A Place in The Sun's 20 Best Money Making Locations

[FlexiBox]

Hello All,
Above is a poll of the short list from the TV program's 20 best places to make money in the next 10 years - in the EU. The top represents the number 1 money earner over the next 10 years - Romania and the Bottom is number 20 - Cyprus.

How many of you have either bought or are seriously considering investing in any of these markets?

Regards
Flex

 

[TH4S]

Where's Turkey
Can understand its been a bad season but they not out of the game yet.

 

[Investy]

I did Germany, now Morocco.

Would consider Montenegro, Slovenia, Baltic states.

Bulgaria and Romania far too easy to get ripped off, poor state controls, difficult to rent (short hol seasons, mass over supply and have to submitt annual comany accounts!).

Turkey - season too short, over supply, no mortgages, long flights relatively.

 

[TH4S]

Investy
Turkey - season too short, WRONG 10 MONTHS İS NOT TO SHORT.

over supply, WRONG. SUPPLY AND DEMAND.

no mortgages, WRONG. YES THERE İS,TRY SEARCHİNG THE İNTERNET.

Further Information About Turkish Mortgages
Please note, that non-status/self-certification Turkish mortgage facilities are not available through the lender.
All applications need to be supported by a minimum requirement of proof of income. If employed, copies of your last three month's pay slips & your latest P60 and an Employer’s Reference together with copies of your last three month’s Personal Bank Statements will be required or alternatively if you are self-employed or Director of a Limited Company with a shareholding of 20% or more copies of your last three years Audited Accounts plus copies of Personal Tax Returns for the last 2 year & copies of your last 3 Personal Bank Statements will be required on application.
Please note that it will also be necessary to obtain a copy of your credit file via Equifax or Experian.The Turkish lender will NOT take into consideration any proposed Rental Income from the property for Turkish mortgage purposes/repayments.
Your mortgage in Turkey is based on your joint net “take home” pay and is calculated on an affordability basis. All your existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (ie: Divorce) payments together with your proposed Turkish mortgage payments must not exceed 45% of your net monthly income.
Example: Net joint monthly income £ 2,500 times 45% of that figure is £1,125 minus existing monthly mortgage payment £ 700 – No other liabilities. This leaves a balance of £425 for a proposed Turkish Mortgage payment.

Thats direct from the finance companys exactly what they sent me.

long flights relatively. 3 AND AND A HALF HOURS FROM LONDON..

Easy jet already getting there foot in the door regarding cheap flights to turkey.
Tesco B+Q are building supermarkets all over turkey.Guess the big boys put there money where there mouth is.


İnvesty .
please check your recent post's one actually said and i qoute .

This year I have discovered Morocco after carefully considering Turkey

.

 

[Investy]

Investy
Turkey - season too short, WRONG 10 MONTHS İS NOT TO SHORT.

over supply, WRONG. SUPPLY AND DEMAND.

no mortgages, WRONG. YES THERE İS,TRY SEARCHİNG THE İNTERNET.





Thats direct from the finance companys exactly what they sent me.

long flights relatively. 3 AND AND A HALF HOURS FROM LONDON..

Easy jet already getting there foot in the door regarding cheap flights to turkey.
Tesco B+Q are building supermarkets all over turkey.Guess the big boys put there money where there mouth is.


İnvesty .
please check your recent post's one actually said and i qoute ..

Yes I did research Turkey. Travel agents tended to say it was really a summer destination as it gets too cold in winter. Even N Cyprus which is further South is cold in winter, my barber is from N Cyprus as is a client. They lived there until thier teens.

The research I did backed - up a rental season of 4 - 5 months which is just to short for some investors.

On the mortgages this is perhaps a new era, certainly when I was looking mortgages were impossible.

Ive been to Bodrum and the flight was 4 1/2 hours. Perhaps other parts of Turkey are less?

Im not saying Turkey cant be a good investment, it just didnt meet my strict criteria and nothing I saw had enough wow factor.

Good luck with your endeavours

 

[TH4S]

Investy.
May be these foreign investors see turkey as a WOW factor.And it meet's with there strict criteria,

Giant foreign investors keep a close eye on Turkish real estate market Road shows put on by Turkish real estate investment companies are swarmed by international property development and investment funds. Morgan Stanley, Credit Suiss, UBS, Alliance-Leicester, Credit Lyonnais, Scottish Widows, CAIB and Deutche Bank are among those interested.
Dynamism in the Turkish real estate market has sparked a flood of international investors into the country. After mergers and acquisitions in Turkey of foreign banks and companies such as GE, HSBC, Fortis, Bank Europa and the NBG, now seems to be the right time to invest in the real estate sector. Not only as investors but also as partners in property development projects.

Article Taken from turkish daily news,

Investy
Thank you for your good luck wish's

Im saying Turkey can be a good investment,So are the above Giant foreign investors ,

 

[Investy]

In terms of Turkskey or for that matter Bulgaria I would only entertain a City / Town property with year round rent.

