The decision is expected to increase trade between the two nations & has excited tourism operators, as it will go into effect prior to the start of the summer season.

After the initial protocol to lift joint visa regulations was signed on 12 May 2010, the Re Admission Agreement, considered the final stage in the process, was signed between Turkey & Russia.

According to the Russian Embassy visa regulations should be lifted between the two countries in one to two months time.

Now, not only will businessmen be able to travel freely without the burden of obtaining visas, but the practice is also expected to positively affect tourism between the two nations. Last year alone, three million Russian tourists vacationed in Turkey.

Cumberland Properties welcomes the news, as making travel easier between the two countries will undoubtedly increase the number of rental enquiries to Seaview Regency Prestige, already popular with Russian tourists if the 2010 season is anything to go by, commented Cumberland Properties rentals manager Utku Karamanlioglu.

He added that the prospect of owning a Turkish property, whether as a holiday home, or a property investment in Turkey would now become even more attractive to Russian property investors keen to capitalise on the growing number of Russian tourists visiting the Bodrum peninsula.

Cumberland Properties have recently sold a significant quantity of Turkish property at its popular Woodland Regency development to Russian nationals both as Turkish holiday homes & also as Turkish property investment.

Following Cumberland Properties successful debut at the Moscow International Property Show last November Cumberland are planning to have a presence at the forthcoming DOMEXPO to be held at Gostiny Dvor, just 200 meters from Red Square, Moscow, between Thursday, 24 February – Sunday, 27 February 2011.

For further information:

Elena Sikorsky elena@cumberlandproperties.net London office [Наш русскоговорящий сотрудник]

Selim Sirri selim@cumberlandproperties.net London office

Volkan Akgözlü volkan@cumberlandproperties.net Bodrum office

Utku Karamanlioglu utku@cumberlandproperties.net Bodrum office

Source: Sabah

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

Tim said, “Being a footballer you don’t always know when you’re going to be able to get away, this is ideal.”

Tim emphasised that the best option was Turkey & Bodrum, “It’s five minutes from Bodrum airport, so I can take in some sun, play a bit of golf & fly my family over from Australia for a holiday to.”

Tim explained some of the reasons for choosing Turkey; beautiful geographical location, fantastic climate – weather & beaches, good food & a great tourist industry which is booming; “It is not to far either from Galatasaray who my mate Harry Kewell plays for so I will be able to go & watch him.”

He added “I have travelled all over the world & Turkey has got to be one of the most beautiful place I have been, there are not only places like Bodrum, but Istanbul to, with so much to see; it is a great place to have a holiday home.”

Tim paid around 200,000 GBP for his property but there are many apartments & villas in Bodrum. Tim added that his Turkish villa is big & light & the living area is “summer living” to include all the comforts, which suits him being an Australian.

Tim who is interested in real estate added that it was not just about money & investment; he wanted to enjoy the luxury lifestyle as well.

Tim is in good company as Andy Johnson, striker for English premier league team Fulham, also has property in Bodrum.

If football’s not your thing & although he might be retired from boxing, Ricky ‘the hitman’ Hatton could still knock you over with his sheer enthusiasm for his latest property venture.

“I bought a villa off-plan near Bodrum in Turkey two years ago & now I want to build a training camp there as well”, says the 31-year-old former world champion.

“I’m building a stable of about 25 fighters & the place will be ideal for them. It’s hilly, which will be great for their road work, the heat will help them acclimatise for fights abroad, & the golf makes it an ideal place to chill after a fight.”

If this all reads like the familiar story of the retired fighter rushing to spend his hard-won fortune then think again — Hatton is no fool with his money.

Managed by his father, Ray, he has his own leisurewear range & is now moving into the management & promotion side of boxing — hence his plans for the training camp in Bodrum.

He has been typically canny with his property dealings. The four-bedroom, two-bathroom villa in Bodrum comes with its own swimming pool & cost just 159,000 GBP.

Up until recently Hatton lived in a modest semi-detached house in Hyde, Manchester, where he was brought up. It was only when fans took to looking through his windows that he decided on something rather more private.

So he bought a far larger £750,000 home a few streets away in Gee Cross, put in a swimming pool & games room & built a high surrounding wall.

