Overseas investors looking to buy property on a Turkish development could find some "promising" deals as owners look to sell the last few remaining units.

Turquoise makes perfect sense for both investment and lifestyle buyers. The Turquoise development is in an idyllic beachfront location in the peninsula resort of Bodrum on the Aegean Sea. The resort is now complete and fully-functioning as a successful holiday haven; GEM Estates, one of Turkey’s leading developers, in business since 1948, is able to offer a fantastic 30% discount on the last remaining apartments. Most of the properties are quick to sell out and prices for the remaining properties have now been slashed from £66,000 to just £49,693.

Turquoise development has a highly professional rental management with contracts to leading tour operators and online booking agencies. The resort is just 15 minutes from Bodrum’s International Airport and a distinctive cable-car ride to access the resort’s private beach with bar and an array of water sports. Turquoise also offers an unparalleled after sales service including recreational activities complete with maid service and 24-hour reception. The rental yields are anticipated as high as 8 or 9% whilst generous personal use is also a given.

The resort prides itself in being a complete resort by providing a wide range of in house activities and facilities to suit the active and not so active. On-site facilities include a heated indoor pool, "Enchanted Garden" Themed Kiddies Club with daily organized programs, an aqua park, fitness centre, Spa, 9-hole short golf course, Guest Activity Centre for tours and excursions, open air theatre and tennis, volley and basketball courts. The list is not complete; Turquoise has everything buyers might expect from a local town, including bars, café, supermarket, Doctor on call 24 hours, boutiques, dry cleaners, Transport Desk and beauticians.

Buyers who like to take advantage of the 30% discount with two bedroom apartments now priced from just £49,693 can Contact them on info@gemestablished.com, visit www.gemestablished.com.

Labels: New-developments, Property-prices

Turkey is a more financially viable option than Greece for investors seeking to buy property and also for the tourists, it has been reported.

Paul Collins, property editor of BuyAssociation, has stated that Turkey is "significantly" cheaper than Cyprus Property or Greece or elsewhere in the Mediterranean. Mass tourism is a promiscuous business and the summer destinations such as Turkey are looking cheaper than the Greek islands. Most tourists compare prices as readily as they swap holiday snaps when they come home and as Turkey remains outside the single currency offers much better value against the pound for holidaymakers.

Figures reveal that demand for travel to Turkey has increased considerably in 2008 and travel experts have said they expect this pattern to continue in 2009.

The Association of British Travel Agents (Abta) spokesman commented: "the position of the currencies unlikely to get much better in the coming months, holidaymakers are expected to look further afield to North Africa and Turkey, which offer much better value for money and where you can still find dinner for two for £20."

According to Shelter Offshore.com, a £100,000 property purchase in Greece can see costs of around £10,000 added to the bill in the guise of land registry, local tax, transfer tax and other notary fees. This sum can rise to £17,500 when all other expenditure is considered. The website has cited research conducted by leading consumer group Which and has reported that the hidden costs can make migration to Greece costlier for UK consumers. However, Costs in Turkey are comparatively low at around £7,000 it is suggested, potentially representing better value for money.

In related news, Turkey's tourist industry is enjoying a boom, with the number of visitors to the nation has risen by 23 per cent this year, reports Today's Zaman.

Labels: British, Property-prices, Travel

Overseas investors who choose to buy a holiday home on the Turkish Riviera could also be making a profitable long-term investment, according to experts.

In recent years, Turkey has become a hotspot of activity for both overseas property investors and holidaymakers. With hot summers and mild winters, Turkey is quickly becoming a sought-after destination for Brits. The country is easily accessible with budget airlines, while low living costs and ample areas of historical interest may make it an attractive proposition.

ShelterOffshore.com said house prices in Turkey are likely to go up by as much as 15 per cent this year and 40 per cent over the last two years. This is despite the continuing financial problems across the world and the possibility of a global recession.

Purchasing a brand new two-bedroom apartment on a development for just £58,000, a bargain compared to costlier regions of the Mediterranean such as Spain and Portugal. Britons who have been priced out of the domestic housing market are looking for possible opportunities in Turkey. Commenting on this developing trend, the Telegraph said: "Canny young British buyers have invested in rental accommodations in Turkey to gain profit to get on to the UK ladder."

