Real Estate & Property Investment News in Turkey from Propertyshowrooms.com

Istanbul leads the way in new developments

Wed, 10 Mar 2010 00:00:00 GMT

Istanbul continues to lead when it comes to property developments, a new report has claimed.

According to Turkish news source Hurriyet Daily News, for the second year in a row a joint study by PricewaterHouseCoopers and the Urban Land Institute (ULI) has found Turkey's largest city to lead the way in terms of development expectations for the coming year.

Furthermore, the city ranked in the top five for real estate purchase expectations.

The news provider quoted Firuz Soyuer, board member at ULI Turkey, as saying that Istanbul stood as one of the top areas for development.

"We will probably see bigger portfolios. Investors might also look toward different areas to spread risk. Maybe shopping streets will come to the fore again," he predicted.

"International investors are still wary toward investing in logistics. Meanwhile, hotels in Istanbul still do not number many. Thus, we will see an increase in the supply of four-star hotels on the Anatolian side especially."

Property investors looking to the country may wish to consider property in Bodrum, as three low-cost airlines have all announced plans to increase the number of flights to the region.

Turkish property is "undervalued"

Fri, 5 Mar 2010 00:00:00 GMT

Istanbul is an attractive proposition for property investors who will be able to return a good profit on their original outlay, it has been claimed.

According to a report in the Belfast Telegraph, demand for housing in the country is growing and the fact that property is relatively cheap is spurring potential investors on.

David Richardson, of Property Sun Turkey, told the paper: "Property prices are undervalued so there's an opportunity to make good money in Istanbul - up to 40 per cent profit - in the next two years for a well-chosen off-plan investment.

"But for most foreigners, I'd recommend a medium-term, five-year investment strategy as capital gains tax is nil after that period."

Potential house buyers will be able to take advantage of the fact the Turkey is currently a non-eurozone destination and as such can benefit from a favourable exchange rate between the Turkish lira and GBP.

Furthermore, the tourism industry in Turkey is expected to experience significant growth in the next few years, research company RNCOS has claimed.

Turkish developer offers investors the deposit choice

Thu, 4 Mar 2010 00:00:00 GMT

One Turkish developer has introduced an original deposit scheme for its customers in an attempt to combat the financial crisis.

Signature International has launched a 'pay what you like' payment plan at one of its best resorts in the popular region of Bodrum.

It means that customers will be given the choice as to the size of deposit they put down and the period of time over which they have to pay it.

Daniel Dias, spokesman for Signature International, explained: "We're conscious of the challenges posed by the current financial climate and try to eliminate any worries clients may have.

"Some are cash-rich and want to pay a large upfront deposit, others prefer to spread the load as thinly as possible. In every individual case, we should have it covered."

Furthermore, investors need not worry about getting a steady flow of tourists to their properties after three low-cost airlines announced that they would be implementing new flights to Bodrum this year.

Pegasus Airlines, Easyjet and Monarch will all be flying new services to the country during 2010, highlighting the growing popularity of the non-eurozone destination.

Turkey to become centre for education, art and commerce

Tue, 2 Mar 2010 00:00:00 GMT

Real estate in Turkey is set to receive a further boost after news emerged that plans were underway to transform the cities of Istanbul and Ankara into leading education, art and commerce destinations.

According to a report by Turkish newspaper Today's Zaman, the country is looking to establish itself as a leading authority on the subjects in the hope of attracting more foreign and local property purchasers.

Metin Guvener, CEO of London-based Property Dimensions, told the paper: "If you look at large conglomerates in Turkey today, they are starting to provide these acquisition services.

"They are attempting to capture this new market because universities are better, art is better and cultural activities have become more widespread, exemplified by Istanbul becoming the European Capital of Culture this year."

However, Mr Guvener warned that current legal requirements present difficulties for individuals looking to buy property in the country.

Another Turkish city which is looking like a good investment prospect is Bodrum, as three low-cost airlines have all announced plans to increase the number of flights to the region.

Airlines capitalise on Turkey's popularity

Thu, 25 Feb 2010 00:00:00 GMT

Individuals with a property interest in the Turkish resort of Bodrum will be encouraged by news that three low-cost airlines have all announced plans to fly to the destination this year.

Pegasus Airlines, Easyjet and Monarch will all be flying new services to the country during 2010, highlighting the growing popularity of the non-eurozone destination.

According to an article on Easier.com, the weak GBP is forcing many holidaymakers and property investors to stay away from traditional eurozone countries and as such Turkey has emerged as a new favourite.

Travel Association ABTA reported that it had seen a 25 per cent increase in bookings to the area during 2009 and all three airlines have responded to the demand.

Earlier this year, Turkey was tipped to be one of the top five destinations for property investment in 2010 by A Place in the Sun.

Bodrum is a port town in south-western Turkey with a warm Mediterranean climate.

Low prices make Turkey a desirable option for investors

Wed, 24 Feb 2010 00:00:00 GMT

Property buyers need to remain cautious when looking for overseas investment opportunities, it has been claimed.

Adam Samuel, director of property resource Nubricks.com, has given the warning following figures, released earlier this month by Primelocation, showing that overall foreign property searches increased by134 per cent during the course of 2009.

The portal reported that popular destinations included Spain, France and the United States, alongside emerging destinations such as Turkey, fared well.

Mr Samuel explained that although property searches had increased, it would pay to remain careful.

"We need to be cautious about what that means in terms of actual recovery. A lot more people are looking at what is available and considering where to invest."