Hatton now lets the semi in Hyde & lives in the new house with his girlfriend. He also has a holiday villa in Tenerife. Considering that he is believed to be worth around £25 million, it is hardly an extravagant portfolio.

Hatton, a fierce Manchester City supporter, has always remained true to his roots & it was family holidays in Bodrum that first brought him to the Bodrum peninsula.

“I used to come here with my parents & my brother & now that I could be described as retired from the ring, I want to spend time here with my girlfriend & my own little boy, Campbell”, he says. “I just can’t get over how much the place has changed. There are golf courses galore & Bodrum is absolutely beautiful.”

The part of Bodrum where Hatton has chosen to invest is undergoing a £4.1 billion development “Golf is the driving force behind it,” say English estate agents Savills.

“You can get phenomenal value for money in terms of property in Turkey & can also let your Turkish property ten months of the year quite easily.”

The Ankara government is behind this golfing boom. Areas have been identified for up to 100 new courses to be built by 2014 & the policy is already paying dividends.

The prices might sound low, but don’t imagine Bodrum is a cheap & cheerful part of Turkey. It is a favourite holiday spot for wealthy types from Istanbul. In Yalikavak, its plushest suburb, the prices of some modern houses start at more than 1.5 million GBP & mansions sell for 6 million GBP & above.

Investing in Turkey appears to have been a shrewd move on Hatton’s part. With its population of 73 million & growing, there is a significant shortage of housing & this should maintain demand & ensure prices continue to appreciate. The Turkish real estate & construction sector grew by 21.9% in the second quarter of 2010. These types of statistics have increased confidence in the Turkish real estate & construction sectors, & English investors are gravitating toward Turkey to take advantage after the financial crisis.

Turkey is also economically sound, having come out of the recession relatively unscathed, largely thanks to not being in the Euro-zone. It is the 15th-largest economy in the world & would be the sixth largest in the European Union if, as expected, it is granted full membership by 2020.

Turkey is the centre of attraction for property investment especially for European investors after the global financial crisis.

Is golf much of an attraction to Ricky Hatton when he visits Bodrum? “To be honest with you, I just hack around the course — I’m not very good,” he says.

“But I find it relaxing. And one thing is for sure — it’s a damn sight less painful than fighting.”

Sources: Milliyet, Haber, Daily Mail.

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At the press conference Mr. Ozgur Ozaslan, Turkey’s Deputy Undersecretary Responsible for Tourism, announced that Turkey had not experienced any reduction in its tourist arrivals in the past two years unlike many other countries.

Indeed, by welcoming over 27 million visitors to its shores in 2009, Turkey achieved an increase of 2.8% in visitor numbers positioning it as the only country to benefit from a growth in inbound tourist numbers in 2009.

Growth looks set to be even more spectacular during 2010 according to the early figures which reveal over 23 million visitors arriving in Turkey in the first nine months of the year, extrapolated, a year on year increase in tourist arrivals of 6%.

Turkey’s success has also been reflected in winning various tourism awards to include being voted “Favourite Destination” in the 2010 Reader’s Travel Awards by the readers of the world famous Condé Nast Traveller UK magazine & numerous World Travel - European Awards it has received this year.

Istanbul, the European Capital of Culture for 2010, has also staged countless arts & cultural festivals, activities & concerts & has acted as host to a succession of world sports events such as the FIBA world basketball championships & Formula 1 events.

In a continuation of Turkey’s emerging role in the sports world the Universiad Winter Games will be held in Erzurum, Turkey’s centre of winter sports, between 27 January – 6 February 2011, & the 11^th European Youth Olympic Festival [EYOF] the only all-European multi-sport event will be held in Trabzon between 23 - 30 July 2011.

In London to receive the Chatham House Statesman of the Year Award 2010 from the UK’s Queen Elizabeth II, Turkish President Mr. Abdullah Gul will be opening the Yunus Emre Turkish Cultural Centre in November 2010, [Yunus Emre Turkish Cultural Centres have opened in Bosnia Herzegovina, Albania, Egypt, Macedonia & Kazakhstan. Plans are underway for new centres in other countries including Germany, France, Kosovo, Syria & Russia], in addition to the Mimar Sinan exhibition held at the Royal Institute of British Architects [RIBA] dedicated to the chief Ottoman royal architect during the 16th century. His most famous work being the Suleiman Mosque in Istanbul.

