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 Post subject: Turkey - anything shifting...?
PostPosted: Mon Mar 31, 2008 8:38 pm 
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Single Home Owner

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In relation to the denial-panic debate a mate of mine has a foot in each..
His head is well in the clouds about his 2004 irish purchase but he is well and truly spooked about an apartment he bought in turkey in 2005.
Ive quite a long bearish history among my mates so the horse dosent want to tell me everything directly but it seems the EA is reluctant to put it on the market for him.

Anyone heard out…???

I have to say I never crazy about Turkey as a place to invest and didnt see where the value lay..


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PostPosted: Mon Mar 31, 2008 8:56 pm 
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The high interest rates and dodgy currency history would have been enough to scare me off.

If they're being considered for EU they seem a long way off at the moment (open to correction).


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PostPosted: Mon Mar 31, 2008 9:06 pm 
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If they're being considered for EU they seem a long way off at the moment (open to correction).


not even associate members yet and the politically its very far from a done deal, Bush and co. were pushing the Europeans particularly hard on it.....


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PostPosted: Mon Mar 31, 2008 9:53 pm 
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Too Big to Fail
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Noljakka wrote:
If they're being considered for EU they seem a long way off at the moment (open to correction).


not even associate members yet and the politically its very far from a done deal, Bush and co. were pushing the Europeans particularly hard on it.....


Turkey is an Iceland. They have benefited greatly from the Yen carry trade and their currency has been proped up for enough time now. There is only one way to go. tell him to kiss his money goodbye.

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 Post subject:
PostPosted: Thu Jul 03, 2008 9:49 pm 
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A classic from the UK Times:

Property for £35,000 in Turkey

Turkey's Mediterranean coast provides an escape from our credit-crunch blues


Buying a holiday home may not be top of everyone's to-do list this summer, but a place on the Turkish coast can cost as little as £35,000. Tempted? An astute couple could acquire one with a small deposit and a credit card each: credit card companies are still offering 0percent interest for up to 15 months to those with good credit ratings...


http://property.timesonline.co.uk/tol/l ... 261515.ece


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PostPosted: Thu Jul 03, 2008 9:59 pm 
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Inis Man wrote:
A classic from the UK Times:

Property for £35,000 in Turkey

Turkey's Mediterranean coast provides an escape from our credit-crunch blues


Buying a holiday home may not be top of everyone's to-do list this summer, but a place on the Turkish coast can cost as little as £35,000. Tempted? An astute couple could acquire one with a small deposit and a credit card each: credit card companies are still offering 0percent interest for up to 15 months to those with good credit ratings...


http://property.timesonline.co.uk/tol/l ... 261515.ece


For a moment there I got excited caus I thought BB was back !! :cry:

As for that ad, desperate people do desperate things - really scraping the barrel ... :roll:

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 Post subject:
PostPosted: Thu Jul 03, 2008 10:52 pm 
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Like almost every other fly to let destination hardly anyone knows if Turkey is a good investment destination.

What are the holding costs; maintenance, service charges, repairs, furnishing, decoration, agents fees etc.

What rental income are you likely to generate, after voids?

What is the planning and development control regime like, will authorities allow developers build to the point of utter demand destruction? (yes)


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 Post subject: Re: Turkey - anything shifting...?
PostPosted: Mon Jul 07, 2008 7:20 pm 
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Noljakka wrote:
His head is well in the clouds about his 2004 irish purchase but he is well and truly spooked about an apartment he bought in turkey in 2005.


Your friend is right to be spooked...

In common with, well, an awful lot of places, Turkey has endured an enormous property bubble since 2000, with prices rising multiple times even in real terms, especially where foreign, often Irish, speculators were at work, notably Central Istanbul, leafier suburban areas of Istanbul, and package resorts like Bodrum, Marmaris, etc. This was in part also driven by a significant relaxation on the rules on foreigners buying property in Turkey in the early part of this decade.

While there was enormous real growth in the Turkish economy in the first half of this decade, this has slowed significantly over the past couple of years, and the world economic situation is not helping. Additionally, there are real political problems in Turkey at present with the government at loggerheads with the army not helped by hideously mixed messages from the EU. If the army do something silly, there will be a massive outflow of foreign capital.

For price comparison, a friend of mine bought a big 3 bed family apartment in a suburb of Istanbul - not exclusive, but a nice, solid, bourgeois area - for £22,500 in 2001, so work out from that how overvalued a pokey studio, even in a relatively pricey resort, is at £35k.


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 Post subject: Re: Turkey - anything shifting...?
PostPosted: Fri Jul 15, 2016 10:33 pm 
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Too Big to Fail

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Location: South of the Border
BUMP


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 Post subject: Re: Turkey - anything shifting...?
PostPosted: Fri Jul 15, 2016 10:48 pm 
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Neo Landlord

Joined: Apr 13, 2015
Posts: 223
.... the government


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 Post subject: Re: Turkey - anything shifting...?
PostPosted: Fri Jul 15, 2016 11:07 pm 
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Too Big to Fail

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Posts: 4492
Location: South of the Border
Billy Bob wrote:
.... the government
Well played sir :D


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