Turkish Property Press Release

Turkish Property Agent Spot Blue Announces Developer Checks 
 
Turkish Property Agent Spot Blue Announces Developer Checks  Spot Blue have become one of the first UK based Turkish property agents to run due-diligence checks on all the developers they work with in Turkey, and to have detailed reports drawn up into the developers history and potential for trustworthiness.

Director of the company Julian Walker said:

"Many people in the UK wouldn't buy a shirt without knowing it was from a trusted brand. Yet many people have paid many thousands of pounds in deposits and stage payments for Turkish properties without having a clue who they are paying that money to.

"Spot Blue has built up a good reputation since we started trading in Turkish property in 2003, we have now moved to secure that reputation by commissioning reports into all the developers histories and reputations, as well as a opinion on how good a company they are and whether they can be trusted with our client's money."

Julian told me that the reports will tell people whether the company is legally registered, when it was registered, past and present directors and senior staff, development history and completion status, annual profits, and an opinion on their status.

This isn't Spot Blue saying that people shouldn't do their own research before buying a property in Turkey. It is simply a process to make it a little easier by doing the due-diligence on the client's behalf.

"The old saying goes there's a first time for everything, so a solid development history doesn't mean a developer can't make a mistake. So we still recommend that people make property inspection trips to Turkey to meet the builders," said Julian, adding:

"These checks that we have performed will simply take all of the work out of checking into a developer, because it is all there in black and white and from independent sources. Of course, after seeing these reports we would have removed any bad ones. However, our strong Turkish connections and knowledge meant we didn't have any anyway."

To contact Spot Blue, call 020 8339 6036

Turkey "the Only Logical Choice" for Expats According to SpotBlue

According to AXA, the current state of the nation will see up to 500,000 Britons flee the UK in 2008, with a survey from HSBC revealing that Britain is now not even considered a good place to live by people from other countries. So it seems that the UK is set to suffer considerably from the disastrous state of the economy, and from the government’s attempts to solve the significant financial problems that Great Britain is facing.

Added to these predictions and survey findings are the bare facts that one person is being declared bankrupt or insolvent in the UK every five minutes, over 100 properties are being repossessed in Britain each day, and average household debt has reached £9,500 as the personal economic situation of Britons worsens.

Reacting directly to these worrying facts, Julian Walker, Managing Director of Turkish property specialists Spot Blue, has spoken out about the choices that Britons realistically now have to face. In a recent interview, Walker explained that in his opinion there is only one logical choice for British citizens who want to escape the winter of discontent that’s fast enveloping the entire nation:

“Britain’s economy is severely stretched and we have to accept that the fiscal landscape of our nation will never be the same again. It’s the real people who are being affected by the sorry state of the economy, and as every person in this country knows, we haven’t even begun to see the final repercussions of the crisis yet. As billions of pounds have been wiped off the stock markets and banks around the world teeter on the brink of bankruptcy, it’s the pensioners and soon-to-be-retirees who are going to be most radically affected in these very tough times. The value of pensions are being decimated, and as inflation has been edging upwards in Britain, the real cost of living for those in, or about to enter retirement is becoming worryingly ever more expensive.

“If people want to escape the UK meltdown and enjoy a comfortable and prosperous future, they increasingly realise that Britain is not the nation for them in retirement – and in our opinion at Spot Blue, Turkey is one of the few logical choices for those seeking the perfect balance of lifestyle and financial advantages. In Turkey, British retirees are made to feel welcome by the local people from the very first day of their new life abroad – and with HSBC offering over 18%pa on deposits, Britons will immediately see the value of living in Turkey in terms of the more positive state of their bank balance.

“With low property prices and the cost of day-to-day living in Turkey is a fraction of what it is in the UK – from council tax to heating bills, Turkey is significantly cheaper. The climate in Turkey’s southern coastal regions is also much warmer and sunnier than the British climate, which means that people spend far more time outdoors and engaged in outdoor activities, which is better in terms of health benefits."

