IDEAL Real Estate News
The Telegraph / United Kingdom: As the weather cools, more of us are tempted to buy abroad. But will it be a Turkish bargain or 5-star Goa?
21.09.2007
Thursday 20th September 2007 UK Broadsheet The Telegraph joined it's voice to the media chorus emphasising the investment opportunities unfolding on the Turkish Riviera especially in and around the city of Alanya located on the Med coast of Turkey.
The Telegraph notes the fact that the new International Airport situated in Gazipasa about 20 miles form Alanya city centre meaning a trip of about 20 minutes. That places Alanya well within the 1 hour and 60 mile time and distance radius for property investors hoping to benefit from the upsurge in rent potential of this region.
Alanya/Gazipasa International Airport will open up this beautiful region of Turkey to many new visitors including property investors searching for new challenges in the emerging markets. Additionally the Telegraph commented: "This is good news for British buyers who have been showing increasing interest in the region."
The Sunday Mirror / United Kingdom: IS TURKEY THE NEW SPAIN?
17.09.2007
The Sunday Mirror reported Sunday 16th September that Turkey is the New Spain with readily available and affordable beach front property on the Mediterranean Coast.
SEARCHING for that dream home in the sun but can’t afford Spain? Then why not take a look at Turkey?
The country at the eastern end of the Med is becoming increasingly popular with Brits buying abroad, with 17,000 homes now under UK ownership. And with apartments costing as little as £20,000 and the sun shining for more than 300 days of the year, it’s easy to see why.
The trend shows no signs of letting up, with bargain hunters searching the Mediterranean and Aegean coasts for affordable places in golf and beach resorts. And with massive investment in airports, hotels, marinas and tourist hotspots, some property experts are predicting Turkey could soon overtake Spain as Brits’ favourite spot for a holiday home. The most popular area is the coastline between Kusadasi in the north and Alanya in the south-east, which includes the resorts of Bodrum, Marmaris and Izmir.
Bodrum, one of Turkey’s largest and most cosmopolitan destinations, has long been popular with buyers. The bustling harbour town of Kusadasi and Altinkum, with its stunning beaches, are both rapidly-growing resorts where prices are still competitive. Michael Johns, of agents the Right Move Abroad, says: “Altinkum has the nicest beaches in Turkey and demand will only increase with two new golf courses planned in the area and a marina to be completed by 2009.”
There are also ambitious plans for Dalaman, including new golf and leisure resorts close to the airport. One of the downsides of this popularity is that flights have been hard to find recently – although one of the major no-frills airlines is planning more routes to Turkey and a new international airport opens in Alanya next year. Not everyone is talking up Turkey, however, and a few agents believe some resorts have the same problems as parts of Spain. There is already talk of oversupply in some areas, cheap-looking apartments and arrests of town officials for approving illegal planning permissions.
And when it comes to paying for your home, British buyers will find it far easier in Spain. Most who buy in Turkey either pay in cash or borrow from the equity on their UK home rather than take out a Turkish mortgage. A spokesman for NatWest International says it has no plans to lend on Turkish homes as yet.
“Spain continues to be No1 and we’re 20 per cent up on mortgage inquiries there since last year,” he adds. “Turkey is maybe Spain 20 years ago, where cheap deals were available. But I wonder if buyers know how safe they are when putting down deposits.”
Things are set to get better, with a new mortgage law in Turkey opening the doors for British buyers to borrow money locally. Spot Blue, an agent in the resort of Fethiye, says come January there should be no problems. “In fact,” says spokesman Julian Walker, “British buyers can already borrow from two Turkish banks right now.”
Popular hotspots
-Kusadasi: Up-and-coming harbour town, near Izmir airport.
-Bodrum: Great nightlife, close to smaller resorts.
-Altinkum: Beautiful beaches, close to Bodrum airport.
-Alanya: Big expat community, good beaches.
-Kalkan: Attractive friendly resort, growing rapidly.
-Dalaman: near airport, plans for golf and leisure resorts.
