Turkey emerges as investment favorite
Friday, December 18, 2009
Turkey is a country that is rapidly emerging as a hotspot for overseas property investors, it has been stated.
In Dubai to open Akbank's office in the Dubai International Finance Center (DIFC), Suzan Sabanci Dincer, Akbank Chairman, has said Turkish companies can attract capital through professionalism.
"The Gulf countries have set their sights on Turkey", said Sabanci. "Fewer countries in the world are attracting investments. Turkey's young population and favorable average age are attracting interest. Foreign investors see Turkey as a bridge in this sense. I can see the possibility of Saudi Arabia investing in Turkey. " He added.
According to Mortgage Solutions-online, Mortgage expert with Conti Finance Michael Axelrod said that the country is "rising fast, becoming one of the top investment destinations in 2009". He also remarked that the country is tipped to see tourist numbers reach 30 million this year, stating that this is good news for holiday rentals investors as demand for these "will continue to outstrip supply".
Mr. Axelrod said his firm has seen a 65 per cent rise in applications for homeowner loans in the country, with Turkey benefiting from not being in the Euro zone and therefore being cheaper for UK buyers.
In related news, Atlas International recently cited Turkey as a popular location for investors looking to make purchases outside of the eurozone, as prices in the country are low compared to elsewhere in Europe.
Social BookmarkingIn Dubai to open Akbank's office in the Dubai International Finance Center (DIFC), Suzan Sabanci Dincer, Akbank Chairman, has said Turkish companies can attract capital through professionalism.
"The Gulf countries have set their sights on Turkey", said Sabanci. "Fewer countries in the world are attracting investments. Turkey's young population and favorable average age are attracting interest. Foreign investors see Turkey as a bridge in this sense. I can see the possibility of Saudi Arabia investing in Turkey. " He added.
According to Mortgage Solutions-online, Mortgage expert with Conti Finance Michael Axelrod said that the country is "rising fast, becoming one of the top investment destinations in 2009". He also remarked that the country is tipped to see tourist numbers reach 30 million this year, stating that this is good news for holiday rentals investors as demand for these "will continue to outstrip supply".
Mr. Axelrod said his firm has seen a 65 per cent rise in applications for homeowner loans in the country, with Turkey benefiting from not being in the Euro zone and therefore being cheaper for UK buyers.
In related news, Atlas International recently cited Turkey as a popular location for investors looking to make purchases outside of the eurozone, as prices in the country are low compared to elsewhere in Europe.
Labels: Latest-news
EU economic report boost Turkish property
Thursday, November 26, 2009
Increasing numbers of visitors, a new list of reputable real estate agents and the news that Turkey set to become the fastest growing country in Europe in 2010 with a 2.8 percent growth rate are set to give Turkey's property market a boost.
European Commission's economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011. The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011. Tourism officials expect the number of tourists to increase significantly in 2009 and again in 2010 when Istanbul becomes European Capital of Culture.
According to the World Tourism Organization (WTO), Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009. Overall figures from the Turkish tourism department indicate that visitor numbers are predicted to rise by 10% this year bringing in billions of dollars worth of revenue.
Tourism minister Ertugrul Gunay said that Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world.
Further good news for Turkish property investors is the property prices have been falling like many other parts of Europe and are set to become even more attractive to foreign real estate investors especially those from the UK as the pounds continues to be weak against the euro and the dollar.
Social BookmarkingEuropean Commission's economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011. The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011. Tourism officials expect the number of tourists to increase significantly in 2009 and again in 2010 when Istanbul becomes European Capital of Culture.
According to the World Tourism Organization (WTO), Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009. Overall figures from the Turkish tourism department indicate that visitor numbers are predicted to rise by 10% this year bringing in billions of dollars worth of revenue.
Tourism minister Ertugrul Gunay said that Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world.
Further good news for Turkish property investors is the property prices have been falling like many other parts of Europe and are set to become even more attractive to foreign real estate investors especially those from the UK as the pounds continues to be weak against the euro and the dollar.
Labels: Latest-news, Market-Trends
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
Turkey is an opportunity to Europe not threat
Friday, July 17, 2009
Turkey will have the EU's second-highest economic growth and the country is not a threat to Europe, but an opportunity, according to British Foreign Secretary David Miliband.
in German daily Frankfurter Allgemeine Zeitung , British Foreign Secretary David Miliband wrote, "Turkey is not a threat to Europe, but an opportunity", arguing against European leaders those who oppose Turkey's European Union membership bid. He has stated that According to OECD projections, Turkey will have the EU's second-highest economic growth; it can be a key route for transporting oil and gas from the Middle East and Central Asia. This shows that Turkey is not a threat to Europe, but an opportunity.
