buying property in Turkey anyone ?

U

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Hi ,
For a long time (years) I have been thinking of investing in the Turkish property market (holiday home, apartment etc..) but have been to nervous to do so .Now I think now is a good opportunity to enter.
I have reviewed many articles in news papers most notably the SBP.
In yesterdays edition, Property companies were advertising themselves as agents to assist in the purchase of property abroad.

Does anyone have experience buying property in Turkey (or anywhere for that matter) through one of these companies that they would care to share ?
 
There is a key post on Turkish property on this forum.We invested through IPI in Oba just 20-25 minswalk outside Alanya. Prices are going up, no doubt about it, to us investors. Doubt it is as much to the locals.
I would suggest you go out to whatever region you are interested in and spend time researching. Letting market is poor, cost to fly out is expensive and people will buy packages rather than flight only.Gain if any should come in Capital appreciation. You then need to find a buyer to realise the cash.We agreed purchase price in late 2003, if we were to sell, our return would not have doubled or increased by 50% as some agents are saying.
There is speculation about an airport in Gazapaisa(think its military), that is nearer than Antalya.Most agents say this will open soon and there will also be direct flights all year from Ryanair or Turkish Cyprus airlines. believe it when we see it. Locals say it wont open,reasons given were either political or too close to the mountain behind it.There is also a lot of power cuts, there is huge amount of building work in process.
We are happy we invested.If we were to do it again, we would go and buy locally oursleves and cut the agent commission, get a good solicitor if going this route.There are lots of agents out there, prices seemed to be considerably cheaper.Dont believe everything you are told, question everything also. We have found the locals very friendly and warming.No lager louts, mainly families from the Nordic countries.
Caveat emptor
 
The fact that Earthquakes are common in Turkey, which is criss-crossed by geological fault lines would make me nervous about buying there - does or did that even enter the equation with you guys?
 
It did, fault line is not near Antalya/Alanya. The proximity to Iraq/Syria was another worry. Spoke to a local who lived 60 km from border, he offered to bring us down and show us.Be a guest in his Mothers house. They have lived there all their life and had no problems. Said it was similiar to how people (foreigners) view the North here.
Before we invested, I spoke to a Turk.He has investment properties. He has invested in Istanbul among others, he advised us to go there with our money.I was not comfortable to go with it.
best thing to do is to go out and visit the region and research as much as possible,talk a lot with locals and take any sellers view with a pinch of salt.
 
best thing to do is to go out and visit the region and research as much as possible,talk a lot with locals and take any sellers view with a pinch of salt.

I think that's true regardless of where you buy - you can't beat your own on the ground research.
 
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