Turkish Real Estate News
Property Market Trends and Reviews

First time visitors and First-time buyers are starting to turn towards Turkey, their confidence boosted by wide variety of attractions and affordable property prices, research shows.

National Savings and Investment found that 25 per cent of the British people would consider buying abroad where property is cheaper in order to get their foot on the property ladder back in the UK. James Caldwell, director at Fairinvestment.co.uk has stated that investors find cheaper property prices and a lower cost of living in sunnier climets which could make buying their first home more affordable while they continue a high quality of life.

Ahmet Barut, head of the Turkish Hoteliers Federation, believes that Turkey will attract a substantial number of first time tourists this summer. He also added that the weakness of the pound against the euro has made holidaying within the eurozone more expensive. Turkey has attracted more than 23 million holidaymakers last year and upto ten per cent rise is expected in the number of tourists visiting Turkey this year.

TurkishPress.com has reported that Turkey is now being widely regarded as a good-value alternative to traditional European markets. The better quality of life, lower cost of living and the relative affordability of residential property are proving a draw to first-time buyers.

The house prices on the Turkish Riviera are on the rise and would eventually match those in comparable European tourist hotspots such as Greece, Spain and Italy. Property investors who choose to buy a holiday home on the Turkish Riviera could also be making a profitable long-term investment as properties in the coastal resorts starts from £35,000 with realistic capital growth along with a rental yield opportunity.

Labels: Travel, Turkish-property

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.

Labels: Investment-property, Turkish-property

Investors are increasingly deciding that studio flats will offer the best available returns and they are in high demand in Turkey.

Turkish Daily News has reported that developers are even changing construction plans as the demand is related to the fact that studio flats are considered as popular letting opportunities. Another reasons suggested for rise in demand for studio flats are low deposits and resale can be done quite easily as a result of low selling prices.

Dorcas Pye, a property advisor at the Turkish Property Centre, has predicted a prosperous future for the buy-to-let market in Turkey while the country is long been a favourite choice for both holidays and real estate investment. Figures from the Turkish Land Registry General Directorate suggest that construction of studio flats has been increased. The Turkish daily news further added that nearly 80 per cent of new developments are made up of studio flats.

The Telegraph has reported that Turkey could be a good market to consider because it is highly popular among international holidaymakers and has high capital growth which means buy-to-let in Turkey is worth considering.

Labels: Market-Trends, Turkish-property

An expatriate from the UK who has purchased a holiday home in Turkey's Mugla province has highlighted some of the attractions of Turkey.

Speaking to the Independent, Helen Love outlined some of the recent developments which could potentially persuade more people to follow her lead. She said that she had spent £80,000 on a property in Dalyan four years ago and now that the house has gone up in value to about £150,000.

Commenting on the location, she praised the number of lifestyle attractions on offer including beautiful unspoilt beaches, mountain landscapes topped off with a low cost of living. However, she added that this part of Turkey has only recently been tapped into by overseas property buyers.

She praised the quality of the public services to maintain its natural beauty and planning restrictions to evade overdevelopment has made Dalyan so attractive. In addition, she suggested that property owners could stand to benefit from significant capital appreciation in Turkey.

ShelterOffshore.com has recently flagged up Turkey as a good retirement destination.
The website has reported that Turkey has excellent infrastructure, amenities and good weather, as well as relatively low cost of living.

Labels: British, Dalyan, Turkish-property

German investment bank Europhypo has highlighted Turkey as a possible option for investors who are seeking to collect good returns. The bank has said that the earning potential from Turkish real estate is at around 6 times the rate it would achieve in Spain in the same period.

The bank has started financing real estate in Turkey last year but has already amassed £376 million in earnings. Hartwig Glatzki of Eurohypo has said that they had a detailed study before entering the Turkish market. In only one year of operations in Turkey the volume of revenues obtained is comparable to a six year period in Spain.

The Turkish Daily News has reported that the bank anticipates strong returns on the market and it is predicting to accumulate £2 billion in the next five years. Mr Glatzki also stated that the south-east European country could potentially experience a property boom in the near future and property experts feel that Turkey could be a "very interesting market" to watch over for the next few years.

Recently ‘The Independent’ has reported that Turkey is becoming popular because its housing markets are growing at a considerable pace. The house prices went up by 20 per cent in 2007, while its property values are rather cheap when compared with the UK.

