Turkey

Turkey Area Guide
 

Turkey is a paradise of sun, sea, mountains, and lakes and offers a complete change from the stress and routine of everyday life. From April to October, most places in Turkey have an ideal climate that is perfect for relaxing on sandy beaches or enjoying the serenity of mountains and lakes.

Since the beginning of history Turkey is a country which has a magnificent past having been the home of 13 successive civilisations and it is full of historic treasures spanning 10,000 years. It is difficult to find another country where one civilisation leads to another.

Turkey is the gateway to Europe and Asia and is a continent at the heart of the oldest continents on earth and a bridge between ages, nations and civilisations. It is a unique country linking East to West and offering past and present as history and geography live side by side.
It is a bi-continent country, covering an area of 814,578 sq km of which 790,200 sq km are in Asia and 24,378 are in Europe. The European part of Turkey is called Thrace, while the Asian part is called Anatolia or Asia Minor. It has a population of about 70,413,958 and has a coastline of more than 8,333 km.

Turkey borders 8 other countries with Bulgaria lying to the northwest, Greece to the west, Georgia, Armenia and the Nakhicheven exclave of Azerbaijan to the northeast, Iran to the east and Iraq and Syria to the southeast.

Turkey straddles the Bosphorus straits that separate South west Asia from South east Europe. Anatolia lies between the Black Sea on the north and the Mediterranean Sea to the south, with the Aegean Sea and Marmara Sea to the west.

Turkey is separated into seven geographical regions these being, Black Sea region, Marmara region, Aegean region, Mediterranean region, South eastern Anatolia region, Eastern Anatolia region and central Anatolia region.

Turkey is a colourful and diverse country with landscapes ranging from snow-capped mountains to oak and pine forests, wide green meadows and large lakes.

Turkey has become a major tourist destination in Europe in recent years with quick development for both summer tourists around the Mediterranean Sea and winter ski resorts Uludag. Turkey has something to offer everyone.

It is a big country with many climatic zones. You can be skiing down the slopes in the Eastern Anatolia area whilst others ski on the water along the Mediterranean coast. The Mediterranean, Aegean and Marmara regions have a typical Mediterranean climate with hot summers and mild winters.

Ninety-nine percent of the population of Turkey is Muslim but it is a secular state that assures complete freedom of worship to non-Muslims. The Turkish language is spoken by 90% of the population.

Turkey has very rich folkloric traditions which have been kept alive for centuries due to the characteristics of Turkish people.

Turkish Baths symbolise the Turkish way of life. Since Medieval times there have been public bath houses due to the emphasis placed upon cleanliness and they are an unforgettable experience. for more information about Turkey please go to www.turızm.gov.tr

Turkish cuisine

A distinctive feature of Turkish home cooking is that you start with the cooking of the meat and gradually add all other ingredients. At the end of the cooking you have completely finished the course in one saucepan. This method saves time, especially if you work from scratch. Although Turkey is a small country, there is a difference in cooking traditions between its northern and southern parts.

Typical Turkish cuisine consists of plenty of fresh vegetables, eaten raw, roasted or stewed with meat in terracotta pots with lots of garlic, onions, oil and spices. Turkish cuisine combines Mediterranean, Caucasian and Arabic influences. Lamb is the most important meat, also used are chicken and beef. Eggplant, onion, lentil, bean, tomato, garlic, and cucumber are the primary vegetables. The main staples are rice (pilav) and bulgur wheat, and dishes are typically cooked in olive oil.

A full Turkish meal starts with a soup – often lentil soup (mercimek çorbasi) – and a set of meze appetizers featuring olives, cheese, pickles and a wide variety of small dishes. The main course is usually meat – Turkey’s best known culinary export is kebab (kebap), grilled meat in various forms, while köfte meatballs are a variation on the theme. There is no restriction on the sale and use of alcohol in Turkey. The famous local anis drink “rakı” is widely consumed in Turkey. Turkish people are very understanding about foreigners’ different customs and they try to communicate in order to help visitors according to their code of hospitality.

Dairy products

Milk: The main way of having milk in Turkey is plain yogurt. In general it is prepared from cow’s milk, but it can be made from sheep milk or buffalo-cow milk, which is thought of as being much tastier than cow milk. Almost everyone in Turkey eats yogurt every day - from the age of 3 months.

Cheese:  Feta (white cheese) which is in two types, cow feta and sheep feta. In Turkey it is most common to use cow feta in cooking and sheep feta to eat.

