Has anyone here had any experience with the Turkey property market ???
I have a friend who is actively doing business there, and, there seems to be quite a bit of demand for unit developments….. apparently a lot of people from Europe buying holiday apartments……
Will let you guys know, how it proceeds…..
Just thinking outside the box……
Scott
Pelican Investments
http://www.pelican-invest.comOriginally posted by The Mortgage Adviser:Just watch out for those wayward missiles from Iraq!!!
Thanks for the investment advice !!! Was more worried about being beheaded….. [confused2]
Scott
Pelican Investments
http://www.pelican-invest.comI remember as we drove from Istanbul to Gallipoli in the bus every town we went through – and I mean every town – had a multi level concrete shell of an apartment building. None of them had progressed past this point of construction.
All of them had clearly been in this state for a number of years. I asked the bus driver/tour guide and he said that there was a loop hole for the rich in the tax legislation.
Something to do with constructions being a major tax deduction. This deduction is no longer available when the building is completed. So everyone had a half finished building to exploit the tax system.
Don’t ask me anymore about it, because that is all I know… Maybe I have forgotten some key point over the years since then.
Why dont you buy a property on the ‘block’ in Redfern. You’d have less of a chance of it getting blown up or torched![biggrin]
Thanks for the most varied and interesting responses…..
Will chat with my friend about current legislation / tax etc… she goes there twice a year……
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comHi Scott,
I’m sorry because I don’t know if this reply will be of any benefit from a legal/professional slant. However I spent about 6 months in the middle east around 96/97. I camped out with some Bedouin Harajat tribes in the Sinai desert for about a month. I spent about 2 months hitching top to bottom in Turkey. The tourist side pretty much starts on the Aegean coast down to the Mediteranean. Places like Marmares, Fetiah was where most travellers hung out but I avoided them and went further east on the coast and worked in a pension (small hotel/backpacker accomodation). At the time it was fairly primitive in creature comforts but the ocean views, etc were magnificent. At the time a couple of smallish hotels (perhaps 2-3) were being built and in Cirali where I stayed, always had a strong contingent of Germans that would travel and spend a fair bit of time there. Also the poms loved it and always wanted their ‘continental’ breakfasts, etc and paid big sqids for the comforts they expected (I could never work this one out at the time as that defeats the whole purpose of travelling to another country and learning from it’s culture). From a marketing point of view though in hind site I can now see the potential!! By now the southern strip may have been out built? Never the less, you may have hit on a gold mine? I realise we are now in the age of terrorism, however it was still real at the time I was there with the PKK. If you suss out the legalities, etc you may find you have accessed an international Aussie/UK/German ‘Bali hotspot’ waiting for the picking? From all the other recent backpackers I have talked to they all concur with my experience. Turkey is probably the most favorite place to holiday/travel to.
Hope this may have been of some benefit,
Regards,
Gatsby!Gatsby,
Thanks, and yes it does help.
I have heard a lot of people rave about Turkey…. If people still feel worried about the place, then, I see potential opportunity….. Prices could be reasonable still….
I do know that Germans are snapping up units there by the truck load….
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comI’d be interested in going into Turkey. Sounds very viable, please advise
Scott,
One of my dearest friends (who also happens to be a property valuer) is in Turkey right now. She’s been there many times and says it is the best part of Europe. I know she’ll be looking at the local prop market – we both can’t help it wherever we go.
When she returns in 4 weeks I’ll get her feedback about the market and if there is anything interesting I’ll post it.Cheers
skippygirl
)Skippygirl,
Thanks a million.
Cheers
Scott
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