Chairman of Didim Estate Agents Osman Coşkun stated that there were 680 registered estate agents in Didim. Coşkun said, “If we take the unregistered ones into account this figure comes over a thousand.”
Osman Coşkun warned the public of the unregistered estate agents and asked them not to work with those for their own good. Chairman of Didim Estate Agents called people to inform the Tax Office of the pirate estate agents.
Osman Coşkun also said that due to excess supply house prices had gone down in Didim and those investors who took advantage of the situation would profit in the future.
Coşkun said: “At present, it is possible to find a double bedroom apartment for 45 thousand YTL in Didim. Investors who put money in real estate will soon make profit because I believe the prices will rise once again when the marina is completed.”
Thursday, June 26, 2008
Agents
Slick, well-dressed, and widely loathed, real estate brokers prospered in Britain's galloping property market for much of the past decade.
But with prices dropping and sales volumes shrinking, the brokers, known here as estate agents, are having to work harder to cut their deals. Many have already lost their jobs.
Now that the global squeeze on credit has burst Britain's property bubble, many brokers find themselves facing hard times.
Brokers' incomes are falling, according to Trevor Kent, a former president of the National Association of Estate Agents and a well-known property pundit. Kent estimated that the average agent might have started off making 50,000 pounds ($100,000) a year in boom times - most of that on the 2 to 3 percent commission brokers make on sales.
"Suddenly they're down to 30,000 pounds ($60,000) or 25,000 pounds ($50,000)," he said. "Some agents have not made a sale in two months."
The Council of Mortgage Lenders said Tuesday that lending to first-time buyers and existing home owners in the first quarter dropped to the lowest level in 30 years, reflecting a sharp drop in the number of homes changing hands.
But with prices dropping and sales volumes shrinking, the brokers, known here as estate agents, are having to work harder to cut their deals. Many have already lost their jobs.
Now that the global squeeze on credit has burst Britain's property bubble, many brokers find themselves facing hard times.
Brokers' incomes are falling, according to Trevor Kent, a former president of the National Association of Estate Agents and a well-known property pundit. Kent estimated that the average agent might have started off making 50,000 pounds ($100,000) a year in boom times - most of that on the 2 to 3 percent commission brokers make on sales.
"Suddenly they're down to 30,000 pounds ($60,000) or 25,000 pounds ($50,000)," he said. "Some agents have not made a sale in two months."
The Council of Mortgage Lenders said Tuesday that lending to first-time buyers and existing home owners in the first quarter dropped to the lowest level in 30 years, reflecting a sharp drop in the number of homes changing hands.
Tuesday, June 24, 2008
Altinkum
Turkey face a crucial Euro 2008 Group A qualifier against Switzerland this evening. However, it's not just on the football pitch that Turkey is facing a critical period.
According to Today's Zaman, an English-language Turkish newspaper, a recent Constitutional Court decision to annul a popular amendment that would have expanded freedoms in Turkey has led to increased uncertainties surrounding the country's political system. This in turn, the paper reports, is having an impact on Turkey's economy.
The Economist magazine recently estimated that the growth rate of Turkey's gross domestic product will be 3.2 per cent by the end of this year, in contrast to previously made Organisation for Economic Cooperation and Development (OECD) predictions which projected Turkey's economic growth rate at closer to 4 per cent for the year.
One way in which the country has expanded its economy in recent years has been from increased property interest from overseas buyers - particularly Brits.
According to Turkish Statistical Institute figures, around 73,000 foreigners own a property in Turkey at present - and not just for investment purposes. The figures showed that 14 per cent of tourists who visited Turkey in the first quarter of this year stayed in their own property, although with property values across the country appreciating at between 20 and 25 per cent a year, there is plenty for the investor to get excited about as well.
Therefore, Turkey's future economic strength could rely largely on continued overseas property interest.
Unfortunately, though, some experts, including investment specialists Assetz, believe that current buying confidence in Turkey at the moment is not as high as it has been. "The Turkish government temporarily suspended the title deeds to foreign investors in April - not for the first time," stated the company's latest quarterly Investment Tracker. "The rental potential is not high enough to attract already wary European investors."