In Brussels, Turkey’s Prime Minister Recep Tayyip Erdogan restated its determination to join the European Union, despite signs of growing opposition from some leading European countries, saying he hoped to sign a deal next month to bring Turkey into the planned Nabucco gas pipeline project, which will transfer Central Asian gas to Europe. "We cannot accept the positions France and Germany have taken. Our goal is full membership" said Erdogan.
According to Propertywire reports, foreign buyers have spent in excess of $10 billion (£5.4 billion) in the last five years. Orhun Ozdener Vahaboglu, a real estate agent in Istanbul, noted that the value of coastal property in Turkey was rising because of the increased interest from foreigner purchasers. He commented: "Turkey has become a popular choice for those looking for investment properties overseas, as the European membership is a pending issue. As soon as this is realised, we may expect that the prices will double."
Meanwhile, Nobel Prize winners, Chicago University Professor Robert Lucas and Arizona State Professor Edward Prescott, expressed their opinions on the recovery of the Turkish economy during the annual meeting of the Economic Dynamics Association. They are optimistic about the Turkish economy and expressed that, despite the recession seen in the first quarter of the year, rapid economic growth will be achieved depending on the recovery of markets that Turkey trades with.
Social Bookmarkingin German daily Frankfurter Allgemeine Zeitung , British Foreign Secretary David Miliband wrote, "Turkey is not a threat to Europe, but an opportunity", arguing against European leaders those who oppose Turkey's European Union membership bid. He has stated that According to OECD projections, Turkey will have the EU's second-highest economic growth; it can be a key route for transporting oil and gas from the Middle East and Central Asia. This shows that Turkey is not a threat to Europe, but an opportunity.
In Brussels, Turkey’s Prime Minister Recep Tayyip Erdogan restated its determination to join the European Union, despite signs of growing opposition from some leading European countries, saying he hoped to sign a deal next month to bring Turkey into the planned Nabucco gas pipeline project, which will transfer Central Asian gas to Europe. "We cannot accept the positions France and Germany have taken. Our goal is full membership" said Erdogan.
According to Propertywire reports, foreign buyers have spent in excess of $10 billion (£5.4 billion) in the last five years. Orhun Ozdener Vahaboglu, a real estate agent in Istanbul, noted that the value of coastal property in Turkey was rising because of the increased interest from foreigner purchasers. He commented: "Turkey has become a popular choice for those looking for investment properties overseas, as the European membership is a pending issue. As soon as this is realised, we may expect that the prices will double."
Meanwhile, Nobel Prize winners, Chicago University Professor Robert Lucas and Arizona State Professor Edward Prescott, expressed their opinions on the recovery of the Turkish economy during the annual meeting of the Economic Dynamics Association. They are optimistic about the Turkish economy and expressed that, despite the recession seen in the first quarter of the year, rapid economic growth will be achieved depending on the recovery of markets that Turkey trades with.
Labels: Latest-news
Turkey announce comprehensive economic stimulus package
Tuesday, April 14, 2009
The Turkish government announced a comprehensive economic stimulus package and new regulations will lower the private consumption tax rates while the value added tax (VAT) also will be lowered from 18 to 8 percent.
The government has previously introduced three smaller packages and the Central Bank in February has lowered its benchmark interest rates to a record low of 11.5 percent. The new tax regulations seek to stimulate domestic demand in Turkey's leading industries. Industry Minister Zafer Caglayan explained the details of the reduction that the package will introduce temporary tax cuts for three months in the housing, home appliances, and automotive sectors. The VAT on apartments over 150 square meters (1,614 square feet) in size will be lowered from 18 to 8 percent. The package also foresees measures to boost exports by allocating an additional 500 million liras ($296 million) to Eximbank, a state-owned bank geared to supporting exporters.
The minister commented: "We are aiming for three things in this law, which is regarded as both a regional and a sectoral incentive: Strong competitiveness, high added-value and international competitive power. The investors will make their investments according to the new law. Following the enforcement of the law, we expect a substantial increase in foreign investments".
According to the International Investors Association (YASED) report, investors currently waiting to carry out new investments in Turkey believe that economic sentiment would shift to a more positive outlook in 2010. Turkey's city investment arena is now taking a strong hold, where huge foreign investment and new commercial activity in centers such as Istanbul are prompting some great investment opportunities in both residential and commercial property.
In a related development, Turkey held direct talks with the IMF after a long period. Although Turkey maintained that the conditions set forth by the IMF were "unacceptable" and against the country's national interests, industry experts believe that following local elections at the end of March, Turkey might finally go ahead and conclude the IMF loan agreement.
