Property In Turkey

easyJet Launch 5 Routes For 2010

EasyJet, one of the worlds leading low-cost airlines, will place a stronger focus on Turkey in the coming year by launching five more routes to Turkey, as the country has a promising aviation sector, Peter Voets, the company’s Switzerland, Austria and Eastern Europe marketing manager, has said.

Speaking to the Anatolia news agency, Voets noted that Turkey has one of the fastest growing aviation sectors in Europe. The inclination of individuals toward travelling in recent years has played an important role in this growth, he remarked, adding that easyJet cannot remain indifferent to this potential.

“Low fare flights in Turkey have a big potential even though their market share is only 3%.”

Voets, noting that the Turkish market can easily adapt to low fare flights, said customers are more budget conscious – especially during the economic crisis.

EasyJet, the fourth-largest airline in Turkey in terms of seating capacity, has a market share of 7%, he said.

Source: ANSAmed

Turkish Government And Local Municipalities Limit Density Of Construction

Turkey is learning from the mistakes of Spain by guaranteeing that its immaculate coastline remains unspoilt.

This is undeniably a crucial step on the way to Turkey becoming a principal destination for overseas buyers.

The Turkish Government has certainly decided that the Spanish construction approach is not their chosen method of development.

The measures that they have taken in restricting and regulating coastal construction will give Turkey a head start in the global market for property investors and holiday-home buyers.

Unlike Spain’s Costa del Sol, obstructed by towering architecture, the Bodrum Peninsula in Southwest Turkey is a protected area; buildings can only be two storeys high and must be whitewashed, giving the region an authentic and picturesque identity.  Furthermore, only 20% of the land in Bodrum can be built on, thus ensuring that its exquisite range of wildlife and natural beauty will be protected for generations to come.

Other advantages of the area include the availability of affordable property, advances in tourism, a low cost of living and quality healthcare.

However, what really sets Turkey apart is the security of investment. The Spanish Government permitted the construction of resorts too close to the beach or on land that had not been acquired by the seller. The corruption involved provoked international outrage as people had entrusted their lifetime savings, only to find that some developments had been illegitimately constructed and were under serious threat.

Turkey is often compared to Spain more than 20 years ago; the coastline is intact and the beaches uncontaminated. Tourism is increasing yet building is restricted enough to enable the growth of coastal resorts without damaging the country’s natural beauty.

A White Paper has been issued by the Turkish Ministry of Forestry and Agriculture that sets out guidelines that intend to limit the density of construction and retain the authenticity of major tourist areas covering the Aegean and Mediterranean coastlines.

Cumberland Properties has been nationally recognised as a green company that operates in the Bodrum area. They own three developments on the Bodrum Peninsula, all of which are excellently located and proud to maintain the area’s nature and wildlife. The unique Woodland Regency development is set in the heart of a tranquil pine forest and the development was constructed around the trees; not a single one was damaged in the process. The exceptionally built villas and apartments are in extremely high demand. The development boasts two large, communal swimming pools, a golf putting area and outdoor playground, an exclusive spa and fitness area and 24 hour security.

The Perfect Investment Environment

Turkey is the perfect investment environment with its unique location and proximity to markets in Europe, Caucasus, Central Asia, The Middle East and North Africa. Global investors are joining in Turkey’s economic and social growth.

In Turkey, we are observing an increase in foreign direct investment that has been spurred by the vibrant people, excellent trade networks, strategic location and the start of EU accession talks. Turkey clearly has global aspirations and is an exciting place to do business.

John Chambers, CEO, CISCO

Turkey represents a robust platform for GE Healthcare’s economic expansion in this country, as well as for the entire region. Its highly skilled manpower, geographical location, as well as its existing international partnerships make Turkey an attractive partner of choice, uniquely positioned for the future. Today, from GE Healthcare’s regional headquarters in Istanbul, we cover more than 80 countries and manage 12 direct operations. Our ultimate goal will be to design and develop innovative solutions for Turkey and from Turkey for the rest of the region.

Richard di Benedetto, President & CEO, Middle East, Africa, Central Asia & Russia

We trust in Turkey’s motivated and qualified labour force and strategic location.
Marco Milani, CEO, Indesit Company

We are running 79 countries from Istanbul and are enjoying the dynamism, diversity and availability of a high-quality work force. These attributes and more, we believe, represent big potential for Turkey, in the way of development through the effective use of technology, as well as becoming a software and services provider to other countries, particularly the EU. Microsoft Turkey will be there to support economic development and capacity building.

