Seventeen Turkish hotels were ranked among the world's top 100 in a customer satisfaction survey of 35 million TUI travelers.
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Germany's TUI, one of the world's biggest tour operators, conducted the survey between Jan. 1 and Dec. 31 of last year, TUI Turkey Product and Contract Director Melih Yetiş told the Anatolia news agency: "Seventeen of Turkey's hotels are among the best hotels in the world, and they are qualified for the 'TUI Holly' prize. Last year, this number was 13. The increased number shows Turkey has improved its quality in tourism and that customer satisfaction has also risen."
According to data provided by Yetiş, the Turkish hotels ranking among top 100 are: Amara Beach Resort (Side-Antalya), Barut Club Hotel Hemera (Side-Antalya), Barut Hotel Lara Resort Spa & Suites (Lara-Antalya), Cornelia de Luxe Resort (Belek-Antalya), Gloria Serenity Resort (Belek-Antalya), Hotel Delphin Deluxe Resort (Alanya-Antalya), Hotel Delphin Palace (Lara-Antalya), Hotel Marmaris Park (İçmeler-Marmaris-Muğla), Hotel Melas Resort (Side-Antalya), Hotel Papillon Ayscha (Belek-Antalya), Hotel Papillon Zeugma (Belek-Antalya), Hotel Yetkin (Alanya-Antalya), Iber Otel Sarigerme Park (Sarigerme-Muğla), Magic Life Kemer Imperial (Kemer-Antalya), Robinson Club (Çamyuva-Kemer), Antalya Robinson Club Nobilis (Belek-Antalya), Robinson Club Pamfilya (Side-Antalya).
Wednesday, June 25, 2008
Wednesday, June 18, 2008
turkey
Istanbul’s Chamber of Commerce (ITO) has claimed that a housing shortage is looming in the country that needs between 300,000 and 350,000 new properties to be built annually to cope with the demand placed on it from a growing younger population and foreign interest. Data obtained from the ITO revealed that in the next eight years, a projected 5.5million new homes will be required to facilitate the country’s expanding population. Some 2.88 million will be needed due to population increases, 760,000 to cope with internal migration and 652,000 to replace old and neglected properties. The ITO also revealed that an additional 1.25 million homes would be needed as part of ongoing urban transformation projects across the country.
Saturday, June 14, 2008
Turkey
Just as Turkey looks as if it is shaping up to become the next major holiday-home and investment destination, its government has stopped title deeds being issued to foreigners.
Safe as houses: Bodrum Castle overlooks the lively old town. The peninsula is popular with British and Turkish buyers alike
The country did it for six months in 2005, too, in an attempt to prevent large tracts of rural land being bought up. The latest ban - announced in April and awaiting ratification in parliament - has a similar purpose, limiting foreign ownership to 10 per cent of the land in any town.
Agents selling in Turkey expect the restriction to be lifted soon. "I don't see it as a problem, as you could never expect to receive your title deeds within three months anyway," says Julian Walker from Turkish property specialist Spot Blue. "For anyone buying now, the suspension will have ended by the time they reach completion."
Even 10 per cent foreign ownership of land is a high figure that is unlikely to ever be met, Walker points out. "Even in Spain, 95 per cent of sales are to the domestic market. In Turkey, there are 77,000 foreign property owners out of a population of 77 million, which is 0.1 per cent, so 10 per cent is light years away," he says.
"You have to remember Turkey is a poor country, 20 years behind the West in its property market, laws and business practice. And even though finance is available, it is also still typically a cash market."
advertisementApart from this blip, Turkey's property market is proving resilient, with prices expected to rise by 10-15 per cent this year, says Knight Frank.
The currency exchange company Moneycorp reports that British interest in Turkish property has trebled in the past year. A NatWest survey of mortgage lenders predicts that Turkey - where 22,650 Brits own property - will be the third most popular
destination for UK buyers in the next three years, with most sticking to the area between Kusadasi on the Aegean coast and Alanya on the Med.
In its attempts to double tourist numbers to 10 million by 2010, the Turkish government is investing in infrastructure and attractions, including new golf courses in Dalaman and Belek.
It is also encouraging new air routes and airport expansion. EasyJet now flies to Dalaman and Istanbul, BA to Antalya. A new international airport at Edremit will open up areas around Ayvalik, north of Izmir - until now, despite good beaches, great windsurfing and attractive property, the preserve of Turkish buyers.
