Property market in the Turkish city of Izmir could be set to receive a major investment boost with the news that Petkim Petrokimya Holding, Turkey’s largest chemicals producer, is aiming to invest USD 5 billion in the region over the next three years.

According to Hurriyet Daily News, Turkey’s leading petrochemical producer Petkim invests A big portion of the USD 5 billion on establishing a refinery in Petkim’s Aliaga complex located in the Aegean province of Izmir. Petkim will use its own equity to meet 35 percent to 40 percent of the refinery’s total cost. The rest will be met through project funding.

Petkim is currently waiting for a license from the Energy Market Regulatory Authority (EMRA) to build the refinery. The refinery is expected to create 10,000 additional jobs. While announcing the company’s 2009 financial results and 2010 targets in a press meet in Istanbul, Hayati Ozturk, Managing Director of Petkim said that The refinery we are planning to establish is the most important investment of SOCAR & Turcas. It is expected to cost USD 4 billion.

In another major boost for property investors in Izmir, Italy's biggest bank Intesa, selected as the financial advisor for the Istanbul-Izmir highway project, has announced that they have reached agreements with Akbank and Citibank for the financing of the project. The advisor banks will manage the USD 4.8 billion portion of the total USD 6 billion highway project to connect Turkey's two major cities with a 421 km highway.

Labels: Market-Trends

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.

Labels: Latest-news, Market-Trends

Searches for Turkey property saw a month-on-month rise and were up 30% in the three month period ending June 22, according to specialists in Turkish property, Spot Blue.

According to Julian Walker, director of the firm reported that 2009 had gotten off to a bright start, and their latest figures suggest that this is continuing. "The monthly statistics showed that the number of overseas buyers in Turkey was climbing. Three monthly figures are generally regarded as being more accurate, and so we have compiled our latest data on that basis. A 30% climb shows that people are once again starting to look seriously at buying property in Turkey," he said.

The number of people searching for houses for sale in Turkey grew by 162% over the same period, and for 'villas for sale in Turkey' grew by an astonishing 588%. Indians are the biggest contributors with 92% more Indian's visiting the site during the three months. Surprisingly Ireland was the second biggest climber with 49% and the UK grew 22% in terms of people looking for Turkey property during the same period.

"I am not saying that sales are hitting the levels they did at the peak of the last boom, but we have been operating for many years, and sales are returning to the kind of levels that exist when we are neither in a boom or decline," Mr. Walker said..

"It will be interesting to see how much this growth will accelerate through the spring as we enter into the summer months," he concluded.

According to property website Primelocation.com, British interest in overseas property shows no sign of diminishing. They have reported that searches for foreign property have passed the million mark - up more than 13 per cent on the same period last year and
Turkey has seen a huge surge in popularity, with search figures are up by 31 per cent.

Labels: Market-Trends, Turkish-property

Despite the disruption of the global economy affecting Turkey's investment climate, overseas investors who invest in Turkey will not lose out, but will instead make considerable profit, according to reports.

According to Deloitte Turkey’s traditional Venture Capital Research, 92 percent of survey participants said they will look at acquisitions within six months, while 88 percent said they have no plans to withdraw from Turkey. Anthony Wilson, Deloitte Turkey Corporate Finance – Partner in charge said that investors still maintain their long-term confidence in establishments located in Turkey. As soon as this environment of uncertainty dissolves, they will obviously restart investments.

The country, running a trillion dollar GDP based on purchasing power parity, is the fifth largest economy of Europe after Germany, UK, France, Italy and Spain, respectively. Recently there has also been an increase in Turkey's permanent business activities. According to the Turkish Treasury's report, foreign direct investments from the Middle Eastern countries have jumped from USD 495 million in 2007 to USD 1.9 billion in the 2009. In addition, Middle Eastern companies have established 471 new companies in Turkey throughout that time period.

