Real Estate & Economic News in Turkey from Propertyshowrooms.com

House prices climb in Turkey

Wed, 21 Mar 2012 00:00:00 GMT

The cost of buying residential real estate in Turkey increased during February, climbing by 0.78 per cent overall compared to January.

In its monthly property price index, REIDIN.com revealed Antalya experienced the biggest rises, with the value of existing homes up by 1.11 per cent. Adana and Izmir also recorded hikes of more than one per cent in February, while Istanbul saw house prices jump by 0.98 per cent.

Meanwhile, the REIDIN.com-GYODER new home price index found the value of such real estate was up by 0.6 per cent month-on-month in February. Since the same month in 2011, the cost of purchasing a new-build property has increased by 10.42 per cent.

Data published recently by Knight Frank also indicated Turkey's housing market is performing well. According to the firm, the value of homes in the country climbed by 7.7 per cent between the final quarter of 2011 and the same period a year earlier.

A quarterly rise of 2.4 per cent was recorded in between October and December, compared with the previous three-month period.

Turkish property prices rise

Mon, 19 Dec 2011 00:00:00 GMT

The cost of buying a property in Turkey climbed during November, compared to the previous month, new data shows.

According to the latest REIDIN.com Turkey Residential Property Price Index, the value of existing homes increased by 0.71 per cent last month, while annually, a 7.33 per cent rise has been recorded.

Izmir, Adana and Istanbul are the top performing destinations based on the monthly data, while Adana, Ankara and Istanbul saw the greatest price growth compared to November 2010.

Rental income has also climbed across the country, which may be good news for investors hoping to let their real estate assets.

The top-performing locations for rent rises over the past year were Antalya, with an 8.64 per cent increase, Izmir and Istanbul, where monthly charges have jumped by 7.25 per cent and 6.83 per cent respectively.

It appears that Turkey may continue to be a good place for property investors, with the Holiday Lettings' Insights Report recently highlighting the country's popularity as a holiday destination.

The study revealed a substantial number of bookings have already been taken for people planning a getaway to the nation next summer.

Real estate prices rise in Turkey

Mon, 19 Sep 2011 00:00:00 GMT

The latest figures from the REIDIN.com real estate index for Turkey has revealed that, overall, property prices in the country increased during August, compared to the previous month.

On average, home values in Turkey rose by 0.55 per cent, with Ankara, Izmir and Kocaeli exhibiting the greatest increases of 0.95 per cent, 0.93 per cent and 0.85 per cent respectively.

Bursa was the only region to record a monthly fall in property prices, although this was marginal at 0.02 per cent.

Year-on-year, Istanbul has the strongest performing real estate sector, with housing values in the city up by 7.42 per cent compared to August 2010.

Ankara and Adana have both also posted increases greater than six per cent on an annual basis.

At the other end of the scale, the only region to experience a decline in home values since August 2010 is Antalya, with prices dropping by 5.38 per cent.

Earlier this month, a report released by the Foreigner Affairs Unit at the Land Registry Directorate revealed that Antalya is the province of choice among overseas buyers.

According to the organisation, 31,000 properties are now owned by foreigners in the area, with approximately 111,200 real estate assets purchased by those from outside Turkey across the entire country.

Antalya popular among foreign buyers in Turkey

Fri, 2 Sep 2011 00:00:00 GMT

Antalya has been named as the most popular province for overseas investors seeking property in Turkey by new research.

Figures published by the country's Foreigner Affairs Unit at the Land Registry Directorate showed that approximately 111,200 estates have been bought by people outside the nation, with more than 31,000 properties now under foreign ownership in Antalya.

Buyers from the UK, Germany and Greece are the most prolific on the Turkish real estate market, while there are also many Dutch investors with homes in Antalya, the Hurriyet Daily News reported.

However, there are still five out of Turkey's 81 provinces where no foreigners own property.

Last month, the REIDIN.com Turkey residential property price index revealed that house values in the nation increased by 0.83 per cent during July compared to June.

Antalya saw its real estate prices grow by 0.64 per cent in the same period, although the region registered a 4.56 per cent fall year-on-year.

Meanwhile, Istanbul posted the biggest rises, both on a monthly and annual basis, seeing values jump by 1.05 per cent in July and 6.83 per cent over the year.

Residential property prices rise in Turkey

Thu, 18 Aug 2011 00:00:00 GMT

The value of homes in Turkey increased during July, both on a monthly and annual basis, new figures have shown.

According to the Reidin.com Turkey Residential Property Price Index, the country experienced a value hike of 5.38 per cent on an annual basis last month, with a jump of 0.83 per cent compared with June this year.

Every city listed in the results saw year-on-year prices rise - with the exception of Antalya, which registered a 4.56 per cent decline.

The biggest winner was Istanbul, seeing prices jump by 6.83 per cent in July, compared to the same month in 2010.

Rents in Turkey have also increased during this period, although largely at a slower rate than the boost to house prices.

Earlier this month, managing director of A Place in the Sun Andy Bridge commented that Turkey has emerged as a hotspot for property investors due to the affordability of homes in the country, as well as the fact that it is not part of the eurozone.

As a result, sterling goes further than in nations that have adopted the euro, Mr Bridge explained.