Jean-Philippe Courtois, President of Microsoft International, Senior Vice President of Microsoft Corporation

Turkey is ranked as being the 15^th most attractive FDI destination for 2008 – 2010 (UNCTAD World Investment Prospects Survey)

Source: www.invest.gov.tr

www.cisco.com

www.gehealthcare.com

www.indesitcompany.com

www.microsoft.com

www.unctad.org

Turkey Shrugs off Latest Global Downturn

“Thanks to the bayram (holiday), the Turkish market seems to have turned the Dubai bend without a shock” Ali Bahçuvan, president of the Turkish Shareholders Association, or BORYAD, told the Anatolia news agency.

If the United Arab Emirates fails in calming investor sentiment, a “second shock wave” might come, Bahçuvan said, calling Turkey a “reference market” for emerging markets.

“The weight of foreign investors and interest-rate cuts make Turkey an example,” he said. “The economy did not deteriorate despite a non-deal with the International Monetary Fund. All these help pull Turkey’s risk premium down.”

In an interview with Bloomberg in London during October, Finance Minister Mehmet Simsek said, “Going forward of course we hope that Turkey will be strong enough not to have to need, to tap into international financial institutions’ resources”.

Turkey has tackled the effects of the global financial crisis without new lending from the IMF.

“We’ve gone through the worst and Turkey has been able to finance its deficit at historically low interest rates,” Simsek said. Spending plans for next year are “realistic” and financing “should not be an investor concern.”

In a note to investors on Tuesday, Timothy Ash, an emerging-markets economist at the Royal Bank of Scotland, said Turkish banks are not “particularly exposed to the $26 billion of Dubai World liabilities.”

Separately, the Financial Times reported that Britain’s banks were Dubai’s biggest foreign creditors. The report said Royal Bank of Scotland had the biggest exposure, of up to $2bn. HSBC, Standard Chartered and Lloyds Banking Group had exposure of about $1bn each, according to the paper.

Speaking to the Anatolia news agency, Bülent Erdogan, chief executive of Turkish construction giant Nurol, said three of the company’s ongoing projects had stopped six months ago due to problems with payments.

“We have six more ongoing projects in Abu Dhabi; we have seen no problem there,” he said. “[But] we also do not have any capital investments in Dubai.”

Emin Sazak, chief of the Turkish-Qatari Business Council of the Foreign Economic Relations Board, said “If [Dubai World] says it will postpone payments to creditors, that would also mean delays in payments to constructors,” he said, adding that only a few Turkish companies had planned to invest in Dubai, but pulled back due to the global credit crisis.

Unicredit Group and Yapi Credit Bank partner all Cumberland Properties projects for your peace of mind.

Turkey voted top country

Turkey has been chosen by Condé Nast Traveller readers as their favourite country in the destination category at the Condé Nast Traveller 12th Annual Readers’ Travel Awards for the first time.

 

Turkey‘s popularity also ensures a spot in prestigious The World’s Top 100 list too where it was voted number 2 overall.

 

Istanbul, European Capital of Culture 2010 also scored highly; Istanbul was voted in the top 10 in the Overseas Cities category (5th place), with top marks for people / hospitality.

 

The city is also home to some of the readers’ favourite hotels as the Ciragan Palace Kempinski was voted in 6th place and The Four Seasons Hotel Istanbul at Sultanahmet, 13th place in the Category of Overseas Leisure Hotels.  The Ritz Carlton Istanbul also secured 8th spot in the Overseas Business Hotels category.

 

Director of the Turkish Culture and Tourism Office UK Irfan Onal expressed his delight at winning the award: “We are thrilled that Turkey has won this prestigious award, which is even more meaningful given that it is chosen by the readers themselves.  This is the highlight in what has been a very successful year as the Turkish Culture and Tourism Office UK.

Indeed, visitor numbers from the UK continue their spectacular rise, with year-on-year figures up 15.5% for the first 7 months of this year.”

 

Turkish Ambassador H.E Mr. Unal Cevikoz received the country award. Also attending the award was the Ambassador’s wife Mrs. Emel Cevikoz, Director of the Turkish Culture and Tourism Office, Mr. Irfan Onal and Deputy Director, Dr. Aysegul Gurgezoglu.

 

 

Source: www.ftnnews.com

Cameron ‘anger’ at slow pace of Turkish EU negotiations

David Cameron has promised to “fight” for Turkey‘s membership of the European Union, saying he is “angry” at the slow pace of negotiations.

