Turkey is ripe for investment
With the rising numbers of tourists visiting Turkey every year, investors are flocking to buy property here.
In addition, the recent announcement by the London branch of IsBank, a prominent Turkish financial Institution, that mortgage services are now available specifically for UK residents looking to invest in the country, brings welcome news for the property market in Turkey. There are currently no restrictions on foreign nationals buying property in Turkey and investors are free to transfer any sale proceeds or rental income out of the country. With English being widely spoken, property transactions are relatively quick and easy to effect.
Principal International is currently offering luxury 2 bedroom apartments from as little as 64,000 Euros, making Turkey one of the best value for money European overseas investment destinations available on the market.
“Over 17000 UK Investors owns Property in Turkey”
There has been a significant increase in the numbers of tourists visiting Turkey in 2007, with nearly 14 million in August alone. Information published by the Turkish Statistics Institute reveal that the numbers are rising at least 16.5% year on year and these numbers are expected to reach an all time high by the end of 2007.
With talks still underway regarding its entry to the EU, if successful this will almost guarantee that any property purchase made before then will be set to rocket in price. Investors are urged to act quickly to ensure a rewarding growth in capital, and with its popularity as a number one holiday destination for many Europeans, the rental opportunities are abundant all year round.
Life’s a beach towel in record-setting Cyprus
Holidaymakers recently flooded from their hotels, villas and apartments in Cyprus to participate in some record-breaking sunbathing when the world’s biggest beach towel was unveiled at a massive summer party on Sunday, June 1st.
The gigantic azure-blue towel was the focal point of the unique beach party organised by Aeolos Travel and bookcyprus.com at the beautiful beach of Fig Tree Bay in Protaras.
Covering 1900 square metres of the sandy beach, the towel - which measured 64 x 31 metres and is now registered in Guinness World Records – bore the bookcyprus.com logo. All those who attended the party as part of their Cyprus holiday were offered the chance to take part in the unique record-breaking event.
Guinness representative Ms Jenny Karambiki measured the towel before it was officially recognised as being a record-breaker. The relevant certificate was then presented to Sotos Stephanou, managing director of Aeolos Travel and Bookcyprus.com, to the cheers of tourists who witnessed the special occasion during their holiday in Cyprus.
A large number of holidaymakers joined in the celebrations, which lasted from morning until sunset. Their summer holiday in Cyprus was enhanced by an all-day entertainment programme which included traditional local dancing and musical performances from a range of artistes.
The event was covered by a live radio link, provided by Energy radio 107.6, and featured competitions to win special prizes offered by the party’s organisers and sponsors.
As a memento of their Cyprus holiday every participant will have a small piece of the record-making beach towel sent to their home.
Sponsors of this event were the Municipality of Paralimni, Movie Couriers, Hummer Cars, Capo Bay Beach Hotel, Cyprus Airways, and CTO. Media sponsors were Sigma TV, Radio Energy 107.6 and City Free press newspaper.
Greek Minister pays official visit to Cyprus
The Minister of Foreign Affairs of Greece Mrs Dora Bakoyiannis recently paid a three-day working visit to Cyprus.
Mrs Bakoyiannis held a meeting with her counterpart, the Cyprus Minister of Foreign Affairs, Mr Markos Kyprianou. Official talks also took place, involving delegations from both sides.
During her visit, Mrs Bakoyiannis was received by the President of the Republic of Cyprus Mr Demetris Christofias and by the President of the House of Representatives, Mr Marios Garoyian.
The Greek Foreign Minister had meetings with the former Presidents of the Republic Tassos Papadopoulos, Glafcos Clerides, and George Vassiliou. She also had separate meetings with leaders or representatives of parliamentary parties in Cyprus.
Mrs Bakoyiannis was the key speaker at a public debate in Nicosia on “The European Union after the Lisbon Treaty”. The Foreign Ministers of Greece and Cyprus also delivered speeches on “The European Future of a reunified Cyprus,” at a gathering organised by the Paphos Municipality.
The visit and the talks are important for a number of reasons. Including the fact that they help to point out that Greece and the Republic of Cyprus are both members of the European Union and that investment in property in Cyprus are, therefore, protected under European Union laws.
And the possible future reunification of Cyprus -under the aegis of the European Union- would help to improve the economy of the entire island of Cyprus which would, in the longer term, help to lead to renewed economic growth and regeneration in all parts of Cyprus.
So the position of people investing in property in Cyprus (be they commercial or business, or property such as villas or apartments) should be much strengthened. As this is the case, it might be wise to look at investing in properties in Cyprus now, rather than later.
Turkey property is getting hotter
Property in Turkey is becoming a hot investment location as more and more serious investors look further a field to escape the traditional European favourites such as France and Spain.
With the recent introduction of new mortgage laws and the improvement in its infrastructure, the floodgates are set to open and new competitively priced opportunities will become available to the investor market as the economy of the country grows.