'Many reasons' to buy property in Turkey

Wed, 10 Aug 2011 00:00:00 GMT

Turkey has become an increasingly popular option for those seeking a property abroad, one expert has noted.

Andy Bridge, managing director of A Place in the Sun, explained that there are many reasons to consider buying Turkish real estate.

"It's outside the eurozone - so sterling goes further, property is relatively affordable and it's a wonderful country for food, climate and culture," he stated.

This may particularly appeal to those who are looking for a base outside the UK where they can visit on holiday and which they can rent out for the remainder of the year.

And the most recent Knight Frank Global House Price Index indicated that there is continued growth in Turkey's property sector.

The country was 19th in a table of 50 nations in the first quarter of the year, with real estate prices experiencing an annual increase of 3.5 per cent.

Mr Bridges added that anyone with the capital to invest in a property at the moment could benefit from the state of certain markets around the world, where banks are keen to offload repossessed homes to cash buyers.

Turkey enjoys increase in foreign capital inflows

Mon, 20 Jun 2011 00:00:00 GMT

Foreign capital inflows to Turkey amounted to $684 million during April, highlighting the country's appeal as an investment destination.

According to Treasury data, net foreign capital inflows between January and April stood at $4.7 billion, corresponding to an annual rise of 12.6 per cent, Hurriyet Daily News reports.

The figure is likely to have been buoyed by a number of individuals purchasing property in Turkey, with real estate transactions accounting for around $300 million of the April figure.

Some 88 per cent of the capital entering the economy came from European Union countries, the Treasury noted.

Indeed, $5.32 billion has come in so far this year, with a significant majority of that coming from France, according to the news provider.

Turkey's growing 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, with official figures revealing that the city's population continues to soar.

Overseas buyers more active in Turkish property market

Fri, 6 May 2011 00:00:00 GMT

Sales to overseas buyers in Turkey jumped by 40 per cent last year, taking the total amount spent by foreigners in the country's real estate market to $2.5 billion (£1.5 million).

The Association of Real Estate Investment Companies (GYODER) revealed the figures earlier this week, with the increased interest highlighting the nation's popularity among buyers.

A growing number of lifestyle buyers, as well as serious investors, are thought to be behind the rise in sales, with Turkey's favourable climate, relatively inexpensive cost of living and a relaxed lifestyle helping to make it an attractive option for many.

This can be coupled with the country's sudden popularity with holidaymakers and strong banking and financial system which have ensured that Turkey is attracting a surge of holiday home buyers and expats.

"Real estate sales to foreigners rose again in 2010 as a result of increasing confidence in Turkey," said GYODER president, Is?k Gokkaya.

Turkey's Growing Standing Boosts Property Investment

Mon, 14 Mar 2011 00:00:00 GMT

Last week saw the Turkish parliament approve June 12th as the day that the general election will be held. Few people doubt that the AK Party will be re-elected for its third term, but this is hardly surprising given what they have achieved for Turkey, and what they have helped Turkey achieve and become.

Sure, they have helped Turkey reach economic stability; taking it to the point where it is not only the fastest growing economy in Europe, or one of the fastest in the world, but also one of the most stable and with a banking system that is the EU's envy. But that is not the only or even the main achievement; right now Turkey's influence in the world is growing. Turkey is becoming a real regional power, and shaping up to be a global power in the next 50 years.

Combined with the current economic stability and growth, Turkey's growing international presence is boosting investors' confidence in the country, including property investors. Confidence is one of the main drivers of property sales, and Turkey's growing international prowess is almost certainly having an impact on property sales in the country -- especially to foreigners.

Look at the last couple of weeks alone. At the tail end of last week the press reported that Turkey and the EU have provisionally agreed on the return of immigrants. Under the deal, illegal immigrants entering the EU from Turkey -- both those residents of Turkey and those coming through the country -- would have been deported back.

The issue was seen as the final hurdle to a visa-free deal between Turkey and the EU, and Turkey said clearly that it would accept the readmission agreement, only if the EU gave the European Commission full authority to begin visa liberalization negotiations with Turkey. When the EU watered this down to starting a "visa dialogue", Turkey firmly stated that this was not good enough.

"Today's reports are talking about a visa dialogue without a clear target for visa exemption. Our stance is clear. Turkey in no way accepts different treatment," said Foreign Minister Ahmet Davutoğlu.

"We are expecting the EU Council to fully authorize the commission to begin talks on visa liberalization. It seems now that this has not happened. The process on [implementation of] the readmission agreement will begin whenever this happens. Nobody should expect Turkey to take one-sided steps on this matter," he said.

"What we anticipate is that the EU Council will give a mandate to the EU Commission to start the negotiations with Turkey in a way that will fully meet our expectations. As long as these expectations are not met, the readmission agreement will not be signed, initialled or implemented," said a statement from the Turkish Foreign Ministry.

This response may seem measured, not least because it is 100% justified, but that does not mean it isn't brave, because it is. The EU so blatantly tried to get around Turkey's stipulation because they are so used to Ankara rolling over to get a belly-tickle, but no more, and the EU must come to grips on how to deal with the newly empowered Turkey.

Hot on the heels of that we have Cemil Çiçek deputy Prime Minister and state minister for Cyprus affairs stating that Turkey would not sacrifice Turkish Cypriots rights and interests for an institution like the EU.