Low Cost Flight Boost for Booming Turkey

Whilst the rest of the world wallows in economic woe, booming Turkey is seemingly bucking the trend with investment analysts from multiple institutions quite confidently predicting long-term positivity in terms of Turkey's financial development.
Backing up these positive predictions is firm evidence that the nation is attracting growing numbers of international visitors who are helping to underpin a solid fiscal environment. For example, Turkish Airlines have reported an over 14% year on year growth rate for the first nine months of 2008, and now the British low cost carriers Jet2 and FlyGlobespan have announced brand new routes from Leeds/Bradford, Glasgow, Edinburgh and Aberdeen airports in the UK to Dalaman - the gateway to Turkey's Aegean coast.

As Turkey remains on the cusp of EU entry but well outside the eurozone, so it manages to maintain a uniquely attractive position with both visitors and investors. The likes of these airlines recognise that the relative affordability of the lira based economy will attract growing numbers of British and European tourists who want to make their spending money go further. Therefore they are keen to take up air space and travel routes as they become available. At the same time, the likes of Deutsche Bank, PricewaterhouseCoopers and Merrill Lynch, (now owned by Bank of America), are waxing lyrical about Turkey's long-term potential and appeal as it edges ever closer to full membership of the European Union.

According to Julian Walker, Managing Director of Turkish property experts Spot Blue: "Destinations like Dalaman are obviously seeing the very real and very positive effects of the overall global confidence that exists in Turkey as a nation. Not only are airlines increasing flights to the resort, new airlines are entering the skies and tourism numbers are predicted to increase as new facilities and attractions in and around Dalaman, such as the Hilton Dalaman Golf and Spa Resort, come on line.

"For those looking to diversify their investment portfolio or who are seeking an alternative for their savings, Turkish property has become something of a must-have. Investors recognise the long-term potential for gains in resorts as attractive as Dalaman where increasing demand brought on by advancing sophistication could result in rising prices. At the same time, would-be second home owners, who also want to earn an income from their investment purchase, realise that there is very real demand for tourism rental accommodation in a resort as rapidly advancing as Dalaman. What's more, the future direction for the holiday market is likely to embrace self-catering more and more as holiday makers hit by the credit crunch and general state of the world's economy seek more affordable ways to vacation. This is great news for those with a second home in Turkey's most in demand coastal areas, because they can offer their property to self-catering holidaymakers during the long hot summer season that Southern Turkey enjoys."

Spot Blue are experts on the property market in Turkey and have real estate projects all along the Turkish Mediterranean and Aegean coastlines.

For more opinion about the Turkish property market and for details of the stunning second home and investment property opportunities that exist in Turkey, contact Spot Blue on 020 8339 6036 or visit www.spotblue.co.uk

Where in the World?

Where in the world..Can you find an adoringly restored natural stone built house, with Laura Ashley interiors, surrounded by fruit orchards and olive groves? France? Spain? Croatia? The answer is Turkey in the local ecological village of Kirazli.

We have spoken to Karyn Phillips, the lady who owns this beautiful property which is currently on the market with specialist Turkish agency, Spot Blue. Karyn’s vision for property and building communities is something she has nurtured and developed throughout the years. Having spent 12 years at the hard end of social care, Karyn opted for an early retirement and took up part time property development… and if that conjures up images of two up two down house renovations, you’d be very much mistaken. Her first project was building a jungle house on a tiny Mexican island in the Caribbean.

Karyn has only ever been interested in unique projects which offer more than just a home in the sun, she sought out potential for small business opportunities and ways to involve whole communities. Karyn comments, “As we worked on each project we also found that contributing to the small communities we were in was as important to us as finding a viable business opportunity for the buyer. We believe that our houses have to fit into their environment, offer something of benefit to the whole community and promote the area in general.” The house in Kirazli has the potential to be an art studio and gallery, small day spa or venue for art holidays.

Karyn fell in love with Turkey when she first visited, “We found a beautifully diverse country with amazing views, real drama in the scenery and a vibrant culture. It really just blew us away.” Kirazli is perfectly situated just outside of Kusadasi, it is charming and tranquil yet close to Izmir airport and the Aegean coast beaches.

The house was bought with the intention of renovating it and selling it on to someone looking for an active retirement or overseas business dream, “For us it was always about achieving the reality of an idea, not about keeping the home forever, that was for the people who got to buy it”. Since Karyn’s husband passed away in April she has already set her sights on new projects in Turkey, each project gets more environmentally friendly and more authentic - key skills of a good sustainable property developer.