Labels: Market-Trends, Turkish-property

AFP has recently reported that European Bank for Reconstruction and Development (EBRD) governors will decide Turkey's inclusion in the bank's line-up of investment countries in October. Turkey's official application was accepted "in principle," yet the ultimate approval process will take place 3 months later. The possibility of including Turkey in EBRDs line-up of investment countries would mark a most significant change.

The Bank, within the outline of strategy for priority to Turkey, will invite overseas investors to invest in banking, Real estate, tourism etc. Turkey is expected to attract high level of private sector investment in the future. David McCormick, U.S. Treasury under-secretary for international affairs, told on Sunday in a meeting of EBRD that Turkey's application would be reviewed thoroughly in the coming months.

Recently Turkey was recommended by ShelterOffshore.com, which said it offers far more affordable property values than the UK. EBRD announced that it is expected to give top priority to investments in Turkey and is likely to declare Turkey as the main target of its enlargement strategy. Overseas property investors could be in line to benefit from the news about Turkey’s possible inclusion in EBRD.

Property experts say Turkey could be a very interesting market to watch over the next few years and are advised to pay close attention to Turkey.

Labels: Latest-news, Turkish-property

The Turkish daily news has reported that the GYODER Turkish Real Estate Summit will take place in Istanbul's Swiss hotel, bringing representatives of the sector in Turkey and international real estate investors together. GYODER was created in 1999 by the representatives of existing and new Real Estate Investment Companies (REICs). The summit will spotlight on the investment opportunities in Turkey during the 7 sessions and in 2 days of the summit. A wide range of international speakers and top personnel from the Turkish Real Estate Industry, several representatives from Government and the Public Sector will also speak at the Summit.

The summit is supported by International organizations such as the National Association of Real Estate Investment Trust, the Urban Land Institute, the European Public Real Estate Association (EPRA) and the Housing Development Administration of Turkey (TOKİ).

Dr Sinan Özkan, chairman of the World Architectural Association, said the desire for new buildings in Turkey should go compatible with modern solutions. In the summits held earlier urban land development, residential investments, foreign capital in Turkey, commercial real estate and good quality constructions are discussed by local and foreign attendees. This is an initiative to find out realistic answers to the main problems in the Turkish real estate market. Nurhan Azizoğlu, vice chairman of GYODER has said that Turkey is a good nation for the property investors to consider. Turkey is an emerging market, house prices are raising at a substantial rate, therefore creating strong capital growth potential.

Meanwhile, Overseas Investors who are looking to buy a property at a realistic price have been pointed towards Turkey. Turkey is getting popular because of its attractions, including its good-quality infrastructure, amenities and year round good climate. These factors, combined with its comparatively low cost of living, are said to make it perfect for overseas buyers.

Labels: Exhibition, Turkish-property

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.

Labels: Investment-property, Latest-news, Turkish-property

Allan Williams from London Metropolitan University has said that Turkey is on the threshold of becoming a major hotspot for retirees who want to live abroad. Expatriates always long for a place which offers culture, good lifestyle and a favourable climate. He also predicted that Antalya will be the main hotspot for older expatriates within the next couple of years.

Recently a poll carried out by Dokuz Eylul University (DEU) of expatriates living in Antalya to check what made them to live there full-time revealed that they are most attracted by the warm climate of the country.

Christer Asp, the Swedish ambassador in Ankara has said that a rising number of people from Sweden desire to have property in Turkey. Retirees from the Scandinavian country are choosing to spend their retirement years overseas and recent migration traffic to Turkey shows its popularity among Swedes who were hoping to relocate permanently.

Mr. Asp commented that Swedish retirees used to relocate in Spain earlier and now the trend is changing as more people are now choosing Turkey. He predicted that about 400,000 Swedes would visit Turkey before next summer and there will be busy relocation traffic of the retirees to turkey in 2008.

Recently the Turkish Press reports have highlighted the popularity of Turkish property with Russian holidaymakers. According to Russia today, more than two million Russian holidaymakers visited Turkey last year.

Labels: Antalya, Turkish-property

Overseas investor who wants to buy property in Turkey has different needs and requirements, and Turkey fulfills their requirements and ensures excellent investment potential. Now golf properties are gaining momentum in turkey due to large influx of golf fans and investment in golf properties.

NuBricks.com states that an 18-hole course is being built in Bodrum as part of a complex which includes hotel and about 4,000 villas. The website believes that the development which features shopping facilities and all other amenities will not only attract golfers but also new investors.