"If you place Turkish Cyprus on one side of a scale and EU membership on the other, Turkey would prefer Turkish Cyprus a thousand times,” Çiçek stressed, adding that the EU cannot be a political force without Turkey and that Turkey would not sacrifice Turkish Cypriot’s rights and interests for the EU, whose future is shrouded in doubt. Çiçek acknowledged that there is a standstill in Turkey’s EU membership talks because of Cyprus, but that Turkey is ready to pay the price.

And finally we have requests from Tunisia, for Turkey to help them hold the first democratic election in the nation's history.

“We are open to Turkey’s support for our election operation. We need at least 15,000 election officers. We don’t have sufficient trainers or the time to train these people,” Yadh Ben Achour, a prominent legal expert on constitutional law told Today’s Zaman.

Turkey's growing place in the world comes as no shock. The country is now one of the world's fastest growing and most dynamic economies, with a rapidly growing population and a huge young work force.

It is also the only stable Muslim democracy in the Middle East and in the last 18 months has signed agreements to increase trade and/or ties many countries including: China, India, America, Britain, Russia, Brazil, Albania, Syria, Lebanon and Jordan. These included a "strategic alliance" with Brazil, a deal to increase trade with the US by a factor of 3, and free-trade with Syria, Lebanon and Jordan, as well as visa-free travel deals with Russia, Syria, Lebanon, Jordan, Albania, Libya, Kosovo and Sudan.

During this time sales of Turkey property have been growing steadily, and Turkey is now one of the hottest sellers according to many real estate agents. Istanbul Property is particularly popular, not least because it was recently voted the world's fastest growing cities in terms of economic growth and employment by the Brookings Institute.

Article written by Aydin Cakir - Director of New Home in Turkey. Antalya property agency offering properties across Turkey.

Turkey named top place for property investment in 2011

Mon, 3 Jan 2011 00:00:00 GMT

According to property expert Liam Bailey, writing in an article for write-about-property.com, Turkey is the best place to invest in property heading into the New Year.

One of the reasons for this is how well the country weathered the global financial crisis, keeping its budget deficit low and economy stable thanks to reforms to its banking system and an immature mortgage market.

Furthermore, low inflation and years of paying down debts has given Turkey's Central Bank the leeway to lower interest rates without fear of destabilising the economy.

"The balance of stability, high growth, high liquidity, low property prices and low interest rates is sure to make Turkey a favourite with investors in 2011," comments Mr Bailey.

It follows the recent publication of Holiday Lettings' predicted holiday hotspots of 2011, which listed Turkey as number one.

Turkey set for real estate growth

Wed, 1 Dec 2010 00:00:00 GMT

A growing tourism sector and expanding economy is helping the property market in Turkey go from strength-to-strength.

Overseas property agent Oceanwide Properties has claimed that now could be the ideal "time to strike" for British buyers, with prices still relatively low and the returns positive, A Place in the Sun reports.

Turkey's economy is expected to become the 12th largest in the world, according to the Organisation of Economic Cooperation and Development - with an anticipated economy growth of 8.2 per cent in 2010.

Suleyman Akbay, managing director of Oceanwide Properties, told the news provider: "The more tourists come, the greater the number of those who want to own a home here.

"Turkey has phenomenal summer weather, many Turks speak English and with prices an absolute bargain compared with many other resort locations around Europe, there has been a positive upsurge of buyers."

Meanwhile, the long-term prospects for Istanbul's residential property market continue to look positive, with residential demand outpacing supply, the organisation added.

Low-to-mid sector demand driving Turkish property market

Fri, 15 Oct 2010 00:00:00 GMT

The property market in Turkey is being driven by demand for low-to-mid sector real estate, Overseas Property Professional has reported.

Turkey is becoming an increasingly popular destination for overseas property investors thanks to its strong economy, banking system and growing tourism market.

Current low prices, new mortgage laws and the complete absence of capital gains tax once a property has been held for over five years mean that buying and selling in the country is an easy process, those wanting to buy real estate in Mugla or looking at Antalya real estate listings may be interested to hear.

According to the news provider, the Turkish General Directorate of Land Registry has recently released figures which show that 32,000 UK buyers have already invested in real estate in the country and the government is striving to keep this investment.

To this end, billions are being spent on improving infrastructure such as roads and airports as well as on the building of new golf courses.

Economic optimism boosting Turkish property market

Sat, 18 Sep 2010 00:00:00 GMT

Economic optimism in Turkey is having a positive effect on the nation's property market, according to data from the Turkish Statistics Institute, which is good news for people hoping to buy real estate in Mugla.

The figures show that the Turkish economy saw gross domestic product growth of 10.3 per cent in the second quarter of the year, making it the third fastest economy in the world for this period. The nation's construction industry is also booming posting 21.9 per cent growth in the second quarter of the year.

Commenting on the economic situation, David Walker, who is vice chairman (UK) of the Board for the Turkish British Chamber of Commerce and Industry, said: "Optimism has remained high in Turkey and this, coupled with hard work and the steady decline in unemployment, has meant that this faith has translated internationally. 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."

Last week, Turkey was named travellers' favourite country at the Conde Nast 12th Annual Readers' Travel Awards.

