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Turkey's real estate rush

Foreign investors can't keep their hands off Turkish real estate and are being attracted to the country from all over the world to buy in to the fast developing property market.Yusuf Gulpinar, general manager of construction firm Yatrim Group, reported interest from all over Europe, when speaking to Today's Zaman."European investment firms, mainly from Austria, England, Holland and Belgium, have made huge real estate purchases," revealed Mr Gulpinar. There have also been significant purchases made by US companies, with 20 deals in the last year.NCH New Europe Property, which is...

31-07-2007 - read more...

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Isbank offer 'Overseas Mortgage' package

UK nationals looking to buy property in Turkey are being offered a helping hand by Turkish bank IsBank, which has a branch in London.Variable rate mortgages are being offered for repayment in British pounds sterling (GBP), the innovative product is available exclusively for UK residents buying finished property in Turkey.The special mortgages allow a maximum 75% of the property valuation, Isbank are offering a choice of repayment period from one to 15 years.With the standard variable rate currently at a very competitive 8.00 per cent Annual Equivalent Rate (AER) and the re-mortgage rate at...

31-07-2007 - read more...

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ING moves in on Turkish market

ING Real Estate, a Dutch property manger, has set its sights on Turkey and plans to invest between €500,000 (£336,500) and €1 million (£673,000) in the country's fast-growing property market, as well as in India, according to Voice News.George Jautze, ING Real Estate CEO, expressed confidence that returns in Turkey would beat the four to seven per cent of North America and western Europe: "Turkey looks interesting," he said.ING is one of a number of investors to look to Turkey as one of the most promising and fast developing markets in the world."We want to...

31-07-2007 - read more...

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Turkish property good value

The Turkish property market is reaping the benefits of heavy investment in the past three years and has overtaken Spain as the best value-for-money location to purchase property in Europe, according to Nirvana International.Natalie Nixon, spokeswoman for the UK property developers, highlighted the wane of the Spanish property market as a haven for investors."With the Spanish market becoming increasingly saturated, opportunities for a good investment are declining," said Ms Nixon.Tourists are primarily attracted by the costal towns, but ancient ruins and the development of golf in...

30-07-2007 - read more...

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Overseas investment could double

Investment in Turkish real estate should double this year, according to British property and travel specialists Homes Worldwide.Official figures put the number of British people owning property in Turkey at 17,000 - more than a 500 per cent increase on 2003.The figure could go up three-fold from £2 billion last year, due to holiday-makers seeking homes and investors taking advantage of capital growth in the country's property market.Dominic Whiting, editor of the Buying in Turkey guide agreed with the healthy state of the Turkish property market."The affordability of Turkish...

27-07-2007 - read more...

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Alanya development boom continues

The beautiful costal town of Alanya is set to be a big pull for foreign property investors looking to Turkey after massive redevelopment in the area.A deluge of foreign and local investors in the last decade has led to the rapid expansion of the town and surrounding areas.Abdullah Karaoglu, chairman of the town's tourism commission, told Turkish Daily News that initial problems caused by the fast growth of the area had been overcome."Infrastructure issues, caused by the building boom, have been solved. But, in fact, Alanya never had similar infrastructure problems like some of the...

26-07-2007 - read more...

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Turkey attracts more British buyers

British buyers are taking advantage of new investment opportunities in Turkey and are now the second largest group of foreign property owners in the country after the Germans, according to currency specialists HiFX.The company's Global Property Hotspots Report says that July has seen a significant increase in the number of Brits seeking out desirable property in Turkey.Mark Bodega, spokesman for HiFX, attributed the rise in British interest in Turkey to the economic stability brought by prime minister Recep Tayyip Erodgan's AK Party, who won the recent election."Prime Minister Erdogan...

26-07-2007 - read more...

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How to avoid the pitfalls of buying property abroad

With UK property prices still rising the temptations of a foreign retreat are ever more appealing. But before you call in the removals men, it's worth considering your steps carefully. It's not all sun and sangria in the foreign property market. Firstly, don't be hasty - you have to decide where is best to buy. Spain has long been the favourite of Brits abroad, but since the beginning of this year economists have forecast the fall of the Spanish housing market. According to the Telegraph, House prices have risen by 270 per cent in the past ten years and some 800,000 new properties were built...

25-07-2007 - read more...

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