13. Reasonsto buy property in Turkey It’s time to buy property in Turkey. Why? It’sveryeasy, because: ◊ It has fantasticclimate, charmingtownsandvillages, golden beaches, a stunningmountainbackdrop, wealth of historyandfriendly, hospitablepeople, over 300 days of sunshineeachyear, andallthisjust a couple of hoursflightfromEuropeancountries. Turkey is becomingmoreandmore popular forEuropeanpeoplebuyinghomes in theMediterranean. ◊ In 2003 Turkey has liberalizeditsrealestate market forforeignbuyers. Nowmorethan 40,000 estates in 70 Turkishcitiesareownedbyforeignersfrom 64 countries. Almost 5,000 foreigninvestorsarenewtothe market. Citizensfrom 87 countriesqualifyto buy withoutapprovalbythelocalauthorities. Citizensfrom 24 othercountries can purchaseonlybuildings but not land. Germans, British as well as Dutch, French, SyrianandAmericancitizensarealso at the top of thelist of nationsinterestedto buy in Turkey. ◊ Themainexplanationfortheopening of theTurkishrealestate market is thecountry'sbidtobecomeEuropeanUnionmember in theyearstocome. One of thereasonswhyforeigninvestorsshouldconsiderTurkey as an option, accordingtomostlocalagents, is thatprices in thecountryaremuchlowerthan in EU in average. Depending on theareaprices as low as $25,000 for an apartmentand $50,000 for a housearen'timpossibletofind. WhenTurkeybecomes EU memberprices of Real Estatewillmostlikelyriseto a levelneartotheEuropeanlevel. Thepotentialforreturns on investment in thisareaareenormous. ◊ Thelowcost of living, which is muchlowerthanmostotherEuropeanCountriesandthelowcrime rate. ◊ As a Europeanyou can purchasewithcompletesafety, as theconveyance is easyanduncomplicated. 25.04.2010
64. Turkey is a ‘Prime Destination’ forInvestment Turkey has beendescribed as a "prime" destinationforpropertyinvestment. Turkey'sinfrastructure has evolvedtoprovideforeignbuyerswiththesupportandaccessnecessaryfordevelopmentopportunitiestobecomeattractive. TheTurkishgovernment is focusing on developingthecountry'stouristindustrytoreach 15% of itsGrossDomesticProductbytheyear 2020. Turkey’sinfrastructure has madethisdestinationmoreaccessible, withnewroadsandenlargedairportsbeingbuiltandexistingroadandairroutesbeingexpandedand has madeproperty in Turkeymore popular. Thispopularity is nowevident in Istanbulwherehomepriceshavebeenincreasingsteadilyfor a number of months. Theseriseshavebeenunderpinnedbyhightouristnumbersand a stableeconomy, as well as effortstokeepinflation in check. 25.04.2010
65. Turkey’sforeignminister has recommended his top choicesforinvestmenthotspots in accordancewithTurkey’sTouristDevelopmentRegions, theseareasincludeCesme, Dalaman, Didim, Antalya, Manavgat andOymapinar. WithTurkeyexperiencingunparalleledpublicityforitsrapidlygrowingtourismindustry, this has helpedandcontinuestofuelthemassivedemand in propertysales. This is set tocontinuewithTurkeyrapidlybecoming a dominant competitor in theinternationaltourism market. Theareaaround Dalaman is particularly popular amongstTurkeyproperty investors as theTurkishgovernment is improvingthetourisminfrastructure in an attempttomakethisareaone of Turkey’s top touristattractions. Thisinvestmentincludestheexpansion of Dalaman airport, thebuilding of three marinasandthearea’sfirst golf course. As thisinvestmentprogramme is only in itsearlystages, propertypriceshave not yet reacted. This is certainly an area of greatpotentialtopropertyinvestors 25.04.2010
66. TurkishPropertyvaluestodouble: Propertyvalues in Turkeyare set todouble in thenextthreeyears as thegovernmentcontinuestomakeimprovementstoencourageinvestment, a propertysectorexpert has predicted.Inthelasttwoyears, propertyvalues in Turkeyhaveincreasedby 40 percent, but accordingto New TurkishProperties, thefigurewilldoublebeforetheend of thedecade.TheTurkishgovernmenthaveandcontinuetosupportthegrowthbybuildingnewroadsandmotorwaysandincreasingthenumber of charteredflights in toandawayfromthecountry. TheTurkishGovernmentarealsoofferingfantasticinterestratestopeoplebuyingproperty in Turkeyandwiththeadvent of off-plan mortgagesalsobeingencouragedforthelaterpart of 2007, theproperty market is set toexpandandcontinue. TurkishPropertyMortgagesAvailable