Post-crash Turkey 'offers a good investment opportunity'

Sat, 4 Sep 2010 00:00:00 GMT

Property in post-crash Turkey can offer a good investment opportunity, one expert has claimed.

Writing for the Global Property Guide blog, realtor Aydin Cakir said that Turkey never really became as popular as it could have been with property buyers, who looked to EU nations in the boom years, however, this is all set to change.

According to Mr Cakir, one real draw for people hoping to buy real estate in Mugla or invest in Antalya real estate listings, is the liquidity in the Turkish banking system which helps boost mortgage availability and affordability.

The fact that Turkey is in great fiscal condition, with gross domestic product rising 11.7 per cent year-on-year over the first quarter and the nation having a budget surplus of $5.1 billion in May this year, is also good news for property investors.

"With many countries in Europe having been downgraded, many facing a downgrade, and some even having been downgraded and facing being downgraded again, Turkey is standing out," he added.

Last week, Select Resorts stated that the Turkish property market has seen significant growth in the past two years and provides a real opportunity for investors.

Turkey benefiting from its strong economy

Wed, 28 Apr 2010 00:00:00 GMT

Turkey has received a positive economic growth forecast from the International Monetary Fund for this year.

The country has seen its predicted rise changed to 5.2 per cent from the 3.7 per cent originally predicted last October.

According to property agent Spot Blue, the strength of Turkey's economy has led to its growing appeal with property investors.

"Turkey emerging from recession faster and stronger than many EU countries, including the UK, is making Turkish property look like an even better buy to international investors," company director Julian Walker told Write-about-Property.com.

"This, of course on top of its benefits to lifestyle buyers of warm climates, gorgeous coastlines and fantastic value for money, is making Turkish property hot right now."

The news could lead to an increase in people looking at Antalya real estate listings, after the popular golf region was named as one of the most favoured destinations for holidaymakers by Gather.com.

With the website claiming that a visit to Antalya would present individuals with the opportunity to visit the real Turkey.

Turkey to benefit from tourism and strong economy

Mon, 22 Mar 2010 00:00:00 GMT

Turkey continues to be an attractive investment prospect, with new figures suggesting that real estate recovery is taking place.

The latest statistics show that house sales were up by 25 per cent over the course of 2009, in comparison to the previous year.

Dominic Whiting, editor of the Buying in Turkey Guide, expressed his delight at the news, claiming that the property market is likely to be further bolstered by a record-breaking tourism season in 2010.

In addition, a number of airlines have announced that they plan to increase the number of flights currently on offer to the area, with Pegasus Airlines, Easyjet and Monarch all offering additional services.

Mr Whiting continued: "Location and quality remain of key importance. Buyers should be looking for property in the best areas, which represents a solid investment as the market bounces back.

"It will remain a buyers' market for the time being, with some excellent deals to be found."

Furthermore, the latest figures from Standard and Poor's credit analysis painted a positive outlook for the country, stating that its economy and banking system had held up well through the financial crisis.

Economic downturn highlights Turkey's strong economy

Fri, 19 Feb 2010 00:00:00 GMT

The economic downturn has had a positive impact on the Turkish property market, it has been claimed.

According to a report on Write About Property, Turkish property agent Spot Blue has highlighted the encouraging affect the financial crisis has had upon revealing the country's economic potential.

Julian Walker, of Spot Blue, explains to the website that before the downturn, Turkey attracted mainly lifestyle buyers who had holidayed in the region, while investors seemed keen to wait until the country was granted EU entry before parting with their money.

He continued: "The credit crunch has not only widened this audience by making the Turkish lira a much more attractive currency than the euro and accelerating growth in tourism from Britain, but has also led to economic news taking centre stage, which has highlighted the economic potential of Turkey."

This has led to an increase in both the number of overseas property investors and lifestyle buyers, he claimed.

According to research company RNCOS, Turkey's tourism industry will experience significant growth in the coming years.

Exchange rates 'can alter property price'

Tue, 1 Dec 2009 00:00:00 GMT

Britons buying property overseas can be hit by sudden fluctuations in the exchange rate, it has been observed.

Editor of A Place in the Sun Magazine Richard Way stated that this is the case because of the need to change sterling into a foreign currency, noting that "in the time between agreeing a price and transferring funds abroad, the exchange rate can change".

This can effectively raise a price if the alteration in value is unfavourable, he added.

Mr Way pinpointed Turkey as one of the countries likely to be popular with Britons in the coming months.

Unlike other favoured destinations such as France or Italy, the country does not use the euro and buyers may find prices here are more favourable because of the comparatively cheap exchange rate.

Property portal Homesgofast.com placed Turkey in its list of the top five countries for property investment in 2010, with France being the only eurozone country in this group.

Fast sinking hoped to raise tourism in Turkey

Mon, 1 Sep 2008 00:00:00 GMT

The Turkish resort of Bodrum on the Aegean coast is hoping to attract 150,000 more tourists through the scuba diving attraction it has provided by deliberately sinking two warships and a plane last year.

Bodrum Black Island Artificial Ledge and Sunken Rocks project was begun last year in a bid to create a major diving attraction to bring in the crowds, Hurriyet reports.

The paper quoted the words of the chairman of the Bodrum Underwater Association Ihsan Kucukunal, to the Turkish Daily News last week stating that the island has created plenty of interest.

