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Old 22nd September 2006, 09:36   #1 (permalink)
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Overseas Property investment report

We are members of an international property alerts site run by a reputable expert Ian Maitland who has his finger on the pulse re trends.

He has just said the the interest in Turkey property investment is picking up and the trickle into his mailbag has increased to a flow in recent weeks.
The serious property investors are moving away from the Bodrum,Kadusaki and Altinkum region and moving south to the Fethiye to Alanya area and this is where the smart money is going now.
The long process towards Turkey,s possible accession to the EU is a long term dangling carrot and that coupled with the climate and competitive prices will keep the market in good shape for expansion particularly in the new areas

This cheered us up and we wondered whether Dalaman,s terrific new airport and the Gocek Tunnel has made a difference.

Last edited by Terry the Celt; 22nd September 2006 at 09:38..
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Old 22nd September 2006, 09:59   #2 (permalink)
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Re: Overseas Property investment report

Hi T&S. I have heard of this chap. Others have a different view of him eg Singing Pig http://www.singingpig.co.uk/forums/97756/ShowPost.aspx

I don't know about Alanya, but there is nothing in the local (Fethiye) market to indicate anything better than a stagnant housing market, with many examples of price reductions - which I guess might be interpreted as a buying opportunity.
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Old 22nd September 2006, 10:11   #3 (permalink)
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Re: Overseas Property investment report

Quote:
Originally Posted by immac
Hi T&S. I have heard of this chap. Others have a different view of him eg Singing Pig http://www.singingpig.co.uk/forums/97756/ShowPost.aspx

I don't know about Alanya, but there is nothing in the local (Fethiye) market to indicate anything better than a stagnant housing market, with many examples of price reductions - which I guess might be interpreted as a buying opportunity.
We take your point Ian but he has been going for 30 odd years in property and seems to defend himself well on "Singing Pig" re that one development and his response so we shall see.
As a person who has always been told that Bodrum is the" be all and end all" it was nice to see Fethiye get a boost and a lot of people read his reports so who knows??

We have just got back and love Fethiye anyway
The new airport is brilliant and the tunnel Wow!! so if others think like us watch this space!!
Since back we have heard several families who returned from Turkey saying what a difference the new airport and tunnel make.
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Old 22nd September 2006, 10:53   #4 (permalink)
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Re: Overseas Property investment report

Ditto immac's comments.

A few emlaks appear to be doing OK, but a higher proportion I suspect aren't. The market's been pretty flat in this area for some time now and the resale market, according to one of my emlak clients, is dead.

Is it a buyers market? Yes, but it depends who you are buying from. Unless they're desperate for cash most Turkish sellers tend to hang on and hope things pick up again. Foreign owners appear to be more amenable to an offer, even if it is a silly one it's always a starting point.

No comment re Mr Maitland.

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Old 22nd September 2006, 11:16   #5 (permalink)
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Re: Overseas Property investment report

Regarding the housing market, prices seem to have shot up over the last 7-8 months, are developers getting greedy and the market has stagnated or has demand for property driven prices up?
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Old 22nd September 2006, 11:50   #6 (permalink)
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Re: Overseas Property investment report

I think they anticpated a rush of buyers this year and they havent
materialised
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Old 22nd September 2006, 13:47   #7 (permalink)
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Re: Overseas Property investment report

I watched some emlaks/developers put prices up weekly before any were even sold, on the hope that plane loads of buyers were on their way.
I asked some why are you putting the prices up and one develpoer said because you Europeans are rich and have lot of money.
Impossible to get him to understand he was been greedy and would bring the sales to a sudden halt. He just kept saying but you English people are rich,
So when they all now moan about they cant afford to buy their own properties then whose fault is it?, they have become victims of their own success.
We also have to remember that some European countries have only been buying in Turkey for 3 years, so it is a whole new situation for them, and quite right it is now a buyers market, you can basically name the deal, if it doesnt suit you walk away and onto the next agent, there are hundreds of them trying to seel , and soon hundreds may close due to the sudden fall in sales.
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Old 22nd September 2006, 14:05   #8 (permalink)
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Re: Overseas Property investment report

