World of Property & Real Estate » Turkey

Financial crisis effects in Turkey

hasan — Sun, 17 Jan 2010 09:29:05 +0000

Financial crisis has taken all over the world. Every country is facing sort of financial crisis and the most powerful economies like America, China and Russia and India are facing the world wide financial crisis and if we particularly talk about Europe and middle East countries, we will see that Turkey is facing crucial financial situation due to increase in inflation and de value of local currency as compare to other currencies. These crises are still to go for some more seven or eight months reported by Turkey ministry but the situation is still hard to control within sometime. But what is more concerning about Turkish economy is it is not globalizing economy as other European countries are. Somehow it is beneficial but more than that it is totally a disadvantage because international markets are always changing and with in sometime, the IMF and World Bank try to cover-up the problems by providing financial solutions but Turkey is not part of world social economy so it remains in crisis.
If we see the positive aspects regarding Turkish economy we see that the higher executives of economy and finance are capable to save Turkey from high effects of world’s financial crisis. The trained bank system, balance of payments, market system and infrastructure of business are designed in way that they can wok on their own despite depending on the world bank and IMF policies that are difficult and sometimes impossible to mange for developing countries and that is the reason that still Turkey’s economy is going good on the contrary to the world.
Turkey has set the rules and regulations for the foreign exchange currencies and markets in a way that they do not de value the local currency. And if some countries plan the foreign exchange rates with its local currency than chances are very rare to face crisis and this is what Turkey is managing for its money to remain stable for long.
Another factor that can affect any countries economy is the political condition and Turkey has to face the instable political issues because it lies between Europe and Middle East and religion crisis are always a problem for Turkey but still they had a good repute unlike other countries that had spoiled the economy due to religious crisis.
So we can say that Turkey is one of the strongest countries who are facing the financial crisis with determination and planning.

Kusadasi Property in Turkey

hasan — Thu, 10 Dec 2009 12:08:33 +0000

Kusadasi is the most loved fun resort in the world. People come here from across the globe to spend their holidays in beautiful beaches, lovely landscapes and wonderful valleys. It is one of the most beautiful sea side cities of the world. Turkey earns huge profits due to the Kusadasi tourism. The tourism has also boosted the prices and values of Kusadasi property as investors consider it the most reliable city for investment and business. Investors are now coming from near by states of Europe to invest in Turkish property as the Turkish government has adopted the policy of encouraging foreign investment. Due to this changed public policy, most of the Turkish private land holdings are now sold to the foreigners. Similar is the case with Kusadasi property. People are seeking property to buy in Kusadasi so they may be able to visit and stay in the city during its wonderful summer season. The winters of Kusadasi are mild which also encourages people to visit the city in winters as well.
The best investment in Kusadasi for foreigners is the tourism sector. In this regard one can buy a land on the sandy beach side of Kusadasi and construct a hotel on it. The more the luxurious and well advertised will be the hotel, the more the customers will come to stay in it. In summer season it becomes very difficult for the first time tourists to find an accommodation in the city. For such people more hotels and resorts are needed to be constructed. People coming from the European countries prefer to buy and hire the services of their own familiar countrymen. The prospects of earning huge profits by investing in Turkish property increase due to this fact.
Kusadasi has several kinds of music bars. Some are Turkish and rests are European. The people coming from European countries prefer the music bars of Irish kind so if the European countries will invest in Turkey they will definitely earn. The property in Kusadasi can be mortgaged and sold with the help of a solicitor who is responsible of settling deal between buyer and sellers of property. The foreigners who want to invest in Turkish property just need to provide the government with their income certificates and bank statements in order to buy a property in Kusadasi. Hence the property of Kusadasi has great value due to its situation and gratification.

