Mortgages for foreigners who are looking to invest in Turkish real estate.

Foreigners hoping to purchase real estate in Turkey can now get credit in the form of special mortgages. The Turkish Economic Bank, or TEB, is teaming up with BNP Paribas to offer mortgages for foreigners who are looking to invest in Turkish real estate.

BNP Paribas International Buyers, the international mortgage branch of BNP Paribas, and TEB, are partnering to make the mortgages available.

BNP Paribas International has been a leading name in mortgages in Europe and has been working actively over the last 17 years to provide real estate credit to foreigners living in Europe. TEB has been a shining participant in Turkey's new mortgage economy. The combined experience, expertise and knowledge of TEB and BNP Paribas International have created a viable and competitive mortgage offering that will be very helpful to foreign real estate investors, said Cemal Kişmir, the vice president of TEB's personal and enterprise banking, speaking at a press conference. TEB and BNP Paribas are hoping to be the market leader in foreign mortgage offerings in five years, said Kişmir.

The Turkish Parliament approved a mortgage law in early 2007। The framework provided by the law began the process of building a mortgage market in Turkey. Although growth has been steady in the Turkish mortgage market, it is still a fledgling market compared to its U.S. and European counterparts.

ISTANBUL - Turkish Daily News

Turkish Property Set to Fly With New Law

The Turkish government is expected to bring a major amendment to the country's investment law targeted at improving conditions for foreign investors. Experts opine that this change could put the boosters on the already high-flying property market of the country.

The Foreign Direct Investment Law governs all foreign investments in property in Turkey. At the moment, this law does not allow overseas buyers to directly purchase or own more than two and half acres of land. However, the new amendment is aimed at lifting this limitation in addition to clarifying the position of investors who wish to buy larger tracts of land.

In a talk with Property Wire, Orhun Ozdener Vahaboglu, real estate attorney and consultant in Istanbul informed that Turkey is currently seeing a flood of British and European tourists, many of whom are also potential investors. A report by Principal International lends credence to this; it states that 17,000 Britons already own a property in Turkey and the number is rising.

'Turkey is a growing country with a lot of potential, as the European [Union] membership is a pending issue,' Mr. Vahaboglu said. His comments are supported by Hot News Turkey, which reported that investment Turkish property has crossed the USD10 billion (GBP5.44 million) mark in the last five years and continues to rise.

PROPERTY investors looking to Turkey for solid investment

PROPERTY investors looking to Turkey for solid investment prospects will be encouraged by the news that the Turkish Tourist Office has been nominated for an international award.

In the last two months, visitor numbers to Turkey have shot up. The Tourism Ministry announced a 19.17 per cent increase in June in the number of foreign visitors, which is a rise of nearly four million tourists in the first half of the year, compared with the same period last year.

Each year, the 2008 World Travel Awards select a tourist board winner, and this year, Turkey is among those nominated in the Europe's leading tourist board category. The winner of the award will be announced in December.

An increase in the number of tourists can only be a good thing for investment potential and rental returns.

In a further bid to increase tourist numbers, the Turkish tourist board is teaming up with the Turkish private sector to generate an €200 million advertising campaign to highlight the potentials of the country as both a holiday or investment destination.

Last year, Culture and Tourism Minister Ertugrul Gunay stated that the Turkish Government was planning to increase the amount it spends on promoting Turkey to prospective visitors overseas, so this new advertising campaign is fulfilling that plan.

Mr Gunay also said that the country had set itself the target of boosting tourist numbers from 20 million in 2007 to 25 million this year.

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Turkey is a top property hot spot

Turkey is a top property hot spot :
Average annual growth rate of 7.3% since 2004, Turkey has established itself as a leading emerging market for property investors. Burgeoning tourist industry and planned reforms ahead of its EU accession, poised to become one of the world’s top 10 economies by 2050. Where to buy: Belek, Turkey’s golfing mecca with plans to add up to 15 golf courses to its range of 5-star golf retreats over the coming years, Belek is bathed in sunshine for 320 days a year. Property investment has increased by 40% since 2005. Bodrum, the yachting and tourism hub of the country where property prices have risen by 30% over the past two years. Altinkum is cheaper than Bodrum yet 90 minutes drive by car from the prime investment resort town offering varied opportunities for on-sell and lettings. Watch out for: check the planning so you don’t have ugly builds near your investment; ensure that property for sale is accompanied by title deeds and make sure you get a competent solicitor to explain the terms before making the decision to purchase. Homes Overseas – 14 August 2008 (Abridged)

Turkish real estate law:
A General look at Turkish real estate law concerning foreign persons

Real estate acquisition by foreign persons is regulated under two different pieces of legislation:

a)The Foreign Direct Investment Law, which used to allow foreign-owned companies to acquire real property as if they were a locally owned Turkish company.

b)The Land Registry Law, which allows both real persons and legal persons to acquire real estate in Turkey.