Quote:
Originally Posted by lewismark
I watched some emlaks/developers put prices up weekly before any were even sold, on the hope that plane loads of buyers were on their way.
I asked some why are you putting the prices up and one develpoer said because you Europeans are rich and have lot of money.
Impossible to get him to understand he was been greedy and would bring the sales to a sudden halt. He just kept saying but you English people are rich,
So when they all now moan about they cant afford to buy their own properties then whose fault is it?, they have become victims of their own success.
We also have to remember that some European countries have only been buying in Turkey for 3 years, so it is a whole new situation for them, and quite right it is now a buyers market, you can basically name the deal, if it doesnt suit you walk away and onto the next agent, there are hundreds of them trying to seel , and soon hundreds may close due to the sudden fall in sales.
An interesting reply Mark
What do you think of this report we found that shows strong interest from property investors growing in your area and around Fethiye in the past few weeks?
Here in the UK Turkey seems as popular as ever regarding property purchase at exhibitions and estate agent promotion evenings.The contacts and agents in Turkey itself seem very pessimistic so where is all this enthusiasm for buying going and why are we getting different feedback from the UK compared with Turkey!
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Old 22nd September 2006, 14:14   #9 (permalink)
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Re: Overseas Property investment report

I have actually had dealings with projects in the uk from investers on the "Singing pig" forum and do know the guy in question has had rather alot of bad luck with projects in Spain where investers on the forum there did loose money,However personally........
I would say the property in and around Alanya is more expensive than the western areas, but wouldn't say there is any greater interest in this area as opposed to the west.
Alanya isn't such a heavily advertised holiday destination as other areas of Turkey and therefore is somewhat unheard of to some, there are many Germans who holiday in this area and have done for years.
Alanya build higher apartments than other areas of Turkey where ristrictions seem to be more strict, in the number of floors that can be built.
A good advantage Alanya has is that it is served by Antalya airport which is open all year round and is a 2 hour coach journey away.
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Last edited by lewismark; 22nd September 2006 at 14:22..
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Old 22nd September 2006, 15:16   #10 (permalink)
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Re: Overseas Property investment report

Quote:
Originally Posted by lewismark
I have actually had dealings with projects in the uk from investers on the "Singing pig" forum and do know the guy in question has had rather alot of bad luck with projects in Spain where investers on the forum there did loose money,However personally........
I would say the property in and around Alanya is more expensive than the western areas, but wouldn't say there is any greater interest in this area as opposed to the west.
Alanya isn't such a heavily advertised holiday destination as other areas of Turkey and therefore is somewhat unheard of to some, there are many Germans who holiday in this area and have done for years.
Alanya build higher apartments than other areas of Turkey where ristrictions seem to be more strict, in the number of floors that can be built.
A good advantage Alanya has is that it is served by Antalya airport which is open all year round and is a 2 hour coach journey away.
I think the quality and all year round access via Antalya airport is a bonus to your area.
Our regional airport Dalaman has recently had a new international terminal built which is a wonderful improvement on the original airport and has been built for all year round access. The feedback from others two weeks ago was excellent and hopefully that,coupled with the new tunnel between Fethiye and Dalaman which reduces transfer time to 45 minutes,will encourage interest next year leading to more flights out of season.
I think forum agents and members tell it like it is "warts and all" from Turkey itself whereas UK agents and exhibitors obviously sell any country as paradise.!
Its funny though how things suddenly change
People are now avoiding Thailand like the plague and Prague has lost its appeal since the riots.
You just have to make a decision and go for it being as careful as possible!!
The place you have just chosen could have a earthquake ,sunami or military coup next week. If you were ultra cautious you wouldnt buy anywhere!!
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