Turkey Property

hasan — Mon, 07 Dec 2009 12:02:32 +0000

The real estate property has become a booming business in Turkey. The people buy and sell property in the season of tourists. In holidays people hire houses on rent to spend time with families. The investors spend on real estate just to earn rent and hotel charges. Not only houses and building are constructed for business rather it is done for housing purposes. Foreign investment in Turkey is also aimed at the construction of hotels and malls for earning profits. Household buildings are constructed for sale and are also a big business.
Because of Turkeyâ€™s participation in European Union, the demand for real estate has increased. The tourism is second factor contributing to increase worth of property in Turkey. Currently the trend of selling private properties to foreigners has given rise to the foreign ownership of Turkish property. Unlimited foreign ownership was banned in the country few years back, but now the law has changed which has reduced local individual property ownership. Most of the foreigners who have invested in Turkish property are British, Greeks and Germans.
Another implication of Turkish property is that a lot of and most of the property is owned by the government. An insignificant total of property was held with individuals who have now sold that to the foreign investors. The name of vakif foundation is worth mentioning here as it is the most important state organization which is controlling and managing the state property since many years. It is also an autonomous body that is contributing to Turkish economy as it is also responsible for running the bank named Vakif bank in the country.
The land owned by the government of Turkey is mostly the rural land that is reserved for agriculture production. The rural land has never been sold to any private firm or investor. This is what which makes Turkey distinctive from other European states which believe in private property. For not considering Turkey as a European Union member, this was also a major reason held previously.
The laws were amended regarding property rights in Turkey to allow and attract foreign investment in the country. Due to lower cost of life in Turkey people of other European countries are buying residential property in Turkey. Climate of the country is also a reason for foreign investment. Tourists spending on the stay in Turkey are a source of encouragement for the foreign as well as the local investors in this regard.

What to do ? What to see in Turkey ?

hasan — Mon, 07 Dec 2009 11:16:25 +0000

As the life is highly comfortable in Turkey according to climate, economy, social set up and political rest, the travelers prefer to visit Turkey even if they have been to Turkey before. As the cost of life in Turkey is low, the cost of travelling across the country is also low as compare to other developed states of the world. A lot of people come to see the cultural heritage of Turkey which is kept by the Turkish government. The music, art and the theatre are also an attraction for the tourist and are a source of national revenue. The museums and art galleries are also worth watching.
The historical places and Museums of Istanbul have been amazingly preserved and are a source of archeological testimony of the Islamic and Greek oriented constructions. These museums are a source of Islamic calligraphy, wars, Ottoman Empire and invasion of Alexander the great from Greek. The site of troy is also a historical place where the ruins of great cordon Greek and Trojan.
One of the seven wonders of world is also located in Turkey. It is the Temple of Artemis. Most of its parts have been damaged due to climatic conditions. But still it is the centre of attention for the tourists. Now the reconstruction of this temple was not possible so a miniature of the temple is under construction in a park named, Istanbul Miniature Park and is open for the visits of world wide tourists.
These historical places are mostly situated in Istanbul and can be visited at once on the same day. Another park which is also situated in Istanbul is worth visiting. Its name is minia-turk. The park is a source of miniatures of all historical sights located in Turkey. This park is not an alternative to real historical places in Turkey but still it is worth watching and a source of entertainment.
Due to such historical places present in Istanbul, the city is one of the most important for the visitors. There are numerous hotels, motels and rest houses meant for the tourists from outside the country as well as for local people. The blue mosque, topkapi palace, spice bazaar, grand bazaar and many other places are situated in Istanbul. Other locations of Turkey are also a source of entertainment. The cultural events, museum located in several cities, theatre and cinema are side attractions of republic of Turkey.

Cost of Living in Turkey

hasan — Mon, 07 Dec 2009 10:53:57 +0000

The cost of living in Turkey is the significant factor in comparing Turkish life quality with the rest of developed countries. To see the living wage in any country, the most important factors are the education cost, job opportunities, social welfare, cost of medicine, standard of life and expenditure on basic food items. For immigrants of developing countries, savings is the most significant aspect for which they migrate to Turkey or other parts of the world. Similarly the students who migrate to Turkey focus on low cost of living and facilitated life style.
As far as the income is concerned, the people working on low category jobs get such amount that can ensure proper life style. The cost of education in state run schools is quiet affordable for every one working and living in Turkey. In some places the education in state schools is free of cost but the education instruction language is Turkish. The two mediums of instruction are there. One is English medium and the other one is Turkish. The low or nil cost of schooling does not mean that the quality of education in governmental schools is inferior rather state run schools are to facilitate the masses.
The house rents vary from the quality and location of dwellings. The government employees get the house rent allowance so they live in the affordable houses. But in general housing is not a big issue as the minimum house rent is 250$. The minimum wage rate in the country is around three hundred dollars per day that makes the house rent affordable.
If the life cost of United Kingdom is compared with that of life cost in Turkey, it will be astonishing for people that the quality of life in Turkey is better than the United Kingdom. And the cost of living in Turkey is a good deal and stumpy as compare to the one in UK. People living in Turkey enjoy much more quality items of various kinds. The education, house rent, entertainment, various bills and food is available at low prices in Turkey which has helped reduce the differences between various social classes.
As the people of Turkey vale cooking at home, the cost of uncooked food items is highly affordable. The large amount of eating items is bought by the Turks but again the over all expenditure on food is insignificant. The cost of hospitalization is also half less than the hospitalization cost of United Kingdom.