Hi everyone,

Long time reader, but first time poster.

Basically, I need some advice. I've done a lot of research about property in Turkey, and have decided that this is where I want to stick my cash. Specifically I'm looking around the Alanya/Side area. I've been to the area loads of times, and I love the people and climate. I've also done plenty of research, and am very confident of a good return on my investment out there.

My one question, is has anyone got any experience of buying in Turkey, and can anyone recommend a good Agent or Solicitor? (That's actually 2 questions)

I've been in touch with one agent called Jasmin Real Estate for the last few months, and I'm going over next week to meet up and see some property with them. While I'm out there I figured I might as well meet with some other agents. The trouble is, I can't seem to find any on google or on-line that I really trust. The guys at Jasmin have been very good with the emails, and seem to know what their talking about. Everyone else I email takes days to reply, and say a lot of contradicting things.

So come on guys, help me out here!

I looked at Turkey, but now it seems people are brainwashed by "economic growth" yada yada. What you have to understand though, is, its mostly brits fueling these property bubbles.

Agents will tell you anything. What you should be wary of, is the local people wont be able to afford your house if you need to sell, you'd have to find another stupid brit.

Cheers for the reply George.

As I say, I've done a lot of research into this, and it's not just Brits in Turkey. Theres a lot of Scandinavians, Dutch, Germans, Irish etc.

I agree that the prices will become so inflated locals wouldn't be able to buy. But how long do holiday property areas boom for? Turkey only started a year ago, I reckon it's got to have another 10 years in it at least.

To be honest, property at 40k to 50k sterling is never going to lose that much. Is it?

And back to the point, does anyone have any recommendations of agents, or have any experience with these guys www.jasminrealestate.com ?

Next door in Bulgaria is the new boom place for expats:

http://www.mybulgaria.info/modules.php?nam...=261&pagenum=14

I have lived in Turkey as second home for over 13 years, in that time the Turkish Lira has melted down and there has been a property crash. Buying property consists of plonking the cash down and shaking a hand. You buy houses like you buy a car etc. I have recently been looking in Istanbul but the prices have shot up since Xmas. You would probably get better short-term returns putting your money into Treasury Bonds .. 16% a year and falling. The Lira is expected to depreciate next year...its way overvalued and the country is running a twin 'peaks' ala USA. You should look at the rental yield and consider the alternative 16%. However if you want to live here thats another matter.

Good Luck

Thanks for all the advice dubai. Where abouts in Turkey do you live? And is buying property really that easy?!

50k aint bad I suppose. I looked at some in fethiya <sp. I got put off by the sales pitches though and the strange expats living there.

I very nearly bought in Bodrum last year. Even the agent warned me that you can't rely on rental income, due to massive over building. I think the problem with places like these is that foreigners like to buy new propery, with all the goodies that are thrown in by the developers. Selling second hand would not be easy, IMO.

Thats exactly the problem with property in many places. People get all wet when describing how their villa, has tripled, quadrupled and yada yada yada. hmm what they don't realise is the locals can't afford their property, so the only other person who would buy it, would be another gullible or JCL brit. The locals certainly won't buy them. Paper wealth.

2p.

Hi Ray,

Since 25 July 2005 it is impossible for foreigners to buy in Turkey!

Don't worry its not that they dont want you, quite the reverse actually, its Turkish politics!!! A new law is on the way!!!!

Foreigners have been able to buy property inside municipalities in Turkey since 1934, and since July 2003 almost anywhere in Turkey, except near sensitive military bases and on historic sites.

The main opposition party the CHP (Republican) opposed the new law (and dozens of others) brought in by the government, most likely through bloody mindedness.

The Constitutional Court has annulled the 2003 law, and everyone is waiting for a new law. Quite when this will be is not clear. The Ministry of Tapu ve Cadestra (Title Deeds and Land Registry) in Ankara told me it would be within a month. However parliament has broken up until October so it is difficult to see how that can happen.

If you ask 100 people in Turkey about property you will get 100 different answers.
My advice would be get it straight from the horses mouth! Go and talk to the planning departments and the cadestra. You need to take a Turkish speaker with you, but they are very helpful and tell the truth.

I am not saying that people will lie to you, but the level of knowledge about planning law etc in Turkey is appalling even among estate agents, lawyers etc.

Don't forget 60% of buildings in Turkey are illegal. Even if someone can show you planning permission, this may have been obtained illegally.

Anyway don't let me put you off. Turkey is a beautiful and largely undiscovered country with lovely friendly people.

Enjoy your holiday home in the future.

Best Wishes


David Osborne

Hi Rayshady

I am the manager of the real estate company in turkey. I know your troubles.
different culture, foreigners etc... however you know that many of your citizens have interests in turkish properties. We made many clients from UK and Europe owner of their second homes or dream homes in the sun Turkey. If you want you can talk to them to get more info and you can visit my website www.dalamanhouses.com please feel free to ask whatever you wonder about Turkey. my email address : deniz@dalamanhouses.com

See what I mean!