I want to buy in Turkey.

nelson · #1 25-08-2006, 12:35 PM

I lived and worked in Istanbul for 12 years. I have been back in the USA for the past 5 years. I have Turkish citizenship too.

When I left the country there wasn't any kind of mortgage system due to near hyperinflation. If indeed I can get a mortgage, I would surely return and buy a place to live. A 2 bedroom, bathand half flat would be ideal for me.

However, places like Fehtiye and others in the Med coast areas are all seasonal holiday communities. I don't think there is much call for EFL instructors there. I have heard that many large schools in Istanbul have sister schools now in the south due to the shift of population and early retirement of the neuvo riche'.
Thanks
Nelson

mathew · #2 25-08-2006, 12:37 PM

Two things need to be clarified. Firstly, the Turkish lira has slipped from YTL2.35=?1.00 to YTL2.85=?1.00 in the last 10 days or so. Now while this may be a blip, and actually benefits Sterling purchasers currently if they were to do a spot currency trade today in comparison with ten days ago, it is not a sign of stability. However, I agree that prior to this fall, the currency had been stable at a level for a year or so.

Secondly, mortgages were due to start this year but it now looks as if this will, in fact be next year and in any case interest rates will probably be to high to make them an attractive proposition to overseas investors so equity release or cash purchases will remain the drivers of investment
Thanks
Mathew

aquila · #3 19-11-2006, 02:22 AM

Hi

Mortgages not generally available in Turkey yet but you can get them.

We deal with a large commercial bank that invests heavily in Turkey and will give morgages on property (it seems to want to get in to the market) at normal rates as long as you match the normal mortgage criteria set by most lenders.

Can send you info if you would like.

Best Wishes

TH4S · #4 19-11-2006, 03:53 PM

Nelson Hi and welcome.

Re mortgages.
HSBC are offering Mortgages.Here is there web site.
HSBC - Turkey.

Yes indeed places like fethiye and other areas in the Med coast areas are all seasonal holiday communities. Have you considered selcuk.Some excellent priced apartments direct from the builder. 40 minutes by road to izmir.its well worth considering.

KSS · #5 12-12-2006, 02:49 PM

Hi, Nice to here you like to have a second home in Turkey. Have a look at Alanya, has so much to offer opened all year round.

Good luck in you serch !!!
Kind Regards,
David

andyk2 · #6 12-12-2006, 08:06 PM

TH4S - how did you become a moderator? I have a couple of legitamate mortgage providers up my sleeve for the New Year - I´ll give you a call next week about them. Meanwhile, a recent PWC report stated Istanbul to be potentially the most lucrative city in which to invest in the world. If anybody wants a copy send me a PM. Andy

TH4S · #7 23-01-2007, 08:11 PM

Quote:

Originally Posted by andyk2

TH4S - how did you become a moderator?

Andy,
Bob asked me,pays not much but the company is great,

marija · #8 19-03-2007, 04:02 PM

I would definitely recommend Kusadasi to everyone. I was coming as a tourist for years and at the end i decided to live here. There are also a few interesting places around Kusadasi, and as far as i know around 10 000 tourists bought houses here.

TH4S · #9 19-03-2007, 05:59 PM

Quote:

Originally Posted by marija

There are also a few interesting places around Kusadasi,

Marija,
Having lived in kusadasi for over ten years.
I think theres more than a few interesting places around Kusadasi,

JennySide · #10 29-03-2007, 10:35 AM

Our names are Jim and Jenny. We have owned a property in Turkey for the last 3 years, recently we decided to purchase a new home. We visited many estate agents and met many people,
With this knowledge we are confident that if you choose this company, you will be highly satisfied and hopefully like us become owners of a house in Turkey.

I just think this information maybe useful for people thinking of buying in the Turkish Riviera.