Despite the absolute freedom granted to companies by the Foreign Direct Investment Law, the Land Registry Law imposes some limitations on foreigners.

I wrote about the annulment of the Foreign Direct Investment Law earlier, but I find it useful to repeat that the sub-article that allowed foreign companies to acquire property was revoked by the Constitutional Court.

This decision was made in March 2008 and published on April 16. It will come into force after six months following the publication of the court decision.

This means that the annulment will go into effect on Oct. 17 and that companies formed under the Foreign Direct Investment Law will be able to acquire property until this date.

Land Registry Law Article 35, Sub-clause 7, was revoked on Jan. 16. The court granted a grace period of three months, but no legislation was made within this three-month period.

Having nothing better to do, the Ministry of Public Works and Housing published a decree on April 14 and froze all pending applications by foreign persons for property acquisition.

New legislation

A new law (No. 5782) was enacted by Parliament on July 3 to regulate property acquisition by foreign persons. This new law regulates Article 35/7 of the Land Registry Law, which was revoked by the Constitutional Court. The law also regulates the pending Article 36, which was revoked earlier.

Limitations introduced by this new law have three main sections:

The first limitation is to the extent of the property which can be acquired by a foreign person. My remark would be that no new regulations have been made to the revoked Article 35/1, which authorizes the Cabinet to increase the maximum volume of 2.5 acres of property to 30 acres.

This matter is pending and means that the extent of the property which can be acquired by a foreign person in Turkey is still limited to 2.5 acres per person. Parliament has kept the limitation per person untouched.

The second limitation is to the surface area of the land which can be acquired by a foreign real person. The new law has set up the limitation in a pro rata way against foreigners.

In earlier legislation, the maximum area of land which could be sold to foreigners was limited to 0.5 percent of the total surface area of the city the property is in.

The new legislation has changed this limitation to: a) the central counties and other counties b) 10 percent of the applicable and planned zoning plan of the central county or other counties.

The third limitation is based on the limitation of the objectives of a company formed in Turkey by foreign investors.

Article 36 (as amended) stipulates that a Turkish company owned by a foreign investor is allowed to acquire property as long as the acquisition falls within the scope of the company's objectives cited in its articles of association. One should note that drafting the articles of association is now very important for foreign investors.

This limitation shall also apply to a Turkish company which owns property and is changed into a Turkish company operated by foreign investors through a company merger or acquisition (M&A).

If the foreign investor Turkish company is dissolved and if the foreign shareholders intend to acquire the company's properties after the dissolution, the real estate shall again be subject to Article 35 (as amended by law No. 5287) of Law No. 2644.

Many professionals comment that Law No. 5782 fixes annulments in both the Foreign Direct Investment Law and the Land Registry Law. In my opinion, the regulation does not really fix the revoked sections of the Foreign Direct Investment Law just yet.

Companies formed under the Foreign Direct Investment Law were treated as Turkish companies and could acquire real estate property freely. Under the new law, authorities shall have the jurisdiction to inspect if the real estate investment of a foreign investor Turkish company is in compliance with the objectives of the company.

Authorities have not yet released any communiqués or regulations on how the amended articles will be applied.