He went on to discuss the increasing demand for property in Turkey, claiming that "relatively low" prices and the availability of bargain real estate in the country helped attract investors.

Earlier this year, A Place in the Sun predicted that Turkey would be one of the top five locations for property investment in 2010.

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.

New marinas will be a benefit to the Turkish property market

Tue, 16 Feb 2010 00:00:00 GMT

The Turkish property market is set for yet another boost as new marinas help the country become a major yachting destination.

According to Property Community, Turkey is aiming to prise business away from other Mediterranean coastal destinations by investing in new marinas.

The resort of Cesme is the latest to be given a makeover, after plans were announced to build a 400-berth port in the shoreline city.

Dominic Whiting, editor of the Buying in Turkey guide, told the website: "The marina should breathe new life into the town's waterfront, while promoting Cesme to a wider international audience of holidaymakers and property buyers.

"The ultimate aim is to double the country's share of the lucrative Mediterranean yacht tourism market from five per cent at present to ten per cent."

Currently, property investors are able to capitalise on the fact that Turkey lies outside the eurozone, which makes it cheaper for Briton's to visit because of the favourable exchange rate.

Turkish suburbs ideal for investment

Thu, 11 Feb 2010 00:00:00 GMT

Turkey has established itself as one of the major destinations for international property development in the past few years, it has been claimed.

According to Turkish property experts Experience International, property investors are turning their attention to rapidly developing cities such as Istanbul.

Steven Worboys, managing director at the firm, explained that due to the increase in people coming to live and work in the city, demand is high for housing in its suburbs.

He recommends Beylikduzu as one place with growth potential.

"The population of this suburb is expected to grow three-fold within the next five years to over a million inhabitants, further strengthening the perfect investment environment for growth and excellent rental returns," Mr Worboys added.

Meanwhile, the country benefits from being outside of the eurozone, allowing potential British investors to capitalise on a favourable exchange rate and low cost of living.

Last year, Quest Turkey reported that the country was ideal for Brits looking to purchase holiday homes.

Antalya likely to lead Turkish tourism boom

Thu, 11 Feb 2010 00:00:00 GMT

Individuals with an interest in property in Turkey may be alerted by news that Antalya could become the epicentre for tourism in the country, it has been reported.

According to Turkish news provider Today's Zaman, Huseyin Baraner, president of the Turkish Tourism Business Council, said the popularity of Turkey to tourists is fuelling the European market, with Antalya at the centre.

"Antalya will become one of the most important tourism centres in the world. As Antalya's touristic sales increase impressively, competitors to the city are seeing slowdowns at the same rate," Mr Baraner told the media outlet.

Furthermore, he claimed that Antalya was helping to keep many European tour operators on their feet in terms of holiday bookings.

However, he was quick to point out that it was important the council continued to be grounded in order to remain as successful in 2010.

Antalya is located on the south-western Mediterranean coast of Turkey and hosts numerous music and film festivals throughout the year.

Additional flights and more tourism represent good news for Turkish property

Fri, 5 Feb 2010 00:00:00 GMT

The increase in the number of budget flights and tourists travelling to Turkey will have a large impact on its property market, it has been claimed.

Dominic Whiting, editor of the Buying in Turkey guide, told online community portal Didim Today that the country's rising appeal represents great news for the property sector.

Many airlines have increased the number of flights they offer to the country in order to keep up with demand.

He argues that this will boost activity in the market and contribute towards a speedy economic recovery.

"More budget flight options, particularly from regional airports, and the growing number of British tourists holidaying in Turkey is excellent news for the property sector and promises to add to the country's appeal with home buyers," he told the portal.

British property investors can capitalise on the fact that Turkey lies outside the eurozone, with the GBP performing well against the Turkish lira.

Turkey tries to tempt buyers back with bargain properties

Tue, 2 Feb 2010 00:00:00 GMT

Turkey is the place to go if you are looking to purchase bargain property, it has been claimed.

The international economic crisis has meant that property sales in the popular tourist destination fell dramatically in 2009, which has led to developers offering "significant discounts" to tempt investors back to the market.

That is the opinion of Richard Edgar, spokesperson for Turkey and the Caribbean at the National Association of Estate Agents International, as he revealed his predictions for the global property market.

"In Turkey, bargains are to be had as developers try to encourage sales with significant discounts, particularly for cash buyers, and this trend will continue through 2010 in an attempt to mop up excess stock," he said.

"There is a glut of unsold properties providing some genuine and excellent bargains … with some offers of up to 40 per cent discount for cash buyers."

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

Turkish investors can capitalise on new flights

Fri, 29 Jan 2010 00:00:00 GMT

New flights to Turkey are testament to the growth potential of tourism in the nation, it has been claimed.

Turkish property agent Spot Blue made the announcement after Easyjet revealed that it would be introducing a new route from Gatwick to the popular destination of Antalya.

Director of the company Julian Walker said: "Given that Antalya villa owners have earned yields of six per cent per year in the last two to three years, the addition of new flights can only boost the potential rental income of Antalya properties.

"As long as new flights continue to be announced quicker and more frequent than new commercial hotel spaces, owners of privately rented holiday property … can continue to rub their hands together."

He noted that the news will also go a long way towards helping Turkey achieve its target of 30 million visitors in 2010.

British property investors can capitalise on the strength of the GBP against the Turkish Lira.

Investors will capitalise on exchange rate and cheap property in Turkey

Wed, 27 Jan 2010 00:00:00 GMT

The favourable exchange rate and low priced property will make Turkey a favourite with the British investor this year, it has been claimed.