Prime Minister Recep Tayyip Erdogan sounded confident as he was unveiling a multibillion lira stimulus package as Turkey's market is rallying on encouraging news from domestic fronts and international markets. In a vote of confidence in the Turkish economy, the Japan Credit Rating Agency (JCR) has affirmed its BB-rating on Turkey's foreign and local currency long-term senior debts. "The outlook of the ratings is stable," the statement said. The report added, however, "A new standby arrangement with the IMF is expected to play an important role in improving the country's international confidence, especially when the economy deteriorates sharply."

Labels: Investment-property, Market-Trends

Antalya in Turkey has been identified as a good destination for investors looking for a stable place to buy property during the global economic downturn.

According to Hurriyet .com reports, Faruk Sayin, a member of the acting board of Antalya Chamber of Commerce and Industry stated that thousands of properties are ready to be bought in the region. He noted that the sustained interest in buying Antalya property has been attributed to the low cost of housing in the region as economic downturn resulted in drop in house prices to a 25 to 30 per cent drop in home prices in Anatolia.

Mr Sayin commented: "The decrease in prices and the rising exchange rate make our country attractive for foreigners to buy real estate." The official asserted that with the correct promotion, foreigners are likely to buy large amounts of real estate in Turkey.
Adam Samuel, a director at overseas property portal Nubricks, explained that the country is much cheaper than most countries in the south-east of Europe, something that may entice people to invest in Antalya property.

Another attraction is the future; he suggested that is the potential accession to the EU, so many people are thinking that when that does happen prices will start [rising] and that's where they will see their gains. Turkish property buyers may be keen to take advantage of low prices and the possibility of gains if the country joins the EU in the next few years.

This presents a rare opportunity to buy property in Antalya at the prices found in an immature market, but in a country set to see the levels of foreign direct investment and visitors you generally find in an immature market. Such factors may have helped contribute to the popularity of Turkey with overseas investors.

Labels: Antalya, Market-Trends, Property-buyers

The Turkish property market has regained its confidence, and a swift recovery is imminent.

Mustafa Boydak, head of the Kayseri Chamber of Commerce said that the Turkish economy bounced back relatively quickly to the difficulties posed by the ongoing global financial crisis to a great extent, pointing out that volatility in the market was slowly dissipating. Boydak said entrepreneurs should not hesitate to launch new investment projects, "It is high time that we concentrate on investments all throughout the country. We need to give the economy new impetus," he remarked.

The overseas mortgage specialist Conti revealed that there is a 65 per cent increase in mortgage applications for Turkish properties during the first five months of this year, compared to the same period at the end of 2008.

According to Conti, April and May saw a marked surge, with applications up 143 per cent year-on-year. Conti's operations director, Clare Nessling said that the demand is being fuelled by "great property prices and all the benefits of its Mediterranean location, minus the effects of the strong euro".

The country's tourist industry continues to show strong growth, with just fewer than 30 million visitors expected in 2009. Better-quality rental properties in popular tourist areas are therefore in demand and rental yields will be highly lucrative, with some developers offering guaranteed rentals.

Meanwhile, in a television program hosted by Ankara Representative Mehment Akarca on atv, Prime Minister Erdogan predicted that by the end of the year the effects of the economic crisis will have passed, and stated; "revitalization will begin by the last quarter of the year."

Labels: Market-Trends, Turkish-property

Turkey property searches saw a month-on-month rise of 38% in March, according to specialists in Turkish property, Spot Blue.

Spot blue latest figures suggest that 2009 had gotten off to a bright start for Turkey. Julian Walker, director of the firm comments "Things are starting to reach normal levels again, slowly but surely that is. Sales are returning to the kind of levels that exist when we are neither in a boom or decline."

"we were never crushed by this international recession, because we never put all our eggs in one basket, as we continued to offer properties in Turkey based on their quality and appeal to our client base, and to market them to anyone who wanted to buy a property in Turkey, for lifestyle reasons, investment, or both" continued Julian.

Meanwhile, propertytalk Live! Web site revealed that British second-home buyers have dropped the United States as a preferred destination and selected Turkey as their favourite. According to statistics from PropertyIndex. com, Turkey's searches increased by 154 percent in January to February 2009 compared with the same two months last year.

