Turkey fast emerging for overseas investors
Saturday, January 23, 2010
Turkey is a country that is rapidly emerging as a hotspot for overseas investors, it has been stated.
Mercedes-Benz Turkey has raised its market share in Turkey in the recent five years. Tufan Akdeniz, the company's sales and marketing director announced that Turkey's light commercial vehicles department, said the company's market share was up in Turkey in 2009 despite the global economic crisis, like in the last four years. "We are aiming to maintain a similar uptrend this year", said Akdeniz during a ceremony in the Mediterranean province of Antalya.
Meanwhile, Ilhan Atis, Adana Governor, a city situated on the Seyhan River in south-central Anatolia said that a Singapore-based company is interested in investing in the Ceyhan Energy Specialization Zone. Ceyhan will be one of the most important locations in the future, said Atis, and the Investment plans of the Istanbul-based conglomerate Calik Holding in the area have become definite, he said, adding that foreign companies are also keeping a close eye on the region.This is expected to increase the property prices in the region.
During the investment conference held in Paris, Alpaslan Korkmaz, President of the Prime Ministry Investment Support and Promotion Agency of Turkey (ISPAT) briefed French business people and presented the investment environment and incentives in Turkey. This promotion campaign toward French business community has succeeded in attracting interest to the country, particularly in property investment.
Hong Kong-based Li&Fung Group, the world's largest supply chain, has chosen Turkey as its base for the EMEA region, and has now opened its European regional office in Istanbul. The investment by Li&Fung, which has been announced as USD 700 million, will initially create direct recruitment for 400 people. Victor Fung, Chairman of the company stated Turkey is the country of the future, and therefore, they have chosen Istanbul over London and Hamburg, which were among their investment plans previously.
In related news, The share of foreign investors in the Istanbul Stock Exchange (IMKB) increased to 67.4 percent amounting to TRY 87.2 billion in stock value on January 8, said officials. On December 31, the share of foreign investors was 67.29 percent. (USD 1 = approx. TRY 1.46)
Social BookmarkingMercedes-Benz Turkey has raised its market share in Turkey in the recent five years. Tufan Akdeniz, the company's sales and marketing director announced that Turkey's light commercial vehicles department, said the company's market share was up in Turkey in 2009 despite the global economic crisis, like in the last four years. "We are aiming to maintain a similar uptrend this year", said Akdeniz during a ceremony in the Mediterranean province of Antalya.
Meanwhile, Ilhan Atis, Adana Governor, a city situated on the Seyhan River in south-central Anatolia said that a Singapore-based company is interested in investing in the Ceyhan Energy Specialization Zone. Ceyhan will be one of the most important locations in the future, said Atis, and the Investment plans of the Istanbul-based conglomerate Calik Holding in the area have become definite, he said, adding that foreign companies are also keeping a close eye on the region.This is expected to increase the property prices in the region.
During the investment conference held in Paris, Alpaslan Korkmaz, President of the Prime Ministry Investment Support and Promotion Agency of Turkey (ISPAT) briefed French business people and presented the investment environment and incentives in Turkey. This promotion campaign toward French business community has succeeded in attracting interest to the country, particularly in property investment.
Hong Kong-based Li&Fung Group, the world's largest supply chain, has chosen Turkey as its base for the EMEA region, and has now opened its European regional office in Istanbul. The investment by Li&Fung, which has been announced as USD 700 million, will initially create direct recruitment for 400 people. Victor Fung, Chairman of the company stated Turkey is the country of the future, and therefore, they have chosen Istanbul over London and Hamburg, which were among their investment plans previously.
In related news, The share of foreign investors in the Istanbul Stock Exchange (IMKB) increased to 67.4 percent amounting to TRY 87.2 billion in stock value on January 8, said officials. On December 31, the share of foreign investors was 67.29 percent. (USD 1 = approx. TRY 1.46)
Labels: Investment-property
Off-plan property set to boost construction sector in Turkey
Sunday, January 10, 2010
The construction sector in Turkey was far from being rejuvenated during 2009 but the Construction firms are expecting to see a boost in the second half of 2010 as investment in off-plan property increases.
According to the Hurriyet Daily News, Erdal Eren, the chairman of the Turkish Contractors Association said that 2009 had been a tough year for the industry as the country's real estate market suffered from the economic crisis. The shrinkage in the sector continued throughout the year, with 18.9 percent and 21.4 percent contraction rates in the first and second quarters of the year, respectively and the overall contraction rate declined from its peak of 14.7 percent in the first quarter to 3.3 percent in the third quarter, the recovery in the construction sector remained limited, posting a contraction rate of 18.1 percent in the third quarter of the year. However, he predicted that 2010 would be better.
In order to boost sales and support the suffering sector in the face of the economic meltdown, the government introduced a cut in title deed fees and value-added tax (KDV) in March, which lasted until the end of June. Ugur Dumankaya, executive member of Dumankaya İnşaat, one of the largest and most respected companies in the construction business, said that 2009 was actually a successful year for firms that had managed to set up good organizational structures, admitting, however that sales had remained low compared to the low levels of mortgage interest rates.
Meanwhile, The Monetary Policy Committee at the Central Bank of Turkey took the decision to leave interest rates unchanged after 11 months of reducing the overnight borrowing rate. The bank took the decision following "a moderate pace of recovery in the economic activity". It added that interest rates were likely to remain at low levels in the medium term.
In good news for rental property investors, one sector of the Turkish economy which performed particularly well in 2009 was tourism. The Hurriyet Daily News reported last week that the country had surpassed its target of 25 million foreign visitors in 2009. Tourism minister Ertugrul Gnay said that "per capita tourist income is expected to rise above the world average" for the country in 2010.
Social BookmarkingAccording to the Hurriyet Daily News, Erdal Eren, the chairman of the Turkish Contractors Association said that 2009 had been a tough year for the industry as the country's real estate market suffered from the economic crisis. The shrinkage in the sector continued throughout the year, with 18.9 percent and 21.4 percent contraction rates in the first and second quarters of the year, respectively and the overall contraction rate declined from its peak of 14.7 percent in the first quarter to 3.3 percent in the third quarter, the recovery in the construction sector remained limited, posting a contraction rate of 18.1 percent in the third quarter of the year. However, he predicted that 2010 would be better.
In order to boost sales and support the suffering sector in the face of the economic meltdown, the government introduced a cut in title deed fees and value-added tax (KDV) in March, which lasted until the end of June. Ugur Dumankaya, executive member of Dumankaya İnşaat, one of the largest and most respected companies in the construction business, said that 2009 was actually a successful year for firms that had managed to set up good organizational structures, admitting, however that sales had remained low compared to the low levels of mortgage interest rates.
Meanwhile, The Monetary Policy Committee at the Central Bank of Turkey took the decision to leave interest rates unchanged after 11 months of reducing the overnight borrowing rate. The bank took the decision following "a moderate pace of recovery in the economic activity". It added that interest rates were likely to remain at low levels in the medium term.