On his first visit as prime minister, he said the country could become a “great European power”, helping build links with the Middle East.

He compared hostility to the membership bid in some parts of the EU with the way the UK’s entry was once regarded.

Mr Cameron was expected to agree a new strategic partnership with Turkish Prime Minister Tayyip Erdogan during his visit.

‘Frustrating progress’

In a speech at the Turkish parliament in Ankara, Mr Cameron said he wanted to “pave the road” for Turkey to join the EU, saying the country was “vital for our economy, vital for our security & vital for our diplomacy”.

A European Union without Turkey at its heart was “not stronger but weaker… not more secure but less… not richer but poorer”.

Mr Cameron added: “I’m here to make the case for Turkey’s membership of the EU. & to fight for it.”

At a joint press conference with Turkish Prime Minister Recep Tayyip Erdogan, Mr Cameron suggested the UK would impose provisional restrictions – as with Bulgarians & Romanians after they joined – on the right of Turkish people to live & work in the UK after it joined the EU.

But the rapid rate of Turkey‘s economic growth would make any restrictions unnecessary in decades to come, he added.

He said: “One of the effects here is that [as] economies grow & become more evolved, the pressure & flow [of people] between countries isn’t so great.”

Referring to former French President General Charles de Gaulle’s efforts to block British membership of the EU in the 1960s, Mr Cameron said in his speech: “We know what it’s like to be shut out of the club. But we also know that these things can change.

“When I think about what Turkey has done to defend Europe as a Nato ally, & what Turkey is doing today in Afghanistan, alongside our European allies, it makes me angry that your progress towards EU membership can be frustrated in the way it has been.

“My view is clear. I believe it is just wrong to say that Turkey can guard the camp but not be allowed to sit in the tent.

“So I will remain your strongest possible advocate for EU membership & greater influence at the top table of European diplomacy.”

Regional role

Mr Cameron said those who opposed EU membership were driven by protectionism, narrow nationalism or prejudice.

“Those who wilfully misunderstand Islam, they see no difference between real Islam & the distorted version of the extremists. They think the problem is Islam itself. And they think the values of Islam can just never be compatible with the values of other religions, societies or cultures.”

He said: “All of these arguments are just plain wrong. And as a new government in Britain, I want us to be at the forefront of an international effort to defeat them.”

While praising Turkey’s secular & democratic traditions, Mr Cameron stressed that Turkey must continue to push forward “aggressively” with economic & political reform to maintain momentum towards EU membership.

He said the country had a “unique influence” in helping to build a stable Afghanistan through political & economic co-operation & fostering understanding between Israel & the Arab world.

Source: BBC

The Ultimate Celebrity Destination: Bodrum The “St-Tropez of Turkey”

Home to The Mausoleum, one of seven wonders of the ancient world, Bodrum has long been recognised as a celebrity hotspot. Nowadays, jet-setting actresses including Nicole Kidman, Uma Thurman and Liz Hurley holiday in Bodrum, but more than two thousand years ago, Cleopatra, Queen of Ancient Egypt, was also known to reside in this charming Mediterranean town.
To this day, the elegant celebrity tradition thrives in Bodrum, with infamous individuals such as Beyonce Knowles selecting it as their ideal holiday destination or investing in the unique property found on the peninsula.
With an average of 300 days of sunshine a year, Bodrum is renowned for its exquisite range of wildlife and natural setting of pine trees and olive groves. However, it also offers an extensive range of leisure activities including water sports, golf and yachting. Hollywood actor Tom Hanks who sojourned in Bodrum for a few days whilst cruising the Turkish coastline on board a magnificent yacht has enjoyed the latter of these pastimes.
Gloriously tranquil fishing villages frame the peninsula, offering the serenity of an unspoiled coastline and an authentic taste of Turkey’s rich cultural history.
Nonetheless, fashionable celebrities have long appreciated the distinguished nightlife presented in Bodrum centre. Whilst living in Bodrum, singer Norah Jones worked at the animated nightclub Hadigari and Dustin Hoffman held an exclusive party at Europe’s largest open-air disco, Halikarnas. The unique nightclub was also home to the very first international beauty pageant, Miss Globe, in 1988.
Many of the celebrity figures that have delighted in visiting Bodrum have stayed at extravagant hotels or have rented or invested in luxury villas within the region. Hannah Gelbart of Cumberland Properties recommends selecting an established and guaranteed property developer who offers top-quality, high-end construction with no expense spared.
So if you can picture yourself lounging by a spectacular infinity pool, shopping in an authentic Turkish market or a luxury boutique and sipping cocktails under the stars at a magnificent bar on the main street of Bodrum, you can see why Turkey has been tipped as a top tourist destination for 2010. Do not delay in experiencing it for yourself.