However, according to Julian Walker of Spot Blue, Turkey may hold major appeal to Britain's newest demographic group, known as FREDs.
FREDs are over fifties who are 'facing retirement earnings doubts', and Walker believes that people within this demographic who are in a position to do so will increasingly view an overseas retirement where their pension and savings income will go that much further. And Turkey, he says, would fit this bill.
"Countries that are less likely to be considered now because of the gulf between the buying power of the weak Pound against the mighty Euro are Spain, France and Cyprus – traditionally hugely popular overseas retirement hotspots with British pensioners," says Walker. "Instead, FREDs are looking at where the pound buys them more and where their relatively limited funds will afford them an attractive and even affluent lifestyle in retirement and prevent them having to continue working past retirement age."
He continues: "One country that is proving popular is Turkey; since the nation began EU accession talks at the same time as a national drive was effected to promote the appeal of the country, the numbers of Britons choosing to relocate to the country has soared, and depending on which statistics you prefer to believe, between 12,000 and 30,000 Brits have now made Turkey their permanent home."
One Brit who has already made Turkey his home will be looking to assist with another, more immediate, problem facing the country in the Swiss Alps this evening. London-born Colin Kazim-Richards, who now plays for Istanbul-based Fenerbache having had stints at Bury, Brighton and Hove Albion and Sheffield United, qualifies to play for Turkey through his Turkish-Cypriot mother, and after a fairly impressive game in the 2-0 defeat against Portugal on Saturday, will be one of the men the Swiss will have to keep an eye on tonight.
Many challenges lie ahead for Turkey, on the football field, in its economy, and in its overseas property market. But for a country that has come so far in all these areas in recent years - its football team have qualified for four of the last six major international tournaments having only ever qualified for one prior to 1996 (the 1954 World Cup) - you can be sure it will be up to the challenge.
According to Today's Zaman, an English-language Turkish newspaper, a recent Constitutional Court decision to annul a popular amendment that would have expanded freedoms in Turkey has led to increased uncertainties surrounding the country's political system. This in turn, the paper reports, is having an impact on Turkey's economy.
The Economist magazine recently estimated that the growth rate of Turkey's gross domestic product will be 3.2 per cent by the end of this year, in contrast to previously made Organisation for Economic Cooperation and Development (OECD) predictions which projected Turkey's economic growth rate at closer to 4 per cent for the year.
One way in which the country has expanded its economy in recent years has been from increased property interest from overseas buyers - particularly Brits.
According to Turkish Statistical Institute figures, around 73,000 foreigners own a property in Turkey at present - and not just for investment purposes. The figures showed that 14 per cent of tourists who visited Turkey in the first quarter of this year stayed in their own property, although with property values across the country appreciating at between 20 and 25 per cent a year, there is plenty for the investor to get excited about as well.
Therefore, Turkey's future economic strength could rely largely on continued overseas property interest.
Unfortunately, though, some experts, including investment specialists Assetz, believe that current buying confidence in Turkey at the moment is not as high as it has been. "The Turkish government temporarily suspended the title deeds to foreign investors in April - not for the first time," stated the company's latest quarterly Investment Tracker. "The rental potential is not high enough to attract already wary European investors."
However, according to Julian Walker of Spot Blue, Turkey may hold major appeal to Britain's newest demographic group, known as FREDs.
FREDs are over fifties who are 'facing retirement earnings doubts', and Walker believes that people within this demographic who are in a position to do so will increasingly view an overseas retirement where their pension and savings income will go that much further. And Turkey, he says, would fit this bill.
"Countries that are less likely to be considered now because of the gulf between the buying power of the weak Pound against the mighty Euro are Spain, France and Cyprus – traditionally hugely popular overseas retirement hotspots with British pensioners," says Walker. "Instead, FREDs are looking at where the pound buys them more and where their relatively limited funds will afford them an attractive and even affluent lifestyle in retirement and prevent them having to continue working past retirement age."
