Turkey Property Investment Set to Soar Following Government Reforms
Obelisk International receives news on imminent reforms to Turkey’s legal and mortgage system which is set to spur a dramatic rise in demand for Turkish property, and will allow current investors to take advantage of current value for money, pre-boom prices by releasing their existing equity.
The impending changes to Turkish law which will allow main stream availability of mortgage facilities from 2008, is expected to see Turkish property values rise by an incredible 100% over the next two to three years, according to property investment news. The introduction of new initiatives and products by authorities and financial institutions will further encourage discerning property investors looking to catch early profits in the country’s property market.
Topping the Currencies Direct index of global emerging markets twice consecutively, continual increase in annual tourism figures, and with the government’s implementation of the national tourism development plan to run until 2010, the Turkish market is presenting itself as a promising property investment destination. Property investors following a buy-to-let strategy in particular, show significant potential to earn rewarding returns on their investment.
Obelisk International believes that the availability of local mortgages will substantially increase demand as funds pour into the Turkish property market, pushing up rental incomes and prices of property in Turkey. These new reforms combined with the country’s huge domestic population of 70 million, and the prospective EU membership, promises a very attractive proposition to foreign property investors.
Mark Gannon of Global Mortgages Direct, comments “With new mortgage products entering the Turkish market, it is now possible for any investor to gain access via the right mortgage option for their needs, opening the Turkish investment market to many who may not have had access in the past.” The company, at the cutting edge of mortgage development for foreign markets, told Obelisk International they are currently assisting several Turkish lending institutions in the design of mortgage products that meet the needs of foreign investors.
Mortgages include 65% LTV, up to a 20 year term, at 6.96% fixed rate for 20 years. Multi-currencies are available for both off-plan and completed properties. An equity release mortgage of up to 75% LTV is also available to purchase another property in Turkey or abroad. A variety of other products are emerging between 50% and 75% LTV.
For more information on Turkey property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/
The impending changes to Turkish law which will allow main stream availability of mortgage facilities from 2008, is expected to see Turkish property values rise by an incredible 100% over the next two to three years, according to property investment news. The introduction of new initiatives and products by authorities and financial institutions will further encourage discerning property investors looking to catch early profits in the country’s property market.
Topping the Currencies Direct index of global emerging markets twice consecutively, continual increase in annual tourism figures, and with the government’s implementation of the national tourism development plan to run until 2010, the Turkish market is presenting itself as a promising property investment destination. Property investors following a buy-to-let strategy in particular, show significant potential to earn rewarding returns on their investment.
Obelisk International believes that the availability of local mortgages will substantially increase demand as funds pour into the Turkish property market, pushing up rental incomes and prices of property in Turkey. These new reforms combined with the country’s huge domestic population of 70 million, and the prospective EU membership, promises a very attractive proposition to foreign property investors.
Mark Gannon of Global Mortgages Direct, comments “With new mortgage products entering the Turkish market, it is now possible for any investor to gain access via the right mortgage option for their needs, opening the Turkish investment market to many who may not have had access in the past.” The company, at the cutting edge of mortgage development for foreign markets, told Obelisk International they are currently assisting several Turkish lending institutions in the design of mortgage products that meet the needs of foreign investors.
Mortgages include 65% LTV, up to a 20 year term, at 6.96% fixed rate for 20 years. Multi-currencies are available for both off-plan and completed properties. An equity release mortgage of up to 75% LTV is also available to purchase another property in Turkey or abroad. A variety of other products are emerging between 50% and 75% LTV.
For more information on Turkey property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/
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