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Record emigration sees thousands head to Mediterranean

Record numbers of Brits are becoming long-term migrants, leaving the UK for destinations such as the Mediterranean to live, according to new records published by the Office for National Statistics.New figures show that 385,000 people emigrated from Britain in 2006 - the highest on record - and many of those that head overseas are retirees buying up property in Mediterranean hotspots such as Turkey.The managing director of International Property Agents told Easier Property that the trend shows "no signs of decreasing".He said that with the "bad climate, increasing violent crime...

28-08-2007 - read more...

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Couple build 'Turkish Palace'

A Turkish couple from New York have created a resplendent home from a dilapidated property on the banks of the Bosporus, reports the New York Times.Murat and Nina Koprulu decided to move from their Manhattan residence to transform the old Istanbul building into a multi-million pound reconstruction on the banks of the beautiful river.The four-year project, resulted in a three-story property covering 7,000 square feet, after rebuilding the 1860's house from scratch.Mr Koprulu revealed the materials used in the building of the house came from far and wide.Wood came from the Bolu Forest, 110...

23-08-2007 - read more...

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Istanbul redevelopment continues

The government is set to continue plans for Istanbul's extensive redevelopment with new legislation designed to assist the urban transformation, reports Today's Zaman.An urban transformation bill has been proposed and supporters say it would boost the economy and create jobs as well as add to the appearance of Turkey's largest city.Erol Kaya, mayor of the Pendik district, highlighted the fact that the bill will ensure reinforcement of buildings against earthquakes and the mayors of Bagcilar and Kucukcekmece also pledged their support.Ali Dumankaya, of construction corporation Dumankaya, told...

23-08-2007 - read more...

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Wet weather factor in Turkey's property boom

This year's dismal British summer has led more people to make enquires to find their own place away from the downpours, according to one currency specialist.Turkey is one of the countries named by HiFX as having more interest from UK property investors this year compared to last, as the weather has driven Brits sad at the "depressing summer" to look abroad.The Monthly Global Property Hotspots Report by HiFX shows that there has been almost double the interest this summer compared to last year with property enquiries into countries like Turkey up in June by 46 per cent and July by...

22-08-2007 - read more...

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Abramovich to invest in Turkey

Russian Roman Abramovich, the billionaire businessman and owner of Chelsea Football Club, has plans to invest in the Turkish real estate market.Reports suggest that the tycoon, who has been holidaying in Bodrum, Mamaris and Istanbul on his yacht Le Grand Blue, is looking to add to his portfolio in the country.Mr Abramovich is said to have his eye on a 21-acre piece of land at Toprak in the resort of Kusadasi, according to the Turkish Daily News.There is also speculation he is interested in purchasing a mansion on the Bosporus.The news comes as Mr Abramovich proceeds with his 'Chelsey...

21-08-2007 - read more...

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Brits and Germans top overseas property owners

The Brits are second only to the Germans as the leading foreign property owners in Turkey, with more than 12,000 properties being owned by investors from the UK, government statistics reveal.Germans own more than a quarter of all property bought by foreign investors within Turkey and has close ties with the country, but Brits are not lagging behind.There are over 63,500 properties owned by overseas buyer in Turkey, many of them situated along the beautiful Turkish Riviera, in the business centre of Istanbul, or down the Aegean Coast.Mark Bodega, of currency specialist HiFX, said that property...

20-08-2007 - read more...

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Property in turkey 'a major attraction'

Turkey has been heralded as "a major attraction" for foreign investors and praised for having the added advantage of "a strong and growing economy".A number of factors mean the time is right to invest in Turkish property, according to personal finance website Finance Daily.The fast-growing nature of the Turkish market, with new developments springing up on an almost daily basis, coupled with the country's chance of EU membership in the not too distant future, makes Turkey a favourable option over other "more established" foreign property markets, says the...

17-08-2007 - read more...

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"Prime investment"opportunity in Istanbul

The Astrum Towers development in Istanbul city centre is being tipped as a "prime investment location" by the International Property Investment Network (IPIN).At present the complex consists of one, two and three bedroom apartments including "swimming pools and other amenities," according to the overseas property service.Property in Istanbul city's emerging Buyukcekmece district is said to have "excellent investment potential," and is reportedly available from £29,092.Among the other reasons listed by the IPIN for backing the investment are the "high...

17-08-2007 - read more...

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