Mimar Sinan [1490 – 1578] was the chief Ottoman architect & civil engineer to sultans Suleiman I, Selim II & Murad III. He was responsible for the construction of more than three hundred major structures amongst other more modest projects.

President Gul stated that “Mimar Sinan is a part of Ottoman & Turkish culture & a part of the common heritage we share with countries from Romania to Saudi Arabia, from Greece to Israel.”

The WTM Turkey press conference was attended by Mr. Ozgur Ozaslan, Deputy Undersecretary Responsible for Tourism; Mr. Cumhur Guven Tasbasi, General Director for Promotion; Mr. Levent Demirel, Deputy General Director - all from the Turkish Ministry of Culture & Tourism & Mr. Irfan Onal, Director, Turkish Culture & Tourism Office UK.

Additionally, Turkish Members of Parliament, Provincial Governors & representatives of the tourism industry also attended WTM this year.

There were also special head-to-head sessions with senior representatives from the Mugla & Antalya regions & a series of high-level meetings throughout the four days.

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

Cities are the great engines of growth in the world economy. Istanbul, with income growth of 5.5% & employment growth of 7.3% over the past year, is currently the world’s best-performing city, according to a new report by the Brookings Institution & the London School of Economics.

The report ranks 150 cities from across the globe according to growth in gross value added per person (a proxy for income) & employment. The 150 metropolitan areas represented just 12% of the world’s population but accounted for 46% of the world’s GDP in 2007.

Some cities have plunged in the rankings since the “Great Recession”. Dubai & Dublin, the second & sixth best-performing cities respectively between 1993 & 2007, now rank as the most stagnant.

Source: The Economist

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Economists & writers will long argue about the causes & consequences of the economic crisis, but a real estate business has no such luxury as time for reflection.

An increasing number of events dedicated to the elite segment of real estate are proving the fact – the crisis has been overcome & a new era has been ushered in.

Positive changes in the market have already activated its most reliable sector - luxury property. Cumberland Properties participated in the XV International Property Show in Moscow, which is closing the season of presentations in real estate this year.

Keeping with tradition aiGroup invited exhibitors to the shopping centre “Tishinka” in the centre of the Russian capital, where 184 companies from 40 countries brought fresh designs for the demanding Russian client. Around 8,000 visitors, among which friends & partners of Cumberland Properties, were asking questions of real estate companies’ representatives & choosing the most suitable offers during the two show days.

As president of aiGroup Kim Waddoup remarked, “there is yet no better tool for investment than property, especially an overseas property”.

This year has significantly expanded the selection of geography. Five to six years ago Russians were buying real estate mainly in Europe - in Spain, France & the UK. Today there is hardly an island left where footprints of a Russian buyer won’t be found. Distances do not confuse Russians. However, their neighbours, Bulgaria, Finland, Montenegro & Turkey remain the favourites & are constantly strengthening their positions.

Surprisingly the economic crisis has had a beneficial impact on the overseas segment of real estate. In the context of inflation, the need to invest, or simply a desire to secure financial assets, it has prompted many Russians to refer to such a reliable instrument as property ownership abroad.

This was evidenced by a significant number of interested visitors, investors & potential buyers at the Moscow International Property Show this year.

Russians & representatives of other CIS countries are not only aware of what it is to invest in real estate, they also believe this sector to be the most profitable to invest in.

That’s why Cumberland Properties who have long specialised in the design, construction & provision of exquisite interiors to their exclusive properties in Turkey, decided to offer the market a few new projects at the Moscow International Property Show where Cumberland’s Woodland Regency development was the most admired of all.

While the name of Cumberland is becoming familiar to the sophisticated ear of the discerning Russian buyer our team continues to work on the next set of fabulous ideas.

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

Turkey is the perfect investment environment with its unique location and proximity to markets in Europe, Caucasus, Central Asia, The Middle East and North Africa. Global investors are joining in Turkey’s economic and social growth.

In Turkey, we are observing an increase in foreign direct investment that has been spurred by the vibrant people, excellent trade networks, strategic location and the start of EU accession talks. Turkey clearly has global aspirations and is an exciting place to do business.