In good news for rental property investors, one sector of the Turkish economy which performed particularly well in 2009 was tourism. The Hurriyet Daily News reported last week that the country had surpassed its target of 25 million foreign visitors in 2009. Tourism minister Ertugrul Gnay said that "per capita tourist income is expected to rise above the world average" for the country in 2010.
Labels: Investment-property, Off-plan
Turkey will continue to attract more foreign direct investments
Tuesday, November 17, 2009
The present time offers a good opportunity for overseas investors to invest in Turkish properties, it has been stated.
Recep Tayyip Erdogan, Turkey’s Prime Minister announced that Turkey attracted investments of around USD 6 billion in the first eight months of 2009. Mr. Erdogan said during a meeting at the Investment Support and Promotion Agency of Turkey (ISPAT) that Turkey will continue to attract more direct investments as the global crisis has been overcome.
Erdogan also added that Turkey has become a center of attraction for investments, thanks to its radical reforms, stability and strong economy. There are 22,821 international companies in Turkey, including 12,463 from European countries and 3,888 from the near and Middle Eastern countries, which is good news for those looking properties in Turkey.
Meanwhile, M Bahadir Teker, Founder of broker Istanbul Mortgage said that the country is currently enjoying a favorable combination of affordability, lower interest rates and a plentiful supply of mortgages, according to Financial times reports.
He commented: "We're going to see growth next year and new development opportunities arising mid-year, so I think now is a good time to buy."
In related news, Didim today suggested that Altinkum is a good place to invest in during 2010. The resort is good for tourist rental because it appeals not just to the overseas sector made up mainly of Britons and Germans, but also Turks looking for domestic breaks.
Social BookmarkingRecep Tayyip Erdogan, Turkey’s Prime Minister announced that Turkey attracted investments of around USD 6 billion in the first eight months of 2009. Mr. Erdogan said during a meeting at the Investment Support and Promotion Agency of Turkey (ISPAT) that Turkey will continue to attract more direct investments as the global crisis has been overcome.
Erdogan also added that Turkey has become a center of attraction for investments, thanks to its radical reforms, stability and strong economy. There are 22,821 international companies in Turkey, including 12,463 from European countries and 3,888 from the near and Middle Eastern countries, which is good news for those looking properties in Turkey.
Meanwhile, M Bahadir Teker, Founder of broker Istanbul Mortgage said that the country is currently enjoying a favorable combination of affordability, lower interest rates and a plentiful supply of mortgages, according to Financial times reports.
He commented: "We're going to see growth next year and new development opportunities arising mid-year, so I think now is a good time to buy."
In related news, Didim today suggested that Altinkum is a good place to invest in during 2010. The resort is good for tourist rental because it appeals not just to the overseas sector made up mainly of Britons and Germans, but also Turks looking for domestic breaks.
Labels: Investment-property
Foreign investors are awaiting Turkish public offerings
Friday, October 23, 2009
Foreign and domestic investors are awaiting initial public offerings of large Turkish companies, according to Huseyin Erkan, President of the Istanbul Stock Exchange (IMKB).
Mr. Erkan said that it is the perfect time for initial public offerings. The Privatization Administration should definitely consider making an initial public offering. He noted that it is appealing for foreign investors that Turkey has managed the crisis well and performed admirably.
In a landmark development, the Athens Stock Exchange and the Istanbul Stock Exchange have announced the creation of an index with the 30 largest companies, 15 of the largest and most heavily traded companies from each market. The number of stocks from the banking sector will be limited to four from each market to boost trading in the region’s largest stock markets.
"The GT-30 will certainly add further visibility to both markets, which is a significant contribution at a time when the world markets are gradually recovering from the financial turmoil”, said Mr. Erkan.
He commented: “If large companies are offered to the public now, I expect the demand to be high. An initial public offering for one or two medium-size or large-scale companies may take place through the end of the year. The significant initial public offerings are likely to take place in 2010.”
In good news for Istanbul property investors, Ali Babacan, Turkey's State Minister and Deputy Prime Minister, said the vision of the government is to make Istanbul initially a regional and eventually a “global finance center”. He enumerated those factors as low business running costs, qualified labor force, domestic and regional economic growth potential, and attractive style of living.
Due to the huge FDI inflows, Construction activity is booming in and around Istanbul and along Turkey’s enormous coastline. Buoyed by a supply of quality residential property, a growing retail sector and increases in disposable income and employment opportunities, the demand for property seems set to continue. Istanbul has great investment potential as growing population and economic growth has lead to high price rises in recent years. Also locals are involved in the property market which means there is excellent resell market and exit strategy. So now would be an ideal time to purchase off-plan property in the city.
Social BookmarkingMr. Erkan said that it is the perfect time for initial public offerings. The Privatization Administration should definitely consider making an initial public offering. He noted that it is appealing for foreign investors that Turkey has managed the crisis well and performed admirably.
In a landmark development, the Athens Stock Exchange and the Istanbul Stock Exchange have announced the creation of an index with the 30 largest companies, 15 of the largest and most heavily traded companies from each market. The number of stocks from the banking sector will be limited to four from each market to boost trading in the region’s largest stock markets.
"The GT-30 will certainly add further visibility to both markets, which is a significant contribution at a time when the world markets are gradually recovering from the financial turmoil”, said Mr. Erkan.
He commented: “If large companies are offered to the public now, I expect the demand to be high. An initial public offering for one or two medium-size or large-scale companies may take place through the end of the year. The significant initial public offerings are likely to take place in 2010.”
In good news for Istanbul property investors, Ali Babacan, Turkey's State Minister and Deputy Prime Minister, said the vision of the government is to make Istanbul initially a regional and eventually a “global finance center”. He enumerated those factors as low business running costs, qualified labor force, domestic and regional economic growth potential, and attractive style of living.
Due to the huge FDI inflows, Construction activity is booming in and around Istanbul and along Turkey’s enormous coastline. Buoyed by a supply of quality residential property, a growing retail sector and increases in disposable income and employment opportunities, the demand for property seems set to continue. Istanbul has great investment potential as growing population and economic growth has lead to high price rises in recent years. Also locals are involved in the property market which means there is excellent resell market and exit strategy. So now would be an ideal time to purchase off-plan property in the city.
Labels: Investment-property, Latest-news
Italy wants to expand its investments in Turkey
Sunday, September 6, 2009
Italy wants to expand its investments in Turkey, currently concentrated in western regions, throughout the country, according to an Italian Official.
Carlo Marsili, the Italian Ambassador to Turkey said that economic relations between the two countries steadily improved, noting that the number of Italian companies operating in the Turkish market is proof of Turkey's importance for Italy. Currently, there are about 714 companies, including Pirelli, Fiat Italcementi and UniCredit. He highlighted the fact that Italian direct investments in Turkey amounted to USD 5 billion, accounting for a three percent share in overall foreign investments in the country, while the annual trade volume between the two countries stands at around USD 20 billion.
