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Britons lead in property
purchases in Turkey. The data from The General Directorate of Land
Registry showed that the number of foreign nationals owning property in
Turkey reached 69,781 at the end-December 2006 from 37,681 in mid-July
2003.
According to data the number of Britons who own a property in Turkey
rose to 17,443 from 2,964 in mid-July 2003. Thus, the increase in the
number of Britons who invested in property became 488% over the period
in question. In other words, Britons’ investments increased much faster
than total investments in property by foreign nationals. The data showed
that nationals of United kingdom lead with 17,443 individuals or
companies followed by the Germany with 15,337, Greece 13,839 and Holland
3,494.
TURKEY`S EXPLOSION
ON THE PROPERTY MARKET
There are several reasons
for Turkey`s explosion in growth, for example
* Prices - even with the large increases in price over the last few
years, Turkey still has some of the lowest property prices in Europe.
* You can still purchase a
villa or an apartment for a fantastic, competitive price!
* Climate - coastal
Turkey offers an excellent year round climate. Mild Winters, gorgeous
Spring and Autumn, and very hot Summers.
|
Bodrum monthly
Average Temperature °C (°F) |
April |
May |
June |
July |
Aug |
Sept |
Oct. |
|
Day Temperature |
21
(70) |
26
(79) |
29
(84) |
33
(91) |
34
(93) |
29
(84) |
24
(75) |
|
Sea Water Temperature |
16
(60) |
18
(65) |
21
(70) |
23
(75) |
25
(77) |
24
(74) |
21
(70) |
|
Hours of sunshine per day |
9 |
10 |
12 |
12 |
12 |
11 |
8 |
* E.E.C. - Turkey has
applied to become a member of the E.E.C.(when membership is granted,
property prices will soar).
* Infrastructure - Turkey
is investing heavily in transport links and communications.
* Freehold - All
properties are freehold with title deeds.
* Economy - Over the last
few years the economy has stabilised and Turkey is now (according to the
World Trade Organisation) one of the 20 most dynamic countries in world
trade.
* Holiday Destination -
Turkey is now a major European holiday destination, which gives an
excellent opportunity to realise very good rental returns on properties.
* Local Prices - for food
and local services, prices are very low compared to the rest of Europe.
It is nearly 1/3 cheaper then Britain. Eating out is very inexpensive
and the food is superb.
* Low Charges - Low
annual property taxes, cheaper water, gas and electricity charges.
* Accessibility - Turkey
is becoming increasingly accessible with more and more budget airlines
like Easy jet, Sun Express and tour operators offering cheap flights
during the holiday seasons. * Crime - One of the lowest crime rates in
the World.
*
Magnificent Ancient Sights - that combine seamlessly with modern
facilities.
*
English - is widely spoken.
*
Capital Gains Tax - None to pay after 4 years.
*
Structural Guarantees - 10 years structural guarantees are normally
offered on new built properties.
* Turkey`s Large
Population - Turkey has a huge population of 70+ million. This creates a
strong internal property market meaning investors are not reliant on
international investors for re-sales.
* Property Boom - Turkey
is just at the beginning of a property boom.
* Turkish Population
Growth - is around 2% per annum with 70% of the population younger than
30, this creates a strong local market.
* Turkey is Modern -
While most Turks are Muslim, Turkey is a secular and modern state. You
can find almost everything you`re looking for at local stores.
* Coastline - Turkey
offers 8,000km of it!
* Ranking - Turkey ranks
in the Top 5 - of most overseas property magazines, tv shows and
websites.
* Lastly, the Turkish
people. The friendliest and most hospitable people in the world.
All of the above make Turkey one of the best places to invest in
property at this time.
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