John Chambers, CEO, CISCO

Turkey represents a robust platform for GE Healthcare’s economic expansion in this country, as well as for the entire region. Its highly skilled manpower, geographical location, as well as its existing international partnerships make Turkey an attractive partner of choice, uniquely positioned for the future. Today, from GE Healthcare’s regional headquarters in Istanbul, we cover more than 80 countries and manage 12 direct operations. Our ultimate goal will be to design and develop innovative solutions for Turkey and from Turkey for the rest of the region.

Richard di Benedetto, President & CEO, Middle East, Africa, Central Asia & Russia

We trust in Turkey’s motivated and qualified labour force and strategic location.
Marco Milani, CEO, Indesit Company

We are running 79 countries from Istanbul and are enjoying the dynamism, diversity and availability of a high-quality work force. These attributes and more, we believe, represent big potential for Turkey, in the way of development through the effective use of technology, as well as becoming a software and services provider to other countries, particularly the EU. Microsoft Turkey will be there to support economic development and capacity building.

Jean-Philippe Courtois, President of Microsoft International, Senior Vice President of Microsoft Corporation

Turkey is ranked as being the 15^th most attractive FDI destination for 2008 – 2010 (UNCTAD World Investment Prospects Survey)

Source: www.invest.gov.tr

www.cisco.com

www.gehealthcare.com

www.indesitcompany.com

www.microsoft.com

www.unctad.org

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

Over two thirds (75 percent) of expatriate Britons living in EU countries are considering returning to the UK due to the effects of the economic crisis according to a recent survey.

Fears over job security falling European property prices and the strength of the Euro are forcing many to reconsider their options according to a poll commissioned by Moneycorp the UK foreign exchange specialist.

250 in-depth telephone interviews were conducted last month and the findings indicated that 70 percent of those interviewed were now considering packing up and going home.

Job security was the most common concern with 35 percent worried about losing their job.

Falling European property prices was the second major concern closely followed by the strength of the Euro that for many paid in sterling has meant a dramatic cut in income or pensions.

Britons living in Spain where the recession is biting hardest for expatriates are the most worried about losing their jobs with 41 percent afraid they will be affected by the Spanish unemployment rate that currently stands at 18 percent.

More than a quarter (28 percent) of British expatriate living in Spain and more than one third (33 percent) of those living in Germany claim a sterling pension and rely on it as their main income.

An average of 70 percent have repatriation in mind says the survey while more than a third in some EU counties say they are definitely going back to the UK - including 38 percent of British expats in Germany, 37 percent in Spain, 34 percent in Italy and 33 percent in France.

David Kerns, Head of Private Clients at Moneycorp, said: “Our research highlights the real impact of the downturn for Britons living abroad”.

However, Turkey remains outside the EU affording the British in particular especially attractive exchange rates when compared to their European counterparts. This makes Turkey an affordable alternative to the more established retirement destinations such as Spain. Turkey already has a burgeoning British expat community.

Property in Turkey whether you are looking for Turkish property for sale or simply rentals in Turkey currently represents fantastic value for money. Furthermore, Turkey continues to enjoy sustainable growth in its property market with both domestic and international demand underpinning the market. Returns for rentals in Turkey remain strong.

Simultaneously, the strength of Turkey’s underlying economy and continued growth in tourism bolsters the case for considering Turkey as a real alternative retirement destination.

Turkey’s accession to full membership of the EU continues apace, increasing confidence amongst many Europeans in Turkey as a stable retirement destination.

For more information visit: www.moneycorp.com

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

Bob Atkinson, travel expert at travelsupermarket.com, said that Britons are more likely to give up spending on items such as a new sofa than cut back on holidays.

He said that a “work hard, party hard” culture is prevalent among people at the moment, with many consumers making holidays into the ‘highlight’ of their year.

“Brits will give up all sorts of things in order to save up and spend on a trip or a series of trips as a reward for working hard during the year - time off gives us the opportunity to rest, relax, party or indulge in our interests, with more and more of us taking activity breaks, whether they are cultural, sporty or family-orientated”, Mr Atkinson added.

A newly completed project of 13 two storey detached villas and 6 three storey semi-detached villas all of which have 3 bedrooms and 3 bathrooms and represent exceptional value for rentals in Bodrum.

