Temporary freeze on foreign buyers lifted

The Turkish government has announced the end of a temporary suspension on the issuing of title deeds to foreign buyers. Brought into force on 15th April by order of the country’s Constitutional Court while parts of the legislation relating to foreign buyers were re-drafted, a parliamentary commission has passed the changes and the freeze will end in the next 2-3 weeks.

“The changes will have no effect on most foreign buyers and relate to the amount of land foreigners are entitled to buy,” explains Dominic Whiting, editor of the Buying in Turkey guide

“Previously, non-nationals could buy up to 0.5% of the land in a province; this is now limited to 10% of any town, city or resort, which is still a huge area.”

Turkey is growing in popularity with British property buyers due to its excellent value for money, great scenery and beaches and the low cost of living – approximately 1/3 of the UK’s. Apartments are still available on the coast from as little as £35,000, with villas from £75,000.

There are over 73,000 foreign-owned properties in the country, mainly in Istanbul and the coastal resorts, and £1.5 billion was invested in the Turkish real estate market by foreigners in 2005.

Access from the UK is improving with new routes and the arrival of low-cost carrier, Easyjet, who operate several weekly flights from Gatwick to Istanbul and Dalaman. Government-led investment is also transforming the coastal tourist areas with new airports, roads, marinas and golf courses in resorts such as Dalaman, Bodrum, Altinkum and Alanya.

What foreigners can buy:

Property and land within an officially zoned planning area which includes all the country’s towns, cities and resort areas

What foreigners can’t buy:

Property and land in rural areas (un-zoned)
More than 10% of a planning area

Good investment with $ 100K in Dubai

While the reputation of Dubai often goes before it, there is still scope to get a foothold in the property market for $100,000. This thread offers a useful array of leads taking in completed developments and developments which are still under construction. Despite the concern that the property market is becoming a little saturated, Dubai still seems to have much to offer. The Dubai economy has been fairly buoyant for some time, and still attracts a whole host of Western companies looking for a base in the region. A popular area of the world, which has its obvious pitfalls (such as periods of instability in the region) Dubai still continues to attract investors.

Despite many people looking to call an end to the Dubai property boom, it seems that there is still substantial interest in the area. However, whether the number of developments in the pipeline will see the market soften a little remains to be seen. When you strip away the concerns about short term saturation of the property market, the Dubai economy and outlook still offer cause for optimism, with many western companies still using the State as a base for their Middle East operations. At some stage you would assume that demand will have to catch up with supply, but longer term the picture still seems fairly rosy.

UAE Investment Opportunities for Women

Forsa, an investment company established for women investors in the United Arab Emirates at the beginning of this year, is launching its first wave of investment projects with a major real estate venture. The firm says this represents the initial step of a long-term commitment to create diverse investment opportunities for women.

HedgeWeek