Social BookmarkingThe government has previously introduced three smaller packages and the Central Bank in February has lowered its benchmark interest rates to a record low of 11.5 percent. The new tax regulations seek to stimulate domestic demand in Turkey's leading industries. Industry Minister Zafer Caglayan explained the details of the reduction that the package will introduce temporary tax cuts for three months in the housing, home appliances, and automotive sectors. The VAT on apartments over 150 square meters (1,614 square feet) in size will be lowered from 18 to 8 percent. The package also foresees measures to boost exports by allocating an additional 500 million liras ($296 million) to Eximbank, a state-owned bank geared to supporting exporters.
The minister commented: "We are aiming for three things in this law, which is regarded as both a regional and a sectoral incentive: Strong competitiveness, high added-value and international competitive power. The investors will make their investments according to the new law. Following the enforcement of the law, we expect a substantial increase in foreign investments".
According to the International Investors Association (YASED) report, investors currently waiting to carry out new investments in Turkey believe that economic sentiment would shift to a more positive outlook in 2010. Turkey's city investment arena is now taking a strong hold, where huge foreign investment and new commercial activity in centers such as Istanbul are prompting some great investment opportunities in both residential and commercial property.
In a related development, Turkey held direct talks with the IMF after a long period. Although Turkey maintained that the conditions set forth by the IMF were "unacceptable" and against the country's national interests, industry experts believe that following local elections at the end of March, Turkey might finally go ahead and conclude the IMF loan agreement.
Labels: Economy, Latest-news
Antalya Sunsplash beach party
Saturday, March 14, 2009
Overseas property buyers may be able to take advantage of increasing visitor numbers in Turkey's Antalya province.
Festival goers can try something new this summer as Antalya, the stunning beach resort prepares itself for SunSplash Music Week which runs from 3-10 May 2009 bringing together some of the UK’s and Turkey’s most leading DJs and musicians to provide the ultimate musical accompaniment . Sunsplash Antalya has teamed up exclusively with Hillside Su-Turkey's hippest design hotel with its blue flag awarded beach front to offer a unique holiday and festival combo. Prices for this week long sunset beach party is £640 per person including accommodation, meals and all parties
This boutique festival brings together the inspirational musical entertainment to a week of lazy beach days, sunset beach parties and late night club sessions. Add to this the magnificent surroundings of the Hillside Su, Turkey's achingly chic, minimalist white decor hotel with alternative therapies, yoga and world class spa facilities, contemporary belly-dancing, capoeira, percussion lessons, contemporary Turkish & international cuisine, and holidaymakers have the perfect elements in place for a healthy, comfy holiday.
According to the Mediterranean Tourism Hotels Union (AKTOB), hotel occupancy rates in Antalya region have already reached their highest levels and privately-owned holiday homes are also becoming highly sought after.
Sururi Corabatir, chairman of AKTOB said that the increase in visitor numbers over the last few months as a "remarkable" development.
Festival goers can try something new this summer as Antalya, the stunning beach resort prepares itself for SunSplash Music Week which runs from 3-10 May 2009 bringing together some of the UK’s and Turkey’s most leading DJs and musicians to provide the ultimate musical accompaniment . Sunsplash Antalya has teamed up exclusively with Hillside Su-Turkey's hippest design hotel with its blue flag awarded beach front to offer a unique holiday and festival combo. Prices for this week long sunset beach party is £640 per person including accommodation, meals and all parties
This boutique festival brings together the inspirational musical entertainment to a week of lazy beach days, sunset beach parties and late night club sessions. Add to this the magnificent surroundings of the Hillside Su, Turkey's achingly chic, minimalist white decor hotel with alternative therapies, yoga and world class spa facilities, contemporary belly-dancing, capoeira, percussion lessons, contemporary Turkish & international cuisine, and holidaymakers have the perfect elements in place for a healthy, comfy holiday.
According to the Mediterranean Tourism Hotels Union (AKTOB), hotel occupancy rates in Antalya region have already reached their highest levels and privately-owned holiday homes are also becoming highly sought after.
Sururi Corabatir, chairman of AKTOB said that the increase in visitor numbers over the last few months as a "remarkable" development.
Labels: Antalya, Latest-news
Turkish tourism's official portal is one of Google's most visited sites
Tuesday, March 10, 2009
Overseas property investors could benefit from Turkey's popularity as a holiday destination, with reports that Turkish tourism's official portal, www.goturkey.com, is one of Google's most visited sites.
According to Istanbul Bulletin, Turkey's site received eight out of a total of ten points for its importance and worldwide popularity. The spokesperson of the Turkish ministry of tourism has said that the website was designed to reach international markets and large audiences. The website brings together both public and private companies to showcase the best of what holidays in Turkey have to offer, communications, details about tourist offices, time zones, currency regulations etc.
