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Appetite for Turkey continues to grow
Articles by Aimee Valaitis /
Last Updated on
January 20th,2012
Property-owners in Turkey who rely on
holidaymakers for rentals will welcome the news that ten per
cent more tourists visited the country last year than in 2010,
and the country has aims to attract even more foreign visitors
during 2012.
Figures released at
the end of December showed that the number of foreign visitors
to Turkey hit 30 million in 2011, bringing in revenue worth
$25 billion. This year the country aims to attract at least 32
million tourists, who would be worth an expected $27 billion
to the economy.
Such a positive 2011 means Turkey is now the seventh most
popular tourist destination in the world, while in terms of
revenue generated by tourism it is ranked ninth. A large part
of the reason for the country’s growing popularity is its
exclusion from the Eurozone and excellent value for money in
terms of day-to-day costs, as well as property.
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Brits top foreign
ownership in Turkey
Articles by Aimee Valaitis /
Last Updated on November 28th,2011
November figures from the Land Registry Office in Turkey show
that more people from the UK than any other foreign nation own
property in Turkey. Of the 123,000 foreigners that have
property in the country, 35,656 are from the UK, while in
second place are 28,306 from Germany and in third Greece with
10,859.
The figures
also show that the most popular areas with foreign buyers are
currently Antalya, Lugla and Aydin, whereas Istanbul and Bursa
are popular with investors. Turkey’s popularity with Brits
will have been enhanced recently by the country’s exclusion
from the Eurozone and the pound’s strength against the Turkish
lira, although many properties are bought in Sterling.
Turkey
remains good value for money, with quality beachfront
apartments readily available for less than £50,000 in popular
resorts, such as Alanya in Antalya on the south-west coast.
While many
Brits buy property in Turkey in pounds, anyone moving there
who will continue to receive regular payments from the UK,
should use a currency specialist to save money when transfer
these payments into Turkish lira. For more information, speak
to currency exchange specialist Smart
Currency Exchange.
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Turkish property
transactions to be completed in UK
Articles by Chris Please
/ Last Updated on November 14th,2011
It could soon be possible to
buy property
in Turkey without
stepping foot in the country thanks to an initiative that will
make it possible to complete a property transaction at the
Turkish embassy in London.
A
pilot scheme by the Turkish Government will set up branches of
the Turkish Land Registry Directorate (TKM) in selected
embassies around the world, including the UK, where the
transfer of a Turkish property’s title will be possible so
long both the vendor and buyer are present in person.
The new regulation will initially be applied to
the Turkish embassies in Germany, Greece, the UK, Austria,
Ireland, Holland and Russia. These countries were chosen due
to the high number of both Turks living there and citizens
there who own property Turkey.
According to data from the TKM, 101,686
foreigners own 69,970,493 square metres of real estate in
Turkey. Within Turkey, Alanya has the most number of
registered foreign property-owners (19,444), followed by Didim
(8,466), Fetiye (5,637), Kuþadasi (3,730) and Yildirim
(2,785).
Anyone who needs to transfer money to complete
a property transaction in Turkey should use a currency
specialist to exchange their pounds into Turkish lira or euros.
For more information, contact Smart Currency Exchange.
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Turkish
property prices on the rise
Article
by
Chris Please /
Last Updated on 5th April 2011
As a property
investment it may be well to remember that house prices may
have dropped dramatically in the UK, Spain, Italy and Portugal
over the past few years but not so in Turkey. Added to this,
Turkey has applied to the EU and, when other countries have
joined, house prices have soared so this may well happen once
Turkey gains acceptance.
Back in the day, the much-revered Kemal Ataturk transformed
the former Ottoman Empire into a modern, westernised and
secular country, and the country has remained true to his
vision. Today there is rising international interest in the
property market in Turkey. Choice has largely been dictated by
the location of international airports, most of which have
been built near delightful coastal towns with magnificent
beaches to accommodate the increase in tourism. Broadly
speaking the market ranges from Kusadasi (pronounced Kushadasi)
on the Aegean side to Alanya with its magnificent medieval
castle on the Mediterranean.
Between the two you will find smaller towns
such as Gocek, an upmarket marina town and popular stop-off
point for yachts, with Kalkan and Bodrum both very popular
with property buyers at the top end of the market. Other
coastal towns that are attracting a lot of interest are
Fethiye, Kas and Side – lovely old towns surrounded by
oleanders with views of the nearby turquoise coloured sea.
-Talking
Turkey: From Istanbul to golf getaways in Antalya, the
prospects are sunny.
Article
by
Mark Hughes-morgan
/
Last updated on July 27th, 2010
Turkey looks
set to be one of the property success stories of 2010 - or
so say international estate agents, who have seen encouraging
signs in its economic performance, infrastructure improvements
and the number of visitors spending money in the country.
In fact, tourism was up 20 percent last year, according to
figures from ABTA, the Association of British Travel Agents.
With an
expanding economy, encouraging predictions from the likes of
leading City firm KPMG, buoyant tourism and a strengthening
currency, the country is a good bet for anyone looking to buy
for either investment or lifestyle reasons, according to
Julian Walker, of Turkey specialists.
Tourist hub:
The south-coast city of Antalya has good-value holiday
properties that offer rental returns and long-term growth
'Turkey is
aligning itself to join the EU and the market is expected to
grow,' he adds.
For English
buyers looking at investment, the major cities of Istanbul,
Izmir and Antalya are of the greatest interest, according to
Mr Walker.
For good-value
holiday properties that offer rental returns and long-term
growth, the southern area of Antalya on the Mediterranean
coast (which includes the city that shares its name) has the
most to offer.
Now an
international resort, Antalya is both a beach holiday hub and
near the golfing heartland of Belek. The airport is
increasingly busy - easyJet has opened a route there this
year from Gatwick.
Because the
southern coast also has great international appeal, buyers are
not so reliant on the British market - as has proved so
disastrous on the Costas - for rental or re-sale.
Buyers must beware, however, of occasional legal and ownership
issues and undesirable building practices that have blighted
the emerging Turkish property sector.
Carry out
proper checks on the bona fide nature of sellers and agents,'
advises Mr Walker. 'Consult UK-based lawyers who have
professional indemnity and ensure that any off-plan schemes
have all the right permissions and guarantees.
'Don't part
with money until you have correct documentation.'
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