Turkey has beentippedtobecomethenextpropertyhotspotthankstotheintroduction of mortgages in October 2006. Mortgageswereonlyintroduced in Turkey a quarter of a yearago, but insidersarealreadystatingthattheeffectthis is having on propertythere is extraordinary. PropertyexpertAssetzhavestatedthatcapitalgrowth on homesanddwellings in theMiddleEasternnation is strong, as is demand. Withmortgagesintroduced at completiverates of 5.9% percentwhichwillonlyencouragedemandforholidayhomesandinvestmentproperty market Nowthecountry has beentippedbyseveralexperts as thenextbigemergingpropertydestinationforBritonsandotheroverseaspropertybuyersandwiththeintroducing of 80 percentloan-to-valuemortgages, investorsandholidayhomepurchaserswillnowfind it mucheasierto be abletogetthemselves a property in thesunnyclimes of Turkey. 25.04.2010
67. Turkey is joiningtheEuropeanUnion On October 3rd 2005, TurkeystartedthelongroadtojoiningtheEuropeanUnion. Predictedbytheend of 2015, accordingtotheEuropeancommission’sagriculturereportthatdealswithfarming, Turkey is assumedto be an EU memberstate in eightyears time, addingthatitsagriculturalproduceequatestothat of thelast ten nationsthatenteredtheunionbeforeRomaniaandBulgaria. Becausetheroadto EU membership is goingtotake time, meanstherearestillanother 5-10 yearsbeforepropertypricesraisesubstantially. Priorto EU membership, therearemanyfactors yet to be discussedandmany of Turkey’sissuesthatneedto be correctedbeforeincorporationwill be seriouslyconsidered. HoweverTurkey has somestrongbackersforitsentryandwhen it doesgetacceptedintothe EU, it is reasonabletoexpecttheprice of propertytorisegreatly in linewith a hugesurge in tourism. SeriousInvestorslookforkeyindicatorswheninvesting in propertyworldwideandjustone of thoseindicators is theEuropeanUnion. Theyarelookingforindicatorsthatwillincreasesteadygrowth. Joiningthe EU in thefuture is a major step tofinancialsecurity in thecountriesproperty market. 25.04.2010
68. Is thePropertyBoom in Turkey? Withtheindicatorsshown on thispage, it’sverylikelytopredictthatTurkey is at thebeginning of a "propertyboom". Growth in propertyprices can be triggered in twoways, undervalue of propertyordemandoutstrippingsupply. Boththesefactorsarepresentlythesituation in Turkeyespecially in themajorinvestmentareassuch as Antalya, Istanbuland Dalaman. Real estateandmoneymanagementexperts at JonesLangLaSallehaveclaimthatTurkey is amongtheleaders in €26 billion (£17 billion) worth of investment in property. JeremyEddy of JonesLangLaSalletoldtheLondonStock Exchange (LSE) that "investorinterest is movingfurthereast" leadingto "thefirstmajortransactionstakingplace in Turkey" andotherparts of EasternEurope. Investment in Turkeyduring 2006 rose 77 percent on 2005's figuresandduringthelastquarter of 2006 some €10 billion (£6.6 billion) waspumped in, 40 percent of theannual total. Thesefiguresarestrongindication of increasingpopularityanddemandforEuropeancommercialproperties, attracting a growingnumber of investorsyear-on-year. Thecurrentattractionforinvesting in property in Turkey is thecurrentvalueformoney. TheTurkishproperty market stilloffersexcellentqualityproperties at pricesthatmostotherlocations of a similarcalibrecould not offer 10 yearsago. Theseprices, combinedwiththeoutstandingexpectedgrowthandpoweredbystrong market drivers, offerpropertyinvestors a uniqueopportunity. 25.04.2010
69. TurkishTourism Market During 2005, the rate of tourismsaw a 29 percentgrowth in thenumber of arrivalstoTurkeyshores. Incomingtouristreceiptsalsoamountedto US$11.9 billion (£6 billion) in 2005. Withover 25 milliontouriststovisitTurkeyduring 2007, this in turnwillboasttheTurkishproperty market. A majorindication of thecurrentstate of anyproperty market is thetouristtrade. InTurkeythetourist market has beentherewiththeGermans, BritishandRussiansformanyyearsandnow is seekingunprecedentedgrowth as thecountrygainsmoreexposure in theinternationalpress. Thepossibility of Turkeybecoming an EU membercountrywillreinforcethisexposure in theworldproperty market place. CurrentinvestmentdemandforTurkey’spropertymarkets is alsoreflected in the 25 