Vegetables

Potatoes, cabbage, carrots, tomatoes, green peppers, egg plants, cucumbers, garlic, zucchini, pumpkin, onions,  peas, celery, spinach, cauliflower, lima beans, lettuce, radishes, turnip, mushrooms, olives.

Fruits

Cherries, raspberries, strawberries, blueberries, blackberries, apples, peaches, pears, plums, apricots, watermelons, melons, grapes, and quinces

Nuts

Peanuts, walnuts, hazelnuts, almonds, chestnuts.

Spices

Parsley, mint, paprika.

Herbs

Many different, from thyme to milfoil. They are used in cooking and for herb teas.

Typical Turkish Dishes

Salad - chopped tomatoes, cucumbers, onions and peppers sprinkled with feta (Turkish white cheese)

Cacık – a thick creamy yoghurt with chopped cucumber or gherkins, walnuts and garlic
Dolma - roasted aubergines, peppers, loads of garlic and parsley

Mercimek Çorba - traditional lentil soup

 İşkembe Çorba - tripe soup with garlic, vinegar and chilli
 Kavurma - meat and vegetable stew, usually served in individual pots
Güveç - stewed chunks of vegetables and lamb
Köfte - spicy meat balls/ hamburgers;
Adana kebab - spicy mince meat, sausage shaped, grilled.  

Banking in Turkey
Many Turkish banks have ATM'S (automatic teller machines), enabling you to draw foreign currency while you stay in Turkey. If you open a bank account in one of Turkey's banks, you are advised to compare commission rates for money transfer to and from Turkey. In most of the banks in Turkey you will find a few English speaking employees, the best chance is in the foreign exchange section of the bank.

Although Turkey is predominantly a cash economy, the use of debit and credit cards is increasing. The number of client cards issued by local banks reached 2.12 million in early August, up from 1.6 million at the beginning of this year. A total 510,000 new cards were issued in the January-July 2003 period versus 623,000 for the whole of 2002. Local banks issued 8,168 International visa cards and 14,694 master cards by August 1st, 2003. Development of services for consumers, such as debit cards, started within the last couple of years, while personal cheques are almost unknown and unused as a method of payment for locals. However, payment by debit cards is accepted in some of the retail chain of shops and gas stations and is gaining increasing popularity. Cheques and credit cards are used mainly by foreigners.

The Association of Commerce Banks is a body which represents all recognized financial institutions in Turkey, and as such acts as a bond of reputability.
 

Driving in Turkey
The speed limits in Turkey are 60 km/h in populated areas, 80 km/h outside populated areas and 120 km/h on motorways. Petrol stations are located on average every 30 to 50 km. Turkish drive on the right hand side of the road, so ‘Full Beam’ restricting stickers should be placed on any UK originating vehicle prior to departure. It is also advisable to carry an emergency sign in your vehicle.

If your vehicle is stolen while you are in Turkey, you will be considered liable for import duty and related taxes. If you cannot pay, you will have to sign a declaration on departure confirming that you will pay the due amount. We strongly recommend that, if possible, you take out insurance to cover this.

Health

Although some initial emergency medical treatment may be given free, British nationals are likely to be charged for the majority of medical expenses incurred whilst in Turkey (including tests and investigations, medication and overnight stays in hospital, whether state or private).

It is strongly recommend that you take out comprehensive travel and medical insurance to cover the full period you will be in the country, and which also includes medivac to the UK if necessary. (You should be aware, however, that most insurance companies will not authorise medivac to the UK as a matter of routine, or because local hospitals are not up to UK standards). You should check any exclusion, and that your policy covers you for the activities you want to undertake. Facilities in most Turkish hospitals are basic and old-fashioned compared to those in the UK. Standards of medical care are acceptable, although specialised equipment/treatment may not be available, and most hospital staff is unlikely to speak English.

Turkish Property

Turkish Property Offers Great value For Money And Is Popular With International property Investors

Turkey has been very popular as a holiday destination for a long time with around 25 million tourists flocking to the stunning beaches along the Turkish coast each year. The beautiful climate helps to make Turkey a location much in demand. Currently, with the profile of Turkey greatly increased due to a large increase in media exposure, Turkish property is in great demand and Turkey itself is at the start of a predicted property boom. Turkey’s current status as a candidate member of the EU with likely inclusion as a full member in the near future has added to the demand for property in Turkey. Turkish property is currently still very well priced with frontline beach property obtainable at prices that cannot be rivalled in almost any other location with similar assets.

