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Turkey Property Market doing well

Turkey's property market is in a healthy state, according to one financial expert.Deutsche Bank's professor Norbert Walter has pointed to the growing mortgage market as a plus point.Addressing a conference at Sabanci University Policy Center in Istanbul last Friday (February 22nd), Professor Walter said: "Turkey’s emerging mortgage market, in particular, is doing well," reports Today's Zaman.Mortgages are now available in Turkey for overseas buyers following changes to legislation.Deals are available over two, three and five years with a maximum of a 20-year package and...

27-02-2008 - read more...

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Turkey Property Turkish holiday homes in demand

Turkey has been named in the top ten of countries where holiday homes are most in demand.The study, by Holiday Lettings, placed Turkey seventh in a list of 112 other nations, reports the Turkish Daily News.South Africa, the Canary Islands and Spain's Balear Islands were all surpassed in the chart by the Mediterranean country.Gordon Lyons, the manager of International Property Agents, told the newspaper: "It is expected that the cheap Turkey flights will start soon, which will initiate the demand for rental estates to compete with the package holiday tours. "The tourism sector in...

26-02-2008 - read more...

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Turkey Property Eastern European property a bargain

Property developers have opportunities in Eastern Europe to create luxury homes in undiscovered territories, it has been suggested. Countries such as Turkey, Bulgaria and Croatia are benefiting from huge government-funded benefits and awards for real estate firms looking to transform historic buildings into high-quality hotels, suggested Paul Kerr chief executive of UK-based Small Luxury Hotels of the World, reports Forbes. This trend follows strong growth in foreign tourism which has brought economic benefits to Eastern European countries, the article noted. Turkey received some $819 million...

22-02-2008 - read more...

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Turkey Property Turkey one of popular emerging first time buyer markets says expert

Turkey is one of a handful of countries marked out as a good investment opportunity for first-time buyers by an expert.Paul Collins, property editor of the Buy Association, picked the southern European country as a suitable option for those entering the overseas housing market as the entry price is low.Mr Collins went on to advise those looking for a quick financial return on their foray into the foreign property market to have a rigid gameplan.He said: "The thing that people should be careful of, though, if they are buying their first property in order to build up some equity, is to...

14-02-2008 - read more...

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Turkey named as property hotspot for coming year

Turkey is set to be a property hotspot for 2008, continuing its run of form over recent years, one overseas property portal has suggested.Of the 170,000 inquiries Homesgofast received last month, a significant number were Turkey-based, the firm said.Turkey was named in a selection of five promising locations for the coming year, including Dubai, Brazil, Egypt and the US.Homesgofast's, chief executive officer, Nicholas Marr said: "Cheaper overseas property investments are in vogue, with the majority of our top five property regions offering prime real estate at bargain prices. "The...

07-02-2008 - read more...

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$7bn pumped into Turkish property from abroad

Overseas investors have pumped in US$7.2 billion (£3.7 billion) into Turkish property since the easing of ownership laws in 2003.Such is the demand that revenue from property sales to foreigners increased by 59 per cent in 2006 on 2005's figures, going from $1.8 billion (£1 billion) to $2.9 billion (£1.5 billion), economist Mustafa Sonmez claims.According to Today's Zaman, 51 per cent of the total 66,000 property sales to non-Turks have taken place in the past four years.Since the 2003 law allowed foreigners to own property in Turkey, firms offering non-Turks the chance to...

23-02-2007 - read more...

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Mortgage reform in line for elections

Reform of Turkey's mortgage market is set to be unveiled in time for this autumn's parliamentary elections, reports suggest.The Turkish Daily News states that politicians will vote on the proposals to change the loan system from a fixed interest rate to also offer a variable one later this week.If so, the report believes that property prices will soar, meaning that no more than any time is ideal for investment in property. This is because the bill was previously postponed, meaning that there are many people who are waiting to buy once the law is enacted."The real estate sector has been...

20-02-2007 - read more...

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Foreigners swell to buy Turkish property

The amount of foreigners being tempted to invest in property in Turkey has swollen, the vice-president of one of the nation's Chamber of Commerce and Industry has said.Huseyin Erkek stated that there were now 62,500 foreigners who owned Turkish property, investing in a total area of 285 square kilometres (70,400 acres).Most popular area was Antalya, with Istanbul, Mugla, Antalya, Izmir, Bursa, Adana, Aydin, Manisa and Balikesir, also experiencing a lot of interest.Today's Zaman reports Mr Erkek as saying that many people bought property in Turkey "because of the sun, sea and natural...

13-02-2007 - read more...

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