The stone houses in Turkey can be difficult and costly to renovate, one of the reasons that so many are knocked down to make way for cheaper brick houses in their place. But true to her beliefs, Karyn’s intention was to lovingly restore the property using local craftsmen and reclaiming materials wherever possible. Every room was planned out in detail before any works commenced including interior layouts, themes and water colour sketches of the ‘vision’. It has been designed to be welcoming, combining wow factor with warmth; it has elements of Tuscan style with shutters on the windows and textured porcelain floor tiles in muted colours. With an injection of Laura Ashley furnishings there are also evidence of an English country feel from the shaker style kitchen to the hanging scented hearts on the cupboards.

If this property isn’t perfect enough already, then knowing that the neighbours drop round gifts of fruit and home made cheeses will help complete the dream. “When I am in Kirazli I know I am safe. My neighbours aren't intrusive or in your face, they just quietly accept me and watch out for me.”

Most of the families in the village keep goats and sheep for their milk, it is a true farming community. The village is surrounded by cherry (Kirazli means Cherry Village) orchards, vineyards, peach orchards and olive groves. Everything moves to the rhythm of the crops, first the green almonds in April, then the cherries in May and June, then the peaches, the grapes in September and winter for the olives.

It is no surprise then to learn that Kirazli is an ecological village. The headman Hussein, elected by the locals to democratically manage the village with a team of advisors, has ensured that the surrounding pine forests are protected and he has helped create a centre for ecological farming. As part of pre-accession European funding Kirazli received a grant to fund a three year project to establish the first organic seed stock in Turkey. This project has just come to a successful end and further projects involve expanding the organic orchards. But Kirazli certainly isn’t without its regular amenities, the village has two butchers, two general stores a weekly bazaar on a Tuesday, a high school, two boutique hotels, a carpenter, a mechanic and several extremely good restaurants.

Overall Turkey offers a huge amount to the careful and discerning buyer. Prices continue to rise steadily and the credit crunch isn't biting as hard as it is the rest of Europe. Also, for British buyers flexibility on the currency you use to buy in makes it a good alternative to the Euro zone where the strong Euro makes prices hard to swallow.

Apart from economic factors Turkey offers something culturally different, an appealing lifestyle and lower cost of living. It is a remarkably safe country with very low figures for crimes against the person and it is a country that still values the community.

And for those buyers willing to venture outside of the main tourist zones and the mainstream options there are huge rewards available in terms of discovering a whole new way of life and culture without sacrificing the modern amenities they need.