Antalya hotels filled to capacity and its only June Foreign visitor attraction to Turkey's tourism centre of Antalya continues to grow, leading to full hotel occupancy even at the beginning of the summer season, Mediterranean Tourism Hotels Union (AKTOB) Chairman Sururi Çorabatir has said. Tourism growth has seen a remarkable acceleration in the last five months, and this growth continued in June, Çorabatir said, adding: "Antalya hotel occupancy rates are at the highest levels. Even finding a single room is difficult. We expect high occupancy to continue until mid-October." The chairman underlined that seasonal occupancy rate peaks had already been reached: "Antalya has entered high-occupancy season. Not only five-star hotels, but other accommodation facilities are also expected to reach 100 percent occupancy soon." The region rightly deserves the visitors it hosts from around the globe, Çorabatir said, and the number of tourists from the Commonwealth of Independent States (CIS) in particular has increased significantly. The number of tourists from European countries has grown between 6-8 percent and the number of tourists from the Commonwealth of Independent States has increased between 25-30 percent so far this year. Antalya has the capacity to serve conference and sports tourism, the chairman said, with its conference halls that can seat a total 118,000 and facilities for the 1,500 sports teams it hosts each winter. Hotels can operate at full capacity during the winter as well as the summer, he said. TODAYS ZAMAN 24 JUNE 2008 (Abridged)

TURKEY prepares itself for a record-breaking summer tourist season

TURKEY prepares itself for a record-breaking summer tourist season, with 25 million visitors expected by Turkish officials this year, the country’s property market looks set to attract a record number of British buyers too. Land Registry figures show over 74,000 foreign property owners in the country. Although way behind the established property spots like France and Spain in terms of the number of buyers, up-start Turkey has moved from being a relatively unknown emerging market for adventurous buyers to achieve a regular spot in the top ten most popular destinations. This trend looks set to continue with a Nat West survey of British mortgage lenders identifying it as the third most popular country to buy property in the next three years. So what is fuelling this interest? Turkish property is still excellent value, with high-quality apartments from as little as €35,000 still available in some of the coastal resorts. Huge investment is being channelled into the development of the coastal areas as part of the government’s plans for Turkey to become one of the world’s top five tourist destinations by 2023. On the ground, this means new airports, roads, golf courses, marinas and hotels- all of which have a very positive effect on the desirability of Turkish property and values. In addition to the million-plus British tourists that visit Turkey each year, the pleasant Mediterranean climate, relaxed way of life and low cost of living are attracting a growing number of permanent British residents and retirees. A British pension can support an excellent standard of living and the quality of private healthcare is high with modern clinics and hospitals with English-speaking staff in the main resorts. The availability of new finance options, with several Turkish and European banks now offering 60-100% mortgages for new and off-plan properties, is an important factor increasing demand from foreign buyers. Interest rates on sterling mortgages typically start from 8.5%, so although a Turkish mortgage may sound attractive, raising money back home is by far the cheapest option. Don’t be tempted by the lower rates on euro mortgages, because unless your income is in euros you will be exposing yourself to changes in the euro-pound exchange rate – something that could cost you dearly if current trends continue. Many mortgage brokers will forget to remind you about this potential pitfall! The temporary freeze on the issuing of title deeds to foreigners, ordered by the Turkish Constitutional Court on April 16th while the government redrafted parts of the legislation relating to foreign purchases, should come to an end soon. The changes to the amount of land foreigners can buy have been approved by a parliamentary committee and are now waiting to be published in the Official Gazette – the wheels of the Turkish bureaucracy grind slowly forward! Under the amended legislation foreigners can own up to 10% of an officially zoned area only, instead of 0.5% of any of the country’s provinces. So the changes will have absolutely no affect on the vast majority of foreign buyers. Unlike in 2005, when a similar stop on foreign purchases dragged on for over 5 months, the current freeze seems to be having little affect on the market. According to a Europe-wide report by Savills Research, property values in Turkey increased by an average of 15.5% each year from 2002-2006, with industry experts expecting 15-20% increases in 2008. However, an over-supply of property in some areas means that not all the resorts are a good buy. When purchasing new or off-plan property take care to buy from an established developer with a high build quality. Location and communal facilities, if you are buying on a development, are all important when you come to rent or resell the property too.

Turkey Tops For Golf

Turkey is a winner for the 2008 IAGTO Golf Tourism Awards

Turkey: On receiving the Golf Destination of the Year Award for Europe. Ali Sahin, Director of Golf, Cornelia Golf Club & IAGTO Turkey Chapter Chairman said: "We are very proud and happy to win this award. The award means we have achieved something because we have worked very hard over the last 10 years. We started off with just one course in Turkey, and now we have 14. Over the next two or three years there will be about 30 courses throughout Turkey."

