Property In Turkey

Russia – Turkey visa-free travel

With the signing of a mutual agreement between Turkey & Russia [Tuesday, 18 January 2011] mutual visa regulations will most likely be lifted within two months time.

The decision is expected to increase trade between the two nations & has excited tourism operators, as it will go into effect prior to the start of the summer season.

After the initial protocol to lift joint visa regulations was signed on 12 May 2010, today the Re Admission Agreement, considered the final stage in the process, was signed between Turkey & Russia.

According to the Russian Embassy visa regulations should be lifted between the two countries in one to two months time.

Now, not only will businessmen be able to travel freely without the burden of obtaining visas, but the practice is also expected to positively affect tourism between the two nations. Last year alone, three million Russian tourists vacationed in Turkey.

Cumberland Properties welcomes the news, as making travel easier between the two countries will undoubtedly increase the number of rental enquiries to Seaview Regency Prestige, already popular with Russian tourists if the 2010 season is anything to go by, commented Cumberland Properties rentals manager Utku Karamanlioglu.

He added that the prospect of owning a Turkish property, whether as a holiday home, or a property investment in Turkey would now become even more attractive to Russian property investors keen to capitalise on the growing number of Russian tourists visiting the Bodrum peninsula.

Cumberland Properties have recently sold a significant quantity of Turkish property at its popular Woodland Regency development to Russian nationals both as Turkish holiday homes & also as Turkish property investment.

Following Cumberland Properties successful debut at the Moscow International Property Show last November Cumberland are planning to have a presence at the forthcoming DOMEXPO to be held at Gostiny Dvor, just 200 meters from Red Square, Moscow, between Thursday, 24 February – Sunday, 27 February 2011.

For further information:

Elena Sikorsky  elena@cumberlandproperties.net London office [Наш русскоговорящий сотрудник]

Selim Sirri  selim@cumberlandproperties.net London office

Volkan Akgözlü  volkan@cumberlandproperties.net Bodrum office

Utku Karamanlioglu  utku@cumberlandproperties.net Bodrum office

Source: Sabah

Sports celebrities in Bodrum

Australian Tim Cahill, midfielder for the English premier league team Everton, recently bought land where he has had built an elite villa in Bodrum. He said of his villa & Bodrum, “It’s a very good property investment in Turkey, holiday home & a great place to play golf.”

Tim said, “Being a footballer you don’t always know when you’re going to be able to get away, this is ideal.”

Tim emphasised that the best option was Turkey & Bodrum, “It’s five minutes from Bodrum airport, so I can take in some sun, play a bit of golf & fly my family over from Australia for a holiday to.”

Tim explained some of the reasons for choosing Turkey; beautiful geographical location, fantastic climate – weather & beaches, good food & a great tourist industry which is booming; “It is not to far either from Galatasaray who my mate Harry Kewell plays for so I will be able to go & watch him.”

He added “I have travelled all over the world & Turkey has got to be one of the most beautiful place I have been, there are not only places like Bodrum, but Istanbul to, with so much to see; it is a great place to have a holiday home.”

Tim paid around 200,000 GBP for his property but there are many apartments & villas in Bodrum. Tim added that his Turkish villa is big & light & the living area is “summer living” to include all the comforts, which suits him being an Australian.

Tim who is interested in real estate added that it was not just about money & investment; he wanted to enjoy the luxury lifestyle as well.

Tim is in good company as Andy Johnson, striker for English premier league team Fulham, also has property in Bodrum.

If football’s not your thing & although he might be retired from boxing, Ricky ‘the hitman’ Hatton could still knock you over with his sheer enthusiasm for his latest property venture.

“I bought a villa off-plan near Bodrum in Turkey two years ago & now I want to build a training camp there as well”, says the 31-year-old former world champion.

“I’m building a stable of about 25 fighters & the place will be ideal for them. It’s hilly, which will be great for their road work, the heat will help them acclimatise for fights abroad, & the golf makes it an ideal place to chill after a fight.”

If this all reads like the familiar story of the retired fighter rushing to spend his hard-won fortune then think again — Hatton is no fool with his money.

Managed by his father, Ray, he has his own leisurewear range & is now moving into the management & promotion side of boxing — hence his plans for the training camp in Bodrum.

