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Good reasons for buying property in Turkey
Traditionally foreign investors have been purchasing property in Southern Euro-Med countries but now they are seeking fresh alternative destinations to invest in, like Turkey !
The potential for returns on investment in this area are enormous. Last year alone, property prices rose by around 50% and with more people looking to buy homes in Turkey, that extra demand is sure to push prices even higher.
In 2005 more than 21 million people visited Turkey
The number of visitors to Turkey is expected to double in the next few years and Turkish investment in tourism and infrastructure is expected to keep pace. Moreover future projects are planned such as the creation of more leisure facilities such as golf courses, health resorts, tourism centres and sport stadiums that support international events like Formula One motor racing.
Land prices are on the increase
Due to foreign investors' high demand of second homes in Turkey, land prices are on a steep increase, as a result property prices will also continue to rise steeply, hence now is the right time to purchase an investment property or a second home.
The expected accession of Turkey to the EU is also a major factor that will contribute to enormously to Turkey's property market. When this happens property prices will double, even triple within a few years. So the best policy is to buy now and enjoy the benefit of an investment that will soon increase in value.
Guaranteed rental income
We have a selection of new developments offering guaranteed rental return of 7% for up to 4 years. This in effect will provide a healthy income which should be sufficient to cover all your running costs or annual costs.
No capital gains tax after 4 years
Absolutely true! no capital gains tax on your property after 4 years of ownership. This can amount to a substantial savings should you wish to sell your property in the future.
Life in Turkey is easy and inexpensive
The local Turkish people are very warm and hospitable to foreigners. You can find a wide range of delicious food. Over 300 days of sunshine, attractive beaches, exciting outdoor and entertainment activities, winter sports (in land during the winter months), skiing, water sports, mountain sports, attractive sightseeing spots and historic places are some of the appealing features of Turkey.
International companies are moving into Turkey
Turkey is becoming an important new market for international companies. Already Sony Ericsson have opened a new centre in Istanbul and many more international businesses are recognising the potential of this emerging country, and are opening offices.
* Agreements between Turkey and 39 other countries to promote and protect mutual investments as well as an agreement to preclude double taxation
* Customs union with EU since 1996
* A candidate member of the European Union
* A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies
* A large labour force at relatively low costs
* A modern infrastructure
* A well preserved European holiday destination
* The World Trade Organization considers Turkey to be one of the most dynamic countries
* Newly administered investment regulations for the foreigners
What is the cost of living in Turkey?
The Turkish lira has been exceptionally weak; the currency is now rebounding against both the dollar and sterling. Now it's good value for money, for example a litre of Evian water will cost the equivalent of 0,30 GBP, a meal in a very good restaurant will not cost more than 15,00 GBP per person and cigarettes are approximately 1,50 GBP a packet.
* Water per m3: Approx. 0,30 GBP per m3
* Energy per kwh: Approx. 0,15 GBP per kwh
* Petrol per litre: Approx. 1,20 GBP per litre
* Dinner in a luxury restaurant: Approx. 15,00 GBP per person
* Turkish Cheese: Approx. 3,00 GBP per kg
* Bread: Approx. 0,10 GBP per piece
* Beer: Approx. 0,50 GBP per 1/2 liter
* Hair Cut: Approx. 6,50 GBP per cut
If you prefer buying a property at a very reasonable price, that you can use yourself for regular holidays and rent it out to maximise your income, in a country where the summers are so long and pleasant, then Turkey is the most appropriate destination for you.
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Perhaps you should change your user name to one which better reflects your interests if you want people to trust your judgement. I would say that 10p for a slice of bread is a bit steep, don't you think? But I enjoyed your 'swashbuckling' promotion of the Turkish housing market.
Seriously though, please try to be more balanced. I'm sure you know very well that the picture in Turkey (or anywhere else for that matter) is not as idyllic as you would have people believe.
PM me for my Turkish property blog address (non-commercial but donations welcome!)
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