News from Turkey – Turkish News summer 2007

Investment in Turkish Property Set To Double in 2007

29 July 2007
Over $2 billion from abroad was invested in Turkish real estate last year with this figure expected to double in 2007. 'The affordability of Turkish property, with prices significantly lower than established markets such as Spain, is a major attraction,' says Dominic Whiting, editor of the Buying in Turkey guide.
Taken from Homes Worlwide >>

’False’ Real Estate Agents in Turkey

24 July 2007
It is a fact that the increase in foreign investors has prompted even former grocers to jump into real estate. These people generally have no offices or commercial license though they pretend to. Additionally they have no experience dealing in the property market.
Taken from Today’s Zaman >>

Dalaman next hot spot for investment property in Turkey.

14 July 07
Dalaman has been acknowledged as a top tourist area by the Economist - from the 18 billion US $ being invested into the tourism sector, 3 billion is being dedicated to the new terminal at Dalaman International airport which should be is completed by September, the three planned marinas and the 18 hole golf course – all of which will ensure exceptional capital growth in the area. Plans for a number of quality hotels and new developments in Dalaman make this the perfect area for investment property in Turkey.
Property Dalaman >>

The property market in general in Turkey has been described by Business Week magazine as one of the hottest in Europe.

Turkish Mortgages

27 June 2007
Although mortgages have been available recently in Turkey, interest rates are relatively high (5.90 – 6.1%), and the term of the mortgage has been restricted to a maximum of 15 – 20 years, depending on the amount borrowed. As from the beginning of next year, purchasers of Turkish property will be able to apply for mortgages over a 30 year term, enabling many more investors to buy property there although currently non-status loans will not be available.
Taken from Homesworldwide, Mortgages >>

Turkish Property Market

30 May 2007
The property market in Turkey is emerging as a popular destination for British investors, one expert believes. Michael Johns, writing for rightmoveabroad.com, states that Brits have Turkey "fixed in their sights" and says the fact that over 13,000 people have already bought a property is proof of this....
Taken from Property Showroms >>

Turkey's EU ambitions backed by World Leaders

30 May 2007
Turkey's prospects as a site for property investment have been bolstered by a show of support for the country's entry into the European Union by a number of world leaders. With a number of recent EU entrants benefiting from stronger trade links and an upturn in tourism, many observers believe Turkey could be the next to capitalise on the expansion of the EU.
Taken from Ready 2 Invest >>

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