He has been typically canny with his property dealings. The four-bedroom, two-bathroom villa in Bodrum comes with its own swimming pool & cost just 159,000 GBP.

Up until recently Hatton lived in a modest semi-detached house in Hyde, Manchester, where he was brought up. It was only when fans took to looking through his windows that he decided on something rather more private.

So he bought a far larger £750,000 home a few streets away in Gee Cross, put in a swimming pool & games room & built a high surrounding wall.

Hatton now lets the semi in Hyde & lives in the new house with his girlfriend. He also has a holiday villa in Tenerife. Considering that he is believed to be worth around £25 million, it is hardly an extravagant portfolio.

Hatton, a fierce Manchester City supporter, has always remained true to his roots & it was family holidays in Bodrum that first brought him to the Bodrum peninsula.

“I used to come here with my parents & my brother & now that I could be described as retired from the ring, I want to spend time here with my girlfriend & my own little boy, Campbell”, he says. “I just can’t get over how much the place has changed. There are golf courses galore & Bodrum is absolutely beautiful.”

The part of Bodrum where Hatton has chosen to invest is undergoing a £4.1 billion development “Golf is the driving force behind it,” say English estate agents Savills.

“You can get phenomenal value for money in terms of property in Turkey & can also let your Turkish property ten months of the year quite easily.”

The Ankara government is behind this golfing boom. Areas have been identified for up to 100 new courses to be built by 2014 & the policy is already paying dividends.

The prices might sound low, but don’t imagine Bodrum is a cheap & cheerful part of Turkey. It is a favourite holiday spot for wealthy types from Istanbul. In Yalikavak, its plushest suburb, the prices of some modern houses start at more than 1.5 million GBP & mansions sell for 6 million GBP & above.

Investing in Turkey appears to have been a shrewd move on Hatton’s part. With its population of 73 million & growing, there is a significant shortage of housing & this should maintain demand & ensure prices continue to appreciate. The Turkish real estate & construction sector grew by 21.9% in the second quarter of 2010. These types of statistics have increased confidence in the Turkish real estate & construction sectors, & English investors are gravitating toward Turkey to take advantage after the financial crisis.

Turkey is also economically sound, having come out of the recession relatively unscathed, largely thanks to not being in the Euro-zone. It is the 15th-largest economy in the world & would be the sixth largest in the European Union if, as expected, it is granted full membership by 2020.

Turkey is the centre of attraction for property investment especially for European investors after the global financial crisis.

Is golf much of an attraction to Ricky Hatton when he visits Bodrum? “To be honest with you, I just hack around the course — I’m not very good,” he says.

“But I find it relaxing. And one thing is for sure — it’s a damn sight less painful than fighting.”

Sources: Milliyet, Haber, Daily Mail.

Turkey tops World Travel Market ExCel London

The Turkish Office of Culture & Tourism was an exceptional contributor to this year’s World Travel Market [WTM] held at ExCel in London during November with this year’s Turkish stand growing 30% in size since last year.

At the press conference Mr. Ozgur Ozaslan, Turkey’s Deputy Undersecretary Responsible for Tourism, announced that Turkey had not experienced any reduction in its tourist arrivals in the past two years unlike many other countries.

Indeed, by welcoming over 27 million visitors to its shores in 2009, Turkey achieved an increase of 2.8% in visitor numbers positioning it as the only country to benefit from a growth in inbound tourist numbers in 2009.

Growth looks set to be even more spectacular during 2010 according to the early figures which reveal over 23 million visitors arriving in Turkey in the first nine months of the year, extrapolated, a year on year increase in tourist arrivals of 6%.

Turkey’s success has also been reflected in winning various tourism awards to include being voted “Favourite Destination” in the 2010 Reader’s Travel Awards by the readers of the world famous Condé Nast Traveller UK magazine & numerous World Travel – European Awards it has received this year.

Istanbul, the European Capital of Culture for 2010, has also staged countless arts & cultural festivals, activities & concerts & has acted as host to a succession of world sports events such as the FIBA world basketball championships & Formula 1 events.

