End of 2013 the prices for real estate in Antalya and Istanbul will rise due to high demand.

Euro crisis pushes pensioners in Turkey !
Apartments from 40,000 euro, houses with pool for 130,000 euro. Low home prices and low cost of living make Turkey attractive for who fear for the purchasing power of their pension.

German seniors discover in the euro crisis Turkey as a safe haven. More and more older people place a cheap apartment or home on the Mediterranean coast of Turkey as a second or permanent residence in order to secure the purchasing power of their pensions for the remaining life time.
"The typical customer from Germany is now older than 60 years," says Ali Okcu, owner of the brokerage firm Okcu real estate in Antalya. "The low property prices and low cost of living lure German to Turkey", which is also confirmed by research in recent years.
For the equivalent of 40,000 euro buyers on the Turkish Mediterranean coast can find already a newly constructed two-room apartment. Detached houses with 120 square meters of living space, garden, terrace and swimming pool already exists for 130,000 euro.
In addition, food and consumer goods for daily needs are cheap.Three kilos of tomatoes cost the equivalent of only 80 cents.With only 700 euro a month is possible to live comfortably in Turkey.

Fears of rising inflation

This makes the country attractive for those who expect a strong inflation in Germany because of the euro crisis and anxious about whether their pension will be sufficient in a few years yet to cover the living expenses.
Turkey attracts more and more companies.
This is due to the fact that many Turkish workers have transferred to the States of the euro-zone their savings in the home country in order to protect them from the turmoil of the euro crisis. Also, Turkey attracts with its robust economy, more and more companies from the euro countries.
Automobile manufacturers, machine manufacturers, IT companies and various suppliers from Germany, France, Italy and the Netherlands have set up factories in the country or leave for Turkish companies produce.
At the same time it increases the domestic demand for real estate. By 7.5 percent, the Turkish economy grew by calculations of the central bank in Ankara last year. The unemployment rate fell, according to the Turkish Statistical Office in the past four years from 15 to 10.2 percent.
In Turkey, a large middle class grows and their families want to fulfill the dream of owning a home. This will be the prices of condos and homes in the coming years, a slow but steady drift in the air.
New laws to open the market.
This will revive the property market in the country massively believe brokers. "Especially from the Gulf region, many buyers will come to Turkey," Ali Okcu expected "Demand could soon grow vigorously," also believes real estate owner Okcu.
Born in Turkey Mr. Okcu is operating his brokerage firm in Turkey since 2007. Previously, there was the first big wave of demand from buyers from Germany, Great Britain, Austria and the Netherlands.
To reduce their loan portfolios many banks in the UK had made the loans to their customers for a vacation property due.Therefore in 2009 and 2010 many British had to sell their apartments and houses in Turkey. This depressed the prices.
In the past year, the market, however, came back into the swing. In the fourth quarter of 2011 the number of property sales over the same period last year moved according to the Turkish Statistical Institute already at 21.8 percent. Who plays with the idea to add itself for a holiday home or a permanent residence in Turkey, should now begin to explore the market.
Tips for EU citizens
Citizens of EU countries can currently buy property in Turkey, apartments and detached houses, if it is present for a building permit and the objects are not in restricted areas relevant to national defense.
Unlike in Germany, the purchase agreement is not sealed by a notary public, but directly at the Land Registry, the Tapu authority. The transfer of ownership may take several months because each land acquisition by foreigners shall be checked by the relevant competent military authorities.
For land registration fees fall depending on the region between 150 and 400 euro. The land transfer tax is 4.8 percent of the Tapu-unit value, which generally corresponds to about half of the purchase price. The annual loads are low. "The property tax is 150 euro and 300 euro for an apartment for a detached house," says broker Okcu.
Compulsory insurance policy for earthquake is around 100 euro. Owner of a condominium must also calculate with annual contributions of up to 240 euro for the maintenance expenses. The commission fee of up to six percent of the purchase price divided usually the buyer and seller in Turkey.


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