Property Abroad has predicted a boom in the Turkish property market this year as investors look to capitalise on the country's growing tourism industry.

Data released by Anna Aero shows that Turkey is the fastest growing tourist destination in the world, with a 9.4 per cent increase in flights from Britain in 2009.

Over the past year the exchange rate has kept many investors away from expensive eurozone countries, while the Turkish Lira has remained weak against the GBP meaning there are opportunities for a bargain.

"In 2010 there are likely to be far more buyers active in the market, as tourism has seen growth," the article states.

"This is because of the massive increase in British tourism to Turkey, which has been put at around 20 to 25 per cent by the Association of British Travel Agents."

Last year Quest Turkey reported that the country was ideal for Brits looking to purchase holiday homes.

New flights to Turkey launched

Mon, 18 Jan 2010 00:00:00 GMT

Investors looking to Turkey may be pleased to hear news that Pegasus Airlines is launching additional flights to the country from the UK.

Antalya, Bodrum and Dalaman will be the destinations benefitting from the extra flights, which will be available from January 18th and departing from Gatwick, Stansted, Manchester and Birmingham.

During the summer there will be two extra flights to Dalaman a week departing from Manchester and three additional ones from Gatwick.

New journeys to Antalya and Bodrum are also planned with flights from Manchester, Birmingham and Stansted scheduled.

It has been suggested by Investor magazine Quest Turkey that the popularity of the country among British tourists may be due to the favourable exchange rate that exists as a consequence of the country being outside of the eurozone.

In a forecast reported by Hurriyet and issued by the Turkish Association of Real Estate Investment Companies, Turkey's property market is predicted to grow five or six per cent in 2010.

They noted that this was expected to occur despite house prices remaining flat.

Investors may be drawn to the rental market in Turkey

Mon, 18 Jan 2010 00:00:00 GMT

Investors looking to buy-to-let in Turkey will be boosted by the news that the holiday rental industry has seen an increase in enquiries in the first ten days of 2010.

Overseas Property Portal (OPP) reported that holiday rental website holidaylettings.co.uk had over one million potential travellers visiting its website at the start of the New Year, an increase of over 50 per cent compared with the same period in 2009.

Popular destinations included Spain, France, UK and Portugal but it was Turkey that was tipped as the location to do well in 2010.

In an interview with OPP Kate Stinchcombe, a spokeswoman for Holidaylettings, remarked that: "Early insights show that Turkey is going to benefit once again this year and took a significant stake in the pre-Christmas bookings for summer 2010."

"It is currently the seventh most popular country destination in the January rush for holidays."

Late last year, investor magazine Quest Turkey said the country's tourist rental sector had been benefiting from being outside the eurozone as this makes it cheaper for Britons to visit because of the favourable exchange rate.

Turkey could provide a 'good' investment opportunity

Fri, 15 Jan 2010 00:00:00 GMT

Turkey looks set to be a good investment prospect, it has been claimed.

The chairman of the country's Real Estate Investing Partners Association (GYODER) spoke at a press conference expressing his belief that the growing population, combined with rapid urbanisation, would lead to a significant increase in demand for housing.

According to GYODER, housing sales already rose 24 per cent during the first nine months of 2009, with 416,000 units being sold.

The figure is expected to continue its ascent in 2010, but according to Turgay Tanes, GYODER's chairman, the effect of the recession is likely to slow the overall growth.

"The real revival in the sector will take place in 2012,"said Mr Tanes.

"With an increasing population and advancing urbanization, the need for housing will rise."

Mr Tanes believes that foreign investment will rise in the coming year, taking the total amount of money coming from abroad to $10 to $12 billion.

Istanbul is the 2010 European City of Culture.

Overseas investment could soar as Brits look to emigrate

Wed, 13 Jan 2010 00:00:00 GMT

Overseas investment could reach a new high as research shows that a third of Britons are hoping to head off into the sun by the end of 2020.

The results of the survey, conducted by the experience day website intotheblue.co.uk, found that as many as 34 per cent of Brits were keen to emigrate within the next decade, with 86 per cent of them looking to move to a warmer climate and 18 per cent looking to reduce their cost of living.

Both factors make Turkey an ideal destination for those wanting to escape the rigour of life in Britain, with the strength of the GBP against the Turkish Lira combined with its Mediterranean climate appearing to tick the right boxes for potential investors.

Commenting on the results, Rob Holmes, ecommerce and marketing manger of Intotheblue.co.uk, said: "This is interesting because it shows that the public are fed up and want to experience something different."

The likelihood of Turkey's acceptance into the EU has made it an attractive option for many tourists and property investors.

Turkey in new flights boost

Fri, 1 Jan 2010 00:00:00 GMT

Turkish property seekers may be boosted by news that Monarch Airline is launching extra services to the country from the UK.

The cities of Bodrum, Dalaman and Antalya will be receiving extra flights from May 2010, with new journeys plus additions to existing ones.

Property buyers flying from Luton will now get two planes a week to Dalaman and the same number to Bodrum, having had none previously.

Other new routes include Birmingham to Dalaman three times a week and two services from Manchester to Antalya.

The number of existing journeys to Dalaman and Bodrum from Gatwick and Manchester will be increased.

Noting the rise in demand for flights to the country, director of Monarch Flights and Holidays Liz Savage said: "Turkey offers fantastic value for money with holidaymakers and overseas property owners."