Turkish Property Investment

With its current high value for money, Turkish property is very attractive to international property investors who can see good potential for solid return on investment with Turkish property. In a location such as Turkey with stunning natural assets and with Turkey poised to join the EU which traditionally generates large increases in property values, investors are keen to buy property in prime locations whilst prices are still low. With the huge growth in tourism and already 25 million visitors per annum (up from 14 million in 2004) "buy to let" investors in Turkey have huge demand for their rental accommodation and this demand is set to grow.

Turkish Homebuyers And Holiday Homes In Turkey

Its not just property investors who are showing a strong interest in Turkish property at the current time. Due to the low cost of living and beautiful natural resources, Turkey is also an appealing location for second homes and even a hotspot for relocation. Many people are leaving the so called "rat race" of the major cities around the world and moving to Turkey. The weather also makes Turkey and property in Turkey a popular retirement destination.

Some Reasons To Consider Purchasing A Property In Turkey:

* Turkey is just entering the EU process which means there is still another 5-10 years of European investors interest in property

* Turkey is just at the beginning of a property boom

* Turkish economy is very strong with 5.5% GDP growth in 2005

* Stunning beaches and climate make it a very popular holiday destination

* You can still find excellent front line properties for excellent value for money with high capital growth probability

* Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum

* Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for resale’s

* Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market

* Over 25 million tourists visit Turkey each year boosting the property market and creating strong "buy to let" possibilities

* Low cost of living and long summers make it a favourite retirement spot for the Europeans

* Huge golf tourism evolving in Antalya which will make any investment more valuable

* Life in Turkey is easy and inexpensive

* Turkey offers a modern infrastructure

* Turkey is considered to be a highly dynamic country by the World Trade organisation

* Land prices are on the increase

* No capital gains tax after 4 years

Turkey - Natural Factors

Stunning beaches and climate make it a very popular and well tested holiday destination
 
 Turkey is well known for its stunning beaches and beautiful scenery and has a well tried and tested tourist industry. Turkey, although expanding to keep up with the current level of growth has a very solid infrastructure that has kept its tourists happy for years and so is well versed in what is required from a successful holiday destination.

Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum

The climate in Turkey is second to none and is a huge reason why its tourism market is as popular as it is. The summer sun is very reliable and brings sun worshipers from all over the world to its beautiful coastlines. Temperatures range as the graph to the left shows from around 69 degrees F in April to a very hot 89 degrees F in the mid summer months of July and August. It is not just the outstanding weather that gives Turkey an edge over its competitors; it is also the sheer number of hours of sunshine it enjoys each day. In general Turkey enjoys from 8 hours of sunshine in the low season (April) to a huge 12 hours in high season. Many visitors to Turkey can find it too hot in July and August and prefer to visit in either June or September when the temperatures are still in the 80´s with around 12 hours of daily sunshine still available.

Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for resales. The Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market

 Whilst Turkey is enjoying more and more international investment and property buyers from more and more countries are deciding to buy Turkish property, Turkey also has a huge advantage over other emerging markets. Turkey has a massive population of over 70 million people and as the Turkish economy continues to grow, Turkish people are becoming more able to purchase property, especially with the new mortgage rules allowing the Turks to use finance for property purchases.

With the Turkish population continuing to grow at the rate of 2% per annum, 70% of this population being under 30 years old, new finance laws and possible inclusion into the EU, means that the average Turkish citizen will be generally wealthier and the future looks bright for the domestic Turkish property market and so equally good for overseas investors owning investment property in the very prime locations.


Low cost of living and long summers make it a favourite retirement spot for the Europeans

 

At present being outside of the EU, Turkey offers a very competitive cost of living. This low cost is another driving factor for tourists and also people looking to re-locate who find that their money will go much further in the warmer Turkish environment.

Turkey has many market drivers that make it an ideal location currently for property investment. Here we look at some of the economic reasons why Turkey is one of the world’s hottest investment property locations.


Excellent capital growth predictions of around 25% per annum - Turkey Capital Appreciation Projections


In Turkey over the last two years, land prices have in many cases doubled and in the last year alone property prices have risen by 25 – 40%. Recent research shows that by comparison investments made since 1994 have yielded the following average returns:

Stock market - 18% (gross)
Turkish property - 568% (net)
Pension plans - significant loss (net)

(source: invest-in-turkey.co.uk)

In the opinion of ‘A place in the Sun’ cited in the October 2004 edition of their magazine, the price increase in beach areas is expected to increase initially by 50% and then over the next two to three years 100%.

Taking an average of 25% capital growth, a property purchased at 60,000GBP with sustained growth over five years will have a market value of 183,105GBP. That’s a huge 305% return on investment.

Turkey is just entering the EU process which means there is still another 5-10 years of European investors interest in property with EU inclusion estimated before 2015.