Marsili said the Italian companies in Turkey mostly operated in the industrial, cement, banking and SME sectors. He added that they want to spread Italian investments in the western region to other parts of Turkey, noting they are making assessments on cities like Adana, Gaziantep, Konya and Kayseri. This is yet more good news for the Turkish property market; it is both a testament to the massively rising popularity of Turkey with European Investors.
Roberto Luongo, director of the ICE's Istanbul office, told Hurriyet Daily News and Economic Review in an interview, "We think research and development centers and technoparks will have the utmost importance in boosting a country's development." Italian representatives are scheduled to visit Ankara and discuss projects on launching "technoparks" in Turkey.
Italian companies have a keen interest in Turkey, Luongo emphasized. "Italy is Turkey's third-largest trade partner, following Russia and Germany." Italian investments in Turkey total around USD 4.7 billion, "We are the fifth largest investor in Turkey," said Luongo.
Social BookmarkingCarlo Marsili, the Italian Ambassador to Turkey said that economic relations between the two countries steadily improved, noting that the number of Italian companies operating in the Turkish market is proof of Turkey's importance for Italy. Currently, there are about 714 companies, including Pirelli, Fiat Italcementi and UniCredit. He highlighted the fact that Italian direct investments in Turkey amounted to USD 5 billion, accounting for a three percent share in overall foreign investments in the country, while the annual trade volume between the two countries stands at around USD 20 billion.
Marsili said the Italian companies in Turkey mostly operated in the industrial, cement, banking and SME sectors. He added that they want to spread Italian investments in the western region to other parts of Turkey, noting they are making assessments on cities like Adana, Gaziantep, Konya and Kayseri. This is yet more good news for the Turkish property market; it is both a testament to the massively rising popularity of Turkey with European Investors.
Roberto Luongo, director of the ICE's Istanbul office, told Hurriyet Daily News and Economic Review in an interview, "We think research and development centers and technoparks will have the utmost importance in boosting a country's development." Italian representatives are scheduled to visit Ankara and discuss projects on launching "technoparks" in Turkey.
Italian companies have a keen interest in Turkey, Luongo emphasized. "Italy is Turkey's third-largest trade partner, following Russia and Germany." Italian investments in Turkey total around USD 4.7 billion, "We are the fifth largest investor in Turkey," said Luongo.
Labels: Investment-property
Good Turkey properties available for under EUR 50,000
Wednesday, July 22, 2009
It is possible to pick up a good property in Turkey at prices of EUR 50,000 (GBP 42,850) in best locations, it has been reported.
Property and lifestyle magazine Quest stated that many British purchasers are looking for homes at the lower end of the market and listed three examples of the sort of bargains UK buyers could enjoy. These included a three-bed, two-bathroom villa with a sea view near Bodrum, a three-bed beach apartment at Fethiye, Calis Beach and a one-bed apartment near the beach in Alanya.
Head of private clients at property firm World First Elisabeth Dobson commented: "People are attracted to properties in turkey of £30,000 as they know that in the UK they will have to spend that on a new car."
According to Daily Mail, cheap accommodations are still available, although prices are rising by 20 per cent a year, suggesting those making acquisitions could see their value rise substantially. The country is affordable because it does not use the euro as its currency - making exchange rates more favorable - while the equivalent of council tax costs £150 a year and there are many cheap places to eat and drink. Meanwhile, Turkish news provider Hurriyet recently claimed that the rapid growth of the country's tourism industry will contribute to a property boom in 2010.
Social BookmarkingProperty and lifestyle magazine Quest stated that many British purchasers are looking for homes at the lower end of the market and listed three examples of the sort of bargains UK buyers could enjoy. These included a three-bed, two-bathroom villa with a sea view near Bodrum, a three-bed beach apartment at Fethiye, Calis Beach and a one-bed apartment near the beach in Alanya.
Head of private clients at property firm World First Elisabeth Dobson commented: "People are attracted to properties in turkey of £30,000 as they know that in the UK they will have to spend that on a new car."
According to Daily Mail, cheap accommodations are still available, although prices are rising by 20 per cent a year, suggesting those making acquisitions could see their value rise substantially. The country is affordable because it does not use the euro as its currency - making exchange rates more favorable - while the equivalent of council tax costs £150 a year and there are many cheap places to eat and drink. Meanwhile, 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: British, Investment-property, Property-prices
Investors maintain their long-term confidence
Sunday, June 21, 2009
Despite the disruption of the global economy affecting Turkey's investment climate, overseas investors who invest in Turkey will not lose out, but will instead make considerable profit, according to reports.
According to Deloitte Turkey’s traditional Venture Capital Research, 92 percent of survey participants said they will look at acquisitions within six months, while 88 percent said they have no plans to withdraw from Turkey. Anthony Wilson, Deloitte Turkey Corporate Finance – Partner in charge said that investors still maintain their long-term confidence in establishments located in Turkey. As soon as this environment of uncertainty dissolves, they will obviously restart investments.
The country, running a trillion dollar GDP based on purchasing power parity, is the fifth largest economy of Europe after Germany, UK, France, Italy and Spain, respectively. Recently there has also been an increase in Turkey's permanent business activities. According to the Turkish Treasury's report, foreign direct investments from the Middle Eastern countries have jumped from USD 495 million in 2007 to USD 1.9 billion in the 2009. In addition, Middle Eastern companies have established 471 new companies in Turkey throughout that time period.
Prime Minister Recep Tayyip Erdogan sounded confident as he was unveiling a multibillion lira stimulus package as Turkey's market is rallying on encouraging news from domestic fronts and international markets. In a vote of confidence in the Turkish economy, the Japan Credit Rating Agency (JCR) has affirmed its BB-rating on Turkey's foreign and local currency long-term senior debts. "The outlook of the ratings is stable," the statement said. The report added, however, "A new standby arrangement with the IMF is expected to play an important role in improving the country's international confidence, especially when the economy deteriorates sharply."
Social BookmarkingAccording to Deloitte Turkey’s traditional Venture Capital Research, 92 percent of survey participants said they will look at acquisitions within six months, while 88 percent said they have no plans to withdraw from Turkey. Anthony Wilson, Deloitte Turkey Corporate Finance – Partner in charge said that investors still maintain their long-term confidence in establishments located in Turkey. As soon as this environment of uncertainty dissolves, they will obviously restart investments.
The country, running a trillion dollar GDP based on purchasing power parity, is the fifth largest economy of Europe after Germany, UK, France, Italy and Spain, respectively. Recently there has also been an increase in Turkey's permanent business activities. According to the Turkish Treasury's report, foreign direct investments from the Middle Eastern countries have jumped from USD 495 million in 2007 to USD 1.9 billion in the 2009. In addition, Middle Eastern companies have established 471 new companies in Turkey throughout that time period.