Investor magazine Quest Turkey recently suggested the low exchange rate between the pound and the Turkish lire was helping encourage Britons to come to the country and stay in buy-to-let accommodation instead of eurozone destinations.

Turkey's property market 'to grow in 2010'

Fri, 25 Dec 2009 00:00:00 GMT

Turkey's property market is set for growth of five to six per cent next year, it has been predicted.

The Turkish Association of Real Estate Investment Companies issued the forecast, noting that this is expected to occur despite prices remaining flat, Hurriyet reports.

Chairman of the body Turgay Tanes commented: "The contraction in 2009 is expected to leave in its place limited growth in 2010. We do not expect any further declines in interest rates."

However, in a message that may interest those keen to see their investments in the country grow, he added that the "real revival" will take place in 2012.

Such a situation could mean those buying now or in 2010 will be able to enjoy significant growth in the value of their assets in the longer term.

Earlier this month, investor magazine Quest Turkey said the country's tourist rental sector has been benefiting from the low costs of travelling there, due to it being outside the eurozone and therefore less expensive for Britons due to the more favourable exchange rate.

Turkey 'ideal for holiday properties'

Wed, 9 Dec 2009 00:00:00 GMT

Turkey has become an ideal place for Britons who wish to go overseas to hire a holiday home during the tough economic climate, it has been stated.

Quest Turkey quoted the managing director of Holiday-Rentals Courtney Wylie as saying the cheaper nature of such accommodation has proved attractive when purse strings are tight.

He commented: "While the travel industry in general struggles, demand for rentals is going from strength to strength as travellers realise they can rent a whole home for less per head than a hotel."

They can also save money by self-catering, he added.

According to the magazine, Turkey is a clear example of a country where such considerations apply, noting that its location outside the eurozone has helped keep prices down, making it a good place to invest in this kind of property.

Turkey was also recently tipped as a good place to go for ski homes.

In a feature on countries offering this at low prices, overseas investment magazine BuyAssociation noted that it is possible to spend a morning on the beach and still get up to snow-covered mountains by cable car for skiing in the afternoon.

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.

Turkey tip for ski property

Fri, 20 Nov 2009 00:00:00 GMT

Turkey has been tipped as a good place to invest in ski properties, despite its reputation for sunshine and beaches.

Property investment magazine BuyAssociation noted the fact that the country has snow-covered mountains, which are easily reached from the coast and have property available at low prices.

One example given is where an afternoon of skiing can be had on Tahtali in the afternoon - the venue having been reached by cable car - after a morning by the sea.

The magazine also stated that in the Kemer area a villa can be purchased for around £55,000.

Such figures may attract those keen on investing in ski property who want to grab a bargain.

Britons who prefer Turkey's coast may wish to buy in Bodrum, which has continued to boom, according to developer Horizon Sky.

It is in the process of building 600 units in a new construction project and 400 of them have already been bought.

Bodrum 'set to go on growing'

Thu, 19 Nov 2009 00:00:00 GMT

Property investors in Turkey have good reason to regard Bodrum as a prime destination, it has been argued.

Developer Horizon Sky - which has a construction project in progress on the peninsula - revealed that 400 of its 600 units have already been sold.

It said that this testified to the wide appeal of the resort, which has good beaches, yachting and golf on offer.

The firm also noted that the favourable rate of exchange between the pound and the Turkish lira makes the cost of living low, while those buying at the Horizon Sky resort have been able to do so in sterling.

Another piece of good news for Bodrum is that low-cost airline easyJet has lunched new services to the destination and Horizon stated that it is likely these will be extended next year.

Buying in Turkey could be about to get cheaper still, according to overseas investor magazine BuyAssociation, due to anticipated interest rate cuts that would lower the value of the Lira.

Turkish buy-to-let 'gaining from exchange rates'

Fri, 13 Nov 2009 00:00:00 GMT

Buy-to-let tourist rentals in Turkey are thriving thanks to a surge of British visitors caused by the favourable exchange rate, an investor has noted.

Libby Garside told the Daily Mail that she and her husband Ted rent out their villa in the Mediterranean coastal resort of Kalkan when they are not holidaying there with their daughters.

Observing a rise in demand from Britons for its use, she said: "More consumers seem to be looking to Turkey as a holiday destination due to rising costs in more traditional European resorts and also because of the terrible sterling to euro exchange rate."

The paper stated that foreign exchange firms have also seen a rise in the trading of sterling for Turkish lira and Egyptian pounds as tourists look for cheaper alternatives to the eurozone.

In contrast, it observed, the poor return on UK pounds converted into euros is making travel to many traditional destinations more expensive.

Turkish lira could be even less expensive soon as the value is expected to drop with an anticipated cut in the country's interest rates, overseas investor magazine BuyAssociation has noted.

It said this could effectively make Turkish homes seven per cent cheaper.

Turkey 'about to become cheaper'

Wed, 11 Nov 2009 00:00:00 GMT

Buying property in Turkey is set to become cheaper to do because of movements in exchange rates.

According to overseas investor magazine BuyAssociation, the pound may soon rise in value as the UK economy picks up, while the Turkish lira is expected to fall, making the exchange rate more favourable to Britons.

It suggested that the expectation of base rate cuts in Turkey has pushed its currency down, while an actual cut would make mortgages less expensive there.

Buying a home could become seven per cent cheaper on the basis of a favourable exchange rate swing, the publication predicted.

Those keen to buy in Turkey have ten good reasons to look at Altinkum, Didim Today suggested recently.