He continues: "One country that is proving popular is Turkey; since the nation began EU accession talks at the same time as a national drive was effected to promote the appeal of the country, the numbers of Britons choosing to relocate to the country has soared, and depending on which statistics you prefer to believe, between 12,000 and 30,000 Brits have now made Turkey their permanent home."
One Brit who has already made Turkey his home will be looking to assist with another, more immediate, problem facing the country in the Swiss Alps this evening. London-born Colin Kazim-Richards, who now plays for Istanbul-based Fenerbache having had stints at Bury, Brighton and Hove Albion and Sheffield United, qualifies to play for Turkey through his Turkish-Cypriot mother, and after a fairly impressive game in the 2-0 defeat against Portugal on Saturday, will be one of the men the Swiss will have to keep an eye on tonight.
Many challenges lie ahead for Turkey, on the football field, in its economy, and in its overseas property market. But for a country that has come so far in all these areas in recent years - its football team have qualified for four of the last six major international tournaments having only ever qualified for one prior to 1996 (the 1954 World Cup) - you can be sure it will be up to the challenge.
Monday, June 16, 2008
Golf
FOUR investors have visited Didim this week to investigate the potential of kick-starting the much-vaunted golf course projects.
Two Swedish and two Turkish groups visited the area to look at land off the road on the way to Akbük which has been allocated by government ministers for golf tourism.
The visit on Wednesday (June 11) came two years after Spanish company FADESA investigated the potential of setting up a top quality golf course in Didim, but declined to follow up their interest.
The four investors visited Mayor Mümin Kamacı and the Didim Estate Agencies Association before the association’s deputy chairman Sevim Külekçi took them on a site visit. The investors left Didim the same day.
One investor Fuat Yücel, speaking to Voices Newspaper by phone, said they were pleased with the visit. He added: “We want to be involved in golf tourism with our foreign partners in the Aegean region and we see great potential in Didim.
“We have a planned budget of 20 million Euros for a project, but we still need to investigate other areas in Bodrum and Ayvalık before we make a firm decision.
“If we decide on Didim, we will open the golf course in three years.”
Two Swedish and two Turkish groups visited the area to look at land off the road on the way to Akbük which has been allocated by government ministers for golf tourism.
The visit on Wednesday (June 11) came two years after Spanish company FADESA investigated the potential of setting up a top quality golf course in Didim, but declined to follow up their interest.
The four investors visited Mayor Mümin Kamacı and the Didim Estate Agencies Association before the association’s deputy chairman Sevim Külekçi took them on a site visit. The investors left Didim the same day.
One investor Fuat Yücel, speaking to Voices Newspaper by phone, said they were pleased with the visit. He added: “We want to be involved in golf tourism with our foreign partners in the Aegean region and we see great potential in Didim.
“We have a planned budget of 20 million Euros for a project, but we still need to investigate other areas in Bodrum and Ayvalık before we make a firm decision.
“If we decide on Didim, we will open the golf course in three years.”
Saturday, June 14, 2008
Altinkum
Just as Turkey looks as if it is shaping up to become the next major holiday-home and investment destination, its government has stopped title deeds being issued to foreigners.
Safe as houses: Bodrum Castle overlooks the lively old town. The peninsula is popular with British and Turkish buyers alike
The country did it for six months in 2005, too, in an attempt to prevent large tracts of rural land being bought up. The latest ban - announced in April and awaiting ratification in parliament - has a similar purpose, limiting foreign ownership to 10 per cent of the land in any town.
Agents selling in Turkey expect the restriction to be lifted soon. "I don't see it as a problem, as you could never expect to receive your title deeds within three months anyway," says Julian Walker from Turkish property specialist Spot Blue. "For anyone buying now, the suspension will have ended by the time they reach completion."
Even 10 per cent foreign ownership of land is a high figure that is unlikely to ever be met, Walker points out. "Even in Spain, 95 per cent of sales are to the domestic market. In Turkey, there are 77,000 foreign property owners out of a population of 77 million, which is 0.1 per cent, so 10 per cent is light years away," he says.