Mr Kucukunal told the paper he hoped more could be added, stating: "Our aim is to increase the diving points other than the Black Island and thus bring more tourists to our country."

Last week Todays Zaman stated that the Turkish tourism economy has boomed since the 1990s.

EU membership will help long-term Turkish growth, says expert

Fri, 29 Aug 2008 00:00:00 GMT

A property expert has said the Turkish market is growing quickly even without the country being a European Union (EU) member.

Turkey is a candidate for EU status but according to Liam Bailey, Property Wire's global markets expert, the country is already seeing a boom.

Mr Bailey said one of the greatest advantages the market has is that prices remain "relatively low" despite increasing by between 30 and 40 per cent in the past two years.

An example of this is that a two-bedroom apartment in the resort of Dalaman can be bought for as little as £40,000, he stated.

He also said the country has excellent rental yields of eight per cent a year and the future prospects are good because the government is taking advantage of the country's size to ensure there is not too much development in any one location.

However, Mr Bailey concluded, EU membership will be needed to maintain the current boom in the long term.

Turkey is currently one of three candidate states for EU membership, the others being Macedonia and Croatia.

Turkey 'provides crunch-free alternative'

Thu, 14 Aug 2008 00:00:00 GMT

Investors looking for a good place to buy property that is not affected by the credit crunch should look to Turkey, it has been stated...

Credit crunch 'not impacting on travel sector'

Mon, 11 Aug 2008 00:00:00 GMT

Ongoing economic problems in the UK do not appear to be putting British people off travelling abroad, experts have said.

According to online travel retailer On the Beach, consumers are continuing to purchase foreign holidays.

This is despite the fact that many are experiencing financial constraints as a result of the credit crunch and rising living costs in the UK.

Destinations in mainland Europe was found to be particularly popular with holidaymakers, with Turkey being the overall favourite.

Simon Cooper, chief executive of On the Beach, commented: "Many of our customers are not willing to give up their hard-earned holidays."

However, he said people are still looking for destinations which offer the best value for money.

Since Turkey is not in the eurozone, British tourists could potentially benefit from more favourable exchange rates.

The pound recently slumped to an all-time low against the euro, which has led to holidays in places such as Italy becoming more expensive.

Turkish economy benefits from tourism-010808

Fri, 1 Aug 2008 00:00:00 GMT

Turkey's holiday industry is proving to be highly lucrative for the country's economy, official figures have revealed.

According to the Turkish Statistical Institute, revenues from the sector reached £2.3 billion in the second quarter of 2008.

This is more than 25% higher than the amount recorded during the same period of the previous year.

Most of this was said to have come from foreign visitors, who spent an average of nearly £300 each.

The overall level of spending by holidaymakers was found to have gone up by just over 11% in the last year.

Meanwhile, figures showed that visitor numbers in June rose by 19.2% on a year-by-year basis.

This comes after the Association of British Travel Agents revealed that the number of summer bookings for trips to Turkey has gone up by 20 per cent this year.

The organisation has attributed this to a number of factors, such as the relatively high value of the single European currency against the pound.

Visit our off-plan property Turkey page

Turkey attracts more interest from Britons

Fri, 1 Aug 2008 00:00:00 GMT

Holidaymakers in the UK are increasingly showing interest in visiting Turkey, it has been revealed.

According to Cheapflights.co.uk, economic factors such as the strong euro are putting people off taking breaks to traditional hotspots such as Spain.

As a result, more people are searching for cheaper alternatives which do not use the single European currency and offer more favourable exchange rates.

Turkey was found to be attracting considerable attention from money-conscious holidaymakers, in particular the Dalaman area.

The website stated that in the last year, the number of people viewing information on this region online has gone up by 17.5 per cent.

Commenting on this development, Chris Cuddy of Cheapflights.co.uk said: "A definite trend appears to be emerging for alternative vacation destinations."

This backs up the findings of the Association of British Travel Agents, which recently found that the number of bookings for Turkey has risen by 20 per cent on a year-by-year basis.

Turkey flights boost UK airport -300708

Wed, 30 Jul 2008 00:00:00 GMT

The popularity of destinations such as Turkey has helped boost passenger numbers at a UK-based airport.

Statistics have revealed that that East Midlands Airport (EMA) has seen an increase in the number of people it has handled for the ninth consecutive quarter.

More than 563,000 passengers passed through its doors last month - 5% more than during the same period of 2007.

This increase was said to have been fuelled by the rising popularity of places such as Turkey, which has attracted extra attention due to its favourable exchange rates.

EMA commented: "More and more holidaymakers are choosing to jet abroad to more value-for-money destinations outside the eurozone."

The airport added that the take-up of flights to countries outside the EU has risen by 17% in the last year.

This comes after the Association of British Travel Agents revealed that the number of summer bookings for trips to Turkey has gone up by 20% this year.

Visit our off-plan property Turkey page

Strong euro fuels interest in Turkey

Wed, 30 Jul 2008 00:00:00 GMT

A British airport has revealed that current economic conditions are driving a surge in demand for flights to Turkey.

According to East Midlands Airport (EMA), services to places such as Dalaman have proved to be very popular with consumers in recent months.

This has been mainly attributed to the fact that Turkey offers more favourable exchange rates than many other European countries.