Beyond its appeal as a value-for-money location for holiday homes - outside pricier Istanbul or Bodrum, the average two-bedroom apartment costs £35,000-£90,000 - Turkey is also drawing investors to Istanbul, where new development is taking place on both sides of the Bosphorus.
Prices average about £700-£900 per square metre, with studios from £40,000 in developments such as Life Studio near Ataturk international airport (through The Right Move Abroad), or Astrum Towers, six miles from the airport, which agent Regnum predicts will see annual growth of 30 per cent.
So, this Christmas - or whenever the restrictions ease - why not vote for Turkey?
BODRUM FAR FROM HUMDRUM
Lively resorts, leisure facilities and low-priced newbuild properties make the Bodrum peninsula one of Turkey's best-known areas for British visitors, while quieter spots such as Yalikavak and Gumusluk appeal to wealthy Turkish property buyers wanting £1m-plus villas.
"Bodrum is one of the most popular coastal regions," says Jane Griffiths, managing director of Regnum, "and Turkey's appeal is widening to take in growing numbers of Eastern European holidaymakers as well as British. Small apartments can achieve rents of £300 a week."
Safe as houses: Bodrum Castle overlooks the lively old town. The peninsula is popular with British and Turkish buyers alike
The country did it for six months in 2005, too, in an attempt to prevent large tracts of rural land being bought up. The latest ban - announced in April and awaiting ratification in parliament - has a similar purpose, limiting foreign ownership to 10 per cent of the land in any town.
Agents selling in Turkey expect the restriction to be lifted soon. "I don't see it as a problem, as you could never expect to receive your title deeds within three months anyway," says Julian Walker from Turkish property specialist Spot Blue. "For anyone buying now, the suspension will have ended by the time they reach completion."
Even 10 per cent foreign ownership of land is a high figure that is unlikely to ever be met, Walker points out. "Even in Spain, 95 per cent of sales are to the domestic market. In Turkey, there are 77,000 foreign property owners out of a population of 77 million, which is 0.1 per cent, so 10 per cent is light years away," he says.
"You have to remember Turkey is a poor country, 20 years behind the West in its property market, laws and business practice. And even though finance is available, it is also still typically a cash market."
advertisementApart from this blip, Turkey's property market is proving resilient, with prices expected to rise by 10-15 per cent this year, says Knight Frank.
The currency exchange company Moneycorp reports that British interest in Turkish property has trebled in the past year. A NatWest survey of mortgage lenders predicts that Turkey - where 22,650 Brits own property - will be the third most popular
destination for UK buyers in the next three years, with most sticking to the area between Kusadasi on the Aegean coast and Alanya on the Med.
In its attempts to double tourist numbers to 10 million by 2010, the Turkish government is investing in infrastructure and attractions, including new golf courses in Dalaman and Belek.
It is also encouraging new air routes and airport expansion. EasyJet now flies to Dalaman and Istanbul, BA to Antalya. A new international airport at Edremit will open up areas around Ayvalik, north of Izmir - until now, despite good beaches, great windsurfing and attractive property, the preserve of Turkish buyers.
Beyond its appeal as a value-for-money location for holiday homes - outside pricier Istanbul or Bodrum, the average two-bedroom apartment costs £35,000-£90,000 - Turkey is also drawing investors to Istanbul, where new development is taking place on both sides of the Bosphorus.
Prices average about £700-£900 per square metre, with studios from £40,000 in developments such as Life Studio near Ataturk international airport (through The Right Move Abroad), or Astrum Towers, six miles from the airport, which agent Regnum predicts will see annual growth of 30 per cent.
So, this Christmas - or whenever the restrictions ease - why not vote for Turkey?
BODRUM FAR FROM HUMDRUM
Lively resorts, leisure facilities and low-priced newbuild properties make the Bodrum peninsula one of Turkey's best-known areas for British visitors, while quieter spots such as Yalikavak and Gumusluk appeal to wealthy Turkish property buyers wanting £1m-plus villas.
"Bodrum is one of the most popular coastal regions," says Jane Griffiths, managing director of Regnum, "and Turkey's appeal is widening to take in growing numbers of Eastern European holidaymakers as well as British. Small apartments can achieve rents of £300 a week."
Sunday, June 8, 2008
Bodrum
Buyers looking for overseas properties could benefit from investment opportunities in Turkey, as prices look set to rise in the near future.