Turkey is currently at the very start of the long road to possible EU inclusion. There are many factors yet to be discussed and Turkey has many issues that need to be corrected before inclusion will be seriously considered. The truth of the matter is that it is expected to take up to 10 years for inclusion into the EU but with some large scale backing, it is something that is 100% possible. If Turkey does get accepted into the EU then it can expect the price of property to rise substantially and tourism to drastically improve even further.

Many investors are purchasing in Turkey with EU inclusion as a major driving force for this investment, looking to take advantage of the current low property prices and growing rental market.

 
Turkey is just at the beginning of a property boom

With so many indicators, many of which are outlined on this page it is clear to see that Turkey is at the beginning of a "property boom". A boom period generally indicates a time when demand for property outstrips supply. This is currently the situation in Turkey especially in the major investment areas such as Alanya, Bodrum, Istanbul and Dalaman.


Turkish economy is very strong with 5.5% GDP growth in 2005

The Economy in Turkey is currently very strong and growing. After an average growth of only 2.8 percent for ten years from 1993 to 2002, Turkey was able to achieve a growth rate of 5.9% in 2003 and substantially higher in 2004. Turkey now has the 22nd largest economy in the world.

You can still find excellent front line properties for excellent value for money with high capital growth probability
 
 What is really attracting interest from international property investors is the current “value for money” property available in Turkey. The Turkish market still offers excellent quality property at prices that most other locations of a similar calibre could not offer 10 years ago. This excellent value for money combined with the outstanding expected growth powered by some of the strong market drivers mentioned on this page offer a property investor a unique opportunity.
 
 
 Over 25 million tourists visit Turkey each year boosting the property market and creating strong "buy to let" possibilities
 
 A major indication of the current state of any property market is the tourist trade at any particular point in time. In Turkey this market is expanding massively as the country gains more exposure and the possibility of it becoming an EU member country slowly begins to take hold.
 
 If a country like Turkey is attracting 25 million tourists per annum then this indicates massive demand for the area. This demand can then be converted into solid rental yields by "buy to let" investors who purchase in the best locations.

Huge golf tourism evolving in Antalya which will make any investment more valuable

Golf has been a strong market driver in many successful property markets around the world for many years. Spain has used golf to generate a very strong secondary season with thousands of golfers flocking to its shores to play golf during a time when they can’t play their sport at home. With golf being so popular around the world many developments are now constructed around or near to golfing facilities. Turkey and namely Antalya is no different.


Turkey offers a modern infrastructure

Many emerging markets have limited infrastructure and this is always a problem that can stunt its development. Turkey however has a solid and modern infrastructure which is rapidly growing inline with the growth of its economy, tourism and property markets. Major airports in Turkey include:

Istanbul (Atatürk and Sabiha Gökcen)
Ankara (Esenboga)
Izmir (Adnan Menderes)
Adana
Trabzon
Van
Erzurum
Bursa
Samsun
Antalya
Dalaman
Milas-Bodrum

Sea Transport: Turkey has 8,430 Km of coastline and 15 principal state-owned ports.

Main ports: Samsun, Haydarpasa (Istanbul), Izmir, Izmit, Trabzon, Mersin, Iskenderun.

Railways: Total length of railways is 10,933 Km of which 2,133 are currently electrified

Roads and highways: The national road network length has reached 62,000 Km of which 1,726 Km are motorways and 55,000 Km are asphalt roads. 95 % of passenger transport and 90 % of the transport of goods is realised via road and highway transport.

Telecommunications:

20.4 million installed access lines of which 18.3 million are in service. (28 lines/100 inhabitants)
84.5 % digitalisation rates
3 GSM operators (TURKCELL, TELSIM, ARIA)
3 telecommunication satellites (TURKSAT-1B, TURKSAT-1C, TURKSAT-2A)


Turkey is considered to be a highly dynamic country by the World Trade organisation

Turkey is a dynamic and emerging country equipped with a network of well developed infrastructure and a globally competitive work force. Its unique position at the crossroads of the world trade routes and its proximity to the developing energy producing areas in the Caspian and Central Asia are factors that further raise its potential for the coming years. Turkey is also home to a thriving tourist industry and rapidly growing property market, attracting huge international interest.


Land prices are on the increase

Land prices in Turkey are said to have doubled over the last 2 years.


No capital gains tax

Turkey also offers some tax incentives that are of high interest to property investors, such as its regulations regarding capital gains tax.

