Real Estate & Construction News in Turkey from Propertyshowrooms.com

Turkey sees increase in migrant population

Thu, 2 Jun 2011 00:00:00 GMT

Turkey's burgeoning property sector shows no signs of slowing down over the course of this year, with market fundamentals remaining strong.

Istanbul, in particular, has been touted as one of the major regions for investment in the country. Official figures have revealed that the city's population continues to soar with the rate of migration more than doubling during 2009-10.

Over 102,000 migrants made the location their home over the course of the year, and now account for 7.7 per cent of Istanbul's total population.

Alexander Tomlinson, director of Gem Invest, noted that as more people moved to the area, districts of the city have been enjoying rapid regeneration in areas such as transportation, accommodation and retail.

"Both private developers and local authorities have recognised the impact of the near doubling of Istanbul's positive net migration rates," he explained.

"Various mega-projects have been put forward as possible solutions to needs of the ever growing population but all parties appear to agree that it is to the suburbs of Istanbul that the future lies."

Turkey ‘one to watch’ for savvy investors

Thu, 19 May 2011 00:00:00 GMT

Turkey has long been touted as the next ‘big destination’ for savvy property investors, with a stable economy, strong banking system and robust tourism market making it an ideal location for buyers.

And while the main focus has been on the economic powerhouse of Istanbul, there are other cities that are worth considering.

According to the latest Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute, the middle class suburb of Bahcesehir is proving popular.

Just 20 minutes away from Ataturk International Airport and 20km from the centre of Istanbul, the Garden City is also home to a burgeoning student population.

"One of the key features of the area from an investor's point of view is the growing university," Alexander Tomlinson, director of agency GEM Invest, said.

"A large majority of these students will require quality accommodation driving rental demand in the vicinity."

Meanwhile, Suleyman Albay, Oceanwide Properties managing director, told Overseas Property Professional that property prices in Turkey have risen by at least nine per cent so far this year.

Construction boom boosting Turkish property market

Tue, 2 Nov 2010 00:00:00 GMT

Rapid economic growth in Turkey is helping to contribute to a construction boom in the country.

According to figures from the Turkish Statistic Institute, the construction sector has expanded by 21.9 per cent in the second quarter of 2010, Intasure has reported.

The country's economy as a whole jumped by10.3 per cent over the period, which makes it the third fastest growing in the world.

On the back of this, the Turkish property sector is also experiencing an upturn in fortune.

David Walker, vice-chairman of the Board for the Turkish British Chamber of Commerce and Industry, said: "We are seeing greater numbers of Europeans seeking to invest in Turkey's growing economy and property is one of the most popular means of doing so, offering twofold benefits for purchasers as an investment into a growth market and a tangible asset that buyers can enjoy personally too."

Indeed, statistics released by the Turkish General Directorate of Land Registry earlier this year revealed that 32,000 Brits are registered property owners in the country.

Demand high for Turkish property

Sat, 2 Oct 2010 00:00:00 GMT

Demand from property investors and buyers in Turkey means that developers are struggling to cope.

Julian Walker, director of agent Spot Blue, highlighted the European City of Culture, Istanbul, as one region which was doing particularly well.

Its popularity with tourists and various attractions means that many buy-to-let investors have looked to capitalise on property opportunities in the destination.

The property expert explained that a number of factors, combined with strong economic growth in the country, meant that developers are struggling to meet demand from buyers.

"Istanbul offers an excellent investment opportunity, attracting an increasing domestic market looking for property rentals as well as international visitors," he added.

"Sales of properties are strong considering the global economic climate and more developments will be coming to the market to suit the cosmopolitan communities."

Individuals looking to purchase property in Turkey may be interested to hear that a recent Global Property Guide report recommended it as a favourable country for investment.

Turkish property market 'offers opportunities'

Tue, 18 Mar 2008 00:00:00 GMT

The Turkish property market offers investors high tenant demand and investment return, according to a new report.