Prime Minister Recep Tayyip Erdogan sounded confident as he was unveiling a multibillion lira stimulus package as Turkey's market is rallying on encouraging news from domestic fronts and international markets. In a vote of confidence in the Turkish economy, the Japan Credit Rating Agency (JCR) has affirmed its BB-rating on Turkey's foreign and local currency long-term senior debts. "The outlook of the ratings is stable," the statement said. The report added, however, "A new standby arrangement with the IMF is expected to play an important role in improving the country's international confidence, especially when the economy deteriorates sharply."
Labels: Investment-property, Market-Trends
Tourists to Turkey opting for longer stays
Wednesday, May 20, 2009
Turkey is one of the best places in the world to invest in a property after the news that Turkey is very close to hitting its tourism target of 25 million visitors in this year, as Holiday-makers are thinking beyond traditional seven- or 14-night breaks in order to save money on overseas trips.
According to Artemis travel Turkey, Around a third (35%) of Artemis Travel customers are staying anywhere between three and 17 nights at its Aegean coast resorts in Turkey, allowing them to shop around for the best flight prices.
Kerim Cavusoglu, president of the Turkish Association of Travel Agents (TURSAB) is confident that this year's winter will bring more opportunities to the Turkish tourism industry than the previous years, local newspaper today’s Zaman reports.
He commented: "Turkey had the potential to turn the adverse effects of the crisis to its own benefit," saying the country is advantageous in many areas compared to its rivals, most importantly that foreign tourists can find services with cheaper prices here and that’s the reason visitors tend to stay longer in Turkey.
According to the Daily Telegraph reports, Turkey is offering a cheaper alternative to the eurozone when it comes to holiday property for rent. As the pound is weak against the euro and budgets are stretched, the country provides a good alternative destination. The cost of living in Turkey is 50% cheaper compared to other countries in Mediterranean region, including the Northern Cyprus.
More than 31 million people visited Turkey in 2008, which could be welcome news for those considering purchasing overseas property in the country. Its popularity as a popular tourist destination could mean that there is a strong rental market for buy-to-let investors.
Social BookmarkingAccording to Artemis travel Turkey, Around a third (35%) of Artemis Travel customers are staying anywhere between three and 17 nights at its Aegean coast resorts in Turkey, allowing them to shop around for the best flight prices.
Kerim Cavusoglu, president of the Turkish Association of Travel Agents (TURSAB) is confident that this year's winter will bring more opportunities to the Turkish tourism industry than the previous years, local newspaper today’s Zaman reports.
He commented: "Turkey had the potential to turn the adverse effects of the crisis to its own benefit," saying the country is advantageous in many areas compared to its rivals, most importantly that foreign tourists can find services with cheaper prices here and that’s the reason visitors tend to stay longer in Turkey.
According to the Daily Telegraph reports, Turkey is offering a cheaper alternative to the eurozone when it comes to holiday property for rent. As the pound is weak against the euro and budgets are stretched, the country provides a good alternative destination. The cost of living in Turkey is 50% cheaper compared to other countries in Mediterranean region, including the Northern Cyprus.
More than 31 million people visited Turkey in 2008, which could be welcome news for those considering purchasing overseas property in the country. Its popularity as a popular tourist destination could mean that there is a strong rental market for buy-to-let investors.
Labels: Investment-property, Tourism
The hottest ticket this summer is a holiday in Turkey
Wednesday, May 6, 2009
The hottest ticket this summer is a holiday in Turkey and it's no surprise why thousands of Brits are expected to visit this non-euro destination in 2009, according to a travel operator.
Thomas Cook, Europe's second largest travel operator has stated that Turkey is the ideal family holiday location and the key appeals of a Turkish holiday this year is affordability. The country is not part of the euro zone and Turkish accommodation remains affordable as the cost of living is low. There are several discounted package holidays now available particularly for those willing to book at the last minute.
Recent figures from the Ministry of Culture and Tourism revealed that Tourist arrivals have risen steadily over the past few years. Turkey's tourist industry is breaking records year-on-year leaping from 9.75 million visitors in 1998 to 30.9 million a decade later in 2008. Undersecretary of the Tourism Ministry has stated that a further 20% increase in the number of British tourists is anticipated in 2009.
Investment in buy-to-let purchases has received a welcome boost from Turkey’s tourist statistics. The Turkish market is also showing promising signs for the resale market. Some 73,000 foreign nationals (mainly Britons, Germans and Greeks) own properties in the country predominantly along the Mediterranean and Aegean coastlines and interest in owning bricks and mortar be it for retirement, a holiday home or buy to let investment continues to be strong.
James González, Market Analyst at Obelisk comments "Although Turkey's still very much an emerging market; the signs are that it's set to become more established during 2009 and Turkey certainly offers some excellent investment opportunities".
Social BookmarkingThomas Cook, Europe's second largest travel operator has stated that Turkey is the ideal family holiday location and the key appeals of a Turkish holiday this year is affordability. The country is not part of the euro zone and Turkish accommodation remains affordable as the cost of living is low. There are several discounted package holidays now available particularly for those willing to book at the last minute.
Recent figures from the Ministry of Culture and Tourism revealed that Tourist arrivals have risen steadily over the past few years. Turkey's tourist industry is breaking records year-on-year leaping from 9.75 million visitors in 1998 to 30.9 million a decade later in 2008. Undersecretary of the Tourism Ministry has stated that a further 20% increase in the number of British tourists is anticipated in 2009.
Investment in buy-to-let purchases has received a welcome boost from Turkey’s tourist statistics. The Turkish market is also showing promising signs for the resale market. Some 73,000 foreign nationals (mainly Britons, Germans and Greeks) own properties in the country predominantly along the Mediterranean and Aegean coastlines and interest in owning bricks and mortar be it for retirement, a holiday home or buy to let investment continues to be strong.
James González, Market Analyst at Obelisk comments "Although Turkey's still very much an emerging market; the signs are that it's set to become more established during 2009 and Turkey certainly offers some excellent investment opportunities".
Labels: Investment-property, Travel
Turkey second home seekers haven
Thursday, December 11, 2008
Second home-seekers looking for affordability, culture and relaxation should check out Turkey, according to a property expert.
Andrew Hawkins, head of Chesterton International estate agents said that Turkey is the number one choice for home seekers who want to live a fantastic quality of affordable life in an accessible, stable and rapidly advancing nation. Turkey has undergone a period of sustained growth while the housing markets in many other European countries have wobbled in recent times.
According to Aston Lloyd, house prices in Turkey are going up at a rate of about seven per cent per annum. People who are thinking of buying a foreign property have been advised that investing in Turkey could be highly profitable and investors who buy early could benefit from capital appreciation.
Turkey has received strong praise from a Gloria Duffy, British property buyer who has recently bought a two-bedroom apartment in Altinkum. Speaking to the Sunday Mail, she said that she had a number of preconceived ideas about Turkey. However, she was proved wrong and now they holiday in Turkey many times and they use their apartment as holiday accommodation at various times of the year.