Turkey stands out with its tasty real estate market

Turkey stands out with its tasty real estate market Tue, 15 Apr 2008 10:05:00
When it comes to buying a holiday home or investment property in the Mediterranean, most people tend to think of Spain or Italy. But Turkey, with its stunning scenery and wealth of antiquities, is fast emerging as a new property hot spot. Straddling Europe and Asia, Turkey is blessed with some of the best coastline in Europe, especially in the country's southwestern corner where the Mediterranean and Aegean seas meet. With Turkey expected to join the European Union within the next decade, property experts say those who get in early stand to see a substantial return on their investment. The combination of rapidly rising house prices and Turkish property market reforms has made the country an increasingly popular destination for international investors. Five years ago the government passed legislation making it possible for non-Turkish citizens to buy property. Since then, foreigners have spent more than $7.2 billion on an estimated 30,000 homes, according to the Turkish government. Over the last year alone property sales to foreigners soared by 59% to $2.9 billion. Moreover, recent changes in legislation have also created the country's first ever mortgage market. As a result, it is now possible to get a mortgage at interest rates that are roughly 50% less than the traditional home loans buyers used in the past. "Now that the government has made it easier for foreigners to buy, demand is soaring," says Ahmet Rauf Saatci, chief executive of real estate agency in Istanbul. Bright Spots The sunny Mediterranean climate is only a small part of Turkey's attraction. For starters, property prices are on average 30% to 50% less than those found in more well-trodden hotspots such as the Spanish, French, and Italian coasts. Property experts compare the country to the Spanish property market in the 1970s. And London-based international real estate agency Knight Frank predicts property prices will increase by 12.5% in 2007. Not only is it cheaper to buy, it is also much cheaper to live. Economists reckon that the cost of living is between 40% and 60% less than in continental Europe. And according to the Organization for Economic Cooperation and Development, Turkey is the fourth least expensive place to live in a recent survey of 30 member countries. The vast majority of international buyers are focusing mainly on coastal resort towns. Towns such as Bodrum, Marmaris, and Fethiye, all long-popular with vacationing Turks and Europeans alike, have experienced a development boom. Over the last five years, numerous modern apartment complexes and gated private communities have sprung up to cater to demand. Good Returns Turkish real estate company Seaside Properties Turkey exclusively markets its portfolio of modern villas and apartments to Europeans. Since ownership laws for foreigners have been liberalized, interest in investment properties in the Bodrum Peninsula has accelerated, according to Seaside Properties Turkey Those who have bought properties in Turkey are already seeing good returns. Over the last year, prices in coastal areas have appreciated between 30% and 50%. New, modern, gated developments with pools and other amenities such as tennis courts are in high demand. Take the seaside resort town of Antalya. Fifteen months ago, Umit Sutoglu, a real estate agent with Turyap Lara in Antalya, recalls how one of his clients bought two three-bedroom homes in Antalya for $112,000 each. Within one year, he sold one of the homes for $272,000, pocketing well over 100% profit on the deal, Sutoglu says. Returns in Turkey's big cities, such as Istanbul, Ankara, and Izmir, are more conservative but still attractive, averaging 10% to 15% a year. Turkey's biggest and most expensive city, Istanbul, offers yields of around 9%, says Century 21's Saatci. "But in Istanbul's new suburbs such as Beylikduzu, Cekmekoy, and Umraniye, returns can climb to 20% or more." He says foreign buyers are increasingly heading to these newly developed suburbs to buy land and build themselves. Straightforward Sale The buying process is straightforward. There are no restrictions for Americans or European Union citizens on buying property in Turkey. Most experts recommend consulting a local solicitor to handle the conveyancing and contracts. Typically buyers can expect to pay 25% of the purchase price as down payment. Additionally, purchasers need to factor in taxes—which run 0.3% for houses 150 square meters and less—plus real estate agent commissions of around 5% to 10%, and legal fees of approximately 10% of the purchase price, says real estate agent from Lara. If you are buying the property to rent, expect to pay 20% tax on the rental income to the Turkish government. If you hold the property for more than four years, you will be exempt from capital gains. But if you decide to sell before then, you will pay 20% capital gains tax locally. Sounds like it's time to board a big bird to Turkey

Apartments from €35,000

Property News:
Quality, comfort and certainty now available from € 35.000,-
Kurt,Safir&Saray exceed themselves again, this time not only in quality, but also in price.In September of this year we will start building our latast projects, which are for sale now already off plan. These projects have the same finish and quality as all our previous projects. The only difference are the significant lower prices. This is the opportunity for evryone to invest or to buy now.

