New Turkish Euro Mortgage Service Launched

new euro based mortgage service has been launched today by Offshoreonline.org, the UK regulated specialist overseas mortgage broker.


Available to buyers of all nationalities based anywhere in the world, loans of up to 70% of a property’s value are being offered on a capital and interest basis only. Loans can be structured over any term between 7 and 20 years, with the minimum loan size being 50,000 euros.

Interest rates are linked to the European Central Bank’s reference rate, Euribor, with buyers currently able to secure funding at rates from 4.95%.

According to the Turkish Statistical Institute, housing prices have risen by 16.4% over the 12 months to March 2009. For the overseas buyer, though, it is the capital Istanbul and the Turkish Riviera towns of Alanya, Antalya, Bodrum and Fethiye where the greatest interest lies, but outside of these, there are still opportunities in some of the smaller towns on the coast, where luxury yachting and beach holidays are well established in the UK and German markets.

Tim Harvey, managing director, Offshoreonline.org comments, “We see Turkey as a major new investment property market, even before their entry into the EU is decided one way or the other. There is no doubting the importance of the country both as a business and tourist destination, it is a major economy in its own right which is increasingly being adopted by international investors. For us, this new Turkish mortgage service complements our successful French, Italian, Spanish and Portuguese mortgage services.”

This aricle is from the Mortgage Introducer

Kempinski Launches 4th Hotel in Turkey

The Kempinski group have launched another hotel in Istanbul, named Bellevue Residences.

The hotel opened on Monday in the Levent region, offering top level service and facilities, joining 4 other Kempinski Hotels in Turkey.

Kempinski first moved into Turkey in 2007.

Developers Looking to Ease Istanbul Parking Issues

Several projects in Istanbul are providing additional parking. Most are offering a space for one or even two cars for each apartment.

There has been a steady increase in demand for parking in Istanbul, therefore developers are taking notice, as they understanding extra parking sells their projects.

Istanbul has a population of 12 million, 4 million dwellings and 2.5 million cars.

• Trump Towers in Mecidiyeköy has a six-story parking lot with a capacity of 2,800 vehicles.
• Kanyon Shopping Center in Levent has a capacity of 2,300 vehicles.
• Kempinski Astoria Mall at Esentepe has a 1,000-vehicle parking lot.
• The 64-story Sapphire, to be opened later in 2009, has 174 apartments has enough parking for two cars per residence.
  
  

Respected International Property Analyst Comments on Turkey

This comment was made by Liam Bailey, respected property analyst.

"When you look at the great balance of investment potential versus property prices, Turkey is among the best countries in Europe for property investment. Quality properties are holding their value during the credit-crunch, and with tourism set to rise to 30 million this year, and EU entry on the distant horizon the signs are good for rapidly increasing prices once the world gets back on its financial feet."

I wholeheartedly agree with this statement and think excellent value can be found within this market.

Emaar Looks at Opportunites in Istanbul

They are looking at potentially two hotels in Istanbul – one each on the Asian and the European side.

The first hotel would stay owned wholly by Emaar, whilst the other would be run separately exercising a management contract.

Both would be branded The Address.

PriceWaterhouseCooper Information

Here is a useful link directly to Pwc's report on doing business in Turkey, containing useful information from a respected Blue-chip company.


PwC Doing Business in turkey

Huge Expo in Istanbul

The fifth edition of Intertraffic Exhibition will take place in Istanbul from 27 to 29 May 2009 in the Istanbul Expo Center.

Exhibitors will be displaying many different traffic and infrastructure products, from traffic management systems, parking solutions.

Those of you who drive around Istanbul regularly will understand the need for such innovations to be implemented.

http://www.istanbul.intertraffic.com/intertrafficistanbul2009/e/home