For more information, visit www.spotblue.co.uk

Going in Search of the Good Life

There is now no denying the fact that increasing numbers of Britons are actively considering searching for the good life abroad.  As the cost of living in the UK rises and Great Britain teeters precariously on the brink of recession, those whose lives are impacted are no longer passive to their fate, rather they are actively exploring their options, and for many this involves looking overseas for a better quality of more affordable life.
According to the BBC, “every three minutes a British national packs their bags and starts a new life abroad,” according to the Fresh Start Show, 72.2% of young Brits are considering moving abroad, and according to the Institute for Public Policy Research, 5.5 million Britons have already made the move overseas.  The reasons behind this mass exodus are easy to understand, for one thing the state of the economy in the UK leaves a lot to be desired as inflation increases, house values decrease, wages stagnate and companies’ order books lie empty.  Adding to the sorry state of the nation and Britons’ attitudes towards it are additional undeniable facts such as that the summer is proving to be a washout, crime levels appear to be rising and now the government has reduced the threshold at which individuals fall into the 40% tax bracket.
All in all it is unsurprising that so many Britons are contemplating a move overseas, and in their search for a nation that will offer them a better standard of more affordable living, Turkey is one of the hottest countries luring in Brits who are jaded and fed up with life in the UK.
Turkey is almost the perfect antidote to all that is lacklustre and wrong with life in Britain.  For example, along the Aegean and Mediterranean coastlines of Turkey the nation enjoys a fabulous climate, with newly arrived Britons commenting on the positive effect that waking up to blue skies every day has on the psyche.  The cost of living in Turkey is a fraction of that in the UK – everything from property costs to grocery costs, from the price of clothes to the price of cosmetics is cheaper in Turkey – and cheaper by far.  What’s more, the pace of life is slower, the people are more friendly, open, relaxed and welcoming and those who move from the UK to live in Turkey are finding that their new life is everything that they could have dreamed of and more.
Take Adam Jack, a former postman from Chester who moved to live in Turkey with his wife recently – he comments that he is so impressed with Turkey and the Turkish people, that the climate is a blessing and that everything about his new life is ideal, and even his dog is happier in Turkey than he was in the UK!  His feelings about his new home country are typical of those of almost all Britons – young and old – who move to live in Turkey to enjoy a better quality of life.  Another fact that many expats who are now living in Turkey benefit from is that the country is becoming better served nation-wide by low cost airlines, which means that getting to and from Turkey is now quick, cost effective and easy.  This allows Brits to easily keep in touch with friends and family back home and it also means that those living in their villas and apartments looking over the Med can expect to receive plenty of visitors from the rainy UK!
However, one question that is often asked about Turkey is whether it is truly a good choice for the long-term.  Does it have the necessary infrastructure in place to support increasing communities of expatriate residents, does it have the healthcare facilities in place, is the economy stable and where will Turkey be in 5, 10 or even 15 years?  These are all very important questions to answer for those who are potentially investing their entire future in Turkey by moving from the UK to live there.  And the good news is, Turkey’s economy is growing rapidly but sustainably, Turkey is working hard to achieve its ultimate goal of EU entry, the nation has first world medical facilities, the government is investing billions into key infrastructure and targeting many of the resorts where Britons make their home first, the nation’s real estate industry is thriving meaning that those who buy a home in Turkey are buying an investment, and in the short, medium and long-term, Turkey appears to be a far more stable and positive bet than Great Britain as it emerges to fulfil its true economic potential.
Is it any wonder then, that increasing numbers of Britons are packing their belongings and heading in search of the good life by moving to live in Turkey?
For further information contact Spot Blue on 0208 339 6036 or visit www.spotblue.co.uk.

Turkey’s Attraction Alleviating FREDs’ Fears

A brand new demographic group has been identified in Britain and labelled FREDs.  Members of this demographic are over fifties who are ‘facing retirement earnings doubts,’ and according to the likes of Liverpool Victoria, the friendly society, and the Office for National Statistics, this group of around two thirds of all over fifties have very real fears that they will face an impoverished retirement.

With the cost of living in the UK rising so rapidly and with increasing numbers of FREDs still supporting their children because the rate at which the housing market has risen in pricing terms in Britain has priced younger generations out of the market. FREDs have every reason to be concerned about their financial wellbeing in retirement.  According to a UK based research company, the price of a typical basket of 100 grocery items now costs almost 6% more than it did at the start of the year and this week fuel prices in Britain reached their highest ever levels. Leading retailers are reporting that Britain is in a ‘consumer recession’ as fewer people head to the high street and spend, and inflation in April in the UK rose to its highest levels since 2002.

All of these factors are contributing to the fears faced by the FREDs, and with ongoing indications of a ‘credit crunch’, the likelihood of a recession in the UK and the fallout from a falling property market, those FREDs who can do so are actively thinking about an overseas retirement where their pension and savings income will go that much further.

According to Julian Walker MD for Turkish property agents Spot Blue: “countries that are less likely to be considered now because of the gulf between the buying power of the weak pound against the mighty euro are Spain, France and Cyprus – traditionally hugely popular overseas retirement hotspots with British pensioners.  Instead FREDs are looking at where the pound buys them more and where their relatively limited funds will afford them an attractive and even affluent lifestyle in retirement and prevent them having to continue working past retirement age.”

“The one country that is proving popular is Turkey; since the nation began EU accession talks at the same time as a national drive was effected to promote the appeal of the country, the numbers of Britons choosing to relocate to the country has soared, and depending on which statistics you prefer to believe, between 12,000 and 30,000 Brits have now made Turkey their permanent home.”

The appeal of the country - aside from its stunning climate, beautiful natural landscape, rich and diverse history and culture, fantastically friendly people, excellent cuisine and increasingly affordable accessibility - has a great deal to do with the correlation between the cost of living, which is very low, and the standard of living which is very high.