milliontouristspredictedfor 2007. Thistranslatesintosolidrentalyieldsby buy-to-letinvestorswhopurchase in thebesttouristlocations. The golf region of Turkey is locatedwithintheTurkishRiviera, on theMediterraneancoast in Antalya, withover 11 championship golf courses, includingtheColinMontgomeryandNickFaldocourse, withBernardLanger set tofollow. The Antalya region is set tobecomethehottestplace in Turkeyfor golf propertyinvestmentsand buy toletrentalopportunities. No otherregion has seenmassiveincreases in TouristnumbersandpropertygrowththantheTurkishRiviera. Championship Golf has been a effective market driver in manysuccessfulpropertymarketsaroundtheworldformanyyears. Spain has used golf togenerate a verystrongsecondaryseasonwiththousands of golfersflockingtoitsshorestoplay golf during a time whentheycan’tplaytheirsport at home. With golf beingso popular aroundtheworldmanydevelopmentsarenowbeingconstructedaroundorneargolfingfacilities. Turkeyandnamely Antalya is no different. AvoidCapitalGainsTax Turkeyalsoofferssometaxincentivesthatare of highinteresttopropertyinvestors, such as itsregulationsregardingcapitalgainstax. Ifyousellyourpropertyafterfouryears, there is no capitalgainstax. Propertythat is soldbeforetheperiod is overwill be charged at thestandard rate of incometax (between 15% and 35%), calculated on thedifferencebetweenthebuyingandsellingprice. 25.04.2010
70. TurkeyEconomicOverview TheTurkisheconomycontinuestostrivetowardsmorerobusteconomicstability, whichwasunprecedentedfor at leastthreedecades. Macroeconomicindicatorsshowthateconomicstabilityandstructuralreformsimplemented since the 2001, gaininggroundandpayingoff in terms of –amongothers - fiveyearuninterruptedgrowth, huge FDI inflow, pricestabilityandincreasedtradevolume. PriceStability Theinflation rate whichwas 63.5 percent in 2001, has beenreducedto 9.65 percent in 2006. Sustainablegrowth TheTurkisheconomywhich had a minus 9.5 percentgrowth rate in 2001, had growthrates of 7.9 percent in 2002, 5.9 percent in 2003, 9.9 percent in 2004 and 7.6 percent in 2005. Inthefirst nine months of 2006, a growth rate of 5.7 percent has beenrealized. Turkey has beencontinuouslygrowingoverthepast 19 quarters. TheEconomicfactorsthatmake ‘Investing in Turkey’ worthwhile. PropertypricesarestilllowerthanequivalentEuropean hot spots Cost of living is 1/3rd of that in the UK Theprocessforincorporation of Turkeyintothe EU has started. TheMediterraneancoastoffers an allroundseasonforgoodholidayrentalopportunities. Excellentpropertyinvestmentgrowth is predictedwithholidayoperatorsandairlinesincreasingcapacity. Lowpropertyacquisitionandongoingtaxes Fastestgoingeconomiesattractinglargecorporateinvestments Rich in culturalhistoryandancienthistoricalruins Excellentroadandairnetworksprovidinggoodinfrastructurearoundthecountry Turkey has some of Europe’sattractiveandstunningbeachesmaking it a very popular holidaydestination Voted 3rd in the A Place in the Sun televisionprogrammeto buy property (2005) and 4th most popular as a destinationbythe A Place in the Sun reader (2006) 25.04.2010
76. Golftalya gayrimenkul yatırımdanışmanlık şirketi tarafından avrupanın en büyük devre mülk uzmanı şirketlerinden biri ile tanışmanız ve işbirliği yapmanız sağlanacaktır. 25.04.2010
81. 25.04.2010 KKTC'de golf ambargoyu deldiGolf Federasyonu Başkanı Ahmet Ağaoğlu, geçen hafta sonu KKTC'nin Esentepe bölgesinde yeni açılan Korineum golf sahasında uluslararası bir turnuva düzenlediklerini bildirdi. Böylece Kıbrıs'a yönelik ambargonun delindiğini belirten Ağaoğlu şunları söyledi:"Turnuvaya Güney Kıbrıslı, Türk, İngiliz ve Kuzey Kıbrıslı oyuncular katıldı. Birincilik kupasını Güney Kıbrıslı oyuncu kazandı. KKTC Cumhurbaşkanı Mehmet Ali Talat'ında katıldığı ödül töreninde ambargonun çok ciddi şekilde delindiğini, hatta patladığını söyledim."Ağaoğlu, Korineum golf sahasının dünyada çok az bulunan bir özelliğe sahip olduğunu ifade ederek, "Sahada bulunan 18 delikten de deniz ve dağ manzarası görülebiliyor. Tesiste ayrıca, ABD'den ithal edilen 'SeashorePaspalum' tipi genetik yöntemlerle yetiştirilen çok az su gerektiren özel çim kullanılmış. Bu sahada 12 ay golf oynanabiliyor" dedi