Looks like Roman agrees with me.
RUSSIAN billionaire and Chelsea owner Roman Abramovich
is to construct a seven-star hotel.
He is set to take over about 80 acres of land
belonging to Turkish businessman Halis Toprak in
Kuþadasý.
The land has a 220-metre border running along the
Aegean coastline and is primed for tourism purposes..
Toprak has started selling his property in order to
pay off a 500 million dolar debt to the state.
Toprak said before that a hotel or 162 villas could be
built on this land.
Abramovich has been looking at Turkey for quite a
while now, with the idea of investing money. He first
looked at Antalya, then Bodrum
The Turkish property market on the whole, and the Kusadasi property market, in particular, is witnessing the early stages of a massive boom set in motion by an important change in the law relating to the ownership of property by foreigners. This change only took place at the end of 2002, but property values have been rising abruptly ever since. As other Mediterranean countries become more and more expensive, it seems that the focus is now on Turkey and its big market potential, like real estate Kusadasi marketplace.
Even the huge Spanish property developers have started showing a keen interest in Kusadasi property and land purchase as they seek to gain an advantage right at the start and snap up as much as possible. The Turkish economy generally is attracting a massive amount of investment and interest from overseas as the government wishes to bring their laws and policies in line with the rest of Europe, in part of full EU membership responsibilities.
Consequently, Inflation is down from 90% only 5-6 years ago to 8% today. Large international companies have penetrated the market in several domains: superstores chains, banking, car making industry or manufacturing. All of these indicators are great news for any investor who is currently buying a Kusadasi property. It is true that prices are going up by an approximately 40% per year and look set to continue increasing for many years, but still the real estate Kusadasi is much lower when compared with other European real estate markets . By acting now rather than a year or two later, individuals and companies can still buy a Kusadasi property at prices that are amongst the most competitive anywhere in the Mediterranean or Aegean regions today.
There are many real estate Kusadasi consultancy agencies that offer their potential purchasers a full range of services to make the process of buying a Kusadasi property as simple and straightforward as possible. And the results of such an investors-friendly policy can be quickly spotted: more and more foreign clients purchase their ideal Kusadasi property whether for investment purposes, or to use it as a holiday or permanent residence.
Real estate Kusadasi market is ready to satisfy any demand, whether it is about properties for sale or for rental. Kusadasi property buyers have where to choose from: apartments and villas for sale, commercial Kusadasi property and a lot of land for sale. Prices vary between €55,000 - €140,000 for apartments, and €65,000 - €300,000 for villas, depending on the property size and condition. Usually, Kusadasi properties for sale are located along the coastline, thus being only a few hundred meters away from beaches and beach clubs, restaurants and café bars around there. The distance to Kusadasi downtown area and other shopping malls can be easily covered thanks to Turkish style minibuses called "Dolmus" to travel every ten minutes.