In Turkey a loaf of bread costs you just 20p and the average wage for a professional teacher is just £300 a month, dining out at a restaurant favoured by locals will not cost more than £10 a head. Local seasonal produce at market you will be able to live on £50 a week as a couple easily, and because the weather in southern Turkey is so temperate, fuel bills are very low indeed.  Even the price of healthcare in Turkey is affordable, and according to a British retiree who has recently relocated to Turkey, not only is the cleanliness of hospitals in Turkey phenomenal - MRSA does not exist in the nation she explains – but the whole experience of going to hospital in Turkey was “efficient and personable.”  This comes from Rosemary Nigbur who doesn’t miss the NHS, doesn’t have health insurance in Turkey, (a personal choice not a recommendation) and who goes to the pharmacy for the majority of health concerns. Rosemary says “the cost of living in Turkey is a mere fraction” of what she was paying when she lived in Britain.

Like many FREDs who have recently moved to Turkey Rosemary finds the cost of living very attractive and has seen the value of her stunning Turkish villa rise 30% in a year. Despite these increases properties are still very affordable making Turkey quite possibly the perfect solution to the financial woes of FREDs who do not want to end up in poverty in retirement.  For more information about affordable and attractive property in Turkey please contact Spot Blue on 020 8339 6036 or visit www.spotblue.co.uk.

Istanbul has been named the world’s second best place to invest in property* – and now investors with all budgets have their eye on Turkey’s first city.

With the fourth highest number of billionaires [Source: Forbes], Istanbul proves that Turkey isn’t just about good value coastal property. Rental yields are reaching up to 7.6% for apartments in the city centre, while developments in the suburbs are giving returns of up to 8.8% [Source: Global Property Guide].

Demand is being driven by Istanbul’s domestic and international population, which is growing at 1.5% a year**, giving year-round rental opportunities for buy-to-let investors. Billions of dollars worth of foreign direct investment are also pouring into Istanbul’s real estate – $15billion-$20billion predicted in 2008 [Source: International Investors’ Association].

According to Turkey’s Land Registry General Directorate, 73,000 foreigners now own property in Turkey, with 8,830 buying in Istanbul. Julian Walker from Turkey property specialists Spot Blue says: “Investors are scrambling to have their own square metres in Istanbul because they feel confident of the city’s excellent rental returns”.

“Others are reallocating their funds because the Istanbul market is still showing signs of growth. Spot Blue has also been sourcing hotels for private investors who are confident they’ll get good returns if Istanbul wins its bid to be the European Capital of Culture for 2010”.

“Istanbul might be way down the list of the world’s most expensive cities, at number 37 [Source: Global Property Guide], but it has property to suit the budget of a billionaire. And while there might be a global credit crunch, buy-to-let properties in Istanbul are proving popular for a younger demographic who are looking to use their profit to get on the UK housing ladder. We are now offering finance deals for the buy-to-let investor.“ says Walker.

“Spot Blue is offering these clients a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul”.

“For a higher budget we’re selling a stunning €6.5 million reconstructed palace with grand interiors, studio penthouse and amazing views over the Bosphorus.”

Istanbul facts at a glance:

- *PriceWaterhouse Coopers and the Urban Land Institute have officially named Istanbul as the second best place to invest in property, behind Moscow.

- Forbes, in the US, says Istanbul has the fourth highest number of billionaires in the world.

- Global Property Guide says city-centre residential rents in Istanbul range from $1,850 per sqm to $2,500 per sqm, giving yields of 6.32%-7.58%.

- Global Property Guide says rental yields in the suburbs range from 6.5% to 8.8%.

- **Government-backed Tourism in Turkey says it is confident Istanbul will win its bid to be named European Capital of Culture in 2010.

- Istanbul’s chic restaurant line-up is now attracting even more high-profile and famous clients with the opening of Japanese restaurant Zuma – the favourite dining hangout of the Beckhams and Madonna.

Turkey facts at a glance:

- Turkey’s Deputy Prime Minister, Nazim Ekren, says annual GDP is growing at 6.5%-7%.

- The British Chamber of Commerce for Turkey says every week the government’s Investment Assistance & Promotion Agency receives 25-30 foreign visitors looking to make major investments in Turkey.

- Foreign investment in real estate was $3 billion in 2006 [Source: Colliers].

- European investment in Turkey was $14.7 billion in 2006, up from $6.6 billion in 2005 [Source: Colliers].