The website states that Turkey combines great beaches, delicious food, culture and value for money with temperatures of up to 75F in November and the country is a year-round holiday destination.
According to Today's Zaman, Kerim Cavusoglu, president of the Turkish Association of Travel Agents (TURSAB) has said that he is pleased by the positive developments in the tourism sector and believes the industry will present a number of new opportunities over the course of the next few years. The amount of holidaymakers deciding to take a break in the country has risen by 23 per cent this year.
Turkey's tourist industry is enjoying a boom which could make buying a property in a popular holiday region a profitable venture for overseas investors.
Social BookmarkingAccording to Istanbul Bulletin, Turkey's site received eight out of a total of ten points for its importance and worldwide popularity. The spokesperson of the Turkish ministry of tourism has said that the website was designed to reach international markets and large audiences. The website brings together both public and private companies to showcase the best of what holidays in Turkey have to offer, communications, details about tourist offices, time zones, currency regulations etc.
The website states that Turkey combines great beaches, delicious food, culture and value for money with temperatures of up to 75F in November and the country is a year-round holiday destination.
According to Today's Zaman, Kerim Cavusoglu, president of the Turkish Association of Travel Agents (TURSAB) has said that he is pleased by the positive developments in the tourism sector and believes the industry will present a number of new opportunities over the course of the next few years. The amount of holidaymakers deciding to take a break in the country has risen by 23 per cent this year.
Turkey's tourist industry is enjoying a boom which could make buying a property in a popular holiday region a profitable venture for overseas investors.
Labels: Latest-news, Tourism
Turkey will withstand market turmoil
Thursday, October 9, 2008
Turkey's prime minister has insisted that the country's economy is strong enough to withstand the current global economic turmoil.
Recep Tayyip Erdogan stated that the European nation has developed a highly robust and resilient economy in recent years, which means it should not be negatively affected by economic problems and can weather the storm as it is supported by strong economic fundamentals, reports the Turkish Daily News.
The markets were plunged into pandemonium when US investment bank Lehman Brothers collapsed. But Turkey is an attractive option for overseas property buyers as financial authorities in Turkey have recently reassured in its ability to withstand the current turmoil on the markets. The various fundamentals which support the market would make certain that the underlying value of property in the region will not go down. According to Aston Lloyd, Turkey offers very competitive house prices. However, in the last four years, house prices in Turkey are going up at a rate of about seven per cent per annum.
Mr Erdogan commented: "There is no systemic risk as a result of the fallout in international money markets as Turkey has enforced the macroeconomic infrastructure of its economy." Shelter Offshore reiterated prime minister’s views and said that the Turkish housing market is currently "buzzing" as a result of its favourable investment climate.
This comes after the predictions from Moneycorp that Turkey will attract a high level of interest from investors in places such as the UK, regardless of ongoing economic problems.
Social BookmarkingRecep Tayyip Erdogan stated that the European nation has developed a highly robust and resilient economy in recent years, which means it should not be negatively affected by economic problems and can weather the storm as it is supported by strong economic fundamentals, reports the Turkish Daily News.
The markets were plunged into pandemonium when US investment bank Lehman Brothers collapsed. But Turkey is an attractive option for overseas property buyers as financial authorities in Turkey have recently reassured in its ability to withstand the current turmoil on the markets. The various fundamentals which support the market would make certain that the underlying value of property in the region will not go down. According to Aston Lloyd, Turkey offers very competitive house prices. However, in the last four years, house prices in Turkey are going up at a rate of about seven per cent per annum.
Mr Erdogan commented: "There is no systemic risk as a result of the fallout in international money markets as Turkey has enforced the macroeconomic infrastructure of its economy." Shelter Offshore reiterated prime minister’s views and said that the Turkish housing market is currently "buzzing" as a result of its favourable investment climate.
This comes after the predictions from Moneycorp that Turkey will attract a high level of interest from investors in places such as the UK, regardless of ongoing economic problems.
Labels: Latest-news, Turkish-property
Demand for Turkish property is out stripping supply
Sunday, June 29, 2008
Istanbul's Chamber of Commerce (ITO) has stated that the requirement for residential properties in Turkey has increased massively to manage the anticipated demand in the future. Turkey will need between 300,000 and 350,000 new properties to be constructed annually.
The steady growth of the Turkish population means that nearly 5.5m new homes has to be constructed to accommodate the country’s growing population by 2016, according to the figures from ITO.
Property experts believe that the growing spending power of consumers as a good reason to invest in both residential and retail property. Ian Jones, director of investment for Cordea Savills, said that the conditions are right for further upward movement in the housing market and increase in property prices.