Highlighting the opportunities available to buy-to-let investors, the Aberlamb website states that "potentially more affluent" tenant bases can be tapped into by going for yet-to-be-completed developments that have "more unusual selling points".

These include properties with ice rinks and developments with the "very best" interior design, which are apparently easier to resell when investors have to release some capital.

Istanbul is pinpointed as a Turkish city that offers those dealing in property a high chance of a good return. And with the city that sees east meet west becoming the European Capital of Culture in two years time, it could be the right time to make an investment.

As this year's cultural capital Liverpool has shown, the title brings with it an upturn in investment and tourism.

Turkey investors to benefit from economic growth

Mon, 10 Dec 2007 00:00:00 GMT

Owners of Turkish property may be likely to benefit from continuing economic growth in the country.

The Organisation for Economic Co-operation and Development (OECD) stated that between now and 2009, its economy would expand by six per cent.

A report by the body, which was cited by the Guardian, said that achieving this figure was a possibility assuming that Turkey was able to avoid any unforeseen events that could negatively impact on its growth.

OECD said: "If the pending reforms targeted by the government are implemented assertively, this could accelerate Turkey's shift to a stronger growth rate."

The organisation's economic outlook is more optimistic than that of the Turkish government, which has forecast growth of 5.5 per cent over the next two years.

However, both estimates will be positive reading for owners of property in the country, including both investment buyers and those with holiday homes.

According to BuyAssociation, Turkey has become more popular with foreign investors in recent years because airlines have made it much easier to reach.

Turkish planning restrictions 'good for investors'

Mon, 15 Oct 2007 00:00:00 GMT

Overseas buyers in Turkey are likely to benefit if new planning restrictions are introduced, according to one company.

Nirvana International said that plans to impose restrictions on new property developments would be good for investors as they would be less likely to buy in an overdeveloped area.

Different parts of the country would be able to retain their "special appeal", thereby making them viable holiday destinations for a longer period of time.

Robert Dixon, director of UK operations at Nirvana International, added that greater government control would help protect "vast areas" of Turkey that would otherwise be threatened by excessive development.

He commented: "We see it as an absolute bonus enabling buyers to purchase homes knowing they will not be blighted by high-rise apartments and an untenable density."

Mr Dixon described the Turkish property market as "buoyant", adding that people could acquire a residence for a much lower price than in other countries such as Spain.

Earlier this year, Nirvana International said the country offered the potential for a rental yield for 12 months of the year, due to its consistently good weather and popularity with tourists.

Turkey "one of the best" places to invest

Wed, 15 Aug 2007 00:00:00 GMT

Developments around Turkey's cities provide good opportunities for investment, according to an expert.

Marketing director of Atlas International Colin Mansell said that a combination of other factors made the country a good prospect for investment returns.

The fact that developments were now taking place outside of cities like Turgutreis and Gumusluk meant that these tourist attractions would retain their charm.

Mr Mansell said: "The smaller resorts still have some of the traditional charm, but the developments offer very low prices which are growing quite quickly so for investors it is all about financial return.

"It is probably one of the best areas to invest at the moment."

He explained that purchasing a Turkish property was a similar experience to buying elsewhere.

Investors Provident estimates that there are presently 12,000 British-owned properties in Turkey.

Turkey 'retains its charm'

Tue, 7 Aug 2007 00:00:00 GMT

Ongoing property development in Turkey is failing to detract from the country's natural charm, according to experts at property group Anatolian Sky.

Figures from Investors Provident state that there are currently somewhere in the region of 12,000 British-owned properties in Turkey, indicative of the popularity of the Turkish property market among UK investors.

Andrea Kelleher of Anatolian Sky highlights the fact that while offering a level of charm, Turkish regions also offer strong investment potential in the long-term.

"Investors want a return ultimately, off-plan projects offer a good return on an investment and this return can be in a relatively short period of time," she explains.