- The International Investors’ Association (YASED) says Turkey can expect a foreign investment inflow of $15-20 billion from 2008 onwards.

- A new mortgage system has opened up the Turkish market for both Turkish nationals and foreign investors.

- Spot Blue has secured several mortgage products for its clients, including a buy-to-let mortgage to suit a city investment in Istanbul.

- Annual population growth of 1.5% [Source: Colliers]

Walker from Spot Blue continues: “As Istanbul grows, there are other areas on the verge of the city that will go up in value. None of this is overnight, which is why we advise our clients to invest in Istanbul for the long-term. One thing’s for sure – investors are certainly getting a lot more value for their money compared to London.”

12 Golden Rules To Buy Property Safely In Turkey, Without A Visit

 
Turkish property specialist Spot Blue says property buyers in Turkey who snap up bargains without even going to the country are putting their cash at risk. The property expert, who has had 100 per cent sales following all of its inspection trips in 2008, says the craze for coastal property is exactly how Spain’s property boom started on the Costa del Sol.

Spot Blue director Julian Walker says: “It’s surprising how many people are simply phoning us with their property order without visiting the country first. Property buyers in Turkey are mirroring British investors of 30 years ago, who bought off-plan properties on the cheap by the dozen before they even stepped foot on a plane.

“If buyers insist on doing this we tell them to first find an independent lawyer so Spot Blue can organise for their reservation deposit to be placed in their lawyer’s secure escrow account. Then we give our clients tips to stay safe in the Turkish property market.”

Recently, one of Spot Blue’s property developments in Side, on the Mediterranean coast, sold out before the plans were even released – but the agent still managed to secure the first level of prices for its clients.

“After the first batch were sold, the price went up by £5,000, and when the second batch sold out a few days later the price went up by a further £8,000,” says Walker, who adds: “It is still possible to make a good investment without visiting Turkey but buyers should follow Spot Blue’s 12 golden rules to stay safe.” These are:

1. Find a lawyer who acts independently to the agent or developer

2. Find a reliable estate agent who belongs to trade bodies such as the AIPP, NAEA, FIABCI or the Turkish British Chamber of Commerce (TBCCI)

3. Thoroughly research areas, prices and rental potential on informative websites like turkisheconomy.org.uk and tbcci.co.uk or spotblue.co.uk

4. Make sure you understand your contract and what you are signing.

5. It should be written in both English and Turkish, while all changes are agreed, signed and notarised.

6. Pay monies into lawyers’ or agents’ client accounts or escrow accounts.

7. Search for a comprehensive range of property in the region in the relevant price range and have a choice of property to choose from.

8. Set a budget and stick to it, or at least set your maximum budget.

9. Use an agent with offices in both Turkey and the UK.

10. Use a well-established agent who specialises only in Turkey.

11. Deal with English-speaking people.

12. Make sure you retain some part of the payment till you take delivery of your title deed (or TAPU).

Walker continues: “Spot Blue is a member of six trade organisations in both the UK and Turkey which is why our clients see us as one of the most reliable and trustworthy agents selling property in Turkey.

“So far in 2008, we’ve bucked the market trend that claims 77 per cent of sales are made after an inspection trip and achieved 100 per cent sales after all our client visits in 2008. But if buyers can’t travel to Turkey for whatever reason then they should follow our golden rules to stay safe.”

FIRST TURKISH MORTGAGE FOR SPOT BLUE
Turkish property specialist Spot Blue arranges its first Turkish mortgage for off-plan property

Spot Blue has arranged its first mortgage on a Turkish property for a UK buyer – showing the agent is at the cutting edge of securing Turkish finance for clients. The loan, for software consultant Steve Hardy, 43, is set to widen the doors of the Turkish property market because even more Brits can now buy into the country’s beautiful coastlines, its sunny weather, friendly people and great value property.

Turkey’s new mortgage law for foreign buyers is passing its final stages through parliament but property consultant Julian Walker from Spot Blue says it can arrange finance in Turkey for British investors right now.

“Stephen secured his £70,900 Turkish property with us at a recent overseas property show, after which he paid a £2,000 refundable deposit to his lawyer’s escrow account,” says Walker.

“He paid the first payment of 30 per cent [£20,000] out of his own savings and Spot Blue arranged the final payment of 70 per cent through one of the largest Turkish banks. Stephen is one of the first buyers we know of to secure finance for off-plan property in Turkey.”