Turkey appears to be enjoying a surge in popularity with overseas investors for its year round good weather, low living costs, healthy food, a friendly population and a relaxed lifestyle. The figures from Turkey's Land Registry General Directorate showed that nearly 73,000 foreigners now own property in Turkey and 17,000 are from UK.
ShelterOffshore.com has reported that Turkey offers far more affordable property values than the UK and investors could snap up a potential bargain if they enter the market early. House prices in the most popular areas have gone up by about 25 per cent a year. This indicates that the country offers strong investment potential to those who wish to sell the house in future.
Social BookmarkingThe steady growth of the Turkish population means that nearly 5.5m new homes has to be constructed to accommodate the country’s growing population by 2016, according to the figures from ITO.
Property experts believe that the growing spending power of consumers as a good reason to invest in both residential and retail property. Ian Jones, director of investment for Cordea Savills, said that the conditions are right for further upward movement in the housing market and increase in property prices.
Turkey appears to be enjoying a surge in popularity with overseas investors for its year round good weather, low living costs, healthy food, a friendly population and a relaxed lifestyle. The figures from Turkey's Land Registry General Directorate showed that nearly 73,000 foreigners now own property in Turkey and 17,000 are from UK.
ShelterOffshore.com has reported that Turkey offers far more affordable property values than the UK and investors could snap up a potential bargain if they enter the market early. House prices in the most popular areas have gone up by about 25 per cent a year. This indicates that the country offers strong investment potential to those who wish to sell the house in future.
Labels: Latest-news
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
Turkey's possible inclusion in EBRD excite property investors
Thursday, May 22, 2008
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.
Social BookmarkingThe 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
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
Queen's visit reiterates Turkey's EU accession
Wednesday, May 14, 2008
The Queen and the Duke of Edinburgh began a historic visit to Turkey on 13 may for the first time since 1971. The Queen will arrive in the Turkish capital on 13th evening and also accompanied by a delegation including foreign minister David Miliband, will spend four days in Turkey, visiting places such as Istanbul, Bursa and Ankara.
The British government has time and again supported the idea of Turkey’s EU accession, although countries such as France are against it. British Prime Minister Gordon Brown has already been publicly supported Turkey's planned bid to become an EU member.
Foreign Property Buyer commented has reported that Turkey is attracting high levels of interest from investors in other countries. The news portal also added that Turkey's efforts to join the EU means there is massive potential for capital growth in its housing market.
Foreign Office spokesperson said in a press conference about Queen’s visit to Turkey is a symbolic statement to reiterate British support for democratic transformations and modernisation in Turkey and continuous support for its ultimate accession to the EU.
The British government has time and again supported the idea of Turkey’s EU accession, although countries such as France are against it. British Prime Minister Gordon Brown has already been publicly supported Turkey's planned bid to become an EU member.
Foreign Property Buyer commented has reported that Turkey is attracting high levels of interest from investors in other countries. The news portal also added that Turkey's efforts to join the EU means there is massive potential for capital growth in its housing market.
Foreign Office spokesperson said in a press conference about Queen’s visit to Turkey is a symbolic statement to reiterate British support for democratic transformations and modernisation in Turkey and continuous support for its ultimate accession to the EU.
Labels: Latest-news
Turkish golf courses attract more visitors
Saturday, May 3, 2008
A KPMG Golf Advisory Services recent study has found that Turkey is set to become one of the world's hotspots for golf holidays. Travel Daily News reports say that Turkey is on the threshold of dislodging France and Spain as the golf centers of the world.
Head of KPMG's specialist Golf Advisory Services Team has said that the golf industry is currently benefiting from the continuous development of the travel and tourism industry. Turkey is posing a stiff challenge to the traditional golf markets of Europe and North America as it offers high quality golfing experiences at affordable prices.
Turkey's aviation sector was recently cited as one of the reasons for the country's emergence as a golfing destination during the last few years. The increase of new golfing facilities in Turkey is anticipated to have a positive impact on increasing the country's appeal to overseas investors.
The launch of new flights to and from the country could boost the tourism industry even further. Rhiannon Williamson of ShelterOffshore.com has stated that 25 million vacationers are expected to arrive in Turkey this year. It could tempt foreign property buyers to invest in the turkey’s property market.
Head of KPMG's specialist Golf Advisory Services Team has said that the golf industry is currently benefiting from the continuous development of the travel and tourism industry. Turkey is posing a stiff challenge to the traditional golf markets of Europe and North America as it offers high quality golfing experiences at affordable prices.
Turkey's aviation sector was recently cited as one of the reasons for the country's emergence as a golfing destination during the last few years. The increase of new golfing facilities in Turkey is anticipated to have a positive impact on increasing the country's appeal to overseas investors.