Turkey is also highlighted as a particularly popular destination for retirees from UK as the cost of traveling to the country is also fairly low, which means expats can still be in easy reach of friends and relatives at home.
In related news, the Association of British Travel Agents (ABTA) has revealed that the number of bookings for trips to the country is 20 per cent up on last year.
Social BookmarkingAndrew Hawkins, head of Chesterton International estate agents said that Turkey is the number one choice for home seekers who want to live a fantastic quality of affordable life in an accessible, stable and rapidly advancing nation. Turkey has undergone a period of sustained growth while the housing markets in many other European countries have wobbled in recent times.
According to Aston Lloyd, house prices in Turkey are going up at a rate of about seven per cent per annum. People who are thinking of buying a foreign property have been advised that investing in Turkey could be highly profitable and investors who buy early could benefit from capital appreciation.
Turkey has received strong praise from a Gloria Duffy, British property buyer who has recently bought a two-bedroom apartment in Altinkum. Speaking to the Sunday Mail, she said that she had a number of preconceived ideas about Turkey. However, she was proved wrong and now they holiday in Turkey many times and they use their apartment as holiday accommodation at various times of the year.
Turkey is also highlighted as a particularly popular destination for retirees from UK as the cost of traveling to the country is also fairly low, which means expats can still be in easy reach of friends and relatives at home.
In related news, the Association of British Travel Agents (ABTA) has revealed that the number of bookings for trips to the country is 20 per cent up on last year.
Labels: Investment-property, Life-style
Turkish housing market benefiting from foreign investment
Thursday, December 4, 2008
People planning to buy property in Turkey may be interested in new figures that have revealed that foreign investment in Turkey has grown considerably over the past five years.
According to new figures, over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas. The changes in the Foreign Direct Investment Law allows foreign companies and individuals to buy bigger chunks of property, thus boosting demand even further. In some parts of the country electricity bills come with an English translation as so many foreigners have now bought property in those areas.
According to Aston Lloyd, Turkey offers very competitive house prices which means investors who buy early could benefit from capital appreciation as in the last four years, house prices are going up at a rate of about seven per cent per annum. He also added that it is fairly easy to pick up a home in Turkey for less than £50,000.
According to Hisham A Rahman Khalifa, investment banking manager at Shamil Bank, in an interview to the Gulf Daily News, house prices in Turkey have gone up consistently since 2002. He added that Antalya and Istanbul are two of the best-performing markets in Turkey, as they have seen more foreign investment in recent years.
Social BookmarkingAccording to new figures, over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas. The changes in the Foreign Direct Investment Law allows foreign companies and individuals to buy bigger chunks of property, thus boosting demand even further. In some parts of the country electricity bills come with an English translation as so many foreigners have now bought property in those areas.
According to Aston Lloyd, Turkey offers very competitive house prices which means investors who buy early could benefit from capital appreciation as in the last four years, house prices are going up at a rate of about seven per cent per annum. He also added that it is fairly easy to pick up a home in Turkey for less than £50,000.
According to Hisham A Rahman Khalifa, investment banking manager at Shamil Bank, in an interview to the Gulf Daily News, house prices in Turkey have gone up consistently since 2002. He added that Antalya and Istanbul are two of the best-performing markets in Turkey, as they have seen more foreign investment in recent years.
Labels: Investment-property, Turkish-property
ArkiPARC 2008 -first international property exhibition in Istanbul
Monday, October 13, 2008
People who are thinking of buying a foreign property have been advised that investing in Turkey could be highly profitable and Istanbul will host Turkey's first international property and architecture exhibition next month, in a move to further increase demand for property in Turkey.
ArkiPARC 2008, organised by Arkitera Architecture will be held at the Harbiye Istanbul on October 15-17. The event is supported by the Istanbul 2010 European Cultural Capital Agency, the Independent Architectural Platform and the Urban Land Institute.
The exhibition for the first time features The European Public Real Estate Association, USA based Portman Holdings and some of the world's leading architects including Nigel Dancey of London based Foster & Partners in Turkey. The property exhibition is considered to place Turkey firmly on the international property map. According to new reports, foreign investment in Turkey has grown significantly over the past five years. Already ten billion dollars (£5.5 billion) has been invested in the country since 2003 and the exhibition is expected to boost further influx of foreign investments.
One of the highlights of the exhibition will be the ArkiPARC Awards' Award Ceremony and there will be awards in three categories - real estate, architecture and construction. The main objective of the exhibition is to assess the gains of the property investments to the city, the purchasers and the investors.
Social BookmarkingArkiPARC 2008, organised by Arkitera Architecture will be held at the Harbiye Istanbul on October 15-17. The event is supported by the Istanbul 2010 European Cultural Capital Agency, the Independent Architectural Platform and the Urban Land Institute.
The exhibition for the first time features The European Public Real Estate Association, USA based Portman Holdings and some of the world's leading architects including Nigel Dancey of London based Foster & Partners in Turkey. The property exhibition is considered to place Turkey firmly on the international property map. According to new reports, foreign investment in Turkey has grown significantly over the past five years. Already ten billion dollars (£5.5 billion) has been invested in the country since 2003 and the exhibition is expected to boost further influx of foreign investments.
One of the highlights of the exhibition will be the ArkiPARC Awards' Award Ceremony and there will be awards in three categories - real estate, architecture and construction. The main objective of the exhibition is to assess the gains of the property investments to the city, the purchasers and the investors.
Labels: Exhibition, Investment-property, Istanbul
Turkish housing market has best moment in 25 years
Monday, September 15, 2008
The Turkish housing market is currently stronger than it has been for 25 years as new figures revealed that over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas.
Market commentators tipped that Turkey has the potential to be one of the most profitable markets for investment during 2008, despite the predicted global credit crunch. Moneycorp has revealed that Turkey is continuing to attract massive levels of interest from investors in places such as the UK. The foreign investment in Turkey has continue to soar which shows that it has achieved the international trust and is set to see an huge influx of overseas investment in the future.
International Herald Tribune has reported that the recent changes to laws of purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector. Government has lifted the ban for overseas investors from acquiring real estate in the country. Liam Bailey, global markets expert at Property Wire has said that the inheritance tax in the country is also relatively low, ranging from one per cent to ten per cent.
Turkey is an emerging market which offers very competitive house prices and it is fairly easy to pick up a home in the country for less than £50,000. However, house prices in Turkey are going up at a rate of about seven per cent per annum which means investors who buy early could benefit from capital appreciation.
Social BookmarkingMarket commentators tipped that Turkey has the potential to be one of the most profitable markets for investment during 2008, despite the predicted global credit crunch. Moneycorp has revealed that Turkey is continuing to attract massive levels of interest from investors in places such as the UK. The foreign investment in Turkey has continue to soar which shows that it has achieved the international trust and is set to see an huge influx of overseas investment in the future.