However, Walker warns that some agents are promising their clients mortgages of 100 per cent. “This is not the case. They’re promising a 100 per cent loan and then undervaluing the property – it’s a load of waffle in my opinion. You can’t get a loan-to-value mortgage of 100 per cent, it’s more like 70 per cent.”

Investor Steve Hardy, whose two-bedroom duplex apartment will be completed in December this year, says: “I was told by everyone that it would be really difficult to secure a mortgage in Turkey but Spot Blue did everything for me – they made the whole process of buying so easy. I’ve secured a variable rate mortgage and I’m expecting to pay around 8 per cent from December.”

Mortgage rates are higher if buyers intend to rent out their property.

Spot Blue can set up a range of finance packages for British buyers in Turkey through its contacts among brokers and banks in Turkey. The founders of Spot Blue have a background in City banks and have worked under the strict government-endorsed rules of the Financial Services Authority.

Walker says: “Spot Blue use these guiding principles throughout our sales process – we don’t mis-sell. We are also members of the Association of International Property Professionals and the NAEA.”

DO-IT-YOURSELF TURKEY VILLAS!

Turkey’s lower cost of living and property construction costs tempt more buyers, who are priced out of the UK, to self-build their own pension pads

Turkey is proving to be the ideal place to buy land, build your own villa – and leave enough money to live through retirement. More and more buyers are opting to self-build in Turkey, says Julian Walker from UK-based Turkish property firm Spot Blue.

“There are 2.06 million people in the UK and Ireland who own property overseas¹ – that’s one in 30 people – and recent figures suggest many of those are looking to relocate permanently,” he says.

“Analysts say that as much as 85 per cent of overseas property buyers are happy with their investment, compared to just 50 per cent who own UK pensions². So it’s not hard to see why buyers are choosing Turkey – it gives investors great value property, a lower cost of living, a warm climate and really friendly people.”

Former BBC engineer David Nigbur and his wife Rosemary say their cost of living has fallen dramatically since Spot Blue helped organise the building of their three-bedroom villa in Uzumlu, just outside Fethiye – a 45-minute drive from Dalaman airport. And the price of their completed property has already increased by 30 per cent. The couple paid £113,000 for the land and building - two weeks after they moved in they had it valued at £140,000.

Rosemary says: “It was never going to be completely easy relocating to another country but we are very very happy with the villa. The buying of land and the property side of things has been very smooth. The pace of lifestyle is so different to that of the UK so we know it’s all been worth it. We’re now sitting in our T-shirts by the pool and it’s winter here!”
The pair, whose land purchase was also managed by Spot Blue, aren’t worried about medical care just yet - a new hospital has been built in the area and the cost of healthcare is low. The killer hospital bug MRSA, which has struck thousands of patients in NHS hospitals, is not even present in Turkey, says Rosemary.

“We treat all our minor illnesses at a local chemist and when we had to take our neighbour’s daughter to hospital recently the cleanliness was phenomenal,” she adds. “The whole service was efficient and personable – we waited 10 minutes for a doctor and specialist and it cost about £20 – so I don’t miss the NHS at all!”

With the rest of their retirement to look forward to David and Rosemary say the size of Turkey [about three times that of England] will keep them busy exploring.
They’ve also persuaded their friends to build their own villa nearby and they’ll enjoy visits from their four grown-up children and two grandchildren. Art lover Rosemary is also assessing the local market with a view to opening her own gallery.

David adds: “There is a ski development being built as we speak and that can be reached within one and a half hours. We’ll definitely be trying it at some point in the future with family and friends.”

Rosemary says: “Turkey’s a stunning place to live and very affordable. We were originally going to Greece but when it joined the EU prices shot up. We are so glad that we ended up in Turkey as the people and climate are fantastic.”

Turkey’s early Christmas joy as new flights, big businesses and a hike in tourist numbers make it the next property favourite for Brits.

British second-homebuyers have received a massive confidence boost that Turkey’s property market will be even stronger in 2008.

Turkish property specialist Spot Blue says that factors considered crucial for a property market to grow – such as new flights, foreign direct investment, a growing economy, an increase in visitor numbers and availability of mortgages – are set to push the country further into the limelight next year.

