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Villas
in Turkey
Villas
in Turkey
Turgutreis
is the second largest but still a delighful sleepy little town at the western
tip of the Bodrum peninsula. It was so named after the famous admiral,
Turgut Reis. It combines a compact town centre with several long sandy
beaches and fragrant mandarin groves. You can enjoy fantastic sunsets
breathing in the purist air around whilst being fanned by gentle breezes.
During the night Tugutreis comes alive with its many locantas, bars, and
discos, it has something for everyone of all ages. Regular buses connect
Turgutreis with Bodrum, Istanbul and Ankara and all leave from the Turgutreis
bus station. There are 14 Turkish islands around Turgutreis as well as
the Greek Islands Kos, Kalimnos, Patmos.
Turgutreis
is where the Mediterranean meets the Aegean and boasts a newly built marina
with a projected capacity of 500 yachts. This marina is the third biggest
in Europe and many visitors pass through here during the summer months
including the gulets arriving from all over Turkey to participate in races.
This itself is a sight to behold with all the ships arriving in full sail.
The
Purchase Process
Buying a property
in Turkey is a lot easier than in many other European countries. Foreigners
may purchase land and property in Turkey in their own names provided that
properties are located in towns not in villages or rural areas and outside
of military zones. There must be municipality in the area where the property
is located and the property must be situated within the boundaries of that
municipality or borough. In order to acquire the title of a property, an
application has to be submitted to the local Land Registry Office in which
the property is situated.
After carrying
out necessary searches and checks for the above mentioned requirements,
the transfer of the title is done by the Land Registry Office. In Turkey,
it is legally compulsary for both sides (the seller and the buyer) to be
present at the entry in the property register. During the transaction,
the proofs or the documents concerning the transfer of the full purchase
price into Turkey must be presented to the Land Registry Office. A purchase
tax of 3% is collected from the purchaser during the transaction. An annual
property tax is collected by the municipalities (i.e. local governments)
at the rate of 0.3% for land and 0.1% for a house in the Fethiye area.
In the big cities these figures are double.
All
properties are subject to revaluation every year for tax purposes.
This may vary according to the area.
On newly built
properties, within 3 months of construction finishing, the buyer must complete
an affidavit and submit it to the municipality for these tax purposes.
EMP is happy to guide customers through this process for the first time.The
acquired property may be resold or rented out and the proceeds may be transferred
out of Turkey. Please note: Different regulations apply when a property
is purchased for business related purposes.
Resort Areas
like Bodrum/Turgutreis offer more than enough opportunites for investors.
For example a buy to rent 3 bedroomed properties can fetch £40 (or
around US$72) per night. A higher rate is acheivable during the holiday
season which runs from May till the end of October. There is talk
of opening Bodrum Airport during the winter months to UK traffic which
will undoubtedly raise the volume of travellers, thus increase the
rental opportunities.
The resort
is easily accessed from the Bodrum-Milas International Airport which is
only 52 km away with an alternative airport Izmir Adnan Menderes Airport
that is 275 km away by road.
Economic
and Political Status - Turkey is ruled by a single party AKP government
elected on 3 November 2002 which has continued to make progress with economic
and political reforms. The Turkish Parliament has concentrated on human
rights standards and bringing Turkey up to EU norms by passing a
number of Constitutional amendment packages. These are expected to be reflected
in the EU’s regular Progress Report in October.. The government is keen
on improving the foreign direct investment environment by implementing
market friendly policies. Their economic programme is strongly committed
to disinflation, sustainable debt measures, privatisation, FDI and public
sector reform.
After suffering
a financial crisis and severe recession in 2001, the Turkish economy is
well on the way to recovery. Growth was 7.8% in 2002, 5.9% in 2003 and
12.4% in the first quarter of 2004. The economy is expected to record a
strong growth this year. The main drivers spurring this growth are export-led
production and an increase in domestic demand along with tourism.
Links to
other related sites and resources:
Travels In
Turkey - Travels
In Turkey - I always find it interesting how people form opinions
on matters they have no experience with. Having traveled to some of the
more off-beat places in the world (Nicaragua, Panama, Peru, Saudi Arabia,
etc.), I’m constantly subjected to ‘expert’ analysis from the world’s most
opinionated armchair travelers. Conventional wisdom on Turkey, it seemed,
was no different. I was on a mission for my company: to seek sound, safe
international investment opportunities in an overlooked country.
Teaching English
In Turkey - Teaching
English In Turkey - Most people don't think about teaching English
overseas in Turkey, but from what the above article describes, it looks
like it might be just the right place to start your teaching adventure.
When teaching overseas it's always important to find out what you can do
when not teaching: does the country allow you to move around at will, or
are you constrained in where you can go and what you can see. Turkey seems
like a country where you could have fun inside and outside the classroom.
Exploring Turkey
- Exploring
Turkey - Uncovering The Past ~ by Nicolas Remy - Traveling through
the ruins of Turkey sounds like something I would like to do one summer.
The ruins of Turkey go back to the beginnings of recorded history. If you
want to get an idea of what it would be like and what you would see as
you passed through the Turkish countryside, then read the above article.
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