Among these are its climate, the low cost of living, easy air access via nearby Bodrum and Izmir airports and the prospect of prices rising with the development of a marina and golf course nearby.

Altinkum offers 'ten reasons' to invest

Tue, 10 Nov 2009 00:00:00 GMT

There are ten good reasons to buy property in the Turkish resort of Altinkum, it has been suggested.

The Didim Today newspaper stated that the area offers both a wide choice of properties for sale and affordable prices.

At the same time, there is the prospect of values rising as a new marina for the resort will soon be complete and a golf course is due to be built next year.

The paper noted that the general cost of living is low, while the district offers plenty of entertainment, a blue flag beach and a warm climate.

It was also advised that history lovers can see the nearby temple of Apollon and access to the area is easy, with international flights from Bodrum and Izmir.

While the list may provide reasons for some people to choose Altinkum, Turkey as a whole has been tipped as a good investment recently.

Last month, founder of broker Istanbul Mortgage Bahadir Teker told the Financial Times that the prospects for expansion in the market are strong, meaning "now is a good time to buy."

Turkey advertising expert advises on best places to find property

Sat, 7 Nov 2009 00:00:00 GMT

Those keen to buy a Turkish property may be interested in advice given to sellers by a firm of experts in the country.

The Turkish Villa Finder website has produced a number of such tips, Didim Today reports.

It said those looking to sell should inform a wide range of estate agents, as well as putting up for sale signs.

It also said people should look to advertise these properties via specialised real estate websites, online banner advertising and the classified sections of papers such as Didim Today.

Those keen to buy a property in Turkey may find such sources a good way to discover the home they want to buy.

One reason to acquire a house or apartment in Turkey may be the lower cost of living, according to a previous article by the same paper last month.

It noted that this is 60 per cent cheaper than in Britain.

Turkey 'a cheaper place to live'

Fri, 30 Oct 2009 00:00:00 GMT

Expats could be attracted to Turkey by its low cost of living, it has been suggested.

Turkish newspaper Didim Today said this is 60 per cent less than in the UK, something that might tempt those considering buying in the country.

People wondering whether it is the right country to live in need to find out more by going there, Julian Walker of Turkish property specialists Spot Blue was quoted as stating by the news provider.

He said: "A lot of people from Britain haven't visited Turkey before and are anxious about it. But once they see how much beautiful, open space there is, they understand its potential."

According to Deutsche Bank, Turkey is set to see five to six per cent price rises annually over the next ten to15 years.

Speaking to the Financial Times earlier this month, founder of broker Istanbul Mortgage Bahadir Teker said the current climate of low interest rates, affordable housing and plentiful mortgage supply makes now a good time to invest in property in the country.

Turkey will remain a popular location with Britons taking overseas holidays next year because of its favourable exchange rate, American Express has predicted.

Such a situation could encourage those involved in investing in tourist rental property.

Turkey and Egypt 'to stay popular'

Thu, 29 Oct 2009 00:00:00 GMT

Turkey and Egypt are set to remain as popular tourism destinations in 2010, according to American Express.

Figures from the firm's Global Foreign Exchange Services Currency Index showed that the two countries became increasingly popular this year as summer holiday destinations, with more favourable exchange rates with sterling than the euro.

This saw a 60 per cent year-on-year rise in demand for Egyptian pounds and a 26 per cent increase for Turkish lira.

Such a trend is likely to continue next year, the firm predicts, which could make these countries a good place for those investing in tourist property to buy.

One Turkish resort recently tipped to fare particularly well in 2010 is Altinkum.

Earlier this month, Didim Today reported that a new golf course is planned for the area, in addition to the marina currently being built.

Editor of the Buying in Turkey guide Dominic Whiting told the paper: "It will certainly broaden the area's appeal and have a positive effect on the property market."

Turkey 'boosted by exchange rate'

Wed, 21 Oct 2009 00:00:00 GMT

Turkey's exchange rate with sterling has made it more popular with British holidaymakers, Marks & Spencers (M&S) has said.

The M&S Travel Money Report for the third quarter of the year put the Turkish lira third in the list of most sought-after currencies for sterling conversions, with the cheap cost of visiting the country making it more attractive to holiday in.

M&S travel money manager James Yerkess remarked: "The Turkish lira is one of the few currencies against which the pound has held its value since last year, meaning tourists heading to Turkey will still see their cash go further."

Such a situation may boost those looking to invest in buy-to-let property in Turkey, as this year's trend might help establish it as a favourite destination with many people who might otherwise have opted for somewhere in the eurozone.

Earlier this week, founder of brokerage firm Istanbul Mortgage Bahadir Teker listed a number of reasons to suggest why now is a good time to buy in Turkey.

He told the Financial Times mortgages are plentiful, interest rates are dropping and affordability has improved.

Turkey 'a good place to invest in now'

Tue, 20 Oct 2009 00:00:00 GMT

The present time offers a good opportunity to invest in Turkish property, it has been stated.

Founder of broker Istanbul Mortgage M Bahadir Teker told the Financial Times that the country is currently enjoying a favourable combination of affordability, lower interest rates and a plentiful supply of mortgages.

He continued: "We're going to see growth next year and new development opportunities arising mid-year, so I think now is a good time to buy."

According to the paper, those keen to buy a waterfront flat in fashionable areas of Istanbul can do so for around 30 per cent less than a year ago.

At the same time, it noted, prices as a whole have shown signs of being firm across the country.

