Turkish minister called on Hungarian businessmen and investors to establish partnerships with their Turkish counterparts in order to reach out to the world markets.

Nihat Ergun, Turkey's Industry and Trade Minister invited Hungarian businessmen and entrepreneurs to invest in Turkey. Speaking at the opening of the Turkey-Hungarian Business Council, he said Turkey is a country of opportunities with a competitive market and a liberal business and investment environment.

He also said that Turkey offers alluring opportunities for the businessmen in the region to access markets over a wide area, including Europe, the Middle East, Black Sea, Central Asia and the Gulf region. In reassuring news for overseas investors, he said that Turkey has strengthened its economy thanks to its solid monetary policies and the recent structural reforms. The country has removed all obstacles to investment, improved the business environment and made legal improvements to attract direct foreign investments.

The trade volume between the two countries in 2008 stood at EUR 1.334 billion. "Despite the recession caused by the global economic crisis, it is pleasing that the trade volume between Turkey and Hungary reached EUR 951 million in the first three quarters of 2009", he noted.

Meanwhile, Julian Walker, a spokesman for Spot Blue, a specialist in Turkish property, said: "Turkey is currently one of the best destinations for those looking to invest in overseas property. The country is also one of the few logical choices for those seeking to balance lifestyle and financial advantage in their retirement."

According to recent figures, more than 20,000 homes in the country are currently owned by investors from the UK. It has been reported that the weakening pound could lead to a slew of Britons looking to buy property outside of the eurozone, with Turkey being one of the obvious choices.

Labels: Overseas-property

The coastal town of Didim has been highlighted as a good option for people thinking of investing in foreign property.

Didim has been declared as a center of tourism by the Cypriot Ministry of Culture and Tourism and the new plans for the second largest marina in Europe will boost interest from investors and holiday makers. The $50 million marina's construction is expected to be completed by the end of this year by the Doguş Group. The 282,000 square meter marina will include an extensive dry dock with the capacity to house 650 boats and the marina itself will hold 450 boats.

There is also another project for cruise liners and a customs office to be opened next to the marina, where the large U.S. sailing boats dock. Kamaci, Mayor of Didim said that they are also constructing a highway, a community center and parks to make it as a major holiday destination. The construction of the new amenities and facilities is expected to raise tourism income. This means that owners of temporary lodgings in these areas should benefit from higher occupancy rates and healthy rental yields.

Didim is a rapidly growing holiday resort, offers very competitive house prices. However, growth in the market means that property values are increasing, which means early investors could benefit from capital appreciation.

Labels: Overseas-property

Overseas investors who want to buy a rental property overseas have been encouraged to consider purchasing on the Turkish Aegean coast of Bodrum. The region is recommended to overseas property investors as Turkey's answer to St Tropez.

The unique features of Bodrum as a holiday resort is that it offers active recreational opportunities available during daytime and the unequaled Bodrum nightlife with many more relaxing bays and beaches are available to enjoy. The good weather is considered as one of the main reasons for its popularity among foreign nationals. The Financial Times has reported that the recent program about Bodrum peninsula on television's 'A Place in the Sun' programme has highlighted its attractiveness.

The sandy beaches, with plenty of sunloungers and umbrellas for sunbathing makes it popular for holidaymakers and families. The region provides the opportunity to experience traditional Turkish life only a few minutes away from the hustle and bustle of a modern tourist center and also the generally high quality of the holiday home developments in Bodrum makes it a pleasant and relaxed place to visit.

Lutfi Yigenoglu, governor of Mugla province, speaking to TurkishPress.com, stated that towns such as Bodrum and Fethiye are attracting more visitors this year. Figures from the Turkish Hotels Federation showed that the number of foreign arrivals went up by 15 per cent in the first half of 2008. The figures are welcome reading for people who own rental accommodation in Bodrum, as they suggest that demand for rental accommodations is growing significantly and resulting in higher rental yields.

Labels: Bodrum, Overseas-property, Rentals

Tourism authorities from Turkey have outlined their intention to raise the profile of the country overseas and are now in Beijing to launch a major promotional campaign, according to local media.

The Turkish Daily News has reported that nearly £730,000 will be spent on marketing the country to an international audience throughout the Olympic Games. Billboards and posters for Turkish towns and cities will be placed in various places across Beijing, including shopping centers and other public spaces. Besides, promotional films will be shown on shuttle buses between the city centre and Beijing Airport.

Commercials and Ads of Turkish towns, beaches and golf courses will also be displayed in public transports, petrol stations, hotels and lifts in order to attract more visitors. The government-funded promotional campaign should make places like Antalya, Izmir and v as attractive locations for holiday home buyers who want to enjoy leisure pursuits while overseas and this campaign will be carried out until the end of September. The main focus will be on highlighting Turkey’s natural and cultural diversity and this would help it to illustrate the modern lifestyle of Turkey.

The Turkish Daily News also reported that about £71 million will be invested on marketing the country in places such as the UK, the US and Spain. Consumers in South America, Australia and South Africa will also be targeted by the drive, which will spotlight different parts of the country. The government wants to project Turkey as a year-round holiday destination.