International Herald Tribune has reported that the recent changes to laws of purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector. Government has lifted the ban for overseas investors from acquiring real estate in the country. Liam Bailey, global markets expert at Property Wire has said that the inheritance tax in the country is also relatively low, ranging from one per cent to ten per cent.
Turkey is an emerging market which offers very competitive house prices and it is fairly easy to pick up a home in the country for less than £50,000. However, house prices in Turkey are going up at a rate of about seven per cent per annum which means investors who buy early could benefit from capital appreciation.
Labels: Investment-property, Market-Trends, Turkish-property
$10bn foreign investment from 2003 to 2007
Monday, July 28, 2008
Today's Zaman has reported that More than $10 billion (£5 billion) was spent by overseas investors buying Turkish real estate till the end of 2007 and the country's economy is growing at an increased rate.
According to Data from the Turkish Statistics Institute, Turkey's economy has continued to experience growth this year during the first quarter of 2008, the country's gross domestic product (GDP) was 6.6 per cent up when compared to 2007.
Property hunters looking for a second home or an investment property may wish to consider buying in Turkey for the low prices available in the country. Sunday mail has reported that Properties start as little as £19,000 for a holiday home, a good deal compared with the costlier areas of the Mediterranean such as Spain and Portugal.
The figures are likely to be of interest to overseas investors considering buying property for sale in Turkey, as the country has already become the "preferred venue" for property investment in the Mediterranean region. With the growing demand, property experts consider, Turkish real estate is as close as investors can get to a safe bet in terms of guaranteed returns.
This comes after the Voices newspaper reported that Turkish properties are becoming increasingly popular with Brits who want to live abroad and predicted that a record number of British buyers will snap up a Turkish residence this year.
Social BookmarkingAccording to Data from the Turkish Statistics Institute, Turkey's economy has continued to experience growth this year during the first quarter of 2008, the country's gross domestic product (GDP) was 6.6 per cent up when compared to 2007.
Property hunters looking for a second home or an investment property may wish to consider buying in Turkey for the low prices available in the country. Sunday mail has reported that Properties start as little as £19,000 for a holiday home, a good deal compared with the costlier areas of the Mediterranean such as Spain and Portugal.
The figures are likely to be of interest to overseas investors considering buying property for sale in Turkey, as the country has already become the "preferred venue" for property investment in the Mediterranean region. With the growing demand, property experts consider, Turkish real estate is as close as investors can get to a safe bet in terms of guaranteed returns.
This comes after the Voices newspaper reported that Turkish properties are becoming increasingly popular with Brits who want to live abroad and predicted that a record number of British buyers will snap up a Turkish residence this year.
Labels: Economy, Investment-property
Turkey: Conditions are right to buy
Monday, July 21, 2008
Overseas property investors thinking of investing in property in Turkey may find it an even more appealing option after the recent research by NatWest International Personal Banking (IPB) has revealed that Turkey will experience huge property demand over the next three years due to cheaper property prices.
According to The NatWest International Personal Banking League of Buying Abroad, the Conditions are right for the value of housing in Turkey to rise during the next few years. The survey revealed the top countries and Turkey is second in the list.
1. Bulgaria - 75%
2. Turkey - 56%
3. France - 46%
Mike Freer, Head of Business Development for NatWest IPB has stated that the research has given a real insight to what brokers feel will be the most successful property markets in the future. Property experts believe that the country's dynamics are strong and that the growth rate is steady despite other nations struggling to cope with the global financial problems.
Turkish Statistics Institute has revealed that during the first quarter of 2008, the country's GDP is 6.6 per cent up on the same point of 2007. Reuters predicted that Turkey's GDP would ascend by 5.2 per cent every year.
The figures are likely to attract foreign investors who are considering buying property in Turkey, as a strong economy could help boost their investment prospects.
Social BookmarkingAccording to The NatWest International Personal Banking League of Buying Abroad, the Conditions are right for the value of housing in Turkey to rise during the next few years. The survey revealed the top countries and Turkey is second in the list.
1. Bulgaria - 75%
2. Turkey - 56%
3. France - 46%
Mike Freer, Head of Business Development for NatWest IPB has stated that the research has given a real insight to what brokers feel will be the most successful property markets in the future. Property experts believe that the country's dynamics are strong and that the growth rate is steady despite other nations struggling to cope with the global financial problems.
Turkish Statistics Institute has revealed that during the first quarter of 2008, the country's GDP is 6.6 per cent up on the same point of 2007. Reuters predicted that Turkey's GDP would ascend by 5.2 per cent every year.
The figures are likely to attract foreign investors who are considering buying property in Turkey, as a strong economy could help boost their investment prospects.
Labels: Investment-property, Turkish-property
Rental potential is a fiscal fact in Turkey
Thursday, July 3, 2008
Rental investors in Turkey could be set to witness a surge in occupancy rates in the next few months, according to experts.
Vural Oger of Oger Tours on an interview to Hurriyet has stated that the number of European holidaymakers is expected to increase as much as ten per cent this year and there is likely to be a significant increase in the number of German visitors possibly of about six per cent. As a result, demand for rental accommodation will increase and generate higher returns for property owners.
Rumi Dogay of the Pamucak Union of Tourism Investors Speaking to TurkishPress.com said that many holidaymakers in the continent opt to visit Turkey this year as many traditional European destinations are on the brink of an economic recession. As a result, Turkey is benefiting appreciably and is expected to attract a record number of holidaymakers in 2008.
TurkishPress.com reported that Turkey attracted more than 23 million foreign leisure travelers last year and it is likely to increase this year. The tourist sector has generated about £1.4 billion in the first 3 months of 2008. This has made Turkey more attractive to foreign property buyers and house prices are spiraling upwards.
Turkey was singled out by the Guardian as a good destination for British holidaymakers to consider because the pound has slumped to a record low against the euro.
Social BookmarkingVural Oger of Oger Tours on an interview to Hurriyet has stated that the number of European holidaymakers is expected to increase as much as ten per cent this year and there is likely to be a significant increase in the number of German visitors possibly of about six per cent. As a result, demand for rental accommodation will increase and generate higher returns for property owners.
Rumi Dogay of the Pamucak Union of Tourism Investors Speaking to TurkishPress.com said that many holidaymakers in the continent opt to visit Turkey this year as many traditional European destinations are on the brink of an economic recession. As a result, Turkey is benefiting appreciably and is expected to attract a record number of holidaymakers in 2008.
TurkishPress.com reported that Turkey attracted more than 23 million foreign leisure travelers last year and it is likely to increase this year. The tourist sector has generated about £1.4 billion in the first 3 months of 2008. This has made Turkey more attractive to foreign property buyers and house prices are spiraling upwards.
Turkey was singled out by the Guardian as a good destination for British holidaymakers to consider because the pound has slumped to a record low against the euro.