One UK property fund manager, Cordea Savills, is in the process of raising €400 million to invest in Turkish real estate with an estimated rate of return of 25 per cent, reports Reuters.
Ian Jones, director of investments at Cordea Savills, commented: "This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent."
He added that although the economy was cooling, it was "slowing but coming down from a high base".
Those looking for a holiday home as well as investment properties in Turkey may wish to consider the Bodrum district of the Turkish Riviera, where prices are low but expected to soon compete with Mallorca and Saint Tropez, according to Turkish Daily News.
One UK property fund manager, Cordea Savills, is in the process of raising €400 million to invest in Turkish real estate with an estimated rate of return of 25 per cent, reports Reuters.
Ian Jones, director of investments at Cordea Savills, commented: "This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent."
He added that although the economy was cooling, it was "slowing but coming down from a high base".
Those looking for a holiday home as well as investment properties in Turkey may wish to consider the Bodrum district of the Turkish Riviera, where prices are low but expected to soon compete with Mallorca and Saint Tropez, according to Turkish Daily News.
Thursday, June 5, 2008
Iraq
Middle east developer DAMAC has announced that it plans to invest around $15bn (£7.7bn) constructing a mixed-use project in Iraq’s Kurdistan province in an effort to kickstart the region’s recovery following the Iraq war.
The company plans to start building phase one at a cost of $4.5bn (£2.3bn) of Tarin Hills in the northern town of Erbil, at the tail end of this year. The scheme, which will measure around 170m sq ft, will include residential, commercial, retail, hospitality, entertainment, health and sporting facilities.
Peter Riddoch, CEO of DAMAC, commented: “The hills of Tarin will be transformed into a golf course residential community with villas surrounding and intertwined amongst the 18-hole course. This community will be augmented with a golf club and health centre, which will be a focal point destination for recreation and leisure. In addition to this, the community will encompass a water and theme park, arts and crafts centres, retail complexes, besides schools and business parks."
DAMAC chairman Hussain Sahwani believes that Tarin Hills could be the catalyst for turning the Kurdistan region into an “attractive destination for both high-end and mass tourism.”
He added: “There are five million people in Kurdistan from different classes and there are many people from Iraq that would like to take residence or move to Kurdistan because it is safer.”
Sahwani also wants to lure back all those people who left Iraq for Europe and the Middle East during the rule of previous president Saddam Hussain, or otherwise left to escape the war. “They would like to come back, and want luxurious residences to live in,” Sahwani concluded.
Anyone who may be concerned about investing in the region will be reassured to learn that DAMAC plans to create a fully gated community with security gates, 24-hour security, a police station and a civil defense base, all of which will be situated on site.
Nechirvan Barzani, prime minister of the Kurdistan regional government of Iraq, has welcomed the planned initiative. He said: "The Tarin Hills development will not only help promote the global face of Erbil, it will also create jobs and support growth in related sectors, such as tourism and hospitality. We thank DAMAC for taking this initiative, which is a very positive statement, and a symbol of the stability and growth potential of the Kurdistan region. We are confident of the success of this project and pledge our full cooperation with DAMAC and its investors in making Tarin Hills a world-class development."
The company plans to start building phase one at a cost of $4.5bn (£2.3bn) of Tarin Hills in the northern town of Erbil, at the tail end of this year. The scheme, which will measure around 170m sq ft, will include residential, commercial, retail, hospitality, entertainment, health and sporting facilities.
Peter Riddoch, CEO of DAMAC, commented: “The hills of Tarin will be transformed into a golf course residential community with villas surrounding and intertwined amongst the 18-hole course. This community will be augmented with a golf club and health centre, which will be a focal point destination for recreation and leisure. In addition to this, the community will encompass a water and theme park, arts and crafts centres, retail complexes, besides schools and business parks."
DAMAC chairman Hussain Sahwani believes that Tarin Hills could be the catalyst for turning the Kurdistan region into an “attractive destination for both high-end and mass tourism.”
He added: “There are five million people in Kurdistan from different classes and there are many people from Iraq that would like to take residence or move to Kurdistan because it is safer.”
Sahwani also wants to lure back all those people who left Iraq for Europe and the Middle East during the rule of previous president Saddam Hussain, or otherwise left to escape the war. “They would like to come back, and want luxurious residences to live in,” Sahwani concluded.
Anyone who may be concerned about investing in the region will be reassured to learn that DAMAC plans to create a fully gated community with security gates, 24-hour security, a police station and a civil defense base, all of which will be situated on site.