‘We were priced out of Costas’
HIGH prices on the Spanish Costas left Steve and Ann Jackson wondering where to buy a holiday villa… until friends told them to try Turkey.
“We’d never even thought of Turkey but when we got to Kusadasi we found the people really friendly and we loved the lifestyle,” says Ann. “It’s got a harbour, markets and one of the best sunsets I’ve seen.”
The couple, who work on the construction team at Heathrow’s new Terminal 5, say when they took their daughters, Kelly, 11, and Lauren, 10, to their new three-bedroom villa they absolutely loved it. The Jacksons have bought next door to friends at The Green Village, a mile from the beach and a short drive to Kusadasi town.Facilities include pools, a fitness centre and restaurant. Steve says: “Being in the building trade I was expecting to trash their workmanship but I was amazed at the high quality.”
Turkey: Europe’s most attractive real estate market
04.07.2007
The London-based Global Property Guide (GPG), a respected consultancy group preparing analyses and research on global property markets, determined recently that Turkey has one of the most attractive property markets in Europe.
The GPG published its research in June to assess the property markets across the European continent. Topping the list was Slovakia, followed by Turkey, Bulgaria, Romania and Hungary. The recent reforms in Turkey have revitalized its economy with the property sector in particular performing well enough to demonstrate astonishing potential. The study noted that interest rates for home loans have started to decrease recently as a consequence of the mortgage law. The report added that it seems likely Turkey’s position near the head of the list will be strengthened in the coming years. The report expressed that Istanbul and coastal areas in southern Anatolia are especially in demand by foreign investors. The last two years witnessed a considerable flow of money into these places, it said.
According to the report, features making Turkey one of the most alluring markets were its stunning gross national product (GNP) growth rates over the past five years, a reformist government and impressive housing market dynamics. Despite no capital gains tax, prices are a little high in Istanbul and the law is mildly pro-tenant, the report said. “However, coastal areas probably deserve a better rating than Istanbul,” it said.
For Slovakia on the other hand, the report assessed that housing prices are inexpensive and gross domestic product (GDP) growth has recently become strongly positive, with no increase in inflation. “Rental income tax is low, there is no capital gains tax on long-term property holdings and round-trip transaction costs are low,” it claimed. GPG officials noted that British investors have leaned most toward Turkish property markets in recent years. Particularly since the first half of this year, property investors have put Turkey at top of their priority lists.
With respect to investment in the property market, they were inclined to invest in countries with high growth potential like Turkey instead of “conventional markets” which have lost most of their appealing profit margins.
Land prices in Turkey’s coastal areas are much cheaper than their counterparts in other Mediterranean countries, but they will probably rise during Turkey’s accession process to the European Union, the report predicted. Also suggested was that land and houses along the shore will increase in value by 50 percent next year and by 100 percent in the middle term.
The report claimed that Turkey had enjoyed huge improvements in its tourism infrastructure along with increased transportation alternatives, in parallel with its extraordinary economic performance. It also advised its readers to invest in Turkey’s tourism because Turkey has a longer summer season than its rivals in Europe, has more suitable natural and climatic conditions, is cheaper and has the appropriate infrastructure.
IDEAL opening a branch office in Antalya
21.06.2006
Europeans’ interest for buying second home in Turkey increasing everyday. After all enquiries by our customers, we have decided to establish our company branch office in Antalya now. Antalya is a major holiday destination in Turkey and it is very close to International Airport of Antalya and the golf paradise Belek. From our branch office, we will be able to offer you properties in Antalya, Lara, Kundu and Belek. Soon you will also find these properties at our website. Keep checking for special offers.
Law enabling the Danes to own property in Turkey is totally clear now!
29.03.2006
We are happy to express this news to all our Danish customers that Alanya Tapu (Skøde) Office has received the official documents from Ankara, regarding the new regulations. New regulations allow the Danes to own property in Turkey after obtaining a residence permit or a work permit at least for 6 months. IDEAL will help all IDEAL Customers to obtain residence permit and complete the formalities for obtaining the title deeds. Do not hesitate to contact us for further information.