Aside from regular real estate property deals, there are other large investments open to foreign investors.  Each property sale is characterized by huge amount of funds allocated by a foreign company or multinational in order to obtain an investment in Turkey.  This is the reason why it is categorized under largest property purchases in the country.

Recent largest property investment deals made in Turkey

In the past years, a lot of foreign companies seemed to be interested in property investment in Turkey.  As proof to that, the following transactions took place.

• March 2007.  Zorlu Holding bought the land of the General Directorate of Highways in Zincirlikuyu, Istanbul.  The property investment deal amounted to as much as $800 million.  Apart from this investment though, Zorlu Holding’s subsidiary, the Zorlu Real Estate group sought to develop the 96,505-square meter land by putting up another $400 million.
• July 2007.  Dubai Holdings committed to invest on properties located on the Levent business district in Istanbul.  The investment was said to cost $5 billion including the $5-million worth Dubai Towers.  The project is said to consist of 81-storey and 101-storey buildings.
• October 2007.  It was during this time when St. Martins Property Holdings – a company based in London – bought the 420,000-square meter Istanbul Cehavir.  The property is actually located in the Sisli District of the province and was seen as one of the biggest properties sold in Turkey.  The acquisition price was said to be the largest real estate property deal to date.  It was transformed by St. Martins into a shopping center.
• February 2008.  Emaar Turkey, the country-subsidiary of a well-established company known as the Emaar Properties PJSC, signed a contract to purchase a prime land in Istanbul.  The property sale amounted to $400 million and was signed between Emaar Turkey and Toprak Holding.  The 73,571-square meter of land is due to be transformed to several types of real estate property including commercial buildings, residential construction and tourism promotion.

These are but some of the largest property investment deals in Turkey.  Some of these projects are still ongoing and a portion of the total investment still has to be paid for.  Generally, as you browse along the largest transactions in the country, you will find out that more companies have seen the potential of investing on property sale made in Istanbul.  This is because the city is the largest in the nation and is the financial hub as well.  As soon as the properties will be developed, more employment opportunities will come.  There is no doubt that the real estate property market will flourish as well.

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Gaining a return from your investment is more than just the monetary value attached to it.  It also means deriving all the functional and aesthetical benefits linked to the property you have bought.  Of course, it should by all means fulfill your idea of retirement living.  Lower cost of living with the highest standards fits the picture best.

Top 10 ideal communities when thinking of retirement living in Turkey

As Turkey continues to go with the rules set by the European Union just so the country will be part of the association in the future, it also starts opening its doors to more foreign investment endeavors.  Properties seem to grow larger in scope in a lot of areas in the country.  It is for this reason that the top 10 retirement communities in Turkey have been coined.  Here is what the list includes:

• Bodrum.  This spot was once known as Halicarnassus.  It is a popular resort in the Aegean region and is considered as a yachting port in the country.  It is also proud of its scenic spots including the Mausoleum – a member of the Seven Wonders of the World.  It is also the home for the Museum of Underwater Archeology and the Castle of St. Peter.  All these tourist attractions in Bordum place it in the top spot for the retirement communities in Turkey.
• Kusadasi.  Forming part of the Aegan coast is Kusadasi.  It is popularly known as a resort town where people may just stay under the heat of the sun or plunge in the beaches.  It is also known as one of Turkey’s holiday resorts.  Retirees before you love staying in this place because of its promise of an excellent and relaxing environment.
• Cesme.  The sun and beach resort town of Turkey is known as Cesme.  It is flanked by visitors coming from the United Kingdom and Scandinavia.  The place is accessible through riding a minibus – known as dolmus in Turkish language.  Much more than the sandy beaches of Cesme, you will favor the place for its tea houses, restaurants and cafes and sunset views.  Retirees will surely enjoy Sundays as Cesme’s market day.
• Marmaris.  Looking for a yacht charter in Turkey?  Marmaris is the best place to be.  You will surely enjoy the holidays with a variety of activities from swimming to sailing.  The place is known for its friendly people, beautiful coastline, great food and tasty local wines.  Getting the right kind of nightlife is also offered by Marmaris to every one of you who desires for the best out of retirement living.
• Antalya.  Located at the western part of the Mediterranean region, Antalya is rich in its cultural and historical inclination.  It is popular to a lot of tourists thus placing it on one of the top spots for Europe’s most visited places.  Both tourists and retirees find a second home in Antalya.  Get a view of the magnificent Toros Mountains and blue flag beaches in this side of the country.
• Fethiye.  This tourist spot is filled with people especially during summertime.  It is best loved for the Fethiye Museum housing artifacts and other displays showing civilization of the place.  If beaches are what you are looking for in this retirement community, the Calis Beach is yours to explore.  You will also love the 12-island yacht cruise offered by the place.
• Kemer.  A tourist center located in the Mediterranean coast, Kemer proves to be one of the best retirement communities in the Turkish Riviera.  Much more than the promises of all the tourist destinations in the area, it is proud of its own natural beauty.  Retirees or not, you will surely enjoy the 300 days of summer in Kemer.
• Side.  This little town maintained its beauty through the existence of local planning regulations.  Archaeological sites are well-maintained to provide the place with its very own charming character.  Visit the Roman amphitheater for the performances you always want to watch.
• Alanya.  This is one of the well-loved resorts in Turkey thus making it more favorable for retirement living.  It is also a home for the best shopping centers in the Mediterranean region.  If Kemer boasts of 300 summer days a year, Alanya may give you more than that.  Be prepared to explore the city from dusk until dawn.
• Belek.  Although Belek has a more laidback lifestyle than the nine retirement communities listed in this page, it had undoubtedly left a mark in the hearts of frequent Turkish travelers.  It is also closely linked to the facilities of Antalya.  Golfing activities make Belek a standout.