Turkish property owners find the buying process fairly simple and straightforward, company reports

Buying property in Turkey is not as difficult as some might think and can be simpler than in the UK, according to some of those who have taken the plunge in Bodrum.
Buying property in Turkey is not as difficult as some might think and can be simpler than in the UK, according to some of those who have taken the plunge in Bodrum.

In a similar vein to many popular holiday home destinations, Turkey requires that buyers register with the local tax office and obtain an official tax identification number. This enables the buyer to pay the taxes associated with the property plus ongoing annual taxes such as council and refuse collection.

Buyers in Bodrum report that the tax office procedure is relatively simple. ‘No appointment was needed and although they didn’t speak English they know why you are there,’ said one buyer who bought through Horizon Sky.

If you have forgotten to take along copies of passports and other paperwork then the florist across the road has a photo copier. The tax number, also needed to open a bank account, is issued immediately. Garanti Bank is next door to the tax office and as such is an obvious choice for the foreign buyer.

‘I opened a Garanti Bank account in lira, euros and sterling all within 30 minutes. They speak excellent English and couldn’t be more helpful. I have never done anything so quick like that before in a bank in the UK. I even got on the phone to internet banking, which is all in English if you prefer, and got my access PIN numbers,’ another buyer said.

Another Horizon Sky buyer opted for a household name bank, HSBC, also in Bodrum. ‘This takes a little longer as the Account Manager seems to want to chat forever. If you ask, they will open the account in multiple currencies for free and if you’re opening a joint account, you will need all the information for both of you.’

One bugbear with buying property in Turkey is the necessity for foreign nationals to get military clearance although UK passport holders meet Turkish approval. Applications for freehold title deeds have to go to the military, via the Land Title Registry Office (TAPU), where they check that your chosen property is not within a restricted or military zone.

According to Horizon Sky it can take weeks or maybe months depending on the Turkish authorities. But a buyer can take possession of their Horizon Sky property while military clearance and subsequent TAPU (Title Deed) are in progress.

Council tax is usually paid in two installments in May and November. ‘We have paid our first property taxes in Güllük today. The assistant to the Mayor helped me as he speaks English. They did not charge us for last year, even though we owned it then, and suggested we pay both lots of property tax for this year in one hit in case we don’t get back in six months. The total for the next 12 months was only 59 lira (£25). Good news indeed. They also accept credit cards or a money transfer. A very cheap and easy experience,’ said another property owner.

Source: www.propertywire.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

Bodrum: Cultural Heart of Eastern Europe

Turkey, a country rich with exquisite cultural heritage, houses one of the seven wonders of the ancient world, the magnificent Mausoleum of Mausolus. The monument, situated in the stunning coastal city of Bodrum in southwest Turkey was impressively constructed to house the tomb of Mausolus, ancient ruler of Caria.

The name “Mausoleum”, describing the monument enclosing a burial chamber, actually originated from the original edifice in Bodrum. Its majestic, temple-like structure, decorated with reliefs and statuary on a massive base, stood resiliently for 1700 years until it was eventually devastated by earthquakes. Today, you can still visit the foundations and several pieces of sculpture that remain from the immense memorial.

Crusaders, arriving in Bodrum in the 15^th Century, transformed the remains of the Mausoleum into the remarkable Bodrum Castle. Still standing today, the stunning castle overlooks the harbour and the International Marina and visitors flock to the Museum of Underwater Archaeology that is accommodated in its grounds. As one of the finest examples of Crusader architecture in Eastern Europe, the stunning fortress hosts many cultural festivals throughout the year.

The Bodrum peninsula features a notably prevalent artistic and intellectual recent history, providing secondary residence to many artists, poets and singers. A variety of European expats have been attracted to the area due to its ideal climate, luxurious yet relaxed lifestyle and extremely high investment potential. As well as foreign investment, Turkish nationals are also eager to acquire holiday villas in the region and take part in the ever-popular leisure activities that Bodrum’s supreme location offers, including yachting, water sports and golf. The immense and heavenly coastline, with miles of beaches, bays and coves to discover, make every voyage peaceful and enjoyable.

Accessing the area is progressively easier since Bodrum boasts both an international and a domestic airport that receive daily flights from across Europe.

« Previous Page — Next Page »