In a continuation of Turkey’s emerging role in the sports world the Universiad Winter Games will be held in Erzurum, Turkey’s centre of winter sports, between 27 January – 6 February 2011, & the 11^th European Youth Olympic Festival [EYOF] the only all-European multi-sport event will be held in Trabzon between 23 – 30 July 2011.

In London to receive the Chatham House Statesman of the Year Award 2010 from the UK’s Queen Elizabeth II, Turkish President Mr. Abdullah Gul will be opening the Yunus Emre Turkish Cultural Centre in November 2010, [Yunus Emre Turkish Cultural Centres have opened in Bosnia Herzegovina, Albania, Egypt, Macedonia & Kazakhstan. Plans are underway for new centres in other countries including Germany, France, Kosovo, Syria & Russia], in addition to the Mimar Sinan exhibition held at the Royal Institute of British Architects [RIBA] dedicated to the chief Ottoman royal architect during the 16th century. His most famous work being the Suleiman Mosque in Istanbul.

Mimar Sinan [1490 – 1578] was the chief Ottoman architect & civil engineer to sultans Suleiman I, Selim II & Murad III. He was responsible for the construction of more than three hundred major structures amongst other more modest projects.

President Gul stated that “Mimar Sinan is a part of Ottoman & Turkish culture & a part of the common heritage we share with countries from Romania to Saudi Arabia, from Greece to Israel.”

The WTM Turkey press conference was attended by Mr. Ozgur Ozaslan, Deputy Undersecretary Responsible for Tourism; Mr. Cumhur Guven Tasbasi, General Director for Promotion; Mr. Levent Demirel, Deputy General Director – all from the Turkish Ministry of Culture & Tourism & Mr. Irfan Onal, Director, Turkish Culture & Tourism Office UK.

Additionally, Turkish Members of Parliament, Provincial Governors & representatives of the tourism industry also attended WTM this year.

There were also special head-to-head sessions with senior representatives from the Mugla & Antalya regions & a series of high-level meetings throughout the four days.

Moscow International Property Show – post show roundup

Economists & writers will long argue about the causes & consequences of the economic crisis, but a real estate business has no such luxury as time for reflection.

An increasing number of events dedicated to the elite segment of real estate are proving the fact – the crisis has been overcome & a new era has been ushered in.

Positive changes in the market have already activated its most reliable sector – luxury property. Cumberland Properties participated in the XV International Property Show in Moscow, which is closing the season of presentations in real estate this year.

Keeping with tradition aiGroup invited exhibitors to the shopping centre “Tishinka” in the centre of the Russian capital, where 184 companies from 40 countries brought fresh designs for the demanding Russian client. Around 8,000 visitors, among which friends & partners of Cumberland Properties, were asking questions of real estate companies’ representatives & choosing the most suitable offers during the two show days.

As president of aiGroup Kim Waddoup remarked, “there is yet no better tool for investment than property, especially an overseas property”.
This year has significantly expanded the selection of geography. Five to six years ago Russians were buying real estate mainly in Europe – in Spain, France & the UK. Today there is hardly an island left where footprints of a Russian buyer won’t be found. Distances do not confuse Russians. However, their neighbours, Bulgaria, Finland, Montenegro & Turkey remain the favourites & are constantly strengthening their positions.

Surprisingly the economic crisis has had a beneficial impact on the overseas segment of real estate. In the context of inflation, the need to invest, or simply a desire to secure financial assets, it has prompted many Russians to refer to such a reliable instrument as property ownership abroad.

This was evidenced by a significant number of interested visitors, investors & potential buyers at the Moscow International Property Show this year.
Russians & representatives of other CIS countries are not only aware of what it is to invest in real estate, they also believe this sector to be the most profitable to invest in.

That’s why Cumberland Properties who have long specialised in the design, construction & provision of exquisite interiors to their exclusive properties in Turkey, decided to offer the market a few new projects at the Moscow International Property Show where Cumberland’s Woodland Regency development was the most admired of all.

While the name of Cumberland is becoming familiar to the sophisticated ear of the discerning Russian buyer our team continues to work on the next set of fabulous ideas.

Christmas for Turkey: Istanbul World’s Best-Performing City

How the world’s cities have fared since the financial crisis hit in 2007

Cities are the great engines of growth in the world economy. Istanbul, with income growth of 5.5% & employment growth of 7.3% over the past year, is currently the world’s best-performing city, according to a new report by the Brookings Institution & the London School of Economics.