Starting price from € 35.000,for large One Bed- and Two Bed start from € 41.000.
You have a choice out of 1-bedroom apartments, 2-bedroom apartments or fabulous penthouses with spacious living and open plan kitchen, offering you acces to the enormous roof terrace.

Location:
These projects are built in Mahmutlar, a cosy town, that have been developed to one of the most popular places in Alanya. Pleasant walks over the recent constructed boulevard, beuatiful cycling tours in the mountains, a refreshing dive in the Mediterranean Sea or shopping in the new shopping area’s. It’s all possible in Mahmutlar!Quality, luxery and comfort in breath taking surroundings on the Turkish Riviera is affordable now for everyone. Don’t miss this opportunity!

ANKARA - A law banning smoking in public places came into effect on Monday in Turkey -- a country where nearly two-thirds of men smoke.

But media reports said the ban appeared to be having little effect, with television channels showing pictures of supporters still puffing away freely at public events marking a public holiday across the land.

The law was passed by the Turkish parliament in January, and prohibits lighting up in government offices, workplaces, shopping malls, schools, stadiums and hospitals.

There are exemptions for special zones in psychiatric hospitals, retirement homes and prisons, whilst smokers will be allowed to light up in designated smoking rooms in hotels.

Cafes and restaurants will also benefit from a transition period, with a total ban only applying to them from July 2009, while organisers of sporting events or concerts may provide smoking areas.

Any establishment defying the ban will receive a written warning, followed by a fine of up to 5,000 Turkish liras (2,700 euros, 4,000 dollars).

An individual caught illicitly smoking risks a fine of 50 liras (26 euros, 40 dollars).

Around 60 percent of men and 20 percent of women are smokers in Turkey, which is also an important producer of tobacco, with tobacco-related diseases blamed for a fifth of all deaths.

Smoking is already banned on public transport, and the advertising of tobacco is prohibited.

However, in such a nicotine-addicted country, the law has seldom been rigorously enforced, even though an opinion poll published by the Sabah newspaper showed 85 percent of people in favour of the new ban.

Already some deputies who voted for the law have privately indicated they intend to enjoy a smoke within the parliament building -- despite the ban.

The full extent of compliance with the new legislation will only be apparent on Tuesday when public offices reopen after the holiday for the anniversary of Kemal Ataturk's campaign to free Turkey of occupying powers after World War One.

But experts said it would be extremely difficult to break with old cultural habits.

"Drinking a coffee and smoking a cigarette after a meal is a ritual," Selcuk Candansayar, a professor at Ankara's Gazi medical school, told the NTV television channel.

"It's a tradition that has to be broken."

ba/mb/ach

05/19/2008 13:06 GMT

Antalya region ranks first in the total number of foreigners who have bought property with 24.4 percent of the total.

Property News:
I said it all before, now it is fact!

Alanya district of the Antalya attracts foreigner buyers

According to research conducted by the Alanya Chamber of Commerce and Industry (ALTSO), Antalya region ranks first in the total number of foreigners who have bought property with 24.4 percent of the total.

The research also shows that Alanya is the district of Antalya foreigners prefer the most. Antalya has witnessed the sale of 17,850 houses to the foreigners, 12,331 of which are located in Alanya. However, the district is not so popular for land sales; the number of land sales to foreigners is 20,903, only 501 of which were in Alanya. This comprises only 2.4 percent of the total number of land sales.

“The results of the research by ALTSO show that Alanya is the most favourite place for foreigners to purchase houses in Turkey, while the district is not as much preferred for the purchase of land,” said Kerim Taç, chairman of the Alanya Chamber of Commerce and Industry, who noted that there is no need to worry about property sales to foreigners. “Foreign people preferring Antalya and Alanya to invest in will contribute to the further development of the district. We hope that the new regulations will facilitate us to make good use of this opportunity,” added Taç.
ALANYA – Anatolian News Agency (Abridged)
Thursday, May 1, 2008

Property News: Alanya district of the Antalya attracts foreigner buyers

According to research conducted by the Alanya Chamber of Commerce and Industry (ALTSO), Antalya region ranks first in the total number of foreigners who have bought property with 24.4 percent of the total.