It was recently suggested that Altinkum is a good place to invest in during 2010.

Didim Today said the resort is good for tourist rental because it appeals not just to the overseas sector made up mainly of Britons and Germans, but also Turks looking for domestic breaks.

Altinkum tipped as double rental prospect

Fri, 9 Oct 2009 00:00:00 GMT

The Turkish Aegean coastal resort of Altinkum offers a double incentive to investors, it has been claimed.

According to Didim Today, those hoping to buy overseas property for rental purposes can make the most of the fact that there is both a domestic and an international market for tourist rentals in the area.

This is because the resort is favoured not just by Turkish holidaymakers, but also by tourists flying over from Britain and Germany, it noted.

Akltinkum's attractions are manifold, the paper stated, including historic features like the Temple of Apollon, the current Aqua Water Park, the marina currently under construction and a future planned golf course.

The paper also noted that crime rates are low, as is the cost of living, while English is widely spoken in the area.

Property Abroad recently tipped Altinkum as one of its property hotspots for buyers in 2010, along with fellow Turkish resorts Belek and Dalaman.

Turkish resort in golf course boost

Tue, 6 Oct 2009 00:00:00 GMT

A Turkish resort that is already popular with British buyers is set to get a new golf course, it has been stated.

Planning and tourism officials have given the green light for an 18-hole course and residential village in a 170-acre site at Altinkum, Didim Today reports.

This will be a "major boost" for the area, not least as it is taking place alongside the opening of a new marina next year, said editor of the Buying in Turkey guide Dominic Whiting.

He added: "It will certainly broaden the area's appeal and have a positive effect on the property market."

The paper noted that there are already 7,000 Britons in Altinkum, with most having been able to buy their properties there for under GBP30,000.

However, it suggested, the top-end market may now develop due to the new facilities being created.

Property Abroad recently said Altinkum's new marina will make it one of Turkey's best property hotspots in 2010.

Turkey tip for New Year buyers

Thu, 1 Oct 2009 00:00:00 GMT

Those looking for the best place to invest in overseas property early in 2010 have been advised to consider Turkey.

Property Abroad said the country is growing in popularity with holidaymakers, particularly from Britain, as its lira has a more favourable exchange rate with the pound than the euro from the point of view of UK consumers.

The three locations noted as particularly favoured are Dalaman, Belek (because it is near the Olu Denz coastal area) and Altinkum with its new marina.

All of these have cheaper property and plenty of rental demand, the portal stated.

Hurghada in Egypt and Tenerife in the Canary Islands were also tipped as good prospects.

Earlier this month, international mortgage firm Conti identified Turkey as a fast-growing market, noting that 13 per cent of its mortgage enquiries so far this year concerned the country, making it the third most popular buyer destination.

This figure was an increase in the 11 per cent total for 2008, Conti revealed.

Warning over non-European currency values

Sat, 26 Sep 2009 00:00:00 GMT

Those changing sterling into currencies outside the eurozone may not know enough about the value of goods in the countries in question, it has been stated.

Chief executive at foreign exchange firm FairFX.com Stephen Heath stated that as the pound has fallen nearly 20 per cent in value against the euro in the past year, consumers are looking father afield for their holidays.

"So people rep have looked at other destinations like Turkey and Egypt and have less knowledge about the currencies in those countries and the value of those," he observed, advising that consumers should seek more information.

While such advice may be useful for holiday makers, it could also be handy for people looking to buy a property in a country such as Egypt, both to show if their possible house purchase represents good value and to understand general living costs better.

Purchasing in a country like Egypt may be more attractive due to the weakness of the pound against the euro.

Comments by Bank of England governor Mervyn King this week suggesting a weak pound will be good for Britain because it will boost exports have been seen as causing a further drop in the value of the currency against the euro.

Turkey tipped as boom market

Thu, 17 Sep 2009 00:00:00 GMT

Turkey has been identified as a boom market by an international mortgage firm.

Conti Finance said that its own figures revealed the country to still be the third most popular nation for prospective British buyers of overseas property, accounting for 13 per cent of enquiries so far this year.

This was up from 11 per cent in 2008 and reflects a number of advantages the country offers, according to the company.

The mortgage supplier said that Turkish property offers both a Mediterranean location and a non-euro currency, which makes it cheaper for Britons.

It also stated that rising tourist numbers - anticipated to reach 30 million for 2009 - are helping to boost the fly-to-let investment market.

The firm commented: "This will ensure that demand for quality rental properties in the popular tourist areas will continue to outstrip supply, making rental yields very lucrative."

Shelter Offshore recently recommended Turkey as a good place to emigrate to for those of limited means, because of its low cost of living.

Turkey 'an affordable destination'

Tue, 15 Sep 2009 00:00:00 GMT

Turkey has been tipped as one of the easiest places for those wishing to leave the UK to relocate to because of its low cost of living.

Overseas lifestyle magazine Shelter Offshore said there are ways in which even those of modest means or who are unable to sell a property to finance a move can emigrate from Britain if this is their ambition.

"Start your own business, seriously downsize, move to a far more affordable country such as Turkey for example," it advised.

Such advice came as the publication noted the increasing tendency of Britons to move overseas, something it said the recession has helped to increase.

It quoted official government statistics showing that 395,000 people left Britain in 2008, compared with 340,000 in 2007.

Turkey's property market is currently at the point of bottoming out, lifestyle magazine Quest Turkey recently said.

The publication advised against holding back from buying in the belief that values may fall further in the country.