Fact, not fiction:
• Tourist figures have jumped by a staggering 23.5%* since last year, proving that Turkey’s racing to the top of Brits’ list for hot getaway destinations. (*Source: Turkish Statistics Institute. Year-on-year figures Sept 06-Sept 07)
• BMI has just announced six direct weekly flights to Ankara from the UK; British Airways will fly to Antalya from early next year, while more UK no-frills airlines are rumoured to be circling Turkey to set up new flights.
• Brits’ number one shopping favourite Tesco says it is to increase its store presence in Turkey by 33%, while big businesses such as Gap, Hilton Hotels, B&Q, Marks & Spencer, IKEA, Microsoft and Easyjet, have announced they are to invest long-term into Turkey.
• A new Turkish mortgage law is also going through parliament and is set to bring a lifeline for Brits wanting to make early investments in Turkey’s fast-growing property market. This is set to open up the market in early 2008 but Spot Blue can arrange mortgages for buyers in the UK right now.**
• A major government review is now in process with the aim of making the purchasing process easier for foreign buyers in Turkey.
“You’d think all these factors, plus Turkey’s climate and great-value property, were the only things driving more British to buy here,” said Julian Walker, spokesperson of Spot Blue. “Turkey’s efficiently-run and low-cost healthcare system is also one of the top reasons our clients are buying in Turkey.”
He added: “This is tempting many buyers to leave behind the UK’s NHS system to receive some of the world’s best medical care in Turkey. Even botox is cheap here - so I’m told.”

SPOT BLUE WEBSITE REVAMPED TO OFFER EVEN MORE CHOICE AND ADVICE FOR PROPERTY BUYERS IN TURKEY

Spot Blue has revamped its website to offer even more choice and advice on finding and buying a dream home in Turkey.  Whatever the price range, the new look site – www.spotblue.co.uk – offers buyers a comprehensive range of apartments, villas and land in more locations.  Spot Blue is an independent UK-based property agent who only sell property and land in Turkey.

When you buy a property in Turkey, you invest in far more than simply bricks and mortar.  Spot Blue provides buyers with unbiased and impartial advice and is committed to making sure they get the best property for their budget.  The company is not tied to a specific builder or developer.  With offices in Turkey as well as the UK, Spot Blue has a wealth of local knowledge and the experience and expertise to make sure purchases are completed without a hitch. 

Purchasing property abroad does not have to be complicated and stressful!  By providing the very best in customer care before and after purchase, Spot Blue aims to make buying a dream home in Turkey both pleasurable and enjoyable.   

“Turkey is an increasingly popular destination for UK-based customers buying overseas homes, and this trend is set to continue”, said David Walker, managing director of Spot Blue and also a director of the Turkish-British Chamber of Commerce and Industry.  “Spot Blue’s new website is an exciting and significant development in providing those buyers with a comprehensive range of available property from the best and most reliable builders.  But Spot Blue offers much more than just choice – we provide the know-how and personal care to help remove the difficulty and stress from buying abroad”.

As part of its personal care commitment, Spot Blue arranges viewing trips in Turkey for prospective buyers.  The company can book direct return flights from a chosen UK airport and provides hotel accommodation to suit buyers’ individual requirements.  Spot Blue’s English-speaking sales representative organises one-to-one viewings of as many properties as needed.  When buyers find a property they wish to purchase, Spot Blue’s representatives help with all documentation through a lawyer, including tax numbers and opening a bank account, and give an initial introduction to furniture shops.  Spot Blue does not operate a "high pressure" approach to selling property.

Spot Blue sells properties in the most sought after areas of Turkey – in fact, most places where you are likely to want to buy your dream home.  Property locations include Alanya, Avsallar, Manavgat, Side, Belek, Saklikent, Kemer, Kas and Kalkan on the Mediterranean coast and Hisaronu, Fethiye, Calis, Oludeniz, Ovacik, Gocek, Dalaman, Dalyan, Marmaris, Icmeler, Datca, Bodrum (and all surrounding villages), Altinkum, Didim, Akbuk and Kusadasi on the Aegean coast.

Why not see the properties and locations for yourself at www.spotblue.co.uk?  For further advice and information, contact Spot Blue on +44 (0)20 8339 6036.