Ms Kelleher continues to assert that potential entry to the European Union also serves to boost the wider appeal of Turkey.

Meanwhile Nirvana International reports that investment in Turkey is becoming increasingly popular as an alternative to popular Spanish regions, offering better value overall and healthy levels of appreciation in the future.

You can trust Turkish property developers, investors told

Wed, 23 May 2007 00:00:00 GMT

Turkey has a strong property market with "highly professional" developers, the Federation of Overseas Property Developers, Agents and Consultants (Fopdac) has said.

Spokesperson Arlette Adler believes that Turkish developers are very scrupulous in their dealings.

However, she warned that Turkish estate agents are less conscientious and meticulous, and she advised that UK investors use a British agency.

"In our experience, if you're dealing with a Turkish developer, he will point out the restricted zones ? where you would be in danger of the law if you did build there," said Ms Adler.

"The only people we do sometimes have problems with are agents ? agents are a totally different breed to developers," she added.

A spokesperson from the Turkish Industrial Development Banks recently said that economic development and stability are "pulling real estate investors into Turkey".

Strengthening economy 'buoying up Turkish investment'

Fri, 11 May 2007 00:00:00 GMT

Foreign investment in Turkey's real estate sector is on the up, buoyed by the country's stable economy, an expert has said.

Despite a slump in the market at the beginning of the decade, interest from overseas investors has been rekindled, according to a spokesperson from the Turkish Industrial Development Banks (TSKB).

Cansel Turgut Yazici, from the real estate evaluation department, said that "good years lie ahead" and investors who have already bought into the market "are on the right track".

"Economic development and stability are pulling real estate investors into Turkey," she told Turkish Weekly.

Ms Yazici said she believed that foreign interest would spread out from Istanbul into other regions.

A recent survey by GfK Turkiye revealed 59 per cent of investors consider the Turkish government to be capable of maintaining economic stability, while 77 per cent think that inflation is under control.

Finance now available for Prime Turkish Apartments!

Wed, 17 Jan 2007 00:00:00 GMT

Lake View Golf Apartments

The resort at Lake View Golf Apartments offers the rare opportunity to purchase Turkish property with a finance option from the developers – a concept, until now, virtually unheard of in Turkey. Investors now no longer need to invest all of their available capital into their chosen Turkish investment, allowing further investments elsewhere...

At Last a Chance to Invest in Turkey With Developers’ Finance

We are delighted to be able to offer our investors a unique opportunity to obtain finance to buy Turkish property without commiting valuable personal capital to their purchase – a condition pre-requisite to many wise investors. In addition to this great new feature, Lake View Golf Apartments has much to offer:

If you are looking for excellent value for money amongst unadulterated natural beauty and a carefully planned, low density resort with warm, sunny weather all within easy reach of “back home”, then Lake View Apartments, near Bodrum could be your answer. In Turkey’s hugely popular resort area of Bodrum, development over the last couple of decades has been strictly controlled; new buildings are low-rise, blocks are painted white in Mediterranean style and strict controls regarding density levels are adhered to.

The Lake View Golf Apartment Resort

This is a fine example of an effective and thoroughly cost effective low density project near Bodrum. High quality, luxury, great attention to detail, along with the developer’s firm belief in protecting public interest through effective regulations and customer satisfaction are all features of the development. This beautiful resort sits on a prime elevated location with panoramic, south facing views across Lake Tuzla while embracing with ease the Mediterranean countryside that surrounds it.

Lake View Golf Apartments offer the array of facilities you would expect from a wise investment in a holiday resort, including a Clubhouse, shops, poolside café, bars, infinity swimming pool and a childrens’ park. The units consist of 96 two bedroom apartments, arranged into blocks of six, 64 of which will be duplex and the remaining 32 will be penthouses. Lake View’s apartments offer unique detail with luxurious finishes, a distinct absence of solar panels to spoil the views, intricate design with a signature personal touch to each home. Furthermore, the resort is easily accessed at only 35km from Bodrum’s modern airport, with several flights arriving daily from Istanbul. Thomas Cook also operate direct flights to Bodrum from the following airports: London Gatwick, Stansted, Manchester, Newcastle, East Midlands, Birmingham and Glasgow.