Marc Morley-Freer, spokesperson of Moneycorp commented: "we are still receiving a high level of enquiries relating to buying property in emerging markets like Turkey despite the global property market downturn".

Labels: British, Property-prices, Turkish-Riviera

Those looking for property in Greece may be able to purchase a similar home with comparatively lesser cost if they take a look at Turkey, it has been reported.

Shelter Offshore Cited research conducted by leading consumer group stated that the hidden costs of Greek properties in the guise of transfer taxes, land registry and other notary fees makes the purchase of a £100,000 property can see £10,000 added to the bill. The research suggested that when all other expenditure is considered, this sum can rise to £17,500.

Purchasing a property in Turkey may set you back as little as £19,000 for a holiday home, a bargain compared with Greece and other charges are comparatively low at around £7,000.

The Telegraph stated that first-time buyers from the UK are increasingly snapping up properties in Turkey. This is because they can enter the market at a price which compares very favourably with those in Britain. Besides, the potential for capital growth means such a purchase could prove to be highly lucrative.

Labels: Life-style, Property-prices

Foreign property investors to look for possible investment opportunities in Turkish city of Dalaman, it has been reported.

Foreign Property Buyer stated that the Dalaman region is opened up by low-cost airline easyJet, as it has begun operating direct flights to Dalaman from London Gatwick Airport. The improved accessibility is likely to lead to an influx of holidaymakers and investors which in turn will push up demand for rental accommodation in the area. A spokesperson for Foreign Property Buyer has commented that property prices and rental prices are likely to grow in the region and the frequent flights offered by easyJet may make it as an attractive location for buyers who want to purchase a holiday home overseas.

Dalaman, a stopover destination earlier is increasingly gaining reputation more than that now. The new airport, easy accessibility, cheaper prices and infrastructure improvements have continued to attract tourists making it as a favored destination. Dalaman is also worthy of closer assessment as it offers several attractive inducements for overseas property buyers, including a strong tourist trade that is driving rental demand.

Easyjet have increased the frequency of the flights to five times a week from May 2008 due to growing demand. 60,000 passengers are expected to visit Dalaman over the next year and this could potentially make the region more attractive to foreign property investors who want to enter the rental market.

Labels: Market-Trends, Property-prices, Rentals

Labels: Bodrum, New-developments, Property-prices

Turkey's tourist industry looks set to benefit from the poor weather in the Republic of Ireland as number of holiday bookings has increased this year.

Sunway Travel has revealed that increasing number of people from Ireland is looking to take holidays in the country this summer. The amount of bookings for trips to Turkey is about five per cent higher than at the same time last year.

Tanya Airey, managing director of the company, told the Sunday Business Post that this is mainly due to the warm climate of Turkey. The recent poor weather and memories of last summer's downpours has made many people chose to book last-minute holidays in order to escape from this year's poor weather. She further said that the various financial issues such as the rising cost of living are also failing to deter Irish consumers from taking a break overseas.

The weakness of the pound against the euro has made the financially-stretched Britons can still enjoy bargains and affordable prices in Turkey, as prices are much lower than those in places such as Spain and France.

The official figures from Turkish tourism ministry showed that between January and May 2008, the country attracted 7.3 million visitors which are 15 per cent higher than the amount recorded at the same point of 2007. The increase in the number of vacationers is likely to have positive impact on demand for temporary lodgings, allowing property investors to collect higher rental yields.

Labels: Holiday-property, Property-prices, Tourism

Holidaymakers and property investors could find good value for money as Turkey offers low prices and very favourable exchange rates.

Property in Turkey can cost you as little as £19,000 for a holiday home. Furthermore, it is said that the cost of property in some areas is about half the cost of property in Spain. Turkey is also praised for its good-quality infrastructure, amenities and climate. The improved accessibility could make the region a viable location for prospective holiday home owners to consider.

