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Have you considered getting away from it all and living
'the good life?' Instead of buying a
property without knowing all the ins and outs of
living in Turkey, long term rental is a sound
alternative to find out whether this country
lives up to your expectations. www.turkeyparadise.eu/ will provide you with up to date news concerning the Turkish real estate market and the changing legislation regarding expats, so keep your eyes peeled and tune in regularly. |
12/2011 Expat news
There has been some terrific news for expats residents in Turkey. As of 1st April 2011, resident visas have come down from in excess of £300 a year to under £50. The consulates are working hard to make life easier and currently free health care for Brits is being negotiated, so do check with our news section regularly.
12/ 2011 Economic news
Turkey continues to gather momentum while other economies continue to struggle. The country is now amongst the BRIC countries for growth and development and that trend will continue for quite some time to come. There has been more certainty within the political spectrum giving the country a new constitution overwhelmingly supported by the populous. The changes are dynamic and very rapid, combined with a relatively low inflation and a stable currency means that Turkey continues to be a terrific place to invest. Of course, it's also a fantastic place to holiday or to live "the good life"!
12/ 2011 Retirement
Turkey: New retirement hotspot
Britons looking to retire abroad are flocking to
the Aegean Coast of Turkey, it has been
reported... Turkey's climate and euro free
currency are obvious attractions to the region,
persuading many Britons to invest in Turkish
property and/or move overseas. It has been
reported that one in eight British people over
55 will live abroad by next year.
But the increase in the strength of the euro has
made many wary of moving to popular retirement
destinations such as Spain's Costa del Sol, and
the collapse of the US property market has also
made would be retirees' think about alternative
destinations.
People are now looking to invest in Turkish
property on the Aegean Coasts which is where a
large quantity of the 20,600 British owned
properties are located and where the cost of
living is said to be 60 per cent cheaper than
the UK.
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11/ 2011 Turkey voted Frommers favourite for 2012 Amongst a list of 10 destinations compiled by Frommers, Turkey was announced as the reader's top destination to visit in 2012, despite being up against strong contenders such as Paris, Italy and Hawaii. According to the leading guidebook publisher and travel website, 51 per cent of readers quizzed about their top destinations to visit in 2012 voted in favour of Turkey. Described as a Frommers 'favourite' since the publication of Turkey on $5 a Day in 1971, the nation's economic powerhouse, Istanbul, has been marked as one of the world's most cosmopolitan cities as well as one packed with a rich Byzantine history, divine architecture, fantastic street food and one-of-a-kind shopping'. Ray Withers, Director of Turkish property investment experts Property Frontiers comments, "With Turkey becoming one of the biggest success stories of late having emerged as a sound economic marketplace underpinned by an already thriving tourism industry, positive acclaim from a leading and trusted source such as Frommers will certainly help propel the nation even further, much to the delight of foreign property investors." Further positive news arrives from the latest REIDIN.com index which has revealed that Turkey has experienced an increase in the value of residential property with average house prices rising by 0.73% in September 2011 compared to the previous month, while rental values jumped by 0.90% across the same period. Meanwhile, the Turkish construction sector has grown by 13.2% in the second quarter of 2011 according to data released by the Association of Real Estate Investment Companies (GYODER) with property sales reaching 107,308 in the country in the second quarter of 2011, an increase of 17.8% over the first quarter. With this in mind, the projected demand of 2.9 million houses by 2015 has led investors into the lucrative Buy-to-Let world where there is high demand for good quality rented housing in Istanbul and surrounding areas. Those looking to invest in a key asset class in the proven market of Istanbul can also look no further than the booming student accommodation sector. With University Dormitories and Government Funded Dormitories accounting for only 12.7% of rising student housing demand, a shortfall of housing stock for around 254,000 students has emerged and the new student accommodation development HAN Florya, located in the booming western suburb of Küçükçekmece, will provide an optimum opportunity to capitalise on the growing demand for student housing. 09/2012 Naomi Campbell builds eco house on Aegean island in Turkey Every architect on the planet would probably love to have an assignment like this one, and Luis de Garrido from Spain, ostensibly free of budget or creative restrictions, ran with it. The multi-level central dome is framed with steel and clad in glazed glass panels that permit sunlight all year round. Although the greenhouse effect promotes natural heating, certain measures such as landscaping and tilted louvers ensure that the heat is bearable during the summer time. Steps have also been taken to provide plenty of ventilation. Combined with the photovoltaic panels that make up the propertys Eye of Horus shape, a state-of-the-art geothermal system provides all of the energy this 25 bedroom home (complete with five lounges) could possibly need. Rainwater is harvested, and an on-site biological system treats wastewater. Inside, the house is a landscaped terrace, from which it is possible to take in the incredible views. Perhaps the only question remaining is this: how do we become best friends with Naomi so we can camp out on Cleopatra Island when the apocalypse comes?
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