I want to buy in Turkey.

Discussion in 'Turkey property' started by nelson, Aug 25, 2006.

  1. nelson

    nelson New Member

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    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
     
  2. mathew

    mathew New Member

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    I want to buy in Turkey

    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
     
  3. aquila

    aquila New Member

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    Mortgages In Turkey

    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
     
  4. TH4S

    TH4S New Member

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    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.;)
     
  5. KSS

    KSS New Member

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    Try Alanya

    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
     
  6. andyk2

    andyk2 New Member

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    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
     
  7. TH4S

    TH4S New Member

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    Andy,
    Bob asked me,pays not much but the company is great,;)
     
  8. marija

    marija New Member

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    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.
     
  9. TH4S

    TH4S New Member

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

    JennySide New Member

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    Moving or Buying in Turkey

    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.:) :)
     
  11. TH4S

    TH4S New Member

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    Jim and Jenny.Hi and welcome,

    Sorry but your post was edted,
    If the agents you bought of, would like to join the forum and speak for there selfs. they are most welcome,

    Please note,
    New or one posters links to any agents websites will be edited,
     
  12. Robert Gavin

    Robert Gavin New Member

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    Which places are popular for local tourists?
     
  13. Bil

    Have you bought your property yet as I have a 2 bded apartment in Alanya for sale.
     
  14. BONNIE66

    BONNIE66 New Member

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    Have A Look At Dalaman Area As Its Quite New To Tourism And Is All Year Around Due To It Being A Turkish Town In Its Own Right The Property Prices Will Only Go Up In This Area Due To The New Marina Being Built Later This Year And Also The First Of The Golf Course Being Started In Sarigerme Due For Completion In The Spring Property Prices Are Really Good Down There At The Moment And This Is A Lot Of Opportunity For New Businesses To Develop In The Area.
     
  15. terence

    terence New Member

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    Buing in Turkey

    The mortgage period has been extended recently to 20 years, and you can borrow up to 75% of declared market value on new build only. No-one is geared up to off-plan mortgages yet, so be wary of anyone who says they can obtain one. They are not cheap either!!
     
  16. blue sky

    blue sky New Member

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    Nelson,
    Buying in Izmir would be a very good option for you. It is the third largest city in the country. Life is much easier and cheaper than Istanbul, and it is a very modern city. If you want to live in a city for 12 months, Izmir is a good choice for you. Cesme which is a very famous holiday destination for its clean sea and nightlife is only half an hour away from the Izmir city centre.
     
  17. terence

    terence New Member

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    Mortgages

    Mortgages are now freely available and the lending term has just been extended from 15 to 20 years. Unfortunately, they are not available outside the UK. We have been told by the Turkish British Chamber of Commerce and Industry that moves are underway for a reciprocal health agreement between Turkey and the UK.

    Terence
     
  18. hikmetsel

    hikmetsel New Member

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    fg-homes

    Nelson,
    We are an estate agent in Gumbet Bodrum and we can help you with information about buying property here. At present Bodrum has now become a very cosmopolitan area with many language schools and private schools. There is a very good network of ex-pat residence here who built up a community.
    You can buy a property in Turkey as long as you are a Turkish citizen.
     
  19. TH4S

    TH4S New Member

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    Please note to avoid any confusion,

    You do NOT have to be a Turkish citizen to buy property in Turkey,
     
  20. hikmetsel

    hikmetsel New Member

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    Sorry there is a part missing!

    What i wanted to write was:You can buy a property by a mortgage system in Turkey, as you have a Turkish citizenship.
     
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