Now 'is good time to buy in Turkey'

Thu, 27 Aug 2009 00:00:00 GMT

Those holding back from buying property in Turkey because they think prices will fall further are mistaken, it has been stated.

Lifestyle and investment magazine Quest Turkey said some people are anticipating lower prices but commented that many are recognising that the market is "bottoming out" now.

The publication added that the country is offering advantageous exchange rates for sterling buyers due to not being in the eurozone, noting: "The good news from the current economic situation is that you can land a real Turkish property bargain."

It advises those who are making an acquisition in the country to make sure they study prices in the location where they buy and haggle if necessary to ensure they are not paying a comparably high amount.

Other tips included targeting established property buyer areas and checking a property to ensure its construction quality is high.

Writing for Mortgage-Solutions Online earlier this month, Conti Finance mortgage expert Michael Axelrod said the country is "becoming one of the top investment destinations in 2009".

Turkey 'fast emerging for investors'

Wed, 19 Aug 2009 00:00:00 GMT

Turkey is a country that is rapidly emerging as a hotspot for overseas property investors, it has been stated.

Writing for Mortgage Solutions-online this week, mortgage expert with Conti Finance Michael Axelrod commented that the country is "rising fast, becoming one of the top investment destinations in 2009".

He said his firm has seen a 65 per cent rise in applications for homeowner loans in the country, with Turkey benefiting from not being in the eurozone and therefore being cheaper for UK buyers.

Mr Axelrod also remarked that the country is tipped to see tourist numbers reach 30 million this year, stating that this is good news for holiday rentals investors as demand for these "will continue to outstrip supply".

Last month Quest Turkey Property and Lifestyle Magazine identified the town of Dalyan on the Turquoise Coast as a place that has emerged as a major property investment destination.

It noted that the town benefits from sunny weather, wildlife attractions that include turtles nesting on the beach and good accessibility due to being near Dalaman's international airport.

Check title deeds, Turkish property buyers advised

Tue, 28 Jul 2009 00:00:00 GMT

Those looking to buy a property in Turkey should make it a priority to do more than look at the title deeds to any home they are seeking to purchase, an expert has said.

Such advice has been delivered by the Sunday Zaman newspaper, which stated that under the law of the country a home seller does not give up the title deed, as the new buyer gets a fresh one.

This makes it theoretically possible for a home to be sold more than once, so buyers should look at the official register rather than just the deed, it notes.

However, the paper said, there is no reason why overseas property buyers should not be able to make purchases without any problems, noting: "It must be possible, as over 85,000 foreigners have managed it."

Last week Quest Turkey Property and Lifestyle Magazine noted that Dalyan has become a major centre for overseas buyers in recent years.

Its location on the Turquoise Coast and proximity to Dalaman's international airport were two factors cited in its success.

Dalyan tipped as top Turkey destination

Sat, 25 Jul 2009 00:00:00 GMT

The town of Dalyan has emerged as a major destination for Turkish property buyers in recent years, it has been stated.

According to Quest Turkey Property and Lifestyle Magazine, the location, close to Dalaman, has enjoyed a major rise in recent years, thanks to its Turquoise Coast location, where nesting loggerhead turtles are among the natural attractions.

The area also benefits from having nine months of sunny weather per year, while it is also close to Dalaman's international airport, making it accessible from the UK.

Another benefit of the area that may interest investors is the application of local planning controls to restrict development.

Those keen on property in Turkey must make sure they carry out due diligence and are aware of some particular requirements non-nationals must fulfil, Zaman newspaper recently stated.

Among these are a requirement to supply the names of one's parents and to check that the property is not in a militarised zone, as only Turks can buy in such areas.

Due diligence recommended for Turkey property buyers

Tue, 21 Jul 2009 00:00:00 GMT

Those buying property in Turkey should make sure they carry out due diligence before doing so, it has been advised.

Such a point was among a number of issues listed in Turkish paper Zaman to help foreign buyers.

Other tips included those who cannot speak Turkish appointing a translator when dealing with negotiations and documentation as buyers must by law know what they are signing up to.

Among requirements that may be less common elsewhere are having to provide the names of one's parents, as well as the need to obtain a tax number as ID and legal checks to ensure the property being bought is not in a militarised zone - these being barred to non-Turks.

Such advice may help those preparing to make an acquisition in the country.

Earlier this month, Quest Turkey Property and Lifestyle Magazine suggested Turkey's coastal areas offer a good prospect for investors.

The development of various marinas and the cruise industry is helping economic growth in such locations, which is "pushing up demand for homes in the area and increasing rental potential", the publication stated.

Popularity of cruises 'boosts Turkish coastal property market'

Fri, 10 Jul 2009 00:00:00 GMT

The growing popularity of cruises and yachting has pushed up the property market in coastal areas of Turkey, it has been claimed.

According to Quest Turkey Property and Lifestyle Magazine, the weather and the "stunning coastline" are good reasons to purchase homes in the country and many resorts offer good access and facilities, such as modern marinas with "breathtaking views".

"The marinas offer potential for economic growth and jobs, thus pushing up demand for homes in the area and increasing rental potential," the news source suggested.

Highlighting the attractions of marina living, the article profiled a number of potential locations for property purchases in Turkey, including Gocek, Kas and Didim, which has a large marina featuring upmarket shops, restaurants, a planned golf course and views across the southern Aegean.

Those investing in property in Turkey are advised that British Airways is increasing its flights to Istanbul from Heathrow Airport as of October 25th as part of changes to its winter schedule.