In related news, the average house price searched in Turkey jumped from 74,720 euros in January to February 2008 to 90,155 euros in 2009.

Labels: Market-Trends, Turkish-property

Turkey now expects a swift recovery and increase market liquidity, after attracting TL 13.5 bn as part of a wealth amnesty program which was launched to attract an infusion of cash into the country's sagging financial system.

Since the introduction of the program till the 2nd of March, Turkey managed to draw in total fund of around TL 5 billion from Turkish expatriates who live abroad to bring in money held outside the Turkish banking system without being probed concerning the source of the funds.

Officials from the Revenue Administration (GİB) had announced recently that the money attracted by the program had reached TL 5 bn just prior to the final date and they revealed that another TL 8 bn was added before the end of the last day. Thus, the total amount of money drawn in to the country as part of the amnesty program is around TL 13.5 bn. Officials from GİB told Today's Zaman that the program is a great success, attracting than TL 10 bn to the Turkish market in such a volatile atmosphere. This clearly indicates investors have confidence in the Turkish economy's future.

Analysts suggest that the wealth amnesty program will play a decisive role in boosting the country's economy and will provide extra liquidity to the market as well as help ease the burden of the economic crisis. Parliament recently adopted a bill that offers incentives and tax cuts in the hope of attracting more funds from Turkish citizens living in Turkey and abroad to the country's financial system. The bill allows Turks to put their cash holdings in the Turkish banking system with a 2 percent tax on those who live abroad and a 5 percent tax for those who reside in Turkey.

Thanks to the program's success, banks in Turkey will have a chance to extend loans to the non-financial sector. Turkish Central Bank vice Governor Mehmet Yorukoglu recently stated, the Turkish banking system is in extremely good condition now, thanks largely to the "successful regulations adopted after the economic crisis." Overseas Investors are advised to look at property for sale in Turkey because of the country's strong economy. Economists stressed that the Turkish economy is "thriving" because people have the confidence to spend money.

Banking Regulation and Supervision Agency (BDDK) President Tevfik Bilgin had recently said that Turks should not hesitate to take advantage of incentives and contribute to the country's economy. "Turkish expatriates have USD 60 bn in Switzerland alone," he said.

Labels: Market-Trends

The Turkish resort of Altinkum has been named as one of the best places to invest in property and perfect for holidays, a travel writer has claimed.

According to Deborah Cooper of the American Chronicle, Altinkum has plenty to offer in terms of good prices for high class properties. There is solid supply and demand in the area and ready financing for would-be property buyers makes the area as attractive proposition. There is also a lot of investment going into the area and could increase its attractiveness to tourists which is already popular for its beaches and all-round sunshine appeal.

Ms Coopera added that the resort is easily accessible by air and ferry, while apartments can be found for as little as £18,000 and a three-bedroom duplex for £26,000.

According to the Mirror, the temperature of up to 75F in winter months makes the region a year-round holiday destination and provides affordable family breaks. Altinkum has already attracted over 8,000 British property buyers due to its low prices and fabulous climate.

Golf-lovers will be pleased to hear the proposal of a £22.8 million golf resort in Altinkum, Turkey is planned by the government. Dominic Whiting, editor of the Buying in Turkey guide, said the plans as "a major boost for tourism", adding that it will have a positive impact on the property market in the region.

Labels: Altinkum, Market-Trends

The Turkish housing market is currently stronger than it has been for 25 years as new figures revealed that over $10 billion (£5.45 billion) has been invested in the country's housing market from overseas.

Market commentators tipped that Turkey has the potential to be one of the most profitable markets for investment during 2008, despite the predicted global credit crunch. Moneycorp has revealed that Turkey is continuing to attract massive levels of interest from investors in places such as the UK. The foreign investment in Turkey has continue to soar which shows that it has achieved the international trust and is set to see an huge influx of overseas investment in the future.

International Herald Tribune has reported that the recent changes to laws of purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector. Government has lifted the ban for overseas investors from acquiring real estate in the country. Liam Bailey, global markets expert at Property Wire has said that the inheritance tax in the country is also relatively low, ranging from one per cent to ten per cent.