People I know get about 16 week occupancy in the coastal resorts, thats 36 weeks empty. There are maintenance and other year round costs still leaching away.
Given investors own capital in the form of MEWd equity from thier UK property or cash withdrawn from savings has an interest cost every day, the books dont balance where rentals are relatively poor. In other words the all important 'total return' can be poor. I see examples of this all the time, yet the 'investor' thinks he's done well saying "I only paid £40000, now Ive sold for £80000, thats a £40000 profit'

In truth after Tax and lost rentals + cost of providing own capital + ongoing costs the total retrun is halve this sum.

All Im saying is do the math carefuly. Dont be like the CH4 'Place In The Sun' muppets who dont understand the concept of total return. Indeed some of them even give up work to develop thier project AND FORGET TO DEDUCT THE WAGES THEY WOULD HAVE EARNED HAD THEY REMAINED IN WORK FROM THE TOTAL SALE PRICE!!!!!!!!!!!!!!!

 

[MoroccanMortgages]

Morocco Was overlooked

Come on channel four ................!

 

[Rixxy]

I agree - where is Morocco - we have had a massive amount of leads with sales already proceeding since New Years day and we havent even started advertising yet! Morocco will be high up on the list.

Spain also will be highly rated - as prices drop and distressed sellers increase, the smart investors are moving back in!

 

[wilkes1976]

No Turkey

Turkey wasnt included because "A Place in the Sun" restricted the criteria to EU member countries only (which also explains why Morocco was not included). The results for this programme were based, at least in part, on a survey commissioned by PriceWaterhouse Coopers which funnily enough selected Istanbul as the number one destination for property investment in 2006 and 2007. Why "A Place in the Sun" selected member countries only - I dont know. A company called dqdx do a pretty good survey of the research for the region.

 

[Rixxy]

What you say does make sense, but then why wasnt Bulgaria in as they have only just joined the EU at the same time as Romania - or am I totally wrong??

 

[cnchampion]

Brazil Real Estate Boom.

Hello,

I think Brazil should now be included in the poll as well. It is still early stages but North East Brazil is at a start of a mayor property boom.

Many entrepreneurs believe it will become one of the world's largest second home markets over the next few years. Hot spots in Brazil are Fortaleza-Ceara, Natal and Bahia.

You can find reports and information at:
Brazil Property Ventures
or Empyrean Ventures - Brazil Real Estate Investments - Ceara Fortaleza Opportunities

 

[Paddy Chan]

Why Romania?

I didn't actually watch the programme, but anyone has views on Romania? Although prices are booming now, what are the prospects for long term growth (and what would make it more special than the other Eastern European countries)? Also, I hear a lot about corruption. Does anyone have experiences to share?

Thanks.

 

[tica221]

EU is still too expensive!

There are soo many places in Latin America to buy that are just as beautiful than in the EU... I guess everyone has their own taste, but what about countries like Belize, Costa Rica, Argentina???? Gorgeous countries for a fraction of the cost!

 

[TH4S]

Travel agents tended to say it was really a summer destination as it gets too cold in winter.

Turkey as just had one of its hottest winters on record,
Cant honestly say travel agents have any knowledge of the property market,

Wilkes1976
PriceWaterhouse Coopers did indeed select Istanbul as the number one destination for property investment in 2006 and 2007.


The overseas property market is opening up as never before.
20 Best Places To Buy In The Sun, Amanda Lamb chose her 20 recommended property destinations.Number,3. Turkey,The country with something for everyone,

 

[dtratcliffe]

Investment list..

It´s a nice bunch of countries, but where is Turkey, Morocco, Brazil & Bulgaria?

dtratcliffe

 

[TH4S]

It´s a nice bunch of countries, but where is Turkey

Dtratcliffe,
Please ask them again,

 

[paul-steve]

I can understand Spain and Cyprus position but got to agree what's happened to Turkey surely it should be in the top 10 somewhere

 

[DC]

Reality check

It would be good to know exactly how they judged this. Romania will have capital growth. But what about income? what about yields, the costs of borrowing is high etc. I think that this was not a particularly scientific analysis, it would be good to know how it came to be. Even from polling here, people are pretty low probability to buy there. I went to Western City (a rich city) in Timisoara and it was close to terrible. Who makes these programmes. Local people are not going to pay western investors incomes. So who is going to pay the income on rental property. Ok in the center great ski, but very high prices already! It does not make sense. It does not stack up! There is a saying in Romania. All sane romanians have at some point thought of leaving. Only the mad ones stay!! Hey in truth they are a nice lot, but by goodness the country neds a big make over. Changing Rooms have there work cut out for the next 50 years. Also EU money will flow, and in truth I prefer Romania to Bulgaria, but remember for last 30 years Italian and Germans have bought the land up , is no bargain place. Speak to any Romanian. They think is over priced.

 

[TH4S]

I think that this was not a particularly scientific analysis,

Goldberg Global, that piece really made me laugh,

paul-steve,
You must have missed my last post,

The overseas property market is opening up as never before.
20 Best Places To Buy In The Sun, Amanda Lamb chose her 20 recommended property destinations.Number,3. Turkey,The country with something for everyone,

Turkish property to make Top 5 in 2007,

Posted on this forum 09-11-2006

http://www.totallyproperty.com/turkey-property/1096-turkish-property-make-top-5-2007-a.html

Need i say more,