The report ranks 150 cities from across the globe according to growth in gross value added per person (a proxy for income) & employment. The 150 metropolitan areas represented just 12% of the world’s population but accounted for 46% of the world’s GDP in 2007.

Some cities have plunged in the rankings since the “Great Recession”. Dubai & Dublin, the second & sixth best-performing cities respectively between 1993 & 2007, now rank as the most stagnant.

Source: The Economist

Bodrum Foundation Helps Disabled

A foundation established 13 years ago by volunteers in the popular resort town of Bodrum has created a source of 4 million Turkish Liras for the education of the disabled in the region. Bodrum Health Foundation, or BSV, was established in 1996 with 36 members & considered its first priority to provide care for disabled children. Purpose built, in 2002, Begonvil Education & Rehabilitation Centre was constructed on 10,000 square meters of land provided by Turgutreis Municipality.

Speaking at a dinner party organized to mark the 13th anniversary of the foundation’s establishment, foundation president Ahmet Biçer said over 140 disabled people have been educated with the financial support of 4 million liras. “Close your eyes for 30 seconds & imagine yourself or one of the people you know is disabled,” Biçer told an audience of 400 guests, including 50 overseas nationals living in Bodrum.

“The founders of this foundation set out with this philosophy & created a chance of high-standard education & rehabilitation for 140 disabled people. These people, who created this organization without expecting anything in return but the happiness of the children, are the real heroes of Bodrum.”

Biçer said the foundation hopes to complete a new workshop for the disabled next year with an estimated investment of 450,000 Turkish Liras.

According to the information on the foundation’s Web site, Begonvil Special Education & Rehabilitation Centre for Disabled Children provides trainable mentally impaired children, autistic children & those with physical disabilities in the 0-18 age group with one-on-one & group education. The centre has professional training rooms, a library, a lounge, a kitchen & a dining hall.

The interior of the centre has been designed to provide disabled individuals with safe & easy mobility. In the gardens, there is an agricultural rehabilitation area, a playground, swimming pool & Jacuzzi. Presently, 90 physically & mentally disabled individuals are provided with services at the rehabilitation centre.

One-on-one education is given in five main fields: physical development, self-care skills, mental development, emotional & social development, & language development.

Fields defined in accordance with the child’s needs are supported with group education. The children who have completed their basic development can start academic education, receive training for independent living, & attend vocational education workshops. During the workshops making galoshes, ceramics, accessories & souvenirs develops the children’s manual skills.

The aim of these endeavours is to support the disabled children’s personal & social life skills so as to increase their self-confidence & motivation & to enable them to become independent, self-contained individuals with an improved sense of self-worth.

Because education & rehabilitation cannot be solely indoor activities, picnics, excursions, trekking & activities in the sea are considered to be crucial endeavours that foster harmony between disabled individuals & society. Therefore, the rehabilitation centre organizes many outdoor activities that children can attend together with their parents.

Television & radio programs are prepared & panel discussions are held to inform the public & to raise awareness. The newspaper of the foundation, Gökkuşağı (The Rainbow) is published every two months & delivered to 3,000 locations in Istanbul & 2,500 in Bodrum.

Physiotherapy for children with mobility problems

Physiotherapists at the centre rehabilitate mobility problems of children who suffer from certain disabilities, Cerebral Palsy, motor mental retardation, & Down’s syndrome. In addition, in accordance with the needs of children with other disabilities, programs for individual, group or home exercise are offered.

The aim of the therapy programs is to minimize the mobility problems of the children & to help them gain maximum independence in daily life. Therapy sessions are held with the full support & cooperation of the families.

Education & rehabilitation of children with a diagnosis from a fully equipped state hospital & a medical report from the hospital board can register for the centre where they are given meticulous care by a team of specialists. The team includes physiotherapists, special education teachers, ceramics teachers, & child development & education teachers. Moreover, specialists in music & folk dance volunteer & also support the centre.

To spread the workload, the foundation & the rehabilitation centre depend on the help of volunteers. The social committee, which consists of volunteers from all over the Bodrum Peninsula, work all year round for the betterment of the foundation. The activities of the committee include organizing fairs & benefit dinners, working on projects with similar institutions, & preparing programs to raise public awareness.