Labels: Investment-property, Rentals, Travel
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
New insurance system protects investment interests
Sunday, June 1, 2008
Overseas property investors are being encouraged to take advantage of recent developments in Turkey. Kirelax is one of the new innovations from Century 21 launched in Turkey and the first in the world that covers risks for both tenant and landlord, from its offices in Germany and Croatia.
Turkish daily news has reported that Kirelax's objective is to find a resolution to tenants' apprehensions for inability to pay the rent and Kirelax will pay the rent for one year if the tenant is unable to do so, for reasons of unexpected unemployment, bankruptcy, mishap or sickness etc. Kirelax Plus also supports property-owners by paying rent, maintenance fees and any attorney's fees and court fees that may crop up should the landlord not receive rent for whatever reason.
Barış Birol, Century 21's Director of Channels and Operations in Turkey stated that their aim is to reach a total of 1 million people in five years.
Birol believes that the the insurance scheme they developed in association with insurance brokers ACP Sigorta & Reasürans Brokerliği will also encourage foreign investment. He also added that overseas investors like to invest in real estate that already has tenants and higher rental yields. He further said that the insurance will increase the influx of major real estate investments because it gives assurance in terms of rental yields, and the property investors will feel more comfortable to invest.
Social BookmarkingTurkish daily news has reported that Kirelax's objective is to find a resolution to tenants' apprehensions for inability to pay the rent and Kirelax will pay the rent for one year if the tenant is unable to do so, for reasons of unexpected unemployment, bankruptcy, mishap or sickness etc. Kirelax Plus also supports property-owners by paying rent, maintenance fees and any attorney's fees and court fees that may crop up should the landlord not receive rent for whatever reason.
Barış Birol, Century 21's Director of Channels and Operations in Turkey stated that their aim is to reach a total of 1 million people in five years.
Birol believes that the the insurance scheme they developed in association with insurance brokers ACP Sigorta & Reasürans Brokerliği will also encourage foreign investment. He also added that overseas investors like to invest in real estate that already has tenants and higher rental yields. He further said that the insurance will increase the influx of major real estate investments because it gives assurance in terms of rental yields, and the property investors will feel more comfortable to invest.
Labels: Investment-property, Latest-news
Franklin Templeton aims to expand in Turkey
Friday, May 16, 2008
Annual meeting of the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) in Istanbul was attended by nearly 400 real estate investment professionals.
Turkey offers notable future potential for real estate investment is further asserted by the news that Franklin Templeton Real Estate Advisors is looking for funds to operate in Turkey. At present, Franklin Templeton has invested in one private real estate fund in Turkey and has two business partners locally in Turkey. Franklin Templeton's real estate assets in Turkey include a retail unit and residential properties.
Franklin Templeton Real Estate Advisors plan to invest in Turkey was announced at the yearly conference of the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) in Istanbul. The annual conference was graced with the presence of 400 real estate professionals. Raymond J. Jacobs, managing director of Franklin Templeton Real Estate Advisers has said that Turkey is a good nation for the investors to consider since it is an emerging market, house prices are raising at a substantial rate, therefore creating strong capital growth potential.
Hakan Kodal, president and chief executive officer of Krea Real Estate Development and Investment in Istanbul, said at the conference that the total housing demand is projected to be around 6.9 million units over 10 years. He also said that this is the ideal time to take a medium to long-term position in investing in Turkish real estate.
Social BookmarkingTurkey offers notable future potential for real estate investment is further asserted by the news that Franklin Templeton Real Estate Advisors is looking for funds to operate in Turkey. At present, Franklin Templeton has invested in one private real estate fund in Turkey and has two business partners locally in Turkey. Franklin Templeton's real estate assets in Turkey include a retail unit and residential properties.
Franklin Templeton Real Estate Advisors plan to invest in Turkey was announced at the yearly conference of the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) in Istanbul. The annual conference was graced with the presence of 400 real estate professionals. Raymond J. Jacobs, managing director of Franklin Templeton Real Estate Advisers has said that Turkey is a good nation for the investors to consider since it is an emerging market, house prices are raising at a substantial rate, therefore creating strong capital growth potential.
Hakan Kodal, president and chief executive officer of Krea Real Estate Development and Investment in Istanbul, said at the conference that the total housing demand is projected to be around 6.9 million units over 10 years. He also said that this is the ideal time to take a medium to long-term position in investing in Turkish real estate.
Labels: Investment-property, Latest-news, Turkish-property
New Turkish law will end delays in foreign property transactions
Tuesday, May 6, 2008
It has been officially confirmed the temporary suspension of the issuing of title deeds to overseas investors by the Turkish Constitutional Court will end on July 16th.
Earlier the Constitutional Court of Turkey has stated that a specific section of Article 35 of the Title Deed Act (Tapu), which administrates the property acquisition by non-Turkish nationals, is contrary to the Turkish constitution. John Howell, of the International Law Partnership has said that the issue is not about permission of buying land and property in Turkey, but rather about the relaxation of the rules regarding the amount of land that overseas property investors can buy.
Overseas investors who are likely planning to buy in an officially zoned area of Turkey will have to wait for a short time before it can be secured. Dominic Whiting, editor of the Buying in Turkey guide has said that the amendments will have completely no impact on the mainstream British buyers purchasing property or land but they need to wait until the new law is passed on 16th July. With the implementation of new law, foreign companies will be prevented from buying land only in countryside or possessing over 0.5% of the land in any one province. The changes are not expected to adversely influence Turkey property market in general.
Mr. Howell further added that this is a fleeting measure and once the government decides about the new legislation, the suspension will be lifted. A government spokesman officially confirmed the new law is scheduled to be passed on 16th July 2008.
Social BookmarkingEarlier the Constitutional Court of Turkey has stated that a specific section of Article 35 of the Title Deed Act (Tapu), which administrates the property acquisition by non-Turkish nationals, is contrary to the Turkish constitution. John Howell, of the International Law Partnership has said that the issue is not about permission of buying land and property in Turkey, but rather about the relaxation of the rules regarding the amount of land that overseas property investors can buy.
Overseas investors who are likely planning to buy in an officially zoned area of Turkey will have to wait for a short time before it can be secured. Dominic Whiting, editor of the Buying in Turkey guide has said that the amendments will have completely no impact on the mainstream British buyers purchasing property or land but they need to wait until the new law is passed on 16th July. With the implementation of new law, foreign companies will be prevented from buying land only in countryside or possessing over 0.5% of the land in any one province. The changes are not expected to adversely influence Turkey property market in general.
Mr. Howell further added that this is a fleeting measure and once the government decides about the new legislation, the suspension will be lifted. A government spokesman officially confirmed the new law is scheduled to be passed on 16th July 2008.
Labels: Investment-property, Property-law
New airport at Gazipasa makes Turkey a property hotspot
Tuesday, April 29, 2008
Turkey is anticipated to become one of the most popular destinations from Gatwick to the Mediterranean this year, since the announcement of the new airport at Gazipasa near Antalya.