Capital Gains (for an individual)

The rate of standard tax is identical to the rate of normal income tax on the income of an individual; that is from 15%-40%.
A capital gain from the sale of Turkish securities that were held by the vendor for at least 1 year before the date of sale is exempt from tax.

Capital Gains (for a Corporation)

The standard rate of tax for a corporation is 30%.
When calculating capital gains, the purchase price of the asset sold is adjusted in line with the rise in the index from the date of purchase to the date of sale. Capital gains tax is calculated only on the real profit.
On the sale of a depreciable asset, if the assets are held for more than 2 years the capital gain is exempt from tax.

Turkey Economic Overview:

Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronic industries, are rising in importance within Turkey's export mix. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. The economy is turning around with the implementation of economic reforms, and 2004 GDP growth reached 9%. Inflation fell to 7.7% in 2005 - a 30-year low. Despite the strong economic gains in 2002-05, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt. The public sector fiscal deficit exceeds 6% of GDP - due in large part to high interest payments, which accounted for about 37% of central government spending in 2004. Prior to 2005, foreign direct investment (FDI) in Turkey averaged less than $1 billion annually, but further economic and judicial reforms and prospective EU membership are expected to boost FDI. Privatization sales are currently approaching $21 billion.

Turkey - Investment Growth

Capital Growth Estimation

* Estimation below is based on projected Capital Growth for a Alanya based property in Turkey and is only an example based on generally accepted market growth figures.

It has been estimated by many professionals in the field of property investment that the capital growth anticipated for properties in Alanya area over the next 2 years is in the region of 40-50 %

** The projected capital growth is illustrated above at a rate of 40% and is for guidance purposes only.

Buying a Property in Turkey- A Buyers Guide

Below is a summary of the buying procedure for purchasing a property in Turkey. The most important factor is to work with an established agent who can guide you through each step of the process.

Many people buying property in Turkey are buying as an investment, some as a holiday home with the aim of also making a little money and others as a dedicated investment that they may never even visit. It is essential that potential buyers of property in Turkey understand that Turkey is a new country with regards to overseas property.

Buying property in an "emerging" market such as Turkey is very different to buying in a more traditional market like Spain, where millions of buyers already own homes from all corners of the world. In Spain for example the procedures are tried and tested with every notary having huge experience. In Turkey this is not the case and the lack of experience and firm procedure can lead to delays and confusion.

Purchase Through A Reputable Agent

In Turkey there are some potential pitfalls. Huge numbers of properties that do not have titles, planning permission or have simply been constructed illegally. In 2004 the Turkish Daily news reported 600,000 illegal homes in Istanbul only. There are also various types of "title" available in Turkey that basically give you different land rights as the owner. For this reason and the fact that Turkey is new to the overseas property scene it is even more important that you use a quality agent that can guide you through the potential problems.

Identify The Property You Wish To Buy

Once you have found your ideal property in Turkey and have decided that you would like to purchase you can usually expect to follow the procedure below:

Reservation Contract

The reservation contract takes the property off the market, usually for between 2 - 4 weeks allowing time for the appointed legal advisor to carry out the required checks on the property in question. Usually a reservation fee of between €3,000 (euros) and €6,000 (euros) is paid at this point.

If you do not continue with the purchase due to a legal problem then you should contractually be entitled to a refund of the paid reservation fee, although this is not always the case.

If you decide not to proceed due to a change of heart or mind then it is standard that you will lose this reservation fee.

If you decide to proceed with the purchase then the reservation fee already paid is treated as part of the payment towards the property in question.

Preliminary Contract

After the reservation contract is signed and the required fee paid you can expect to be presented with a report containing the findings of the legal checks. If the report is satisfactory then you would then sign the preliminary contract and also pay at this stage the required deposit. On a resale property this is typically 10% and on an off-plan (new) property expects to pay varying amounts around the 30% mark.

If required at this point in the process, the seller is then required to apply for permission for you to purchase a property in Turkey.

With off-plan property purchases in Turkey the buyer may be expected to pay a number of stage payments throughout the construction process.

Completion

Once all parties are ready to proceed or in the case of an off-plan sale the property is completed, the buyer will need to pay the required tax payments and the final contract / Deed of sale (Tapu) is signed. With the signing of this document the land ownership is transferred to the buyer, this is usually undertaken at the land registry office.

Once signed the Deed of sale (Tapu) is registered at the land registry.

Off-Plan Security For Buyers


In Spain and most other countries where full or part payment is made before the property is fully constructed a bank guarantee must be in place to ensure that should the developer go bankrupt before completion of your property, your money is 100% safe.