Bodrum

At a mere 25km away, Bodrum is the nearest town to the resort. It is a unique, well established tourist town, managing to combine the diverse elements of ancient and modern with ease. Dubbed the Turkish Riviera, Bodrum has been transformed into a luxury cosmopolitan destination with a steady influx of Northern European visitors, due in part to one of the best climates in Europe. The town centre brims with traditional streets and historical sites alongside a new modern marina, vibrant nightlife and trendy beach clubs – in short, all that today’s tourist could ask for. The area offers the best year-round facilities in Turkey, including the new Vita Park USGA golf course due for completion in May 2007. The “Club”, which is to include one 18 hole and two 9 hole PGA standard courses, promises a driving range, clubhouse, extensive social and commercial facilities all to the most luxurious of specifications.

Finance

Unit prices at Lake View Golf Apartments are currently as low as GBP 49,959, building guarantees are in place and, as importantly, the developers are offering an excellent finance package, one of the very first in Turkey and the first which comes as IPIN recommended! This, in addition to property growth rates at a potential 20-25%, makes Lake View Golf Resort an excellent opportunity for many investor.

The developers are offering a simple payment structure as follows, which purchasers are finding of great incentive:

10% deposit, subject to mortgage approval
20% upon mortgage approval
70% mortgage is then released by the bank across the construction period to cover all stage payments

(The above information is based on a Eurobor mortgage at approx 3.5% interest)

It is important to remember that Turkey as a whole boasts one of the world's fastest growing economies and it is therefore becoming increasingly popular amongst people seeking a sound property investment abroad. Today this country is most definitely looking to the future and currently undergoing huge changes to prepare for full membership of the European Union, expected around the year 2015. Meanwhile, Turkey continues to attract attention from buyers as it tops the overseas property investment market due to great value for money, climate, lifestyle, substantial growth potential and easy access from the UK, Ireland and mainland Europe.

The new facility for finance on this particular project is great news for investors, making units here part of a highly competitive Turkish product, within a market which would otherwise be limited only to those with ready capital to invest. If you would like more information on finance options for property purchse in Turkey or on Lake View Golf Apartments themselves, please click here to get in touch with our IPIN advisors.

Click here for more information

Turkey Follows Spain's Example

Wed, 4 Oct 2006 00:00:00 GMT

Following a visit to Spain in late July, Turkey's Finance Minister, Kemal Unakıtan, together with Culture and Tourism Minister, Atilla Koç, have decided to take the example of the Spanish model for implementing better procedures aimed at enticing a growth in property sales to foreigners.

During their visit they conducted careful studies on just how Spain attracts foreign second home buyers to its real estate business. The Spanish have sold one million dwellings to the foreigners to date and have received 178 billion euros from the sale of second homes to the foreigners, most of which were off-plan purchases.

Finance Minister Unakıtan has stated he wants Turkish bureaucrats to work on the implementation of the Spanish model in Turkey, whereby the contracting firms carry out the infrastructural investments such as the construction of roads and bridges and environmental arrangements in the regions where the development takes place, while the administration of the developments is provided by the same or another firm.

Meanwhile, Unakıtan has recently defended a lawsuit at the Constitutional Court against the Law for the Amendment to the Land Registry Law No. 5444 which limits the property sales to the foreigners. This law has been previously brought to the Constitutional Court for its injunction and eventual annulment.

It is clear there are big plans ahead for Turkish real estate and many investors consider it wise to invest in Turkey sooner rather than later, while property prices remain very low, and before the Spanish role model kicks in.