Turkey's low prices highlighted

Mon, 29 Jun 2009 00:00:00 GMT

The low cost of buying and living in Turkey is a reason for its attractiveness to UK buyers, it has been stated.

Head of private clients at property firm World First Elisabeth Dobson noted that many British purchasers are looking for homes at the lower end of the market, commenting: "People are attracted to properties in the region of £30,000 as they know that in the UK they will have to spend that on a new car."

She noted that the country is also affordable because it does not use the euro as its currency - making exchange rates more favourable - while the equivalent of council tax costs £150 a year and there are many cheap places to eat and drink.

Ms Dobson also remarked that the country has a range of cultural attractions that would appeal to people whose interests extend beyond "cheap beer and discos".

Figures from overseas mortgage specialist Conti showed that the number of mortgage applications for homes in Turkey was 65 per cent higher in the first five months of this year than the final five months of 2008.

Top Turkey properties 'available for under EUR50,000'

Fri, 19 Jun 2009 00:00:00 GMT

Those wishing to buy a good property in Turkey can find plenty of prospects at prices of EUR50,000 (GBP42,850) or less, it has been stated.

Property and lifestyle magazine Quest listed three examples of the sort of bargains UK buyers could enjoy.

These included a three-bedroom, two-bathroom villa with a sea view near Bodrum, a three-bed beach apartment at Fethiye, Calis Beach and a one-bed apartment near the beach in Alanya.

Good reasons for buying in Turkey noted by the magazine were a more favourable exchange for sterling buyers to the Turkish lira than the euro, the attractive coastline and the prospects for holiday rentals as tourism in the country continues to grow.

European sales manager at real estate firm Atlas International James Dearsley said this week that tourism not only boosts investment by encouraging buy-to-let, but also through people who have enjoyed the country on holiday thinking: "Why don't we buy a property here?"

Turkish property 'available for GBP35,000'

Wed, 20 May 2009 00:00:00 GMT

It is possible to pick up a flat for as little as GBP35,000 in the Turkish resort of Antalya , it has been stated.

A Daily Mail feature on the resort noted that such accommodation is available despite the fact that the area has become the scene of famous celebrities, with the GBP1 billion opening of a new luxury hotel being attended by A-listers such as Tom Jones, Mariah Carey, Sharon Stone and Richard Gere.

However, the paper stated, cheap accommodation is still available, although prices are rising by 20 per cent a year, suggesting those making acquisitions could see their value rise substantially.

Among Britons enjoying the area is 52-year-old Bob Cotgrove, who told the paper: "The great golf courses, cultural history, fantastic beaches and, of course, the prices, have been a big draw."

Earlier this week a representative of Antalya's chamber of commerce told the Anatolia news agency that with less red tape for buyer, the area could become a major hotspot for overseas buyers, Hurriyet.com reported.

Antalya tipped as property hotspot

Tue, 19 May 2009 00:00:00 GMT

The removal of red tape and a better image could help turn the Turkish town of Antalya into a property hotspot, it has been suggested.

Antalya's chamber of commerce has told the Anatolia news agency there are 21,000 homes ready to be purchased by overseas buyers at healthy prices if the level of bureaucracy involved can be reduced and Turkey's image improved, Hurriyet.com reports.

Faruk Sayin, a member of the acting board of the chamber, said: "The decrease in prices and the rising exchange rate make our country attractive for foreigners to buy real estate."

A recent report sent by the body to the government argued that conditions such as obliging prospective buyers to write for permission to the Aegean Army Command - which can leave a long wait for an answer - should be relaxed.

Britons buying property in Turkey have helped increase tourism in much of the country, Artemis Travel noted.

It said that beach resorts like Didim and Altinkum - where the firm operates - are particularly popular.

Quality property 'sought by visitors to Turkey'

Thu, 30 Apr 2009 00:00:00 GMT

Holidaymakers going to Turkey are increasingly focusing on higher quality accommodation, it has been stated.

Chief executive at Artemis Travel Nigel Harris said that the country used to be looked at as a cheap destination with last-minute travellers, but commented that this has now changed.

He stated: "Customers this year are looking for a combination of quality accommodation, flexibility on flights and duration and value for money."

Those investing in rental holiday property in the country may wish to consider such comments when choosing what to buy.

Mr Harris also commented that visitors are looking to get value-for-money, with the Turkish lira offering better exchange rates with sterling than the euro.

Turkey may be popular at present because of its favourable exchange rates, as a recent survey by M&S Money found that 36 per cent of Britons take into account a country's exchange rate when planning an overseas holiday.

Turkey 'gaining in popularity'

Wed, 29 Apr 2009 00:00:00 GMT

Turkey has become an increasingly popular destination for Britons, both for holidays and as a place to live permanently, it has been stated.

Discussing this development, chief executive at holiday home firm Artemis Travel Nigel Harris said the rise in tourist numbers is partly affected by people visiting relatives living in the country, although the higher cost of eurozone holidays and an increase in flights to Turkey are larger factors.

He stated: "Airlines have looked at Turkey as a destination and have looked at where they can best utilise their aircraft and offer more choices to Turkey from regional airports."

The rise in travel options to the country may encourage those considering investing in

Turkish property

.

Mr Harris said Didim and Altinkum are particularly favoured areas, although tourist trips to Istanbul and various beach resorts are also becoming more prominent.

Turkey was voted the tenth most popular overseas investment prospect for 2009, according to the annual Jet-to-let survey published earlier this year.