In Turkey this is not a requirement and due to the early stage of the overseas property market in Turkey and the comparatively immature banking systems such guarantees are either impossible or very expensive.

This makes it extra important to work with developers with proven track records and of substance that can offer quality property and run no risk of running out of capital during the construction phase of a project.

* ALANYA HOME developments in Turkey are provided by very established developers with a proven and established track record.

Turkish Property - Tax  

A guide to the legal costs involved when purchasing a property in Turkey

Other Costs involved

* If property is bought in a complex there is an average maintenance charge of approximately €300 - €500 (euros) per year

* When purchasing property, the buyer will be responsible for paying the water and electricity connection fee.

Turkish Investment Property - The Next "Hot Spot" For International Property Investment

One of the brightest hotspots emerging in the overseas property market has to be Turkey. Property prices are expected to rise if Turkey joins the EU as expected and as the market is in its initial stages of development, similar to Spain some 15-20 years ago, value for money is currently excellent. With tourism increasing drastically year on year, Turkey is experiencing a level of international exposure never before seen and this exposure is having a snowball effect creating more tourist interest and more demand for Turkish property. Turkish property is expected to appreciate in beach areas by as much as 50% initially and then over the next two to three years 100%.

Turkey Investment Strategy

Investors looking at Turkey generally have a similar investment strategy. With EU inclusion possible well within the next ten years and a tourist industry that is booming and expanding at a rapid rate, Turkey offers investors a chance to invest early in a potentially very strong market. Most Turkish property investors will look to buy quality property in quality locations now whilst property prices are as low as they will be and then use this investment to generate strong rental yields operating a strategy benefiting from the huge demand for well positioned Turkish property over the next few years. This will allow the market to mature and property values to appreciate, with EU inclusion being a huge added bonus as this would also add value to property investments in Turkey.

Reasons Why Turkey Is An Intelligent Investment:

Investment Property Turkey- Natural

* Stunning beaches and climate make it a very popular and well tested holiday destination

* Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum

* Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for resale’s

* Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market

* Low cost of living and long summers make it a favourite retirement spot for the Europeans

* Life in Turkey is easy and inexpensive

Investment Property Turkey- Economic

* Excellent capital growth predictions of around 25% per annum

* It has been estimated by many professionals in the field of property investment that the capital growth anticipated for properties in Alanya area over the next 2 years is in the region of 40-50 %


* Turkey is just entering the EU process which means there is still another 5-10 years of European investors interest in property with EU inclusion estimated before 2015.

* Turkey is just at the beginning of a property boom

* Turkish economy is very strong with 5.5% GDP growth in 2005

* You can still find excellent front line properties for excellent value for money with high capital growth probability

* Over 25 million tourists visit Turkey each year boosting the property market and creating strong "buy to let" possibilities

* Huge golf tourism evolving in Antalya which will make any investment more valuable

* Turkey offers a modern infrastructure

* 22nd largest economy in the world

* Convertible currency (Turkish Lira)

* Turkey is considered to be a highly dynamic country by the World Trade organisation

* Land prices are on the increase

* No capital gains tax after 4 years

investment Property In Turkey - Purchase Now To See Maximum ROI
 
 Turkey is on the very verge of becoming a mainstream International holiday destination and the property market in Turkey is also on the verge of being flooded with foreign investors buying the best properties in the best locations. The main reason many investors are holding back from a Turkish property investment is due to the lack of finance available for such purchases currently. The paradox here is that lenders are currently waiting on a law change that will then allow mortgages for Turkish property to become commonly available, as soon as this happens we expect property prices to rise accordingly.
 
 The reality of the situation is that investors who can invest in Turkish property now will secure the best properties in the best locations and at the best prices and will be in pole position to make the most substantial returns

Turkish Property Investment Research

Learn about all aspects of property investment in Turkey by looking at our information & research data below. You can see if property investment in Turkey is a viable option for you and also how to begin your investment portfolio and make a positive start to becoming a successful property investor.

Successfully Invest In Turkish Property

The Turkey property market is continuing to grow from strength to strength and looking forward to possible EU inclusion in the near future. Many property investors are convinced that Turkey is an excellent investment opportunity and that potential returns in Turkey will be higher than alternative locations. It is still very early for Turkey based property investment and Turkey is still classed by most as an emerging property market.

With the Stock Markets generally underperforming and other investment vehicles yielding low returns many international investors are turning to the stable and historically high return property market as a secure wealth building investment.

