Osman Sarac of the Istanbul Gold Exchange, or IGE, has said, in response to questions on the rise of gold prices, Turkish people keep roughly 5,000 tons of gold worth 131,3 billion euros “under the mattress.”
Responding to questions on Turkeys under-the-mattress gold stock, Sarac said although gold’s monetary value disappeared following the foundation of the Republic, people have kept their habit of stashing gold.
The global gold stock is predicted to hit 163,000 tons in the future, Sarac said, adding that Turkeys privately kept gold stock constitutes 3% of the world’s total. Turkeys “under the mattress” gold stock forms a potential supply resource, Sarac said.
People holding gold assess their gold accumulation in accordance with their personal needs and can put the stocks into the market, he said.
In proportion to the country’s population, the predicted amount is calculated at around 70 grams per capita.
Source: ANSAmed
Bodrum offers year-round great weather, colorful entertainment, historical sites, delicious dining, cheap shopping and overall peace and tranquility that will add years to the life of all those that live and visit here. With the latest Vita Park Golf Course and the Bodrum Golf Club serving the golf fans in the Bodrum area, it is no wonder why so many people choose Bodrum at the top of their holiday destination.
Covering an area of 649 square kilometres, Bodrum is situated on Turkey’s Aegean coast and holds a unique history that stretches back 2,000 years. Located between Europe, the Middle East, Asia and the Black Sea, Bodrum is home to one of the Seven Wonders of the World – the tomb of Mausolus who ruled on behalf of the Persians from 377 to 353 BC. More recently Bodrum has become a tourist mecca attracting hundreds of thousands of European and domestic holidaymakers each summer.
Renowned for its bougainvillea-splashed sugar-cube houses and vibrant nightlife, Bodrum also boasts excellent restaurants, a great museum and various local markets selling food and clothing, which run throughout the week. There is little humidity on this stretch of the coast, with the summer heat tempered by sea breezes and the sun often shining continuously from May to October. Winters in Bodrum are also mild and because of these pleasent year-round temperatures, the resort is more than a one-season town and attracts visitors throughout the year, aided by Bodrum’s international airport, which is well served by charter flights, making access from the UK easy.
Bodrum’s skyline is dominated by an imposing Crusader Castle which overlooks the harbour and the international marina. Beyond the town itself, much of the Bodrum peninsular is carpeted in olive groves and ringed by smaller resorts, beaches and new marinas at Turgutreis and Yalikavak.
Since the Turkish law change allowing non-Turkish citizens purchase property in designated areas, Property in Bodrum has more than doubled in value and continues to do so. The stable economy of Turkey and the lower property prices compared to their counterparts in most of Europe, Property in Bodrum is attractive to most investors.
Investors thinking of purchasing a rental property in Turkey may be able to look forward to healthy yields, it has been claimed. Turkey currently offers good value housing for foreign buyers and its popularity with holidaymakers and businessmen means that there will be a solid demand for property, reports Property Wire.
People who are thinking of buying a Property in Bodrum have been advised that investing in Turkey could be highly profitable. According to Aston Lloyd, this European country is an emerging market which offers very competitive house prices. However, growth in the market means that property values are on the up, which means investors who buy early could benefit from capital appreciation.
Overseas property investors are being encouraged to take advantage of recent developments in Turkey. According to property author Dominic Whiting, low-cost airline easyJet is now flying between Gatwick and Dalaman four times a week. This means that it could be an ideal location for people who are thinking of buying a buy-to-let property overseas, as this could trigger growth in the tourist sector. As a result, owners of holiday accommodation could enjoy higher occupancy rates and greater rental yields.
A growing number of overseas property buyers are choosing to invest in Turkish property, a local news provider has said. According to the Turkish Daily News, investing in the country’s property market has become a “hot new trend” among buyers from other nations. The newspaper said this was largely due to Turkey offering greater potential for capital growth than more established foreign property hotspots in Europe. In addition, it stated the country’s population was likely to rise as it became more prosperous, resulting in greater demand for property.
Osman Sarac of the Istanbul Gold Exchange, or IGE, has said, in response to questions on the rise of gold prices, Turkish people keep roughly 5,000 tons of gold worth 131,3 billion euros “under the mattress.”
Responding to questions on Turkeys under-the-mattress gold stock, Sarac said although gold’s monetary value disappeared following the foundation of the [...]
Posted On: August 31, 2010
Japanese capital investment bank Nomura named Turkey the “comeback king” of the year 2010 in terms of growth rate and economic potential.
One of the largest names in investment banking Nomura’s report underlined Turkey’s growth performance outdoing those of the Czech Republic, Hungary, Romania and Ukraine.
The report stated, “Turkey can be considered as the “comeback king” [...]
Keen overseas investors and holiday-home buyers for early 2010 have been recommended to consider Turkey as an ideal location. The number of holidaymakers in Turkey is on the increase, particularly from the UK, due to the pound’s strength against the Turkish lira compared to the Euro.
The three locations that were specifically mentioned were Bodrum, Dalaman [...]
Even though the real estate sector continues to feel the negative after effects of the global financial crisis and is expected to regain pre-crisis levels by as late as 2012, sales of property in Turkey rose by 24% in the first nine months of the year compared to the same period last year thanks to [...]
Property in Turkey has proved to be a poplar investment with the British over 22,000 now owning there place in the sun with in Turkey’s shores.
Demand for Turkey Property seams relentless buyers are attracted by the outstanding value for money when compared with other counties around the Med. Prices are like Spain 10 years ago. [...]
Bodrum remains one of the prettiest tourist resorts in Turkey. The old part of the town with its white washed stone buildings draped in bright bougainvillea and fragrant honey-suckle, retains a bohemian atmosphere, while the yachting fraternity love the myriad of rocky coves and sandy beaches nearby.
Tourists from all over the world have flocked here [...]
Turkey begins the process of aligning itself for EU accession, property prices across the country are set to rise in line with properties in similarly attractive areas of Europe. The combination of foreign and domestic demand for holiday homes is fuelling an unprecedented building boom along the entire west coast of Turkey. Legislative changes, which [...]