NuBricks.com revealed that Turkey golf tourism has extended its appeal beyond the golfers and the increase in the number of tourists visiting turkey made this as an investment zone with very high potentials for holiday makers and investors alike.

The website added that investment interest in the Bodrum is likely to shoot up as the new infrastructure facilities will boost the appeal of Bodrum. The rental market is already booming with increase in number of tourists. The anticipated increase in prices has created the potential for investors to enjoy a high capital growth

John Howell of the International Law Partnership admired Turkey for proving its credibility as excellent atmosphere for second home buyers.

Labels: Golf-property, Turkish-property

British tourists and investors are tempted by the turquoise coastline, water sports, water skiing and scuba diving that is on offer in many of Turkey's coastal towns. Many people who visit Turkey are impressed by the Mediterranean climate, hospitality and great value of the country that they turn from tourists to property investors.

According to the statistics, even though the prices have gone up to 15 to 20 percent in the last year, prices are still cheap when compared to British standards. Turkey is becoming exciting destination for property buyers and already 17,000 British have property in Turkey. Julian Walker, managing director at Spot Blue has said that one-bedroom flats can go for £25,000, two-beds for £50,000 and villas for £90,000. According to the reports by Conti Financial Services revealed that enquiries about Turkey has increased to a whopping 147 percent when compared to other European countries like Spain, by contrast, enquiries fell by more than 28 per cent.

According to the law on 'property purchase by foreigners in Turkey', foreign nationals are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with the laws. Both Turkish citizens and foreign owners have equal property-ownership rights. The mortgage law available over long periods to house buyers and is expected to transform both the housing market and the Turkey's urban environment. Annual Real Estate Tax (a tax similar to the Council tax in the UK) rates for building land, non-residence-purpose buildings and residential buildings are 0.3%, 0.2%, and 0.1%, respectively. Foreign buyers will have to pay 25 per cent deposit and mortgages are available over 15 years.

Turkish economy is positively moving forward and leads the way in emerging markets and well ahead of popular tourist destinations like Cape Verde, South Africa, Thailand and Egypt. More overseas investors arrive much more conveniently in turkey due to the low cost flights and this of course makes buying property in Turkey more accessible. The development of the property rental market in Turkey is moving in the right directions as Turkey’s tourism figures continue to soar. The rental market can provide a good return on investment for property investors in Turkey with the expected arrival of further low-cost flights to Turkey.

Linda Travella, spokeswoman for the National Association of Estate Agents International has said that buying property in emerging countries requires more research and local knowledge. The process would be different when compared to UK system.

Labels: British, Economy, Turkish-property

Paul Collins, the property editor of The Buy Association has said that Turkey is set to become the capital of new Holiday Property Investment in the New Year. He further said that property market may see radical changes and in 2008 it will see the surfacing of alternative developments different from the type of customary beach villas.

British tourists and investors are tempted by the turquoise coastline, water sports, water skiing and scuba diving that is on offer in many of Turkey's coastal towns. Many people who visit Turkey are impressed by the Mediterranean climate, hospitality and great value of the country that they turn from tourists to property investors.



Mr. Collins further said that the alternative developments instead of beach villas will gain momentum next year and chances of ski properties coming up within next 2 years add value to the already booming property market.

According to the statistics revealed by homefast says that even though the prices has gone up to 15 to 20 percent in the last year, turkey is becoming exciting destination for property buyers and already 17,000 British have property in Turkey.

Labels: Holiday-property, Turkish-property

Experts believe that Turkey's property market has tremendous growth potential and the strength of investment climate in the country is good.

Rhiannon Williamson, director of ShelterOffshore.com said that Turkey's promising improvement as holiday destination has opened vistas to many foreigners choosing to invest in the country. Turkey has been highly sought after as a holiday destination makes property market in great demand and Turkey itself is at the threshold of a predicted property boom.

Ms Williamson further added that 25 million tourists are expected to flock around in turkey this year has added to the awesome interest in properties in Turkey.

She said that Turkish property offers mammoth potential for returns on investment and Turkish government promotes investment of foreigners. Changing policies from the government are clear indications that will greatly increase capital growth for today's property investments.

Turkey is the third most attractive overseas property investment destination for Britons looking to buy abroad, according to a study carried out by 'A Place in the Sun' magazine.

Labels: Turkish-property