Indeed, figures indicated that in the last year, there has been a 17 per cent increase in the number of people flying to destinations outside the EU.

Since the pound has recently slumped to all-time low against the euro, this could because people want to get more for their money in other places.

EMA commented: "More and more holidaymakers are choosing to jet abroad to more value-for-money destinations outside the eurozone, such as Dalaman in Turkey."

According to the Association of British Travel Agents, the European country has become one of the main hotspots for holidaymakers from the UK this summer.

In fact, figures show that the number of bookings has risen by 20 per cent on a year-by-year basis.

Vacation in Turkey cheaper than in Saaremaa

Thu, 17 Jul 2008 00:00:00 GMT

The principal “it is cheaper to spend vacation at home” is not valid anymore. Family vacations abroad may turn out to be cheaper...

Britons visiting noneurozone countries-160708

Wed, 16 Jul 2008 00:00:00 GMT

Holidaymakers from the UK are increasingly choosing to venture beyond the eurozone, it has been revealed.

According to Lastminute.com, British consumers are keen to destinations that offer the best possible value for money, reports Holiday Extras.

This is because the pound recently slumped to an all-time low against the single European currency, a development which has driven up the price of travelling to places such as France and Spain.

John Bevan, managing director of the online travel agency, highlighted Turkey as one popular destination, as the number of bookings is 14 per cent up on this time last year.

He commented: "This summer our customers are going where their pound will take them further and where good bargains are to be had."

Mr Bevan added that consumers have exhibited "strong interest" in non-eurozone countries this year.

This comes after the Post Office reported a surge in demand for Turkish currency among British consumers.

The organisation described the country as one of the "best-value" destinations in Europe.

Britons book holidays to Turkey-090708

Wed, 9 Jul 2008 00:00:00 GMT

The number of British people booking holidays in Turkey is on the up, according to new figures.

Research by Co-operative Travel found that the European country has displaced hotspots such as Spain in terms of its popularity with tourists.

The organisation believes this is partly because the pound recently slumped to a record low against the euro, thereby making trips to places such as Spain more expensive for British holidaymakers.

Trevor Davis, spokesperson for Co-operative Travel, told the Herald: "This year they are finding the high euro and a shortage of availability means the normal late deals are not available."

He said Turkey has benefit the most from this trend, as the number of bookings for the country has gone up by nearly a third in recent months.

This comes after the Post Office reported a surge in demand for Turkish currency among British consumers.

The organisation described the country as one of the "best-value" destinations in Europe.

Turkey 'to attract 27 million visitors this year'

Mon, 7 Jul 2008 00:00:00 GMT

Tourism officials in Turkey have revealed that they are expecting this year's number of visitors to rise to 27 million.

Ahmet Barut, chairman of the Turkish Hotels Federation, stated that the country is already attracting more holidaymakers than it did in 2007.

Indeed, visitor numbers during the first half of the year were 15 per cent higher than those recorded 12 months earlier, the Turkish Daily News reports.

As a result, Mr Ahmet is optimistic about the overall figure for 2008 exceeding the amount recorded a year ago.

This is likely to be a positive development for overseas property investors, particularly those who own rental accommodation in Turkey.

According to the Times, one in ten holidaymakers in Turkey are choosing to book lodgings in holiday homes.

The newspaper said this shows that demand for good quality buy-to-let accommodation is strong in various parts of the country.

Turkish economy still 'attractive to foreign investors'

Fri, 20 Jun 2008 00:00:00 GMT

The Turkish economy is healthy enough to continue attracting overseas investment, an international banker has claimed.

A fall in the value of the Turkish stock market coupled with political uncertainty has led some commentators to suggest there could be problems ahead for the country's economy.

However, Amjad Ahmad, chief executive of NBK Capital Investment & Merchant Banking, insisted that the concerns were only minor and would not deter serious long-term investors.

Mr Ahmad told the Turkish Daily News the country's economy is continuing to improve and that it is still attracting money from the Middle East.

He added: "We never come to a market for short-term gains. Turkey's dynamics are very strong and that is why we will continue to do business here."

News that the economy is likely to carry on attracting money from overseas may well please the growing number of Britons who have invested in Turkish property.

A recent survey of mortgage lenders conducted by NatWest concluded that Turkey will be the third most popular location with Britons buying overseas during the next three years, reports the Telegraph.

Property prospects in Turkey 'improved by EU talks'

Fri, 23 May 2008 00:00:00 GMT

Potential membership of the European Union (EU) could improve many aspects of Turkish living, which may interest those considering purchasing property in the country.

A report by Amberlamb looks at the hopeful predictions made about Turkey as an investment destination, made as it prepares for the busy tourist season with and following news that a positive economy is improving prospects.

Turkey has been seen by analysts to be making strong progress in its attempts to become a member of the EU, which has involved reformation of 35 policy chapters - six of which are currently being developed.

It has also been revealed that since talks between Turkey and the EU commenced in 2005, there has been a notable increase in foreign direct investment - of which property plays a role.

Foreign investment has also been improved thanks to news such as an increase in trade between Austria and Turkey, with a report from Select Property suggesting that 335 Austrian companies were working in Turkey as of May 2008.

