mortgage law available over long periods to house buyers and is expected to transform both the housing market and the Turkey's urban environment. Annual Real Estate Tax (a tax similar to the Council tax in the UK) rates for building land, non-residence-purpose buildings and residential buildings are 0.3%, 0.2%, and 0.1%, respectively. Foreign buyers will have to pay 25 per cent deposit and mortgages are available over 15 years.
Turkish economy is positively moving forward and leads the way in emerging markets and well ahead of popular tourist destinations like Cape Verde, South Africa, Thailand and Egypt. More overseas investors arrive much more conveniently in turkey due to the low cost flights and this of course makes buying property in Turkey more accessible. The development of the property rental market in Turkey is moving in the right directions as Turkey’s tourism figures continue to soar. The rental market can provide a good return on investment for property investors in Turkey with the expected arrival of further low-cost flights to Turkey.
Linda Travella, spokeswoman for the National Association of Estate Agents International has said that buying property in emerging countries requires more research and local knowledge. The process would be different when compared to UK system.
Social BookmarkingAccording to the statistics, even though the prices have gone up to 15 to 20 percent in the last year, prices are still cheap when compared to British standards. Turkey is becoming exciting destination for property buyers and already 17,000 British have property in Turkey. Julian Walker, managing director at Spot Blue has said that one-bedroom flats can go for £25,000, two-beds for £50,000 and villas for £90,000. According to the reports by Conti Financial Services revealed that enquiries about Turkey has increased to a whopping 147 percent when compared to other European countries like Spain, by contrast, enquiries fell by more than 28 per cent.
According to the law on 'property purchase by foreigners in Turkey', foreign nationals are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with the laws. Both Turkish citizens and foreign owners have equal property-ownership rights. The mortgage law available over long periods to house buyers and is expected to transform both the housing market and the Turkey's urban environment. Annual Real Estate Tax (a tax similar to the Council tax in the UK) rates for building land, non-residence-purpose buildings and residential buildings are 0.3%, 0.2%, and 0.1%, respectively. Foreign buyers will have to pay 25 per cent deposit and mortgages are available over 15 years.
Turkish economy is positively moving forward and leads the way in emerging markets and well ahead of popular tourist destinations like Cape Verde, South Africa, Thailand and Egypt. More overseas investors arrive much more conveniently in turkey due to the low cost flights and this of course makes buying property in Turkey more accessible. The development of the property rental market in Turkey is moving in the right directions as Turkey’s tourism figures continue to soar. The rental market can provide a good return on investment for property investors in Turkey with the expected arrival of further low-cost flights to Turkey.
Linda Travella, spokeswoman for the National Association of Estate Agents International has said that buying property in emerging countries requires more research and local knowledge. The process would be different when compared to UK system.
Labels: British, Economy, Turkish-property
posted by EstatesNewz, 10:07 PM
0 Comments
|
Brits lured by Turkish property
Saturday, March 15, 2008
The www.999today.com Web site revealed that property in Turkey ranks one of the most popular overseas property destinations in the UK.
Julian Walker from the United Kingdom-based Turkish property firm Spot Blue has said that Briton's investments in turkey increased much faster than total property investment turkey by foreign nationals. Statistics shows nearly 2.06 million people in the British Isles own property overseas i.e one in 30 people. Favorable property prices coupled with over 300 days of sunshine make turkey a prime target for property investment .Turkish real estate economy is benefiting from a government reforms, infrastructure developments, global advertising of the Turkish brand of tourism and consistent foreign direct investment.
David Nigbur, Former BBC engineer and his wife, Rosemary, said their living expenses is drastically reduced since having their three-bedroom villa in Uzumlu, just outside Fethiye, in southwestern Turkey and the building process is facilitated by spot blue. The British couple was happy about their relocation. A quick overview of the market reveals that prices have increased over 30 percent in this area and the days of bargain property in turkey appear to be long gone but still investors hope to achieve more capital appreciation per annum as the laidback lifestyle, affordability, Mediterranean climate and hospitality of people of the island appeals so much to retirees, holidaymakers and overseas investors.
Social BookmarkingJulian Walker from the United Kingdom-based Turkish property firm Spot Blue has said that Briton's investments in turkey increased much faster than total property investment turkey by foreign nationals. Statistics shows nearly 2.06 million people in the British Isles own property overseas i.e one in 30 people. Favorable property prices coupled with over 300 days of sunshine make turkey a prime target for property investment .Turkish real estate economy is benefiting from a government reforms, infrastructure developments, global advertising of the Turkish brand of tourism and consistent foreign direct investment.
David Nigbur, Former BBC engineer and his wife, Rosemary, said their living expenses is drastically reduced since having their three-bedroom villa in Uzumlu, just outside Fethiye, in southwestern Turkey and the building process is facilitated by spot blue. The British couple was happy about their relocation. A quick overview of the market reveals that prices have increased over 30 percent in this area and the days of bargain property in turkey appear to be long gone but still investors hope to achieve more capital appreciation per annum as the laidback lifestyle, affordability, Mediterranean climate and hospitality of people of the island appeals so much to retirees, holidaymakers and overseas investors.
Labels: British, Latest-news
posted by EstatesNewz, 1:28 AM
0 Comments
|
