Turkey’s Land Registry figures show a piping hot market right now with over 74,000 foreign property owners in the country. Out of these, more than 20,500 are British. Considering British pensions and how they can easily supply a lifestyle in Turkey it is no wonder many Brits flock to the sun.
Although Turkey is behind the established property spots like Spain and France in terms of buyers, the country has morphed from being an emerging market for adventurous buyers to being listed in the top ten most popular destinations pretty much as a standard.
With the lift of the Turkish investor ban on May 1st this year, noting will hold property investors back from finding their own Turkish piece of real estate.
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Judging by this years Formula 1 events so far, the boys in red are in top form with yet another win over the weekend in Istanbul.
Felipe Massa won his second race this year, out of 5 races so far and Kimi Raikkonen collected another 6 points for his team coming third. While Lewis Hamilton was forced to deal with a three stop tyre change due to last years dramatic tyre failure during the Turkey Grand Prix, it made it hard for him to beat the red team fair and square, but he still took home second place which is considerably impressive given his extra stop.
Kimi Raikkonen had his own fair share of action when he and his compatriot Keikki Kovalainen had a run in on the very first corner. It resulted in a tyre puncture for Kovalainen and a broken front wing for Raikkonen which he carried all the way through the race.
The end result was another clear win for Ferrari:
- Felipe Massa (Ferrari)
- Lewis Hamilton (McLaren-Mercedes)
- Kimi Raikkonen (Ferrari)
If you missed out on our former property grand prix posts, here they are again.
The Istanbul property front is sizzling hot!
As you probably know by now, the ban on foreign property investment in Turkey has now been lifted which will allow investors to see Turkey as a real playing field again.
With an estimated tourism influx of some 28 million this year, the property market in Turkey is considered very favourable amongst investors and Realtors alike.
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A Resort in Antalya: With Turkey’s new FDI law in place foreign property developers have been barred from developing resorts like this
A law allowing the sale of real estate in Turkey to foreign companies was annulled by Turkey’s Constitutional Court last Friday. In an attempt to gain entry to the EU, Turkey’s centre-right government previously approved the law allowing the sale of Turkish property to foreign individuals and businesses. This however changed on Friday when the ruling of Turkey’s Constitutional Court favoured the nationalist-leaning Republican People’s Party.
This decision by the court would ultimately affect companies specifically set up to acquire property in Turkey by foreign investors through joint ventures.
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Wednesday, June 25th, 2008 
Posted by OP-Mall in 