Turkey recommended to financially-stretched Britons

Thu, 8 May 2008 00:00:00 GMT

British consumers who are feeling the pinch from the ongoing credit crisis have been advised to consider visiting Turkey.

According to the Guardian, many are being forced to make cutbacks as a result of the continuing economic pressures, with some even giving up their holidays.

However, the newspaper said that such a drastic course of action may not be necessary as some parts of the world still offer affordable prices.

Turkey was highlighted as one such destination, as it currently offers favourable exchange rates with the UK.

This, it said, could be appealing to those who have been put off places such as Spain and France by the strong euro.

Commenting on the country, the Guardian remarked: "Large stretches of the south coast are a bargain bagger's bliss, offering the obscenely blue waters and startling scenery for a much lower premium."

This comes after John Bevan, managing director of Lastminute.com, told the Daily Mail that Turkey has displaced places such as Spain and France in terms of the number of online searches and bookings it has received.

Tourism industry boost Turkish economy

Thu, 1 May 2008 00:00:00 GMT

Growing tourism in Turkey is having a positive impact on the national economy, according to official data.

Statistics cited by the Turkish Press show that during the first quarter of this year, the industry generated about £1.4 billion.

This is 28.5 per cent up from the figure recorded during the same period of 2007, during which revenues of £1 billion were produced.

The figures will be welcomed by holiday industry officials in the country, as they show that efforts to increase tourism are meeting with some success.

Furthermore, the economic benefits of increased revenues will help to enhance the appeal of Turkey among overseas property buyers, particularly rental investors who wish to cash in on the tourist trade.

The release of the data comes after the government revealed that more than 23 million foreign leisure travellers arrived in the country last year.

Turkish economy benefits from tourism

Tue, 11 Mar 2008 00:00:00 GMT

Tourism in Turkey is likely to be highly lucrative for its economy this year, an expert has predicted.

Murat Dedeman, head of the Turkish Tourism Investors Association, stated that the holiday industry is likely to generate revenues of more than £10 billion this year.

Speaking to Reuters, he said tourism revenues would be up on 2007 because the country is set to attract a greater number of visitors.

Mr Dedeman told the news agency that the amount could go up by as much as 12 per cent this year.

As well as boosting Turkey's economy, this should be good news for those with a vested interest in the holiday industry.

For example, investors in rental accommodation will be able to enjoy higher returns if they receive greater demand from holidaymakers.

Mr Dedeman commented: "Turkey will have a good season".

"People are talking about a recession but this does not have too much effect on tourism," he added.

Turkey's government is currently aiming to increase the annual number of foreign arrivals from 23 million to 50 million in the next 15 years.

Credit Crunch 'Not Denting Consumer Confidence'

Fri, 18 Jan 2008 00:00:00 GMT

Worldwide economic problems are not having a negative impact on overseas property investors, an expert has revealed.

Dominic Whiting, editor of the Buying in Turkey guide, said issues such as the credit crunch and the possibility of a global recession had not dented consumer confidence.

He stated that British buyers were instead looking to fast-growing property markets that offered both lifestyle and financial benefits.

Turkey was highlighted as one such location, due to attractions such as its good weather, leisure facilities and relatively cheap house prices.

Mr Whiting commented: "The affordability of Turkish property, particularly compared to Spain and Portugal, is a major attraction for British buyers."

He added that a record number of tourists - about 25 million people - were expected to visit the country this year.

This means that demand for rental accommodation should be high in many of Turkey's biggest tourist hotspots.

Meanwhile, the Turkish Daily News has reported that the country's government is planning to launch a multimillion pound advertising campaign.

More than £70 million will be spent on promoting both established and lesser-known tourist attractions overseas.

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.

Turkey offers "huge" market for investors

Thu, 19 Jul 2007 00:00:00 GMT

Turkey's location, economy and mortgage laws make it a lucrative opportunity for property investors, according to a market expert.

Julie Anthony, Sunseekers Altinkum UK representative and partner of Fisks International, said that Turkey's positioning between the east and the west was attractive to property buyers.

She told Easier that its growing economy, which boomed by more than seven per cent in 2005, had placed in in the top 20 largest in the world.

"With new mortgage laws recently passed and a population of over 70 million, Turkey offers a huge and dynamic domestic market to foreign investors, with prices rising by as much as 25 per cent a year in some places," she told the website.

She went on to add that Brits could get a good deal on the exchange rate now and Turkish developers were putting a lot of money into tourist attractions, such as a marina and two golf courses in Altinkim.

Overseas property investment company Principal International recently commented that serious investors were casting their net of interest wider than traditional favourites like France and Spain.

Spokesperson Simon Ryeland said that development of facilities and the low cost of beachfront properties were prime factors.

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.

Turkey is a good place to business, say investors

Mon, 23 Apr 2007 00:00:00 GMT

A new survey has highlighted Turkey as a dynamic market for investors, due to the country's strong market opportunities and economic stability.

According to the 2007 Survey on Business and Investment Climate in Turkey, conducted by GfK Turkiye for the American Business Forum in Turkey, 96 percent of investors believe that Turkey has "great" market potential.

The research also revealed that 59 percent consider the Turkish government to be capable of maintaining economic stability, while 77 percent believe that inflation is under control.

Other advantages to Turkey include its membership of the European Customs Union and "some movement toward harmonisation with EU standards".