Simon Ryeland, Director of Principal International has said that increase in number of flights expose this region. This will attract more vacationers and investors looking for property to rent out. British Airways have announced that they will operate 3 flights per week from Gatwick to Antalya from April. The move by the airline signals the growing popularity of the region of Antalya with British holidaymakers. Antalya International Airport already comes second in the busiest airport terminal on the Mediterranean coastline and 14th in the world during 2007.
This is exciting news for the region that has already seen an increase of 25% in tourist numbers since last year. Now travelers will be able to choose from the increased number of flights. Property investors can expect good rental profits and high occupancy in low tourist season also as year round sunshine in turkey extends the rental year.
The Ministry of Forest and Agriculture in Turkey has issued a White Paper on guidelines and restrictions to be introduced up to the year 2025 to ensure that its immaculate and unspoilt coastline remains that way. It may have some impact in the number of new construction but tourism is on the high, the Turkish Riviera will be protected for generations to come and the same high level of tourism can be maintained.
Buildings is restricted to enable coastal resorts to grow but without spoiling any of the natural beauty of turkey, while those who have already invested in properties reaping the rewards of inflation in house prices and high rental yields in all areas which is stimulated by a shortage of available resale and new units.
Simon Ryeland, Director of Principal International has said that increase in number of flights expose this region. This will attract more vacationers and investors looking for property to rent out. British Airways have announced that they will operate 3 flights per week from Gatwick to Antalya from April. The move by the airline signals the growing popularity of the region of Antalya with British holidaymakers. Antalya International Airport already comes second in the busiest airport terminal on the Mediterranean coastline and 14th in the world during 2007.
This is exciting news for the region that has already seen an increase of 25% in tourist numbers since last year. Now travelers will be able to choose from the increased number of flights. Property investors can expect good rental profits and high occupancy in low tourist season also as year round sunshine in turkey extends the rental year.
The Ministry of Forest and Agriculture in Turkey has issued a White Paper on guidelines and restrictions to be introduced up to the year 2025 to ensure that its immaculate and unspoilt coastline remains that way. It may have some impact in the number of new construction but tourism is on the high, the Turkish Riviera will be protected for generations to come and the same high level of tourism can be maintained.
Buildings is restricted to enable coastal resorts to grow but without spoiling any of the natural beauty of turkey, while those who have already invested in properties reaping the rewards of inflation in house prices and high rental yields in all areas which is stimulated by a shortage of available resale and new units.
Labels: Antalya, Infrastructure, Investment-property
Overseas investors tipped to head for Turkey
Sunday, April 27, 2008
The Independent, a British newspaper has reported that Investors who are looking to buy a property at an affordable price have been pointed towards Turkey. Experts consider Turkey as an emerging market and house prices are rising at a considerable rate, therefore creating strong capital growth potential.
The property market in UK is beginning to hold up; the outlook for the British market is getting gloomier by the day as property prices are dropping due to global sense of credit crunch. Property purchasers are increasingly looking overseas to collect returns from their investment.
Despite the fact that the House prices increased by 20 per cent in Turkey last year its property values are relatively cheap when compared with the UK. The increase in property prices due to huge demand for Turkish property and subsequent growth looks likely to continue over the next decade. Many analysts state that this could be the best time to buy properties in turkey due to a lack of risk associated with Turkish market, continuing affordability and the realistic potential for substantial capital appreciation.
Benedek, of Solaris Villas has said that Turkey can be compared to a Spanish property market few years ago and Turkey is a safer bet for overseas property investors. He also said that there is in any case another ten years of good returns can be obtained from the Turkish market.
Turkey offers the holidaymakers requirements of great scenery, climate, over 300 days of sunshine per annum, fine sand beaches, and fabulous countryside including its good-quality infrastructure and amenities. These factors combined with its relatively low cost of living and easy accessibility are said to make it ideal for overseas property purchasers.
Social BookmarkingThe property market in UK is beginning to hold up; the outlook for the British market is getting gloomier by the day as property prices are dropping due to global sense of credit crunch. Property purchasers are increasingly looking overseas to collect returns from their investment.
Despite the fact that the House prices increased by 20 per cent in Turkey last year its property values are relatively cheap when compared with the UK. The increase in property prices due to huge demand for Turkish property and subsequent growth looks likely to continue over the next decade. Many analysts state that this could be the best time to buy properties in turkey due to a lack of risk associated with Turkish market, continuing affordability and the realistic potential for substantial capital appreciation.
Benedek, of Solaris Villas has said that Turkey can be compared to a Spanish property market few years ago and Turkey is a safer bet for overseas property investors. He also said that there is in any case another ten years of good returns can be obtained from the Turkish market.
Turkey offers the holidaymakers requirements of great scenery, climate, over 300 days of sunshine per annum, fine sand beaches, and fabulous countryside including its good-quality infrastructure and amenities. These factors combined with its relatively low cost of living and easy accessibility are said to make it ideal for overseas property purchasers.
Labels: Investment-property, Market-Trends
Purchase a Turkish island
Friday, April 11, 2008
Daily Hürriyet reported about the summer holiday trends research done by Turizm Haber, publisher in the tourism sector. The active holiday's market assessment suggests that number of luxury vacations in Far East has increased to cater for the property investors and purchase of private islands is the new trend in Turkey and Bahamas. Recently four islands were announced for sale in Turkey.
Ayvalık Islands are the group of islands around Ayvalık district of Turkey and four years ago, Cicek Island in Ayvalik, roughly 400,000 square meters in size, originally priced YTL 7.8 million which is approx. £2.5m and due to lack of interest the price was lowered to YTL 6.8 million. Recently the owner of the island declared that this island is for sale, this time for $11 million. The rising prices Turkish property market means buyers are seeing an excellent return on their investment.
Three more Turkish Aegean islands were announced for sale.
Garip Island in Izmir Bademli Bay is for $25 million.
Kstas Island near Gokova of 56,000 square meters costs $ 5.5 million.
Tavsan Island near Bozcaada, which is 980,000 square meters, costs $10 million
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Ayvalık Islands are the group of islands around Ayvalık district of Turkey and four years ago, Cicek Island in Ayvalik, roughly 400,000 square meters in size, originally priced YTL 7.8 million which is approx. £2.5m and due to lack of interest the price was lowered to YTL 6.8 million. Recently the owner of the island declared that this island is for sale, this time for $11 million. The rising prices Turkish property market means buyers are seeing an excellent return on their investment.
Three more Turkish Aegean islands were announced for sale.
Garip Island in Izmir Bademli Bay is for $25 million.
Kstas Island near Gokova of 56,000 square meters costs $ 5.5 million.
Tavsan Island near Bozcaada, which is 980,000 square meters, costs $10 million
Labels: Investment-property, Island, Latest-news