Advantages of Joining the ALANYA HOME
 
 * Get early Information on New Developments
 * Be 100% sure your Property is ´Investment friendly´ and is rentable
 * Choose from the most lucrative PRE-release developments - Available BEFORE other agents and the general public
 * Receive regular updates on the developments progress
 * Have any query or question answered quickly and intelligently by our experienced personnel
 * Avoid commonly made mistakes - benefit from our experience

Why Invest in Turkish Property

No investment today offers the stability and simplicity coupled with the excellent return offered by investing in property. The stock market can offer high returns but it is a very volatile and dangerous place. This is especially true for the non-professional and there are so many external factors that can effect your financial investment. Add to this the fact that the major stock markets have generally been underperforming and Property investment stands head and shoulders above other forms of investment.

* Turkey is just entering the EU process which means there is still another 5-10 years of European investors interest in property
 
 * Turkey is just at the beginning of a property boom
 
 * Turkish economy is very strong with 5.5% GDP growth in 2005
 
 * Stunning beaches and climate make it a very popular holiday destination
 
 * You can still find excellent front line properties for excellent value for money with high capital growth probability
 
 * Turkish summers are a lot longer than many other EU destinations offering more hours of sunshine per annum
 
 * Turkey has a huge population of 70+ million. This creates a strong internal property market meaning investors are not reliant on international investors for resale’s
 
 * Turkish population growth is around 2% per annum with 70% of the population younger than 30, this creates a strong local market

* Over 25 million tourists visit Turkey each year boosting the property market and creating strong "buy to let" possibilities
 
 * Low cost of living and long summers make it a favourite retirement spot for the Europeans
 
 * Huge golf tourism evolving in Antalya which will make any investment more valuable
 
 * Life in Turkey is easy and inexpensive
 
 * Turkey offers a modern infrastructure
 
 * Turkey is considered to be a highly dynamic country by the World Trade organisation
 
 * Land prices are on the increase
 
 * No capital gains tax after 4 years

If you can not find the information you are looking for or would prefer us to do the searching for you  www.alanyahome.com.tr 

Off plan Property, Turkey

Off-Plan Property In Turkey

Most of the investment opportunities we offer in Turkey currently are off-plan property projects. Buying off-plan allows the property investor to purchase at the best possible price and allow for maximum capital appreciation in good growth areas like Turkey. You can learn how it is possible to create wealth through off-plan property investment in Turkey below.

Buying Off-plan in Turkey at this time allows investors to purchase property in areas that will attract major rental demand and price appreciations at the lowest possible prices and with the best possible who purchase our selected quality developments early will see the greatest returns on their investment.

Investors buying property in Turkey usually look to follow the model, by purchasing a Turkish property then seeking to rent the property to the growing numbers of tourists for solid rental yields. During this period the investor will expect the property value to continue to increase and the value of their investment to rise substantially.

How can property be cheaper if bought off-plan – How does it work?

Maximizing Profit From An Off-Plan Investment In Turkey

1) Purchasing early
When the developer is offering units well below market value for the reasons mentioned above. In Turkey it is also important to buy as soon as possible as the market is in its early stages of development and prices are still very competitive but already rising. Investors who invest now will see the greatest profits.


2) Purchasing the best units
As our Investors are aware early they can purchase the most sought after properties on any given development. This varies from development to development depending on the details of construction. Penthouses are often favourites. The best units always offer higher capital appreciation in the least amount of time and can demand the greatest rental income.

3) Price increases as development matures
As the development begins to be constructed the units value raises. There is normally a completed show home at this stage so buyers are taking less of a risk as they now do not need to rely 100% on plans.

4) Price appreciates as more units sell
As more and more units are sold the price of the remaining units will rise. This is due to the buyers being able to see current units as mentioned above, often there is a Phase payment structure which mirrors the increasing value of the properties. Obviously to the early investor this means that should you decide to sell your property it will be worth considerably more at this stage than when you made your initial purchase and paid your deposit.

Buy to Let (Example Only)

Case Study
 
 John decides to purchase an investment property and after contacting ALANYA HOME and discussing his requirements with our investment experts, he decides that the "Buy-to-Let" investment strategy is for him.
 
 John has savings of around €80,000. (euros)
 Our investment advisors suggest property development X which has been vetted by the ALANYA HOME as a solid investment opportunity and meets with John's deliverable criteria.
 
 Investment property X is a new development with beautiful sea views and priced at €250,000. (euros)
 
 Initially John pays his reservation fee of €3000 (euros) to hold the property.
 
 Next John pays a 30% deposit of €75,000 (euros) minus his €3000 (euros) reservation fee already paid
 
 Our investment specialists negotiate a mortgage for John for the remaining €175,000 (euros) at a rate of 2.75% (example only), this translates to a monthly mortgage repayment of €481.00 (euros) (interest only) which is equal to €5772.00 (euros) over 12 months.
 
