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Especially due to popular soap operas such as Magnificent Century with a story based on Sultan Suleyman and the Ottoman Empire and the recent work on law of reciprocity’s function, Turkey expects real estate investments to go up to over 100 billion American dollars.
Many Middle East and Gulf citizens prefer to buy property in Turkey either to live or to invest. Luxury residences with facilities and 2+1 apartments are most popular properties at the moment.
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Construction and real estate companies will open a new page in 2012. Along the ongoing projects, main focus will shift to urban transformation.
Successful companies are getting ready to start big scale projects each over 3.000 residences. The well known construction firms such as Sur Yapi, Dumankaya İnsaat, Teknik Yapi and Avrupa Konutlari aim to contribute to their rising sales graphics by moving towards new compound constructions.
On the Anatolian side of Istanbul, urban transformation efforts gain speed. Continuous demands from consumers make construction companies expect to add to their end prices about 10% increase during 2012.
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The chief negotiator and Minister to European Union Mr. Egemen Bagis advised Germans in his speech to German magazine to assess the relationship between the two countries by reviewing the shift in paradigms carefully.
The article narrows on how Germany and Turkey are closely operating on various issues fort he past 50 years and why they will always be strategically important partners.
Since the Labor Force Agreement signed in 1961, many Turks moved to Germany to help them reconstruct the country after the war. Egemen says: “Today there are over 3 million Turkish people living in Germany. This labor force contributed with no doubt additional value to Germany’s economy as it is stated and published by German Migration and Refugee Office in 2005. As a result of this partnership, Germany’s investment in Turkey increase every day. Thousands of retired German citizens moved to Turkey to live. Between years 2002-2010, German citizens purchased 17,270 real estate in Turkey.”
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2011 September ING Mortgage Barometer indicating preferences and tendencies for real estate purchase is announced.
The study carried out by Istanbul Bilgi University and IPSOS included over 800 participants in 14 cities in Turkey. Throughout this survey, people were asked questions to reveal their dynamics and motivation as well as their expectations in economical development.
Number of people who think that economical environment is suitable for purchasing real estate has increased by 4 points compared to previous month. Thus the Barometer is at 82 points as per today.
%52 of people interested in mortgage is planning to use credits from banks by %50 to 70 of the investment value. According to this study, the most preferred term of payment is 72 months.
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Turkey
The experts are predicting a property boom thanks to Turkey’s candidacy for membership of the EU. Planned infrastructure developments around Dalaman on the Mediterranean coast – including the expansion of Dalaman airport, the building of three marinas and the area’s first golf course – has made this an attractive area for buyers. Other areas to watch out for include Istanbul and Antalya.
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Turkey’s rising star Istanbul has been marked by PriceWaterhouseCoopers in 2011 February as first location for both new acquisitions and developments. Considering economic ambiguity and local crisis within the European Union, Istanbul passed its stability test and reassured foreign investors for consistent growth as financial troubles have had lesser impact on Istanbul in terms of real estate investment.
When focusing on Istanbul’s real estate properties, new built residences and business centers play a big role in its success. Areas such as Beylikduzu, Esenyurt and Cekmekoy continue to attract investors by the quality of the constructions as well as the rental guarantee provided. On the other side, prime location Istanbul properties offer already a win and win situation where a fast moving real estate market has its say. Investors and individuals aiming to purchase property at central or prime areas in Istanbul find satisfaction where modern lifestyle of Istanbul and rapid/stable capital growth exists.
Many investors go for low price-easy to rent projects in the new booming areas all over the city. Western side of Istanbul is already discovered and thousands of new buildings are already completed and sold. However few notice the value of investing on the Asian side of Istanbul. Actually after crossing the Bosporus, as a surprise, the Asian side has its share from the constructional development in this mega-city almost as much as the European part. Reconstructing Istanbul Project launched by the Turkish government did catch also here maximum attention from developers and several big scaled constructions are given start. Of course the Parliament’s approval of the Third Bosporus Bridge that will connect the two continents, Europe and Aisa, for the third time accelerated constructional efforts on the Asian side inevitably. Thus, local investors have already initiated the monetary circulation and it seems that Asian side of Istanbul will be mentioned soon much more often when talking about investing in Turkey.
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According to official reports declared at The World (Dunya) newspaper, in 2010 Turkey’s economy hit the growing rate by 8.9 percent and made it to the list as one of the most rapid growing economies in the world. The Turkish Statistics Institute informs that the growth continued in 2011 and has reached 9.2 percent to many investors’ profit. The first quarter of 2012 showed consistent increase trend and carried its arrow above the market estimation.
The two basic hot spots of real estate purchases in Turkey are Istanbul and the southern Turkish riviera that includes Antalya, Kemer, Alanya, Side, Kas, Kalkan, Fethiye and Bodrum. Thus the number and large variety of properties for sale in Turkey enables interested foreigners to chose among the best Turkish real estates for them.
Istanbul draws major attention of many foreign investors as big local and international players of the construction sector put money in numerous solid and wide scaled projects that offer lucrative business for both sides. Also fascinating daily life trends and the natural uniqueness of the city inspires many foreign individuals to purchase in Istanbul to live or to invest. Also many people tend to purchase old, historic buildings to restorate in order to increase property value of the real estate within their own investment plans. The largest trend of foreign purchases though focuses on larger new built or off plan compounds at recently growing neighborhoods where real estate prices ar easily affordable and high rates of investment returns are promised.
The southern Turkish riviera is also a paradise for many Western investors as the area offers fine quality of constructions for quite reasonable prices and simply because of the beautiful climate.
All together, property for sale in Turkey, apartments, villas, lofts, sea front mansions, historical residences or commercial properties will continue growing and turning to maximized investments.
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