Country: Turkey
4 February 2009
Vice chairman of Istanbul Chamber of Real Estate Commission Agents, Nizamettin Asa, is urging people to take advantage of the recent Turkey property market slowdown and get their hands on bargain properties, as a consequence of the recent property slowdown, reports Turkish news provider Hurriyet Daily.
"There is a general expectation that prices and interest rates will be going even lower. Let’s assume that interest rates go lower; you won’t be able to find apartments with today’s low prices. When interest rates drop, prices go up. This is the way the market works," said Asa.
Asa says that demand for homes in Turkey has slowed of late, as prospective purchasers’ wait for prices to fall further.
He adds: "I think that Turkey isn’t experiencing the economic crisis as badly as other countries. People have money in hand, but, to be safe, they don’t want to use it. They are waiting for prices to go lower. Those who have cash have the power of negotiating deals, but we can’t sell a product that is worth 100 liras for 50 liras. There are some people who insist on buying a house for almost nothing. They don’t want to spend their cash."
"There are apartments starting from 40,000 liras [£16,900] in various regions of Istanbul," Asa said.
He also pointed to the fact that there are some huge property investment opportunities available at the moment, especially, “in central districts like Fatih, Aksaray and Kocamustafapasa, where one can buy a house with a garden for 50,000 [£21,000] to 60,000 liras [£25,250]. This seems to be a good opportunity; I would recommend clients take the opportunity. Who knows what will happen tomorrow,” Asa continued. “If the Turkish economy recovers in two or three months, nobody will find a home to buy for 40,000 liras or 50,000 liras."
See Also: turkey
Price: £15,000
Type: Land
Full Description: 354m2 land on hill in Akbuk, Aydin.354m2 land in Akbuk, suitable for residential use.Permission to build on 15% of land.Fantastic views over Akbuk.
View details | Enquire further
Full Description: Plots of land in Akbuk 275m2 close to Akbuk sea front with planning permission for semi-detached 2 and half storey villa - 700m from sea front.Permission granted to build on 15% of land.Prices start from GBP 15,000
Type: House
Price:15,000 £ Ref.No:ziyaretci Type :1 Bedroom Apartment Status :SALE
Price: £16,000
Type: Apartment
Bedrooms: 1
The Town Centre Apartments are an ideal opportunity to buy-in at a superb price, in a “bang-on” central location. The apartment building consists of 1, 2 and 3 bedroom properties, which will be ideal buy-to-lets or permanent homes.
Price: £17,000
Anatolian Residence is being sold off-plan – an opportunity to spread payments and buy in to a luxury holiday complex at incredibly low prices.
Price: £18,000
Full Description: 1 bed apartment near Didim town centre, 20 minutes from Altinkum main beach.Centrally located for town centre and local facilities.
Price: £18,500
Full Description: 1 bedroom first floor fully furnished apartment in Didim.
Price: €21,200
Bedrooms: 1,2,3
These facilities include:100 seat bar and restaurantTwo swimming pools 360 sqm totalSky TV in barGymnasium for the energetic
Price: £19,750
Full Description: 4 * 310m2 plots of land Aretma, near Isik Sitesi, Apollo temple, Didim.4 plots of land 310m2 each in Apollo temple area, near Isik Sitesi, Didim, with planning permission to build semi detached villa on each plot.220
Price: £19,950
Full Description: 200m2 land Yesilkent Way, Altinkum – 15 minutes from Altinkum main beach.Planning permission granted to build on 20% land – 2 and half storey semi detached villa.GBP 19,950
Prices from: £120,000
Bedrooms: 4 - 1 ensuite
Off-plan, detached. 10 year guarantee. Two terraces, private pool, landscaped gardens. 700sqm plot.
Price: £77,702
Bedrooms: 3
0% Finance36% deposit: £27,972£360 pm x 36: £12,960Balance at end of term: £36,770.
Prices from: £150,000
Surrounded by orange groves, short distance from the town of Koycegi. Private pool. Magnificent mountain views.
Prices from: €118,000
Bedrooms: 1, 2 & 3
Just 500m from the sea. Stunning open sea views. Double glazed, air con, fully fitted kitchen, balcony.
Price: £79,000
One of 9 detached villas with communal pool and fantastic garden. 300m to town centre, 1km to the beach.
Price: £22,741
Bedrooms: 1 - ground floor
0% Finance36% deposit: £8,186£360 pm x 36: £12,960Balance at end of term: £1,595.