Turkey is an emerging market which offers very competitive house prices and it is fairly easy to pick up a home in the country for less than £50,000. However, house prices in Turkey are going up at a rate of about seven per cent per annum which means investors who buy early could benefit from capital appreciation.

Labels: Investment-property, Market-Trends, Turkish-property

Turkey is found positively aligning more and more with Africa and also strengthening its international ties by developing relations with Europe, according to reports.

The positive factor driving the appeal of investment property in Turkey is the development of Turkish international relations. The Turkish officials are certainly continuing to align policies and plans with those acceptable to the EU and also last year Turkey cemented political and economic friendship ties with Asia and Africa.

The government has committed to a series of infrastructure improvement and expansion plans to open up the market to more overseas investors and there is infinite potential for growth and profit in the travel and tourism industry in Turkey. Foreign direct investment in Turkey is rapidly increasing and in 2006 alone almost USD 16 billion was invested in Turkey in the form of FDI.

According to the Independent, the country's emergence on the worldwide stage in recent years and already it has good export levels in place with Europe. This combined with its unique geographical position between Europe and the Middle East countries and its cultural and religious understanding with many Asian and Arabic nations makes it is strategically well placed for acting as a bridge between eastern and western understanding.

Independent analysts Amberlamb has stated that Turkey is set to become one of the most important nations in the world in the future as it manages to bring together in harmony different cultures, beliefs, religions and ethnicity which the overseas investors should not ignore.

Labels: Market-Trends, Turkish-property

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

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

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

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

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

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

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

Labels: Market-Trends, Overseas-property

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

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

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

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

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

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

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

Labels: Market-Trends, Overseas-property

The Independent, a British newspaper has reported that Investors who are looking to buy a property at an affordable price have been pointed towards Turkey. Experts consider Turkey as an emerging market and house prices are rising at a considerable rate, therefore creating strong capital growth potential.

The property market in UK is beginning to hold up; the outlook for the British market is getting gloomier by the day as property prices are dropping due to global sense of credit crunch. Property purchasers are increasingly looking overseas to collect returns from their investment.

Despite the fact that the House prices increased by 20 per cent in Turkey last year its property values are relatively cheap when compared with the UK. The increase in property prices due to huge demand for Turkish property and subsequent growth looks likely to continue over the next decade. Many analysts state that this could be the best time to buy properties in turkey due to a lack of risk associated with Turkish market, continuing affordability and the realistic potential for substantial capital appreciation.

Benedek, of Solaris Villas has said that Turkey can be compared to a Spanish property market few years ago and Turkey is a safer bet for overseas property investors. He also said that there is in any case another ten years of good returns can be obtained from the Turkish market.

Turkey offers the holidaymakers requirements of great scenery, climate, over 300 days of sunshine per annum, fine sand beaches, and fabulous countryside including its good-quality infrastructure and amenities. These factors combined with its relatively low cost of living and easy accessibility are said to make it ideal for overseas property purchasers.

Labels: Investment-property, Market-Trends

The ongoing global credit crunch could prove to be advantageous to owners of rental accommodation in Turkey. Official figures from post offices states that there has been 15 per cent increase in sales for Turkish currency among Brits. This is due to the reason that the pound has hit a record low against the euro and has fallen drastically in value over the last couple of months. Experts have said that People are likely to visit countries which are not part of the single European currency.

The fall in the value of the pound against the euro will mainly have an impact on holidaymakers. Travel weekly has reported that UK vacationers are preparing to make their annual trips abroad despite the fears about the people's finances being constrained by the slowdown in the worldwide economy. Countries along the Mediterranean coast like turkey are found to be most popular locations with more bookings. Turkey statistical institute has reported that 23.5 million tourists visited Turkey last year and is expected to increase to 27 million in 2008.The tourist trade was up a massive 43.9% in the last 3 months in 2007 when compared with the same period in 2006.