The launch of new flights to and from the country could boost the tourism industry even further. Rhiannon Williamson of ShelterOffshore.com has stated that 25 million vacationers are expected to arrive in Turkey this year. It could tempt foreign property buyers to invest in the turkey’s property market.
Labels: Golf-property, Latest-news
High rental yields in Turkish properties
Thursday, April 17, 2008
Turkish Hotels Federation Official figures have revealed that there is massive rise in rental accommodation in a Turkish tourist destination this year. TurkishPress.com has reported that Occupancy rates in Antalya rose by 20 per cent over the Easter holiday.
Ahmet Barut, president of Turkish Hotels Federation has predicted further growth rest of the year. He said that during the Easter tide, Antalya attracted people from European countries like Spain, Switzerland and central Europe. He also stated that Turkish appeal will get extended to Eastern Europe in 2008.
Turkey is on the threshold of becoming most popular destinations for eastern Europeans due to the low entry costs they provide for investors in terms of getting on to the property ladder.TurkishPress.com cited Turkish Statistical Institute statistics showing that in last 2 months turkey has attracted over 280,000 people from Eastern Europe.
The rental returns in turkey are getting better every year. They are sufficient to cover mortgage repayments. Rental Yields for apartments and single-family homes in Istanbul and Ankara are currently around ten per cent, and it is anticipated that in the next few years will see a very profitable buy-to-let boom in Turkey's major cities.
This comes after the Turkish Daily News quoted Alaaddin Yuksel, governor of Antalya, as saying that he hopes Antalya province itself will attract ten million visitors this year which was eight million in 2007. Figures from the Turkish Board of Statistics revealed that the country is attracting tourists from a number of countries. This means that Turkey boasts higher occupancy rates and healthy rental yields.
Social BookmarkingAhmet Barut, president of Turkish Hotels Federation has predicted further growth rest of the year. He said that during the Easter tide, Antalya attracted people from European countries like Spain, Switzerland and central Europe. He also stated that Turkish appeal will get extended to Eastern Europe in 2008.
Turkey is on the threshold of becoming most popular destinations for eastern Europeans due to the low entry costs they provide for investors in terms of getting on to the property ladder.TurkishPress.com cited Turkish Statistical Institute statistics showing that in last 2 months turkey has attracted over 280,000 people from Eastern Europe.
The rental returns in turkey are getting better every year. They are sufficient to cover mortgage repayments. Rental Yields for apartments and single-family homes in Istanbul and Ankara are currently around ten per cent, and it is anticipated that in the next few years will see a very profitable buy-to-let boom in Turkey's major cities.
This comes after the Turkish Daily News quoted Alaaddin Yuksel, governor of Antalya, as saying that he hopes Antalya province itself will attract ten million visitors this year which was eight million in 2007. Figures from the Turkish Board of Statistics revealed that the country is attracting tourists from a number of countries. This means that Turkey boasts higher occupancy rates and healthy rental yields.
Labels: Antalya, Latest-news, Rentals
Turkey become popular destination for Eastern Europeans
Tuesday, April 15, 2008
Turkey is becoming the most popular destinations for eastern Europeans due to the low entry costs they provide for investors in terms of getting on to the property ladder.
TurkishPress.com cited Turkish Statistical Institute statistics showing that in last 2 months turkey has attracted over 280,000 people from Eastern Europe which is more than 2 percent when comparing the same period last year.
The aesthetic beauty of the costal areas blended with a rich history and a hospitable atmosphere makes Turkey appeal to Europeans and particularly eastern Europeans recently. The official figures states that nearly 140,000 Bulgarian nationals chose to take a holiday in turkey during winter months and they were only fractionally behind German tourists to visit Turkey in 2008
The Turkish government initial target is to boost tourism from 20 million to 25 million in 2008 and also aims to double the annual number of foreign tourists from 23 million to 50 million in the next 15 years.
The government's initiatives to boost tourism are anticipated to increase interest from foreign property buyers. The BuyAssociation states that Turkey's growing holidaymaking appeal is making it very attractive to but -to-let investors.
Social BookmarkingTurkishPress.com cited Turkish Statistical Institute statistics showing that in last 2 months turkey has attracted over 280,000 people from Eastern Europe which is more than 2 percent when comparing the same period last year.
The aesthetic beauty of the costal areas blended with a rich history and a hospitable atmosphere makes Turkey appeal to Europeans and particularly eastern Europeans recently. The official figures states that nearly 140,000 Bulgarian nationals chose to take a holiday in turkey during winter months and they were only fractionally behind German tourists to visit Turkey in 2008
The Turkish government initial target is to boost tourism from 20 million to 25 million in 2008 and also aims to double the annual number of foreign tourists from 23 million to 50 million in the next 15 years.