The research also shows that Alanya is the district of Antalya foreigners prefer the most. Antalya has witnessed the sale of 17,850 houses to the foreigners, 12,331 of which are located in Alanya. However, the district is not so popular for land sales; the number of land sales to foreigners is 20,903, only 501 of which were in Alanya. This comprises only 2.4 percent of the total number of land sales.

“The results of the research by ALTSO show that Alanya is the most favourite place for foreigners to purchase houses in Turkey, while the district is not as much preferred for the purchase of land,” said Kerim Taç, chairman of the Alanya Chamber of Commerce and Industry, who noted that there is no need to worry about property sales to foreigners. “Foreign people preferring Antalya and Alanya to invest in will contribute to the further development of the district. We hope that the new regulations will facilitate us to make good use of this opportunity,” added Taç.
ALANYA – Anatolian News Agency (Abridged)
Thursday, May 1, 2008

Property News
Turkey’s Mediterranean Antalya region is twice as popular as the Aegean Mugla region for foreigner buyers.
According to figures released by the Land Registry General Directorate, 73,000 foreigners own 38.42 million square meters of real estate in Turkey. In terms of the number of foreigners owning real estate, Antalya again tops the list with 26,031 persons, followed by Mugla (12,865), Istanbul (8,830), Aydin (7,415), Bursa (5,241) and Izmir (4,145). Mugla has 12,865 foreign property owners, 10,039 of which are Britons. The amount of land owned by Britons totals 2.66 million square meters, according to the Land Registry. In Istanbul 3,807 Greeks bought 3,804 pieces of property with a total size of 509,342 square meters. A total of 8,830 pieces of real estate are owned by foreigners in Turkey's biggest city. Greeks also hold the lead in foreign-owned real estate in Bursa. Of Bursa's 5,241 foreigners 4,819 are Greeks, and they own 1.16 million square meters of property.

Airport will be big for Alanya!

Last week's announcement that Tepe Akfen Airports Holding (TAV) won the right to operate Gazipasa Airport near Alanya has started an investment boom in the region as foreign and Turkish investors alike are rushing to build tourism facilities, hotels, and residence complexes. One of the upcoming projects is a golf court near Gazipasa.

Andy Lawler, owner of Remax Star Real Estate in Alanya\'s Mahmutlar area, told the Turkish Daily News that last week two UK and two Irish investors combined forces and invested 100 million euros in a golf court to be built close to Gazipasa.

The plan is to attract new kinds of tourism to Alanya and Gazipasa. A golf court in the area is bound to be a successful investment as at present the nearest golf courts are hours away in Belek,” said Lawler, who has a minority stake in the project.

The golf court is expected to open in 2009. At present the project\'s paperwork is being handled by the local land registry.

The golf court consists of 100 hectars of land, 40 of which belong to the government and 60 hectars that will be bought from private owners. “The building of one court in the area will definitely lead to the building of at least two others as players of golf prefer variety,” explained Lawler.

He also noted that news of the Gazipasa Airport opening in the near future has created a lot of enthusiasm among property developers in Alanya. “The opening of the airport will undoubtedly change the whole character of Alanya and Gazipasa. Many people were waiting to see what would happen with the airport before investing in the region,” Lawler said.

Already now there are numerous plans to build, for example, residence complexes and five star hotels in Gazipasa where, at present, there is a relatively small variety of upmarket accommodation facilities.

Also the taxi boat service that is planned to connect Kas and Kalkan with Gazipasa is bound to lead to increased numbers of visitors to the region. “It seems that in the next 10 years we will see major development in the region,” Lawler noted.

The price of property has notably increased in the just the first week after the announcement of the opening of Gazipasa Airport. “Since the announcement, we have seen a 20-25 per cent increase in real estate and land prices. For example, land plots in Gazipasa that cost YTL 100,000 a while ago, today are priced at YTL 120,000 and even YTL 150,000,” said Nükhet Davies, sales manager at Cebeci Construction in Alanya.

Within the next six months, property prices will experience an even more dramatic rise. This is very good for the market which, for a while, was experiencing a temporary slowdown.

Sari Syrjala, property agent at 2Base Real Estate in Alanya agrees. “The opening of the Gazipasa Airport will have a direct impact on sales,” she said, adding, “Whereas before Alanya residents had to travel several hours to the Antalya Airport, going to the airport will now take just a half hour. The local real estate industry is very pleased with the opening of the airport.