"You have to remember Turkey is a poor country, 20 years behind the West in its property market, laws and business practice. And even though finance is available, it is also still typically a cash market."
advertisementApart from this blip, Turkey's property market is proving resilient, with prices expected to rise by 10-15 per cent this year, says Knight Frank.
The currency exchange company Moneycorp reports that British interest in Turkish property has trebled in the past year. A NatWest survey of mortgage lenders predicts that Turkey - where 22,650 Brits own property - will be the third most popular
destination for UK buyers in the next three years, with most sticking to the area between Kusadasi on the Aegean coast and Alanya on the Med.
In its attempts to double tourist numbers to 10 million by 2010, the Turkish government is investing in infrastructure and attractions, including new golf courses in Dalaman and Belek.
It is also encouraging new air routes and airport expansion. EasyJet now flies to Dalaman and Istanbul, BA to Antalya. A new international airport at Edremit will open up areas around Ayvalik, north of Izmir - until now, despite good beaches, great windsurfing and attractive property, the preserve of Turkish buyers.
Beyond its appeal as a value-for-money location for holiday homes - outside pricier Istanbul or Bodrum, the average two-bedroom apartment costs £35,000-£90,000 - Turkey is also drawing investors to Istanbul, where new development is taking place on both sides of the Bosphorus.
Prices average about £700-£900 per square metre, with studios from £40,000 in developments such as Life Studio near Ataturk international airport (through The Right Move Abroad), or Astrum Towers, six miles from the airport, which agent Regnum predicts will see annual growth of 30 per cent.
So, this Christmas - or whenever the restrictions ease - why not vote for Turkey?
BODRUM FAR FROM HUMDRUM
Lively resorts, leisure facilities and low-priced newbuild properties make the Bodrum peninsula one of Turkey's best-known areas for British visitors, while quieter spots such as Yalikavak and Gumusluk appeal to wealthy Turkish property buyers wanting £1m-plus villas.
"Bodrum is one of the most popular coastal regions," says Jane Griffiths, managing director of Regnum, "and Turkey's appeal is widening to take in growing numbers of Eastern European holidaymakers as well as British. Small apartments can achieve rents of £300 a week."
source http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2008/06/14/opturkey114.xml&page=2
Safe as houses: Bodrum Castle overlooks the lively old town. The peninsula is popular with British and Turkish buyers alike
The country did it for six months in 2005, too, in an attempt to prevent large tracts of rural land being bought up. The latest ban - announced in April and awaiting ratification in parliament - has a similar purpose, limiting foreign ownership to 10 per cent of the land in any town.
Agents selling in Turkey expect the restriction to be lifted soon. "I don't see it as a problem, as you could never expect to receive your title deeds within three months anyway," says Julian Walker from Turkish property specialist Spot Blue. "For anyone buying now, the suspension will have ended by the time they reach completion."
Even 10 per cent foreign ownership of land is a high figure that is unlikely to ever be met, Walker points out. "Even in Spain, 95 per cent of sales are to the domestic market. In Turkey, there are 77,000 foreign property owners out of a population of 77 million, which is 0.1 per cent, so 10 per cent is light years away," he says.
"You have to remember Turkey is a poor country, 20 years behind the West in its property market, laws and business practice. And even though finance is available, it is also still typically a cash market."
advertisementApart from this blip, Turkey's property market is proving resilient, with prices expected to rise by 10-15 per cent this year, says Knight Frank.
The currency exchange company Moneycorp reports that British interest in Turkish property has trebled in the past year. A NatWest survey of mortgage lenders predicts that Turkey - where 22,650 Brits own property - will be the third most popular
destination for UK buyers in the next three years, with most sticking to the area between Kusadasi on the Aegean coast and Alanya on the Med.
In its attempts to double tourist numbers to 10 million by 2010, the Turkish government is investing in infrastructure and attractions, including new golf courses in Dalaman and Belek.
It is also encouraging new air routes and airport expansion. EasyJet now flies to Dalaman and Istanbul, BA to Antalya. A new international airport at Edremit will open up areas around Ayvalik, north of Izmir - until now, despite good beaches, great windsurfing and attractive property, the preserve of Turkish buyers.