This could also stimulate growth in Turkey's housing market, a development which would possibly attract the attention of foreign property investors.

Labels: Overseas-property, Turkish-property

Overseas property investors have been advised to consider looking at lucrative investment opportunities in emerging markets, experts have advised.

A recent study by Real Capital Analytics (RCA), a research and consulting firm revealed that in the first quarter of the year, the volume of real estate deals in the industrialized world fell 54 percent compared to the previous year. But in the same period, the real estate deals in emerging markets rose to 43 percent.

Les Calvert, director of property-abroad.com has commented that investing in offplan builds in emerging markets are beneficial. "The benefits are always there, you can make a lot of money," Mr. Calvert said.

Financial times have reported that Turkey has caught the eye of investors. The news provider highlighted the affordable property prices as one of the main attractions of Turkey, along with the good infrastructure and high-quality buildings. Morgan Stanley has reported that foreigners have invested nearly $3.5 billion into Turkish property last year which was up from $2.9 billion in 2006. The publication cited Kuwait Investment Authorities investment of $750 million in the Cevahir shopping mall in Istanbul as an example for the upward trend.

According to the Times, a residence along Turkey's south coast could be snapped up relatively cheaply for £35,000. The publication also added that property prices in Turkey are currently well below the EU average.

Recently the Turkish Statistics Institute revealed that, the country's gross domestic product was 6.6 per cent up during the first quarter of 2008 when compared to last year.

Labels: Market-Trends, Overseas-property

According to The Dogan News Agency reports, overseas property buyers are increasingly choosing to snap up properties in the Turkish city of Sinop as the government anticipates an increase in visitor numbers in the region following the reopening of its airport.

Today's Zaman has stated that the reopening defunct airports as a result of growing demand for air travel and the work to reopen the airport in Sinop has already commenced.

Commenting on the move, Zeki Sanal, Sinop's governor has said that the facility would promote the local economy and improve accessibility to the region. He further stressed about the importance of government’s high priority of Industrialization and economic development in the region.

The reopening of the airport comes after its initial closure in 2002 and this is a measure of how much interest in traveling to Sinop region has gone up in recent years. The renovation of the airport should open up the region to overseas property investors. The investors who enter the market early could be well-placed to take advantage of the low prices in the region.

Property experts believe that Sinop offers fantastic opportunity for many overseas investors, particularly those at the lower end of the market looking to take their first step on the property ladder with a wider range of properties that fall within their budget.

Labels: Overseas-property, Sinop

Recently Culture and tourism minister Ertugrul Gunay said that Turkey attracted more than 23 million foreign holidaymakers in 2007, reports TurkishPress.com. He added that this makes it the ninth-most visited country in the world in 2007 and is ranked in 11th place in terms of the amount of revenue generated by tourism.



The Turkish Daily News has reported that the number of people visiting Turkey from Russia and the Ukraine could surpass two million by the end of the year. Turkey is likely to attract a greater number of Ukraine holidaymakers this year following the launch of new flights.

The Kyiv Post has recently reported that Turkey attracted 590,000 people from the Ukraine in 2007 which is 22% more than in 2006. Tourists from Ukraine are becoming the "most prominent force" in the Turkish tourist trade. The increase in the number of tourists from Ukraine is reflected in the increase in the number of flights being offered to Turkey.

Ali Altunbas of Adore Toure has said that initially they organised about 20 flights to Antalya per week. Currently, the number of flights is increased to 50 per week. A representative from Karya Tour has revealed that its client volume is growing by 40% a year, with many passengers going to Turkey.

Consequently, this could result in Turkey's real estate sector having a busy year as Turkey is considered to be a potentially good market for overseas property investors to consider, since they could possibly collect strong rental returns.

This comes after the Turkish Daily News reported that the Turkish government is to invest £71 million for efforts to promote the country as a holiday destination all year round.

Labels: Overseas-property, Tourism

The newspaper Daily Mail reported that properties in Turkey are not only cheaper than those in neighboring Mediterranean nations but also it has a number of lifestyle attractions which appeal to overseas investors. The publication highlighted Turkey's physical attributes including its warm weather, attractive scenery and exotic culture. Besides, it revealed that its comparatively low cost of living is also proving attractive to property investors.

The cheap prices, good-quality infrastructure, amenities and climate are sure to drive the interest in property investment and make Turkey as property hotspot in the future. Turkish Press revealed government official figures that till March 2008, the tourism sector generated about £1.4 billion.

Property experts recommend Turkey as good option for investors as it is much less expensive than property in Spain . Recent report in the Guardian said Turkey is a good destination for Britons who want to travel somewhere as France and Spain has become expensive. The publication recommended Turkey as an ideal alternative as it has more favourable exchange rates.

The Telegraph stated that potential UK purchasers who have been priced out of the domestic housing market are looking for potential opportunities in Turkey as it is a cheaper alternative to UK, Spain and other European countries. This is because overseas property investors can enter the property market at a price which compares very favourably with those in Spain or UK.
In addition, the potential for capital growth and strong rental yields means property purchase in Turkey could prove to be highly lucrative.

Labels: Market-Trends, Overseas-property

Labels: British, Overseas-property