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
Price: £18,000
Type: Apartment
Bedrooms: 1
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: £19,500
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: £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: £19,900
City Views Complex is a new development of 30 one, two and three bedroom apartments in Didim Town Centre.All permissions have been obtained and land has been prepared in spring 2010. Construction starts in May 2010.
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
Price: £19,995
Full Description: One bedroom first floor apartment with shared swimming pool in Apollo temple area of Didim.Apartment has open plan kitchen and living room, 1 bedroom with balcony and family bathroom with electric boiler.220
Price: £20,000
Full Description: 250m2 land suitable for commercial or residential use, 40% planning permission, 3 and half floors.Sea views.GBP 20,000.
Full Description: Akbuk land 300m2 Belkop 300m2 land close to Akbuk sea front with planning permission for semi-detached 2 and half storey villa .Permission granted to build on 15% of land.GBP 20,000
Prices from: £90,000
Bedrooms: 1/2
My Residence Lara Beach Park Antalya is 300 meters away from Lara beach Park, just next to Turkey’s biggest five star holiday complexes
Price: £53,000
Bedrooms: 4 Bathrooms: 2
Semi-detached. Quiet residential area, ideally located for town centre & beach. Balconies, sun terrace, garden.
Price: £1990 - £8000 fractional ownership
Bedrooms: 2
Stunning two bedroom properties combining modern design with luxury living and boasting spectacular views.
Price: £95,000
Bedrooms: 5, 1 ensuite
On 700sqm plot. Lovely brick fireplace in living room. Large sun terrace, panoramic views, private pool, BBQ.
Price: £24,950
Bedrooms: 3
Shell to finish to own design. 10 minutes from town centre. Sea views from front, backs onto forest.
Price: £48,000
On complex with swimming pool, close to market & shops. Overlooks green park area. 3 mins from seafront.