Source: http://www.hurriyetdailynews.com

Turkey An Affordable Alternative For Expats

Over two thirds (75 percent) of expatriate Britons living in EU countries are considering returning to the UK due to the effects of the economic crisis according to a recent survey.

Fears over job security falling European property prices and the strength of the Euro are forcing many to reconsider their options according to a poll commissioned by Moneycorp the UK foreign exchange specialist.

250 in-depth telephone interviews were conducted last month and the findings indicated that 70 percent of those interviewed were now considering packing up and going home.

Job security was the most common concern with 35 percent worried about losing their job.

Falling European property prices was the second major concern closely followed by the strength of the Euro that for many paid in sterling has meant a dramatic cut in income or pensions.

Britons living in Spain where the recession is biting hardest for expatriates are the most worried about losing their jobs with 41 percent afraid they will be affected by the Spanish unemployment rate that currently stands at 18 percent.

More than a quarter (28 percent) of British expatriate living in Spain and more than one third (33 percent) of those living in Germany claim a sterling pension and rely on it as their main income.

An average of 70 percent have repatriation in mind says the survey while more than a third in some EU counties say they are definitely going back to the UK – including 38 percent of British expats in Germany, 37 percent in Spain, 34 percent in Italy and 33 percent in France.

David Kerns, Head of Private Clients at Moneycorp, said: “Our research highlights the real impact of the downturn for Britons living abroad”.

However, Turkey remains outside the EU affording the British in particular especially attractive exchange rates when compared to their European counterparts. This makes Turkey an affordable alternative to the more established retirement destinations such as Spain. Turkey already has a burgeoning British expat community.

Property in Turkey whether you are looking for Turkish property for sale or simply rentals in Turkey currently represents fantastic value for money. Furthermore, Turkey continues to enjoy sustainable growth in its property market with both domestic and international demand underpinning the market. Returns for rentals in Turkey remain strong.

Simultaneously, the strength of Turkey’s underlying economy and continued growth in tourism bolsters the case for considering Turkey as a real alternative retirement destination.

Turkey’s accession to full membership of the EU continues apace, increasing confidence amongst many Europeans in Turkey as a stable retirement destination.

For more information visit: www.moneycorp.com

Cumberland Design & Construction News

Never a dull moment at Cumberland, this autumn, and throughout the winter, will see the continued development through to completion of our Woodland Regency site.

Due to local legislation that is defined by the council and designed to protect tourism, there are restrictions placed on builders and developers; limiting the scope of works that may be carried out during the “high season”, in order to preserve the peace and tranquillity normally associated with the Bodrum peninsula.

Consequently, this is our busiest period of the year on the construction side of our operation and every minute counts.

By the time you arrive for your well-earned break or holiday every trace of our busy winter schedule will have been removed. The paint will be dry, the lawns watered and the sun loungers set-out around the poolside just waiting for you to recline, relax, rejuvenate and enjoy a long, cool refreshing drink in the beautifully secluded surroundings of the olive and pine tree forest in which our exceptional Woodland Regency development is set.

But right now things are moving apace and we’d like to take you on a quick tour of exactly what we’re up to here at Woodland Regency.

No one wants to holiday under a cluster of electric cables strung from unsightly pylons do they? So they just had to go. You will see from the photos that the original pylons have been replaced for a more aesthetically pleasing variety – if such a thing is possible when it comes to electric pylons – and the old cables replaced for the new armoured type and rerouted around the perimeter of the site. Consequently, Woodland Regency is now cable free both above and below ground. This has the dual benefit of both improving safety and improving the aesthetics in order not to detract from the natural beauty of the locale.

Our old warehouse has been dismantled and donated to Konacık council. We understand that a portion of it will be used for storage, however – more interestingly – and more in keeping with Cumberland Properties philosophy – the majority of it will be re-erected, refurbished and reused to provide an adult education centre that will be run by, and for, the local community. It is planned that a considerable number of socially orientated courses will be made available to the surrounding populous. Cumberland Properties would like to wish all those involved the very best in all their endeavours.