Beyond its appeal as a value-for-money location for holiday homes - outside pricier Istanbul or Bodrum, the average two-bedroom apartment costs £35,000-£90,000 - Turkey is also drawing investors to Istanbul, where new development is taking place on both sides of the Bosphorus.
Prices average about £700-£900 per square metre, with studios from £40,000 in developments such as Life Studio near Ataturk international airport (through The Right Move Abroad), or Astrum Towers, six miles from the airport, which agent Regnum predicts will see annual growth of 30 per cent.
So, this Christmas - or whenever the restrictions ease - why not vote for Turkey?
BODRUM FAR FROM HUMDRUM
Lively resorts, leisure facilities and low-priced newbuild properties make the Bodrum peninsula one of Turkey's best-known areas for British visitors, while quieter spots such as Yalikavak and Gumusluk appeal to wealthy Turkish property buyers wanting £1m-plus villas.
"Bodrum is one of the most popular coastal regions," says Jane Griffiths, managing director of Regnum, "and Turkey's appeal is widening to take in growing numbers of Eastern European holidaymakers as well as British. Small apartments can achieve rents of £300 a week."
source http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2008/06/14/opturkey114.xml&page=2
Tuesday, June 3, 2008
Bodrum holiday homes
Owning property in Muğla's Bodrum district, on the Turkish Riviera, not only offers a profitable means of investment but also assures an enjoyable holiday opportunity for local and foreign tourists alike.
Having the potential to attract many property investors from all over the world, Bodrum has been a popular tourist destination for years. One of the key factors prompting investors to choose Bodrum is the reasonably priced property, especially when compared to other Mediterranean countries such as Spain, France, Greece and Italy. Although domestic investors find the prices too high, they provide a good investment opportunity.
Prices expected to increase more
Prices will rise enough to compete with Spain's Mallorca and France's Saint Tropez regions soon, according to property experts. Property in the district is evaluated on the dollar and euro basis even today. The increase in property prices is expected to continue until it reached the level of rival countries.
Bodrum's specific architectural design defines the house characteristics of the district. The new housing projects are carried out without harming the historical structure of Bodrum that is famous for its whitewashed houses and special gardens. Construction firms that are gaining ground as a result of the increase in domestic demand can now undertake projects well enough to compete with their counterparts in Europe and the United States.
Summerhouses a new trend
Close attention to Bodrum's construction firms has drawn the attention of many large corporations that operate in such big cities such as Istanbul, Ankara and İzmir. However, the rising property prices as a result of the excessive demand led the firms to launch apartment housing projects rather than villas. With the comfort of villas, the apartments have gardens as well as swimming pools, and most of them are designed as duplex houses.
Having the potential to attract many property investors from all over the world, Bodrum has been a popular tourist destination for years. One of the key factors prompting investors to choose Bodrum is the reasonably priced property, especially when compared to other Mediterranean countries such as Spain, France, Greece and Italy. Although domestic investors find the prices too high, they provide a good investment opportunity.
Prices expected to increase more
Prices will rise enough to compete with Spain's Mallorca and France's Saint Tropez regions soon, according to property experts. Property in the district is evaluated on the dollar and euro basis even today. The increase in property prices is expected to continue until it reached the level of rival countries.
Bodrum's specific architectural design defines the house characteristics of the district. The new housing projects are carried out without harming the historical structure of Bodrum that is famous for its whitewashed houses and special gardens. Construction firms that are gaining ground as a result of the increase in domestic demand can now undertake projects well enough to compete with their counterparts in Europe and the United States.
Summerhouses a new trend
Close attention to Bodrum's construction firms has drawn the attention of many large corporations that operate in such big cities such as Istanbul, Ankara and İzmir. However, the rising property prices as a result of the excessive demand led the firms to launch apartment housing projects rather than villas. With the comfort of villas, the apartments have gardens as well as swimming pools, and most of them are designed as duplex houses.
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