Hi cagla

I chose those 3 countries based on what id heard from agents, they told me that the way these areas were developing ie (lots of new businesses in sofia) would bring back the best ROI.
I was also after an ivestment that i could let out long term, may 12month contracts to locals. I was told that it would be no problem finding this type of tenant in these area, was I informed right about ????

Would i be capable of getting all year rental in Turkey because this is an area that i have overlooked? Also what are the rental yeild % in turkey?

Cheers

Bodrum / Gumbet is not a luxury place, I have been there. It is quite down market full of drunk English and the beach is not too attractive.
Much better to buy on massive 5* developments with multiple golf courses ON SITE (not down the road), own private beach and massive modern marina. Morocco has these and the aim is year round rent, not just May to Septemeber.

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year

George I found only the massive Royal resorts being buit in the Med in Morocco had the possibility of year round rent. NO OTHER TOURISTIC DEVELOPMENTS WITHIN 3 HOURS OF THE UK HAVE THIS FEATURE.

The reason why the rent season is so robust is that the sites (for example SAIDIA) have giant purpose built marinas - Saidias will be largest in the Med and can take the largest luxury boats - larger than Peurto Banus in Spain which is about 60km away.

Also the leisure and sports facilities eclipse anything in Spain etc. 60 permiership footballers bought the luxury homes on Saidia including Rio Ferdinand, John Terri and the Neviller brothers.

Prices from £54000 with 70% mortgage.

Professional large international rental agents ON SITE will do everything for you year round.

You also get a 7km beach ONSITE (no golf development in Spain has its own large beach and massive marina unless you have a few million spare).

500 shops on this development that include Gucci, Channel etc.
17 golf club houses onsite. 3 golf courses ONSITE.

2 large French supermarkets onsite.

11 hotels on the site -imagine the year round marketing they will do to expose the development which will benefit you.

The King planned all this from 1999 and the reason its taken so long is he kept ammending things to ensure year round resorts are possible - his main aim was to avoid 'winter ghost' developments so common in Spain, Turkey etc.

Unlike many here I am not an agent. I cant beleive people would even consider anything else as they are all just the same old sismilar products. NOTHING COMPARES TO SAIDIA. NOTHING.

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year

I will seriosly look in to Saidia, it does sound a good place to invest. how did you go about buying your property there, what website did you use, what agents did you use?

Hi George,

I don't know the other countries but I know TR very well and buying a property is always as having a gold.It never looses, the worst thing can be to get a small profit.Renting is a different subject which is up to the city.If it is a big city like Istanbul and Izmir, you will get very good rental incomes per 12 months.As an other option it can be an office which has a higher income than houses.
A good house with 3 bedrooms gets you at least £350 per month in these cities and go to £1300 for best locations in Istanbul.So it is up to location.
For the seasides; if you just need it for rental income, no need to buy from here, prefer big cities!
If you want to spend your holidays in here and then rent it out for holiday visitors per week, its price begins from £150 to £350 per week according to the season.Of course, spring and summers are more expensive.
If you will not stay in your summer house, then you can rent it to local people which is in a demand here, then the prices begin from £130 to £220 per a month for min 2 bedrooms.

And after 5 years, you can sell it back with an increase so it is always as buying a gold!

With £30k, you can buy two bedrooms apartment with a communal pool in Altinkum but it is nearly impossible to find in these rates either in Bodrum or Izmir, Istanbul.This is the other fact!

I hope it helps you.

Best regards,
Cagla

Can you tell me what exit there is in Saidia?
Yields and income you will need to cover mortgage?
How you differentiate one unit from another?

ie. Is there a rental market. If everyone is doing the same thing.
How many thousand units are there?

Timing? Saidia been in the market for several years already. Is it the best time to buy? Prices already gone up.

But investy does make some good points.
Others mmm. Just because the likes of premiership footballers buy does not make it a good buy. If Mr Warren Buffett was buying then i would have more confidence. I have seen units below 54k but like all investments check what you are getting for your money.

ie. If you pay 54k make sure you are getting income from rent. Otherwise it is not going to be worth that much.
Also if they over build, as it is several thousand, the prices will come down. Simple economics. Supply Demand.
Also the timing issue, when to buy in the curve. Always at the beginning for max capital appreciation.
Saidia has been around a while.

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Hi Again

Advising your clients won't be sufficent under the new EU regulations. Indeed, all 'advice' will need to be supported by fact and those facts updated every 6 months to remain within the law. (Price Waterhouse Cooper is formatting the actual DD document right now in collaboration with several governments in the EU.)

The intention is to ensure all brokerages come into line with Financial Services. In other words hold a a Legal & Fiduciary responsibility to each client - buyer or seller. (This will mean providing DD packs independently verified and not paid for by the developer concerned when involving new-build.)

In practice this will probably knock out 80% of the rogue element, the remainder will have to catch up. Personally, I always conduct a formal DD on every development I handle and, have this legally verified. (Not that I would consider using the international network of lawyers in the UK since they charge circa GBP 2,500-3,500 per project. Forunately I am qualified to do most of the work myself and then have it sanctioned. A lot, lot cheaper but, still validated for each client and regularly updated.)

As for not recemmending a law firm...oops, beware!!! You should never introduce any less than 3 different law firms, else you can be sued for 'negligent referral'.

Hope you find this constructive and useful? Anytime you want to investigate further, by all means conact me off site.

Bestest!!!

Olly, what are you talking about. Where are you from? You seem a little off beat.

Which EU bureaucratic regulations are you talking of?
Advice, Brokerages? Legal & Fiduciary? Has your company given you some new books and language to play with.

Clients should select their own lawyers. It is in the client interest.
Financial and Advice rules should be adherred to in the country that one provides them in.

If you have unearthed a new big block buster EU rule. It would be interesting to hear it and be shared amongst others. And what it is exactly, and what it pertains too.

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Financial Service rules depend currently on national laws. UK FSA, Spain has 2, which covers investment instruments, stocks and shares but not property and mortgages.

Different countries have different rules. If there is new Super EU rule, then lets see it, or is it in discussion and coming out in 6 months? or maybe it wont.

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Where did you get this as well..

As for not recemmending a law firm...oops, beware!!! You should never introduce any less than 3 different law firms, else you can be sued for 'negligent referral'.

There are many companies in the market, including some of the biggest, who recommend their own lawyers. Maybe you would do well to speak to them Olly.

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