$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
posted by EstatesNewz, 12:45 AM
0 Comments
|
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
posted by EstatesNewz, 10:18 PM
0 Comments
|
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
posted by EstatesNewz, 6:48 AM
0 Comments
|
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
|
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
posted by EstatesNewz, 12:17 AM
0 Comments
|
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
posted by EstatesNewz, 11:26 PM
0 Comments
|
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
posted by EstatesNewz, 1:14 AM
0 Comments
|
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
posted by EstatesNewz, 4:27 AM
0 Comments
|
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
posted by EstatesNewz, 10:28 PM
0 Comments
|
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
Social Bookmarking
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
posted by EstatesNewz, 11:40 PM
0 Comments
|
