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Tuesday, October 07th, 2008
We’ve been misquoted again - it keeps happening - apparently we have ‘stated’ that now is quite possibly the best time ever to invest in property in Turkey. The implication in the entire article in which we were grossly misrepresented – which of course appeared on a property investment website – was that we were not only advocating investors look at Turkey, but that they buy, buy, buy on our advice and without looking back.
If we could, we’d just like to set the record straight. We’re not an investment portal or an advice site, we’re not qualified experts or even estate agents, (God forbid), we are information providers and more often than not, the information we impart is at least partly based on experience! Therefore we would never tell anyone what they should or shouldn’t do, and whilst we may share our opinion we certainly don’t expect others to necessarily agree! Right, all that aside, it’s time to look at the latest Turkish tourism indicators for those property investors who are interested in Turkey – off their own back, with no influence from us!!
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The property market in Turkey is buzzing with the likes of Shamil Bank investing millions into the sector on behalf of institutional clients and with Century 21 Gold arriving from Russia in search of viable projects for wealthy Russian clients.
Meanwhile, all along the Turkish coastline British, Irish and European holidaymakers are enjoying the stunning Turkish climate and inimitable Turkish hospitality and many of them are planning their own moves into the Turkish real estate market as well. All in all, it would be fair to say that Turkey’s property market is buzzing!!
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The current economic climate in the UK is far from sunny, the latest opinions about the state of play in Britain come from Ernst & Young and they claim that not only will the government fail to keep inflation in check over the next year, but that jobless numbers will rise and that the high street and the property market will suffer as a result. So, now more than ever you may be in need of some extra encouragement when it comes to thinking about buying a property abroad.
After all, is now really a good time to be buying anywhere else? We have one thing to say to you – do you want to leave your money in a country which has been described as about to descend into an economic ‘horror movie?!’ Here are the Shelter Offshore reasons to buy property in Turkey to help offset the economic and general gloom in the UK.
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Well, the Turkish government has done it again – they have put the breaks on the property market in Turkey right at the start of the summer season when prices and interest levels were both expected to rise. Because of a hold up in a law change, no title deeds are being issued to foreign purchasers and those who bought last year and expect to take full possession and complete legal ownership of their properties this summer are being prevented from doing so.
Naturally this is causing waves of panic to surge through the industry – no matter what smiling estate agents may say to the contrary. It’s not that any of them are worried the law change won’t go ahead, it’s that they are concerned this hurdle will be one too many in the way of rare and valued buyers and that they will head elsewhere. Trying times again for Turkish property then…which is a real shame.
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Good news for anyone thinking about buying a property in Turkey in the near future, Dominic Whiting’s ‘Buying in Turkey’ guidebook is now available as a free download – where once you needed to fork out nearly a tenner to get you hands on the invaluable information, you now just need to give your name and email address!
The guide is the UK’s best-selling guide to buying and owning property in Turkey and it comes highly recommended from us at Shelter Offshore. It contains everything you need to know about the buying process and well as a wealth of information that will prove very useful for those thinking about living in Turkey too.
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