Simon Ryeland, Director of Principal International quotes ” with more foreign capital being encouraged by the government, the expectation is that the countries economy will flourish bringing with it more tourism and therefore investors”.
The ongoing development of new roads and much improved and increased airport facilities makes Turkey one of Europe’s hottest investment destinations in 2007, its popularity is further increased by the low price of high quality beachfront resort apartments and villas.
Turkey - Property Investment Destination 2008?
The government in Turkey have come to realise that the existing laws on foreign land ownership have restricted investment and it could be said therefore limited tourism. With the introduction of competitive mortgage facilities to foreign investors, Turkey is emerging as a prime property investment market.
Visitor numbers are increasing year on year and with that brings potential investors says Principal International, added to that, prices in some of the more popular resorts are reported as rising healthily. Some 500,000 visitors each year come here purely for health reasons, according to the Turkish culture and tourism department. Turkey boasts 1500 geothermal resources with chemically rich thermal waters, and this makes it Europe’s number one location for geothermal potential.
Why buying property in Turkey is a lot safer, now
Reports that dubious -or even illegal- so called real estate agents (often waiters, taxi drivers, receptionists and even some medical doctors, it is reported) have entered into potentially illegal property purchase deals have encouraged the Turkish authorities to nip this problem in the bud.
The government is working hard to ensure that the chance of foreign investors being taken for a ride is reduced to a minimum.
Reports show that in the four years until 2007 overseas investors (mainly from Britain and Germany) have invested a impressive £5 Billion on Turkish property . Turkish government figures show that some 73,000 foreign nationals now own property in Turkey.
But illegal deals entered into by illegal real estate agents has caused something of a headache for the government and for honest, legal real estate agents.
But moves to tighten up the law governing real estate agents and how they operate are to be applauded. Now, when you are looking to buy -for example- a villa in Turkey, you should be able to do so in confidence. Safe in the knowledge that the person selling you your dream home or ideal investment property in Turkey is a genuine, full-time real estate agent and not a waiter or a taxi driver who is doing a little bit of dodgy real estate wheeling and dealing on the side.
Safe Property Invstment but also great golfing destination - Turkey
And there are other reasons why checking out properties in Turkey with a view to buying might be an even better idea now: As Turkey is outside the Eurozone prices of properties in Turkey can be substantially cheaper than one might expect. And for the sporting amongst you, Turkey has recently been declared “Best Golf Destination of the Year - Europe 2008″ by the International Association of Golf Tour Operators (IAGTO).
Now, this is likely to provide a welcome boost to tourism and thus attract greater rental revenue for owners of holiday homes such as villas nearly golf courses in Turkey.
Not to mention an increase in property sales in Turkey.
Hilton Garden Inn to open its first hotel in Turkey
Hilton Hotels does not open a new hotel in just any country. So the fact that the Hilton hotel Corporation has chosen to construct a new facility in Turkey is a good indication that the economic future of Turkey is strong and set to be so for the foreseeable future.
The company has entered into a management agreement with Amplio Gayrimenkul Yatirim ve Gelistirme Anonim Sirketi (Amplio) to open its first Hilton Garden Inn location in Diyarbakir, Turkey, scheduled to open in December 2009.
This agreement forms part of a non exclusive Strategic Development Alliance between Hilton and Amplio which plans to introduce some 15 Hampton by Hilton and Hilton Garden Inn hotels, all of which Hilton expects to manage.
“We have identified Turkey as a key development market where we believe there exists significant growth opportunities for the hotel sector across the country for our Family of Hotels,” commented Wolfgang M. Neumann, President of Hilton Hotels -Europe. “With eight hotels in Turkey already - seven Hilton hotels and one Conrad Hotel - the introduction of the Hilton Garden Inn brand will be the perfect fit to fulfil demand for quality mid-market accommodation in this sector.”
According to Adrian Kurre, senior vice president -brand management for Hilton Garden Inn, “We look forward to launching the Hilton Garden Inn brand in Turkey and introducing our key brand attributes like the Garden Sleep System bed, Herman Miller Mirra chair and complimentary Wi-Fi in guestrooms and public space to both business and leisure travellers looking for a new kind of lodging option.”
Hilton Hotels: Property Investment in Turkey Market means property prices are about to rise again
Located in the south east of the country, the city of Diyarbakir has a population of more than one and a half a million people and is one of the main industrial centres of the region. Just a short drive from both the city centre and the airport, the new 150-room Hilton Garden Inn Diyarbakir will be centrally situated near a large shopping mall and residential complex. Savy investors might like to piggyback on the success of the Hilton brand and look to buy property in Turkey close to the sites of the hotels. After all, a nearby boutique hotel or some villas for rent in the nearby Turkish resort would be an ideal way to make your Turkish property investments work for you.
The founding shareholders and board members of Amplio, Mr. E.W.Graebner and Mr. Alaeddin Babaoglu added: “Today is a historic day for us as we cement our recent alliance with Hilton and move towards the introduction of our first joint venture.”
All indications that the property economy in Turkey is set for further growth. Which is good news for everyone.