20-03-08

Newsletter Oba Crown Resort




Oba Crown Resort almost completed

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The completion and the first handovers in Oba Crown Resort are getting closer rapidly. We have added the latest photos to our website.

Click here to see the latest photos 

  

With prices starting from 94.500 euros you could be an owner of a beautiful 2-bedroom apartment in a superb area and enjoy all the comfort inside as well as outside your apartment.

We also offer spacious 3-bedroom apartments starting from only 115.000 euros. These apartments offer up to 150 m2 of net living space.

Many extras

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You only pay this price and nothing else! Lots of luxurious facilities, for which you would be charged extra in Ireland or in the UK, are all included with us.

As standard finish we offer you the following:

- At least 2 bathrooms, each supplied with a lavatory and a shower cabinet and/or Jacuzzi including bathroom accessories.
- A fully equipped modern kitchen with with built in appliances.
- Light switches with dimmers.
- Integrated roller shutters in each window frame.
- Insect screens in each window frame.
- Tap with cleanout drain on the balcony.
- Floors fit with highly polished granite tiles.
- Connectors for TV and telephone in each room.
- Reception of Irish and UK channels through a central Astra dish.
- Solid turn-tilt windows in each room equipped with double isolated glass.

Response of recent buyers

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Do you want to know why people have bought in Oba Crown Resort and how they have experienced everything? Have a look at our guest book. We gladly introduce them to you if you want this. We have confidence in our product and you have the right on an objective opinion.

Click here to read the most recent responses on Oba Crown Resort 

  


Contact and inspection

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However we can imagine your wish to orientate widely and yet also want to come to Turkey for an inspection trip. We would gladly make an appointment with you to introduce Oba Crown Resort to you. 

Of course we can advise you in your home country before you decide to come to Turkey. Our advisors are standby for you!

Click here to contact us 

THE BEST PROPERTY IN ALANYA

Property News:

As its name suggests, Euro Residence V.I.P. means living in a superlative way. It goes without saying that once again you may expect Kurt,Safir&Saray

 excellent quality in building materials and finishing touches. Euro Residence V.I.P., however, distinguishes itself in many ways from our 

previous projects. 

This Luxurious 3 bedroom apartments in dream style finish, directly on the beachfront. This is as good as it gets, as good a villa with, but with great f

acilities, that are listed below.

Built in a top location, directly on the sea-front and along the River Dim

Direct access to the beach through the tunnel pass under the road 

Beautiful views to the ocean, the River Dim, the Taurus Mountains and the bay of Alanya

 

Facilities

- Health Spa, Turkish Baths, Plunge Pool, Massage area and Sauna 

- Heated indoor swimming pool for the winter months 

- Large swimming pool with 3 great fun slides 

- Outdoor hydro pool, for added comfort and relaxing 

- Great kids pool and play area 

- Tennis, Basketball, Volleyball court combined 

- Electric Gate entrance with 24 hour security. 

- Direct access to the beach from the pool area 

- Mini Golf for all the family 

- Beautiful seated area around the colorful fountain 

- On site Parking with security crammers provided 

- Twin evaluators with sliding doors 

- Two large Bar-B-Q area directly on the banks of the river 

- Reception at Health Centre and at main entrance 24 hours 

- Apartments with phone access 

- Stand-by generator 

New Airport for Alanya

Gazipasa, Alanya and nearby resorts are celebrating the news that Gazipasa has a new owner and is set to open by summer 2008. In a government tender, TAV, a Turkish-owned company, which currently manages three of Turkey’s busiest international airports and also operates boutique airports in Eastern Europe and North Africa, won a 25 year lease in exchange for 50,000 dollars annual rent and 65% of the profits.

A team from TAV have been in Gazipasa and Alanya since the news was announced.  They have been meeting with local officials and planning a construction project which is required to increase the capacity of the current facilities to handle three million passengers annually.  Company officials have announced in the press that the airport will be open to international passengers within a year.  TAV, short for Tepe Akfen Airports Holding, currently mange Istanbul, Izmir and Ankara International Airports.  Having recently lost out on a government tender to manage Antalya International Airport, the company may be determined to provide some serious competition for its rival.