Stuart Malloy, who recently bought an apartment at Didim, commented that he is amazed by the low prices in Turkey. The relative cheapness of homes in Turkey is a contributing factor for its overwhelming popularity. These factors, combined with its comparatively low cost of living, are said to make it perfect for overseas property purchasers, especially retirees.

ShelterOffshore.com remarked that Turkey might well be a good nation to consider for overseas investors as it is an emerging market, house prices are raising at a substantial rate, therefore creating strong capital growth potential.

The Guardian has recently recommended Turkey as good option for property investors and it described the country as "bargain bagger's bliss".

Labels: Property-prices

Ian Jones, director of investment for Cordea Savills has said that property prices are likely to rise all the time due to the steady growth of the Turkish population. He persuaded investors to invest in property in Turkey because this suggests conditions are ideal for further upward movement in the housing market.

He explained the reason behind the prediction that the population of Turkey is of 70 million people with half of them under 30 and with an average annual population growth is one per cent.
The Independent has reported that that Turkey is becoming popular because their housing markets are growing at a substantial pace. The house prices went up by 20 per cent last year, while its property values are comparatively cheaper than other European countries. Consequently, Turkey could be a perfect destination for overseas investors, as there is greater demand for property for sale; a profitable resale is much more likely.

Property experts believe that Turkish property market is likely to continue expanding at a substantial rate during the next few years. Investors could grab a potential bargain once they enter the market early, as the future sale price will be significantly higher.

Labels: Market-Trends, Property-prices

Turkish Daily News has reported that Turkey is becoming popular with tourists from across Europe and with overseas property buyers.

The Daily Mail has stated that during the last five years, house prices in the most popular areas have gone up by about 25 per cent a year. This indicates Turkey offers strong investment potential to those who wish to sell a house on at a profit. The cost of property is still well below the levels of similar resorts in other popular holiday destinations such as Greece, Spain and Italy. Turkish daily news further said that Prices will raise enough to give Spain's Mallorca and France's Saint Tropez regions run for their money.

Recent statistics reveal that FTB's from the UK are increasingly snapping up properties in Turkey. This is because FTB's can enter the market at a price which compares very favourably with those in Britain. In addition, the potential for capital growth and earning strong rental yields means such a purchase is highly lucrative.

This comes after Times said Holidaymakers could find good value for money if they visit Turkey. The huge influx of tourist’s results in significant investment in popular tourist destinations and property prices are being pushed upwards.

Labels: Property-prices

Property prices are expected to start a rapid acceleration in Istanbul. Everything is perfect for the investors to invest in this major metropolis.

The Chamber of Istanbul Public Accountants and Financial Advisors (İSMMMO),
Done a research titled "Turkey doubles its Value," states that investment in land became good investment vehicles for investors as it yields are more than that of gold. The study notes that gold prices witnessed more than three-and-a-half times rise, and inflation three-fold. Meanwhile, the price of residential spaces has increased 7 to 20-fold post 2001 economic crisis. The study showed that the construction sector is forging ahead, the rental costs of office spaces have also surged upward and a massive 120 percent increase in the last three years.

Istanbul's Pendik Velibaba, Bağcılar and Başakşehir districts offer cheapest housing YTL 1,000 per square meter .property investors can buy a home in Istanbul for between YTL 80,000 and YTL 90,000 ($68,400-77,000) and those were being sold for between YTL 7,000 and YTL 10,000 ($6,000-8,500) in 2001-2002 .Istanbul Real Estate ranks the highest in terms of total returns mainly due to expected capital appreciation on property in Istanbul. Prestigious new builds have become quite popular in the last few years. The cost of residences were 100,000 ($86,000) three years ago, and now priced more than YTL 300,000 ($257,000).The luxury comes at a price as One square meter of the lofts apartments can go for $10,000 today.

Prices of office premises has soared up as more number of foreign businesses are establishing bases in Istanbul and all professionals and workers who in turn require respectable accommodation to buy and let. This demand fuels the investment and excitement among investors, inflating rental yields and pushing up residential and office property prices.

Labels: Istanbul, Office-space, Property-prices