Spain Influences Bulgaria and Turkey

Spain Influences Bulgaria and TurkeySpain is the number one destination for British holiday makers and for those in search of a holiday, second, retirement or brand new home overseas – nothing new there then…but did you know that both Bulgaria and Turkey are now trying to adapt to Spain’s incredibly popular model that attracts thousands of holiday makers annually and a sustainable inward flow of foreign direct investment into real estate?

It makes sense really – after all both Turkey and Bulgaria are beginning from a similar position to that which Spain found itself in a couple of decades ago, and all three countries are going after similar markets – namely the tourism and investment property abroad markets…so what is Spain teaching Turkey and Bulgaria, we take a look?

Turkey

Both the Turkish Minister of Finance and the Turkish Minister of Culture and Tourism have just holidayed in Spain on a fact finding mission and they have returned eager to implement the Spanish model of marketing, selling, promoting and developing properties specific for the foreign investment market in Turkey as soon as possible.

Whilst in Spain the Ministers learnt how property developments are advertised to specific markets, they were taught about producing scalable models of properties and selling them off plan thus receiving a significant amount of initial investment to use to pay bank loans which can be taken out to fund the entire development.

Just last year Turkish authorities actually froze the sales of property in Turkey to foreign buyers as they were unsure what to do with the inward tide of interest and how to protect their country from colonisation by Germans, British, Dutch and Scandinavian buyers.

Now that they have re-evaluated and tightened up laws and regulations relating to the sale of freehold property to foreign buyers the government is keen to begin promoting property developments in key areas of the country identified for new property projects to attract overseas retirees, second and holiday home hunters.

The Spanish model has been adapted and adopted by many nations around the world already, and now Turkey is committed to targeting off plan developments to specific groups of people, actively marketing them on a country by country basis, selling properties preconstruction and using finance and loans to guarantee the completed construction of the project thus creating greater confidence in property for sale in Turkey among buyers unsure of the financial security of a given construction company in an emerging market like Turkey’s.

Bulgaria

Home to an already thriving winter ski and summer hot-flop holiday market, Bulgaria is aware that the sustainability of its emerging economy is heavily reliant on the constant development and improvement of its tourism industry and on the continued attraction of property in Bulgaria as an investment commodity.

To this end the country has decided to learn from the Spanish model and create golfing resorts across the nation that will attract almost year round interest from keen golfers who like to travel the world and play on different courses.  It has been reported that golfing greats like Ian Woosnam, Jack Nicklaus and Gary Player have been approached by private consortia in Bulgaria to design courses and that in time Bulgaria will be home to forty international standard golf courses.

Around and in the vicinity of each golf course there will of course be property for sale; golf property in Bulgaria already for sale close to the country’s three existing eighteen hole courses is currently hugely in demand and so the fact that Spain has boosted its economy through the promotion of itself as a nation for golfing enthusiasts means that Bulgaria believes it can do the same and believes that golf property for sale in Bulgaria will become the next investment property must have for investors from around the world.

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