[It is] the most exciting thing to happen to Alanya since the founding of the Turkish Republic”, says Taylan Gundes, managing director of Lesgototurkey Real Estate and Construction Company, in reaction to the news.  His words reflect the air of excitement and surge of hope felt by most businesspeople in Alanya after years of speculation about the airport.  It was the best possible news after a difficult year for real estate and tourism.  Real estate sales had slowed, with construction companies struggling to sell a surplus of empty, new apartments.  But since the news was announced, real estate values have already risen and industry professionals predict a 20-50% increase in prices over the next two years, brining values in line with Bodrum and Fethiya.

“After all the disappointments in the past, I didn’t believe that airport would actually open until I heard that it was TAV who had won the contract” says Taylan.

Richer Tourists
The airport will have a huge impact on tourism and the real estate sector.  Considering that the transfer to Alanya is over two hours on a tour operator coach, the result has been remarkably successful in attracting so many visitors and property buyers – a testament to the charms of the area.  But now it can expect it\\\\\\\'s visitor profile to change.  Already, the airport news has encouraged foreign investors to put down money for golf course development.

Known particularly in Scandinavian countries as a hotspot for nightlife, the shorter twenty-minutes transfer will undoubtedly attract more families to the area.  Alanya will also become accessible to wealthy Turks from Ankara and Istanbul looking for a weekend getaway.  “In Bodrum, rich Turks are raising the quality of tourism because they refuse to accept terrible service and food at all-inclusive hotels.  The same thing will happen here” predicts Taylan.

Travellers should benefit from better service, a wider choice of destinations, and cheaper flight seats, as tour operators and airlines have more bargaining power with two airports serving the same resorts.

Which Airlines?
Foreign residents are impatient to learn which airlines will operate out of Gazipasa.  Gulcin Gunder, president of Alanya’s tourism association (ALTID), made a statement to the press that TAV is already in talks with Easyjet, a low cost UK airline which has routes across Europe.  Easyjet already fly fro the UK to Sabiha Gokcek Airprot in Istanbul.

Alanya patriots are lobbying for the name of the airport to include ‘Alanya’ claiming that Gazipasa isn’t well known outside of Turkey.  So far there has been no official comment from TAV or the Ministry of Tourism regarding the name.
Gazipasa is a 20 minute drive from Alanya and around 1 hour 15 minutes from Side.

EMERGING STAR

EMERGING STAR: TURKEYThe south coast of Turkey. The Turkish Riviera offers great value compared with Spain and Portugal - and its second-home market is growing fast.

Two factors which have so far been holding the area back - poor accessibility and lack of mortgages for overseas buyers, is set to be addressed in 2008.

Turkish Airlines now offer daily flights from Dublin via Istanbul to Antalya. British Airways will start flying into Antalya on April 10. Sun Express now use Antalya as there hob for servicing most European cities. From April to late September there are two direct flights weekly from Dublin to Antalya.

In addition, the news that the airport at Gazipasa will open soon is a major factor.  Routes have yet to be confirmed.

A law allowing foreigners to obtain mortgages is currently being passed through parliament and will bolster the market further in early 2008. 

The Numbers keep going up and up!

The Turkish Statistical Institute has reported that over 27 million visitors went to Turkey in 2007 of which 5.6 million were during the months of October, November and December.

According to the report, tourism expenditure was up a massive 43.9% during the period October to December compared with the same period in 2006. 

Like Spain in the late 1990’s, tourism is and will become a major factor in the increase in demand for holiday home or investment property. 

Source - Turkish Statistical Institute –Republic of Turkey 29 January 2008 

Turkey keeps going up

A PLACE IN THE SUN REVEALS THE UK’S TOP 20 DESTINATIONS FOR BUYING ABROAD: FROM THE SUBLIME TO THE SURPRISING… 
According to a survey published today, in the form of A Place in the Sun magazine’s annual Top 20 buying destinations, despite a raft of emerging markets and USA property prices down 30% on a year ago and a dollar weakened by 25%, it’s the traditional sun-seeker’s favorite Spain that takes the number one spot for the second year running. 

The poll, conducted at the recent A Place in the Sun Live exhibition at the NEC Birmingham, the world’s largest overseas property event of its type, also saw France with its enviable lifestyle maintaining its 2006 second place and Turkey climbing into third position on the back of a wide range of developments marketing in the UK offering great value and year-round sunshine.

Source : Place in The Sun  

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