More than 50 business executives participated in the survey, which invited insights from business circles in Turkey and the US.

Last week, RightmoveOverseas said that investing in Turkey will become more popular following changes in the country's finance laws.

Until now, overseas property buyers have been unable to purchase a Turkish property unless they paid cash, but the introduction of mortgages for non-residents is likely to create an influx of foreigners buying homes on the Turkish coast, the online estate agent said.

An Aegean Paradise at Lake View Golf Apartments – Turkey

Tue, 12 Dec 2006 00:00:00 GMT

For many years now, the glistening Aegean Sea has attracted sun seeking holiday makers to its shores and property purchasers are particularly impressed with Bodrum. Dubbed the “Turkish Riviera”, it is a unique resort combines with ease the diverse elements of ancient and modern; the town centre has charming, traditional streets and alleyways steeped in history, alongside a modern marina and a trendy nightlife. Meanwhile, property development has thankfully been strictly controlled over the past couple of decades and buildings have been kept low-rise and similar in style and density.

Lake View Golf Apartments have of course been vetted by our IPIN experts and they confirm that this project is a great opportunity for those looking to invest in this high growth area of Turkey (20-25% per annum in the past 4 years!). Fabulous facilities are also on offer in the area, including a brand new Vita Park USGA golf course and clubhouse due to be completed by May 2007, which will also boast a commercial centre, cinema, cafes, bars and restaurants and much more. Lake View Golf itself is to be completed by March 2008 and will be the closest development to the sea, built on the best plot of land in Bodrum. Purchasers are reserving their stakes in this complex of 96 luxury units – 64 duplex and 32 penthouse apartments and, with prices between 49,950.00 GBP and 64,950.00 GBP, this investment is proving to be an exciting option for our investors, particularly as it is in a UNIQUE position to offer finance facilities, something that very rarely happens in Turkey. Although mortgages are still to be officially available in Turkey, through our team of professionals in Istanbul, we are also in a position to assist you with your particular financing requirements.

As these apartments are located in Bodrum, they benefit from the best and most established local infrastructure in Turkey and boast all facilities to suit even the most demanding of tourists today. They are a mere 35km from Bodrum airport and the Greek island of Kos is only 20 minutes ferry ride away. Thomas Cook operates direct flights to Bodrum from London Gatwick, Stansted, Manchester, Newcastle, East Midlands, Birmingham and Glasgow, so you should have no problem getting to your dream location.

A final quick word on Turkey as a whole - it is definitely on a rapid economic incline, due to planned entry into the European Union in 2015 and the country is currently making the many upgrades necessary for full membership. With one of the world's fastest growing economies, it is increasingly popular for people looking for a sound property investment with high returns. While Turkey continues to boast low property prices and value for money holidays, it will remain a firm favourite amongst today’s discerning property purchasers, investors and holiday makers alike.

So don’t miss out on investing in the best location in Bodrum. If you are interested in Lake View Golf Apartments, please click here and we will gladly advise you further.

Airline Competition Boosts Foreign Property Purchase

Wed, 29 Nov 2006 00:00:00 GMT

In line with popular opinion, new research by Grant Thornton continues to show a sharp increase in the amount of British purchasers of all ages and socio-economic groups buying property abroad. Today, some 300,000 UK families are flying across borders to own or take holidays in overseas property.

Today’s foreign property owners represent over half a per cent of the entire population. According to Grant Thornton’s predictions, this figure will increase to two per cent by 2025. "Thousands of UK nationals have been attracted by the lure of a warm climate, a cheap cost of living and easy access to a second home overseas," said Mike Warburton, senior tax partner at Grant Thornton. A major factor in this trend is the increased availability of budget airline services to many new destinations, along with fiercely competitive prices between airlines. Many British citizens have become entirely comfortable about popping overseas to holiday homes or on package holidays, many of whom are shopping for tickets and accommodation online. Ease of purchase and low ticket prices are further indicators of the attraction of the global property market today. Simon McNamara, general manager for infrastructure and environment for European Regional Airline Association, representing the intra-European air transport industry in Europe, said: "When the concept of low-cost carriers first took off, which was really post-2001, they really started seeing big growth." This healthy competition between airlines is emerging as a key factor in the exodus of Brits. moving abroad – all good news for today’s worldwide property investors.

TURKEY CONTINUES TO PLEASE

Wed, 23 Aug 2006 00:00:00 GMT

The sparkling coast of Turkey and beautiful surrounding countryside have long made Turkey a favourite holiday destination for many European tourists. Today, increasing numbers of property investors are choosing Turkey as their preferred location in which to purchase a holiday home.

It is estimated that in excess of an amazing 21,000 properties have been sold within the past two years in the Aegean coastal areas of Fethiye, Bodrum, Didim and Altinkum. Purchasers are predominantly from The United Kingdom, Ireland, Germany and Holland.

While Turkey steams on ahead with improvements to its infrastructure in readiness for joining the European Union, it fully intends to entice a good deal more foreign investment in the near future. The introduction of the overseas mortgage now available in Turkey is a timely addition to Turkey’s attraction as a great property investment location. This is the first time overseas mortgages have been on offer in Turkey and the move will doubtless enhance Turkey’s position on the property investment map, not to speak of further boosting its ever-growing tourist economy.