The government's initiatives to boost tourism are anticipated to increase interest from foreign property buyers. The BuyAssociation states that Turkey's growing holidaymaking appeal is making it very attractive to but -to-let investors.
Labels: Latest-news, Travel
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
73,000 foreign nationals own Turkey properties
Tuesday, April 8, 2008
A report in Today's Zaman stated that Turkey has grown in popularity and has become one of the main destinations for overseas property purchasers looking for an affordable second home in the sun and according to official figures more than 73,000 foreign nationals now own a property in Turkey
Turkey’s popularity is being attributed to an ever improving economy, magnificent climate, and extremely cheap property prices. Majority of overseas investors were found to have invested in Antalya, whereas Mugla and Istanbul are highlighted as other popular locations. Turkish daily news reported that Antalya graph could be set to increase after the new airport in Gazipasa is opened. This has triggered the investment boom and Government also plans to develop Antalya into a year-round holiday destination.
Figures from the Turkish Board of Statistics revealed that the country had attracted visitors from a number of countries. The country is also becoming popular destination for people in Eastern Europe. Today's Zaman commented that the highest demand comes from Germans and Brits. This means that Turkey should also benefit from higher occupancy rates and healthy rental yields.
Social BookmarkingTurkey’s popularity is being attributed to an ever improving economy, magnificent climate, and extremely cheap property prices. Majority of overseas investors were found to have invested in Antalya, whereas Mugla and Istanbul are highlighted as other popular locations. Turkish daily news reported that Antalya graph could be set to increase after the new airport in Gazipasa is opened. This has triggered the investment boom and Government also plans to develop Antalya into a year-round holiday destination.
Figures from the Turkish Board of Statistics revealed that the country had attracted visitors from a number of countries. The country is also becoming popular destination for people in Eastern Europe. Today's Zaman commented that the highest demand comes from Germans and Brits. This means that Turkey should also benefit from higher occupancy rates and healthy rental yields.
Labels: Latest-news
Turkish real estate gets trendy with ice rinks
Saturday, April 5, 2008
Construction of different and entertaining social facilities in housing projects has become inevitable as there is stiff Competition among real estate firms in turkey.
The customary facilities like well maintained swimming pools, tennis courts and social clubs as standard for their customers are available in all developments. Real estate firms have begun to introduce new alternatives like golf courts, landing runways for helicopters, spectacular observatories, botanic gardens and orchards been designed to fit in their properties naturally to outshine their rivals.
Popularity of television ice skating shows has made Ice skating rinks as latest favorite of real estate firms. Five projects with ice rinks are already constructed in Istanbul so far, and the number is anticipated to catapult this year. These projects include Meritlife Kent in Istanbul's Sarıgazi by A-Z Yapı, Flora Residence in Kozyatağı by Abka Yapı and Eltes Gold Residence by Ağaoğlu,Tulip Turkuaz in Bahçeşehir by Tulip Gayrimenkul and Olimpiakent in Halkalı by Soyak.
Ankara Ice Rink and Kocaeli Municipality Olympic Ice Rink are the two main ice rinks of turkey besides 15 smaller ones, and they are expected to increase this year. The popularity of television skating shows had a domino effect as it increased ice rink customers by 30 % and this had positive impact on the developers to build ice rinks in their new projects. The ice skating rinks is popular among youngsters and properties with ice skating rinks attracts families with children.
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The customary facilities like well maintained swimming pools, tennis courts and social clubs as standard for their customers are available in all developments. Real estate firms have begun to introduce new alternatives like golf courts, landing runways for helicopters, spectacular observatories, botanic gardens and orchards been designed to fit in their properties naturally to outshine their rivals.
Popularity of television ice skating shows has made Ice skating rinks as latest favorite of real estate firms. Five projects with ice rinks are already constructed in Istanbul so far, and the number is anticipated to catapult this year. These projects include Meritlife Kent in Istanbul's Sarıgazi by A-Z Yapı, Flora Residence in Kozyatağı by Abka Yapı and Eltes Gold Residence by Ağaoğlu,Tulip Turkuaz in Bahçeşehir by Tulip Gayrimenkul and Olimpiakent in Halkalı by Soyak.
Ankara Ice Rink and Kocaeli Municipality Olympic Ice Rink are the two main ice rinks of turkey besides 15 smaller ones, and they are expected to increase this year. The popularity of television skating shows had a domino effect as it increased ice rink customers by 30 % and this had positive impact on the developers to build ice rinks in their new projects. The ice skating rinks is popular among youngsters and properties with ice skating rinks attracts families with children.