Murat Dedeman, the head of The Turkish Tourism Investors Association (TYD) also predicts the increase in the number of foreign tourists visiting Turkey in 2008, resulting in profits of up to $21 billion. Dedeman's optimism is supported by the Turkish Travel Agencies' Association (TURSAB), which expects a 15 percent rise in tourist numbers this year to 27 million.

The dynamic infrastructural and economic transformation process that the Turkey has been experiencing in the last decade has a powerful impact on Turkish tourism and strengthened Turkey's place in the world.

This comes after the predictions from Cushman & Wakefield, global property agents and they say that real estate in emerging markets like turkey will evade the current slowdown relatively unharmed and Goldman Sachs investment bank has said turkey is having promising outlooks for investment and future growth.

Labels: Market-Trends, Rentals

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.

Labels: Latest-news, Market-Trends

Survey from holidaylettings.co.uk has revealed that demand for rental property in Turkey falls within the elite list of top 7 on the property investment list that the company advertises in for demand for rental property. Turkish economy is positively moving forward and leads the way in emerging markets and well ahead of popular tourist destinations like Balearics, Canary Islands and South Africa.

Gordon Lyons of International Property Agents has said that more overseas investors to arrive much more conveniently in turkey due to the low cost flights and this of course makes buying property in Turkey more accessible but due to the low availability of the flights, the market is still under developing stage. 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.

Gordon Lyons further said that Tourism growth in the nation is on the roll and Figures shows that 20 million tourists a year visiting the country. The Turkish property rental market is growing and investors are making their Turkish real estate dreams really pay off as investment with a view to holiday rentals is backed up by booming turkey's tourist market.

Labels: Economy, Market-Trends, Rentals

Turkey's EU bid with the European Union made life easier for foreign investors in Turkish property market. In terms of income already turkey has been classified as the 20th biggest economy in the world by the World Bank. The country's economic growth and EU bid has created new downstream investment opportunities and in property market.

Rhiannon Williamson, director of www.ShelterOffshore.com , said the government and the majority of people's opinion are favoring the country joining European Union. Government authorities stick with political and economic reforms to meet EU entry requirements.

Several sectors like transport, telecommunications have been liberalized independent regulation authorities have been created, and these reforms have helped the in-depth economic modernization process. Banking and financial reforms is under way,
Ms Williamson added that work is going on to make property laws similar to those in EU member states to give more confident and secured environment for foreign investors in turkey.
German chancellor Angela Merkel has also made her intentions clear about denying Turkey full membership in EU. France has also opposed turkey's bid to join EU. Spain and the UK are supportive of turkey's bid. Despite tensions between certain EU countries and Turkey, still attracts number of European investors.

Labels: Economy, Market-Trends

Dubai-based website 7Days reports that Turkey provides attractive investment options to foreigners looking to catch a promising market from the start as Turkey is on the threshold of becoming a mainstream international holiday destination.

Turkey represents strong investment potential with its pristine beaches and climate makes it a very popular and well tested tourist destination.


Inexpensive, long summers and hassle-free lifestyle make it a hot favorite holiday destination for Europeans.

The development in Bodrum's tourism has a deep impact in the property market. Investors are reporting good yields and inherent capital growth.

The Bodrum Peninsula region is a crucial one for Turkey in terms of property investment. It's established amenities and location near to an international airport means consistent high amount of tourists and one of the brightest property investment hot-spots. Property prices are very competitive and may increase rapidly with the introduction of more flights.

Experts feel that this is the ideal time to invest into the Turkish property market. 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: Bodrum, Market-Trends

Istanbul is the most promising city in terms of real estate growth, according to the report conducted by 400 European real estate specialists. The results of the report regarding the Turkish real estate sector include that Istanbul ranks among the top cities and is the most promising city in terms of growth. Another result is that investments from Europe are flowing toward eastern and central Europe, and Turkey is among the countries watched by investors. Istanbul stood at No. 11 in the report's risk/yield ranking, climbing up eight places in 2007.

Urban transformation projects are expected to be the most active area of Istanbul's real estate sector this year, said the report.

Labels: Istanbul, Market-Trends