Nechirvan Barzani, prime minister of the Kurdistan regional government of Iraq, has welcomed the planned initiative. He said: "The Tarin Hills development will not only help promote the global face of Erbil, it will also create jobs and support growth in related sectors, such as tourism and hospitality. We thank DAMAC for taking this initiative, which is a very positive statement, and a symbol of the stability and growth potential of the Kurdistan region. We are confident of the success of this project and pledge our full cooperation with DAMAC and its investors in making Tarin Hills a world-class development."
Turkey
Turkey's convergence process with the European Union and macroeconomic stability should boost foreign interest in Turkish real estate, Akın Tüzün, head of Turkish equity research at Citigroup, said yesterday.
Speaking at the Turkish Real Estate Summit organized by The Association of Real Estate Investment Companies (GYODER) in Istanbul, Tüzün noted Turkey currently attracts around $3 billion foreign investment into the local real estate sector. “This is less than 0.5 percent of Gross Domestic Product (GDP) – a low figure as such if compared to Eastern Europe, and particularly to Spain, Portugal and Greece.” With close to $50 billion in current account deficit, Turkey needs substantial foreign capital inflow. As portfolio inflows and major privatizations slow down this year, Turkey has to attract foreign capital particularly in real estate,” Tüzün added.
Energy, tourism and real estate to drive FDI
The majority of all FDI inflow to Turkey since 2003 has consisted of privatizations and asset sales, mainly in the banking sector. So far real estate investments have made some 17 percent of all FDI into Turkey. “However, over the next decades energy, tourism and real estate will be the main areas of FDI inflow into Turkey,” Tüzün said. “The sustainability of foreign direct investment (FDI) is the key for Turkey's balance of payment dynamics and real estate FDI should play an important role in this.”
Turmoil boosts real estate investments
The global economic slowdown has not had as notable impact on capital FDI and real estate as much as was feared, noted Tüzün. “In fact, whereas since 2003 real estate investments made 11 percent of all FDI, in the first three months of 2008, they made 21 percent of all FDI into Turkey. […] On the other hand, portfolio inflows, mainly consisting of so-called ‘hot money,' have slowed down considerably in 2008,” Tüzün explained.
Despite the global turmoil, appetite for mergers and acquisitions (M&A) and real estate seem strong. “This is because investor profile for these assets, are not bothered by the short-term risk factors. In fact, the short-term turmoil provides a good opportunity for them.”The two day summit continues today with sessions on residential property, real estate opportunities in tourism, offices and logistics, urban regeneration and investment potential of Turks.
Speaking at the Turkish Real Estate Summit organized by The Association of Real Estate Investment Companies (GYODER) in Istanbul, Tüzün noted Turkey currently attracts around $3 billion foreign investment into the local real estate sector. “This is less than 0.5 percent of Gross Domestic Product (GDP) – a low figure as such if compared to Eastern Europe, and particularly to Spain, Portugal and Greece.” With close to $50 billion in current account deficit, Turkey needs substantial foreign capital inflow. As portfolio inflows and major privatizations slow down this year, Turkey has to attract foreign capital particularly in real estate,” Tüzün added.
Energy, tourism and real estate to drive FDI
The majority of all FDI inflow to Turkey since 2003 has consisted of privatizations and asset sales, mainly in the banking sector. So far real estate investments have made some 17 percent of all FDI into Turkey. “However, over the next decades energy, tourism and real estate will be the main areas of FDI inflow into Turkey,” Tüzün said. “The sustainability of foreign direct investment (FDI) is the key for Turkey's balance of payment dynamics and real estate FDI should play an important role in this.”
Turmoil boosts real estate investments
The global economic slowdown has not had as notable impact on capital FDI and real estate as much as was feared, noted Tüzün. “In fact, whereas since 2003 real estate investments made 11 percent of all FDI, in the first three months of 2008, they made 21 percent of all FDI into Turkey. […] On the other hand, portfolio inflows, mainly consisting of so-called ‘hot money,' have slowed down considerably in 2008,” Tüzün explained.
Despite the global turmoil, appetite for mergers and acquisitions (M&A) and real estate seem strong. “This is because investor profile for these assets, are not bothered by the short-term risk factors. In fact, the short-term turmoil provides a good opportunity for them.”The two day summit continues today with sessions on residential property, real estate opportunities in tourism, offices and logistics, urban regeneration and investment potential of Turks.
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