Labels: Latest-news
Turkish second-hand property market gains momentum
Monday, March 31, 2008
Denizbank launched new schemes in tie-up with realty world offices as it foresees Turkey as a good opportunity for investment and the second-hand property market in turkey is gaining momentum.
Denizbank grants housing loans with low interest every month on the 9th, 19th and 29th days while Realty World offices offer the opportunity to own a house at reasonable prices by making a reduction in the on the ninth, 19th and 29th days of every month while Realty World offices reduced their commission ratios in order to offer the opportunity to own a house at reasonable prices for the consumers resulting in increased consumer credits .Arif isfendiyaroglu, AM of Denizbank Retail Banking Group has said that The Turkish property market is growing and buyers are making their Turkish real estate dreams really pay off as potential high returns are in store. So denizbank took an initiative to tie-up with realty world and to have a strong stranglehold of housing finance in turkey and to strengthen their position in housing finance by offering an innovative approach to the real estate sector. Denizbank's 75% shareholder dexia, also has a significant influence in housing finance. This business collaboration of denizbank with influential brand names of international acclaim makes it unique.
Hilmi Iskoren, CEO of Realty World Turkey has said that the real estate sector is currently turkey's most prominent sector in terms of monetary benefits. Realty world believes that their advertising campaign for the Turkish customers to buy property will be a huge success.
Social BookmarkingDenizbank grants housing loans with low interest every month on the 9th, 19th and 29th days while Realty World offices offer the opportunity to own a house at reasonable prices by making a reduction in the on the ninth, 19th and 29th days of every month while Realty World offices reduced their commission ratios in order to offer the opportunity to own a house at reasonable prices for the consumers resulting in increased consumer credits .Arif isfendiyaroglu, AM of Denizbank Retail Banking Group has said that The Turkish property market is growing and buyers are making their Turkish real estate dreams really pay off as potential high returns are in store. So denizbank took an initiative to tie-up with realty world and to have a strong stranglehold of housing finance in turkey and to strengthen their position in housing finance by offering an innovative approach to the real estate sector. Denizbank's 75% shareholder dexia, also has a significant influence in housing finance. This business collaboration of denizbank with influential brand names of international acclaim makes it unique.
Hilmi Iskoren, CEO of Realty World Turkey has said that the real estate sector is currently turkey's most prominent sector in terms of monetary benefits. Realty world believes that their advertising campaign for the Turkish customers to buy property will be a huge success.
Labels: Latest-news, Market-Trends
Brits lured by Turkish property
Saturday, March 15, 2008
The www.999today.com Web site revealed that property in Turkey ranks one of the most popular overseas property destinations in the UK.
Julian Walker from the United Kingdom-based Turkish property firm Spot Blue has said that Briton's investments in turkey increased much faster than total property investment turkey by foreign nationals. Statistics shows nearly 2.06 million people in the British Isles own property overseas i.e one in 30 people. Favorable property prices coupled with over 300 days of sunshine make turkey a prime target for property investment .Turkish real estate economy is benefiting from a government reforms, infrastructure developments, global advertising of the Turkish brand of tourism and consistent foreign direct investment.
David Nigbur, Former BBC engineer and his wife, Rosemary, said their living expenses is drastically reduced since having their three-bedroom villa in Uzumlu, just outside Fethiye, in southwestern Turkey and the building process is facilitated by spot blue. The British couple was happy about their relocation. A quick overview of the market reveals that prices have increased over 30 percent in this area and the days of bargain property in turkey appear to be long gone but still investors hope to achieve more capital appreciation per annum as the laidback lifestyle, affordability, Mediterranean climate and hospitality of people of the island appeals so much to retirees, holidaymakers and overseas investors.
Social BookmarkingJulian Walker from the United Kingdom-based Turkish property firm Spot Blue has said that Briton's investments in turkey increased much faster than total property investment turkey by foreign nationals. Statistics shows nearly 2.06 million people in the British Isles own property overseas i.e one in 30 people. Favorable property prices coupled with over 300 days of sunshine make turkey a prime target for property investment .Turkish real estate economy is benefiting from a government reforms, infrastructure developments, global advertising of the Turkish brand of tourism and consistent foreign direct investment.
David Nigbur, Former BBC engineer and his wife, Rosemary, said their living expenses is drastically reduced since having their three-bedroom villa in Uzumlu, just outside Fethiye, in southwestern Turkey and the building process is facilitated by spot blue. The British couple was happy about their relocation. A quick overview of the market reveals that prices have increased over 30 percent in this area and the days of bargain property in turkey appear to be long gone but still investors hope to achieve more capital appreciation per annum as the laidback lifestyle, affordability, Mediterranean climate and hospitality of people of the island appeals so much to retirees, holidaymakers and overseas investors.
Labels: British, Latest-news
