Finance

Financing And Investing In Turkey Financing your property purchase can be a daunting experience, especially in a foreign country, you may be asking yourselves in the curent climate is this a good time to be buying property anywhere, especialy with the UK descending into an economic freefall full of doom and gloom everywhere. But ask yourself one important question-Do you want to keep your money in the UK where the chance of a return on investments is zero in the present climate? So perhaps some words of encouragement will help. Turkey is beating Spain in terms of British tourism arrivals, this year for the first time ever. According to a leading British travel company Turkey is now the top choice for Britons holidaying abroad. Turkey is seeing over 30% more arrivals from the UK this year compared to last year, and in the words of ABTA the country is enjoying spectacular growth. This adds up to one thing a demand for accommodation. Holidaying in Turkey is not a typical package holiday destination. It is a totally diverse country with something for everyone.With the increase in the demand for accommodation for tourists especially as the meditteranean and Aegean coast have good weather for approximately 10 months of the year, rental possibilites for property are huge. If you do decide to buy property in Turkey, it will be an investment in the future as property prices at the moment are very good compared to the UK. and the number of foreign investment companys interested in Turkey is increasing everyday.So if you are seriously considering buying property here, now is the time as prices are set to rise considerably in the next two years. Mortgages are a relatively new concept for Turkey, they were only introduced two years ago and are prooving very popular among foreign buyers, as a way of financing that holiday property or investment.It is a relatively quick process, the only thing that takes a while is the military clearance that can take from eight weeks to twelve for permission to be granted. The reason for the military application is that no foreigners are allowed to buy property or land near a military base or in a security sensitive area.Once permission is granted other paperwork is in place and you are set to apply for your mortgage. If you are not sure how to finance buying a property perhaps we can help, we have in place a mortgage company that deal with a number of banks. They access which lender is better for you, and help you through the whole process of buying and the good thing is some of the lenders fix the rate for the duration of the mortgage.