Set on a gently slopping hill, in a jewel of a bay called Küçükbük – conveniently located just outside Gündoğan town centre. This quiet bay is renowned for its crystal clear sea, traditional gulets, cafés, bars and beachfront restaurants. Gündoğan town is famous for its local fish restaurants and readily accessible amenities including: ATM’s, bakeries, pharmacies and supermarkets.

The accommodation comprises: an impressive double height entrance door with wooden doors and a floating modern portico above. From the front door there is a fitted storage area to the left and ahead you can see through the hall and out through glass doors into the garden; on the ground floor to the right there is a guest bathroom and a double bedroom, to the left you enter the spacious kitchen / dining area opening into the living area with double doors to a large private garden.

A recent report from Travelzoo revealed that 42 percent of Brits plan to travel more in 2010 compared to 2009.

With accommodation like this… can you blame them?

:

www.cumberland-properties.com

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

“If the real interest rates continue to be around 4 to 5 percent then Turkey has a huge growth potential and it can be the next Brazil,” said Türker Hamzaoğlu, a Merrill Lynch economist for emerging economies in Eastern Europe the Middle East and Africa, or EEMEA region, in a press conference in Istanbul on Thursday.

“Brazil saw huge growth after the 2001 crisis. Maybe Turkey does not have valuable underground resources, but instead of this, it has low real interest rates,” Hamzaoğlu said.

Another advantage Turkey has is its strong banking system and a large upside potential on mortgages, according to Hamzaoğlu. In the long run, South Africa, Saudi Arabia and Turkey are “likely to be success stories,” Hamzaoğlu said.

“When we compare these to European countries demographically we see that competitiveness is robust in EEMEA countries. The young and unsaturated population in developing countries has potential. Turkey should make use of this.”

Hamzaoğlu also said the budget deficit situation is improving in Turkey. The gap that stood at 6.5 percent of the gross domestic product this year is expected to decrease to 5.6 percent of the GDP in 2010, he said. “The recovery will be seen more effectively in Turkey, as the indebtedness rates of households are lower compared to other EEMEA countries,” Hamzaoğlu added. Household debt in Turkey is 13 percent of GDP, according to the report.

From now on Turkey does not need to sign a standby deal with the International Monetary Fund, Hamzaoğlu said. “Emerging economies are recovering. There is no need for a standby.”

Inflation in EEMEA economies will stand at current rates or even decrease, according to the Merrill Lynch report.

The U.S. finance giant predicts the global economy to grow by 4.3 percent in 2010, with consumer spending and borrowing expected to rise as the threat of unemployment wanes and household incomes recover. “The surprise of the year may be a rally in the U.S. dollar,” said Bill O’Neill, a portfolio strategist at Merrill Lynch Wealth Management for Europe, Middle East and Africa.

“Brazil, Russia, India and China (or BRIC) currencies have the upside versus the euro.” The U.S. dollar has lost 4.8 percent against the euro this year.

For more information visit: www.turkeydailynews.com

Turkish Property Site © 2012 | 0 yorum | yazının devamı »

A large proportion of visitors to Turkey invest in Turkish property either for personal use or in the knowledge that its value will multiply considerably. Compared to conventional and established resorts, such as the south of Spain, currently property in Turkey offer exceptional value as well as excellent rental returns during the high season.

Numerous significant and distinguished enterprises are committing extensive financing to their investments in Turkey. The knowledge that Turkey aims to become a major player in the world’s property market also gives buyers a sense of security. Indeed, the world’s largest tour operator, TUI, has listed 2 Turkish hotels among the 10 best hotels in the world and the Hilton intends to extend into Turkey with 15 new hotels across the country over the next 5 years.

Turkey is well on the way to preparing itself for the wave of popularity. On top of more than 45 operating airports, new airports are scheduled to open and championship golf courses are being built. However, in order to preserve the country’s natural beauty and protect coastal resorts, building restrictions have been put in place: Turkey is learning fast from Spain’s mistakes. Another notable advantage when investing in Turkish property is the fact that the average price of a home will be 3 times less than an equivalent property in Spain.

As tourism in Turkey rises by approximately 20% per year, the price of property increases at nearly the same rate. There are already over 62,000 foreign owned properties in Turkey, of which approximately half are thought to be British. With the exceptional value of property and inexpensive price of living, such figures are hardly surprising.

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