The area created by the clearance of our old warehouse will allow work to progress on the footings and necessary groundwork for 3 further C-type units. Each finely crafted and exquisitely finished apartment will comprise of 2 bedrooms, a bathroom and feature an open-plan ground floor that combines the kitchen / breakfast bar with the dining and living space to create a wonderfully fresh ambiance. Each of these will occupy a 1,141 sq ft plot, to include terraces, and will have a floor area of 670 sq ft set out over 2 floors.

Whilst we’ve had trucks and JCB’s roaming around the site this has provided an opportune moment for work to continue on the provision and extension of drainage to the new and existing units respectively.

We have also taken delivery of a considerable amount of topsoil, ready for Cumberland Landscaping & Design to get to work with, in addition to that already available on site.

On the lighter side of things, relatively speaking, work continues with the installation of staircases, balustrades and aluminium windows and doors to the existing units.

All finished off with a lick of paint to keep the site presentable whilst our work continues.

For more information contact: volkan@cumberlandproperties.net

or visit: www.cumberland-properties.com

Things That Go Bump In The Night

A 200-year-old building that was under protection due to its historic value & located in Bodrum Gümüşlük district was knocked down in the night, authorities said.

Three people, a bulldozer operator & his two assistants, were taken into custody by gendarmerie forces for being involved in the incident.

The 90-square-meter house, which belongs to a Turkish tourism investor, was located in a 600-square-meter garden.

Neighbours called the gendarmerie hot line because the house was on the preservation list of the Cultural & Natural Heritage Conservation Board.

Gendarmerie officials learned at the scene that bulldozer operator Cengiz Kalman, who knocked down the building, did not have any authorization or license for the operation. “Two people came to me & asked me to knock down the house as they would start new construction,” Kalman said in his testimony. “They would pay us in the morning. We did not know who owned the house.” Kalman & his two assistants were later released by the court pending trial.

Ergun Berksoy, the owner of the house, had no information regarding the demolition & will press charges against the perpetrators, said Murat Duru, the head of a hotel owned by Berksoy. “Berksoy spends most of the year in the United States,” said Duru. “He was shocked to learn that the house had been knocked down. We have no idea who did it & why.”

Gümüşlük Mayor Mehmet Tire said it was not a municipal operation. “We did not order such a demolition, & even if we had done it, we would have done it during the daytime. I also wonder why they did this,” he said.

Source: http://www.hurriyetdailynews.com

Bodrum Tipped As Double Rental Prospect

It has been stated that the Turkish Aegean Peninsula of Bodrum provides a dual incentive to investors.

Both buyers and investors hoping to rent out property can benefit from the fact that the area boasts both a domestic and an international market for tourist rentals.

This is due to the fact that the peninsula is the preferred Turkish holiday destination not only for the Turks but also by tourists visiting from Britain, Sweden, Denmark and Germany.

Hannah Gelbart of Cumberland Properties, a property developer that owns three developments within the Bodrum Peninsula, affirms that “more than 50% of our buyers come from Ankara and Istanbul.”

Bodrum has a great many attractions, including cultural and historic features such as Bodrum Castle and the remains of the Mausoleum, one of the seven wonders of the Ancient World. It is also famed for its stunning marina, whitewashed houses, narrow winding streets and elegant boutiques.

Furthermore, its Underwater Archaeological Museum that is housed in Bodrum Castle is recognised as the best of its type in the world. It was the wealth of marine artefacts recovered locally that originally inspired the commissioning of the museum.

Diving for antiquities remains a firm favourite amongst the more adventurous tourists. The area boasts a full range of water sports from a gentle paddle or a trip out on a pedalo – for the less adventurous – through to parasailing and scuba diving courses all that can be arranged locally.

Recent studies in and around the area have noted that crime rates are minimal, as indeed is the cost of living. English is widely spoken throughout the region. During the summer months you could almost be forgiven for thinking it was the first language.

English pounds sterling, Euros, Dollars and obviously Turkish Lira are all in circulation during the summer months and are readily accepted in most local shops and markets. Although be prepared to have your change given in Turkish Lira. The UK especially continues to benefit from superb exchange rates virtually doubling your money.

Bodrum has been recently tipped as one of Turkey’s property hotspots for buyers in 2010, along with fellow Turkish resorts Altinkum and Dalaman.

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