 John starts to rent his new property immediately and during the 3 months "High Season" he receives €2000 (euros) per month in rental income. These rental payments exceed his annual mortgage repayments and still leave John with 9 months of rental potential to make a further profit.
 
 If we assume that average rental rates for Johns new property are as follows (conservative figures):
 
 High Season - €2000 (euros) Per Month
 Low Season - €1300 (euros) per Month
 
 Now we assume that John decides to go on a short term rental strategy maximizing his income over the High Period. He easily rents his property for 3 Months during the high period earning €2000 (euros) per month. After this period he has a delay in getting his next tenants but over the course of the year he rents his property for a further 6 Months only.
 
 3 Months x €2000 (euros)
 6 Months x €1300 (euros)
 
 Total Rental income = €13,800 (euros) after subtracting the €5,772 (euros) Mortgage repayments John has made a profit of €8,028. (euros)
 
 * During this example we have not included any rental management or community fees that may apply but also we have only assumed rental income for 9 months of the year and with many holiday makers now booking private accommodation via the Internet this is very achievable.

Short-Term letting v Long-Term Letting

The final decision to be made by the "Buy to Let" Investor is which letting strategy to use. It is obvious that the highest income is made by the property owner by letting out short term during the high season. However you can off-set this against the increased overheads in constantly finding short term rental clients and the maintenance costs between clients. Long term rentals typically pay less on a month on month basis but usually require far less input from the property owner and the rental income is fixed over the course of the year. Some property owners choose to rent long term during the low season and then short term to higher paying holiday clients during the high season. The decisions to be made on your letting strategy are usually answered in part by the property you purchase. Some properties lend themselves to short term holiday makers and others to long term locals as a permanent home. Our experts will help you decide what's best and choose the property and rental strategy that's best for you.
 
 The "Buy to Let" Strategy is not ideal for EVERY investor and it is essential that property for this strategy is chosen wisely as it needs to be a rentable property in a popular location to allow the investor to maximize income from the Investment.
 
 The other benefit from this type of Investment is that during the time this property is being rented and earning the Investor an income and holiday home it is still appreciating in value at one of the fastest rates available. All in all the "Buy to Let" Investment model is a sound investment decision and Turkey is currently an ideal location to deploy this

Pure investment Turkey

 The pure investor is an un-emotional investment property buyer who is purely seeking maximum short term return on capital within the safest investment market in history. Their investment vehicle is the purchase price but the investment involvement is typically only 10 - 30% of the purchase price.
 
 During the development period the developer is likely to increase the development unit’s sale price several times in phases. These price increases inversely mirror the developers risk, as the development matures the developer's exposure diminishes and so they can charge more for their product with each passing stage. Also for the buyer they can see physical progress, get a feel for the property and rely less and less on architect drawings and graphical impressions when making the decision to purchase the property - but pay extra for this luxury
 
 To the "Pure" Investor this creates an excellent investment opportunity. When buying into the development at the earliest stage possible the Investor can benefit from each of the phased price increases showing a profit gain of 30% - 40% (assuming 3-4 phase price increases each of 8% - 10%).
 
 The pure Investor then seeks to re-sell his investment bought early at the best possible price just prior to completion to a secondary buyer who typically wants to live in or rent the property.

Case Study (Example Only)
 
 John decides to purchase an Investment Property and after contacting ALANYA HOME and discussing his requirements with our investment experts he decides that it is purely a wealth building exercise and that the "Pure" Investment strategy is for him.
 
 John decides in conjunction with our advisors taking into account his personal criteria to purchase a unit on the development "X" at €630,000. (euros)
 
 John pays 30% deposit (including his initial reservation fee) which totals €189,000 (euros) and signs a re-assignable contract allowing him to sell prior to the completion of the development units.
 
 The project matures and after several phased stages John with the help of ALANYA HOME negotiates the sale of his purchased unit for €925,000 (euros) to a secondary home buyer.
 
 To John the "Pure" investor this represents a huge profit gained on invested capital of 156% (IVA and agents fees have not been included in this example calculation) as he has only ever invested the initial 30% deposit into the property.

This investment model relies on careful selection of property and entry into the investment at a very early stage to maximize profit during the price appreciation of the property as the development progresses. For more information and current opportunities please contact on 00 90 242 513 8895; fax 00 90 242 511 7150; mobile 00 90 533 438 5884 or by email at info@alanyahome.com.tr

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