With all these wonderful options you have, who will ever say that it is not practical to choose a retirement community in Turkey?  Check on all the fancies and real pleasures given off by these places.  Make it a point to go to trusted agents when buying your retirement home in any of these locations.

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If you are one of the foreigners looking to buy property from Turkey, there are a few things you should remember.  Your considerations should not be concentrated on the things you should do.  The list must also include matters you should avoid when buying Turkish property.

Five things foreigners should avoid when looking for a property in Turkey

Learning about what you should avoid when you buy property from Turkey is synonymous to knowing the things you should do.  Once you know the common mistakes made by foreign buyers, you will be able to fulfill the purchasing task with much convenience.  Furthermore, this will work for your safety.  Look into five of the mistakes you should avoid when it comes to buying a Turkey property:

• Buying old properties.  If you are fund of antique homes, Turkey has a lot of things to offer.  Despite this however, you may no longer be covered with the standards set by the European Union if you buy property built several decades back.  The EU had already set new rules governing building or construction of homes in Turkey.  This is the reason why you should favor new homes over older ones even if the latter promises to fulfill your aesthetical cravings.
• Seeking help from unregistered or unlicensed agents.  In your search for the best Turkey property, you will be needing help from an estate agent in the nation.  Even if you think unlicensed agents are dependable too, there is no better way than closing a transaction with a certified one.  This will work for the best of your interest.
• Neglect the duties of your lawyer.  Even if you have the capacity to understand the rules, clauses and stipulations reflected on a purchase contract, you should still seek the advice of your lawyer.  Lawyers know what each sentence in the contract means.  In fact, he has all the time to go over all the pages of the document.  Although you may have to spend some cash to hire his services, getting a lawyer will pay off big time.
• Forget about immigration rules.  Some people think that buying a property in Turkey will be a license to leave the country then go back anytime they wish to.  Well, this is a notion that you must avoid if you want to go with the rules set by the nation.  Imagine how much money you will be allotting while going back and forth from the country.  You may by all means re-enter the country but nothing is best than obtaining a license to stay for a maximum of five years in Turkey.  All you need to do is fill up the Declare of Intent form.  Submit such document to the immigration authority for approval.
• Buy a property without undergoing the required process.  You cannot just go and visit Turkey then buy property at an instant.  Imagine what you will go through if you will do that.  Buying a property in Turkey requires scrutiny and decision making.  Employ all the right techniques and go to appropriate individuals to transact with.

The rules when it comes to buying a property in Turkey are exactly the same if you decide to buy things in other countries.  Why remain troubled and stressed by committing mistakes if you are allowed to correct the errors at the earliest possible time.  Think about the things you should avoid and everything else will run smoothly for your favor.  Always go through financial concerns and legal considerations as well.

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The real reason behind why people worldwide opt to retire in Turkey is the fact that it offers a lot of options when it comes to relaxation.  Simply put, living in Turkey is like having a holiday all year round.  This is perhaps something that a regular worker missed during the many years he spent in his previous workplace.  Therefore, Turkey is a sure catch if you are one of the individuals seeking for a retirement haven.

Advantages of retiring to Turkey

Aside from relaxation, there are other reasons why you should opt to retire to Turkey.  Of course, add to that the fact that you may buy a property at an affordable cost.  Maximum return on investment may also be achieved in a few years time.  Other than that, here are the real benefits behind retiring to Turkey:

• Cost of living.  Turkey is known for offering affordably-priced homes.  With this, you are also sure to have low cost living in the country.  Despite this fact, you are sure to enjoy a higher standard of living.
• Favorable climate.  Turkey is said to possess an ideal climate for the whole year.  This especially applies to the southern part of the nation.
• People.  Inasmuch as you are eyeing to retire in a foreign land, you have to expect that you are dealing with a new set of individuals with culture and beliefs strangely far from yours.  In Turkey, you need not think of people as a hindrance to your stay.  The Turkish are very welcoming, friendly and entertaining.  This is in fact one of the reasons why a lot of people think of going there for their retirement.
• Perks.  Sometimes, a retiree’s real problem when it comes to retiring to another land is the perks to enjoy.  A concrete example is the pension fund.  You might be troubled if you may access your pension through a Turkish bank.  Well, luckily banks in Turkey give you direct access to your funds coming from abroad.
• Other advantages.  You may find it hard to learn the Turkish tongue.  The truth is that the language is easy to learn.  By doing so, you will add something into your box of knowledge.  Turkey is also known to provide the best medical services yet.  This will surely work for your health.

Disadvantages of retiring to Turkey

There might be a couple of disadvantages when you decide to spend your retirement days in Turkey.  First, you have to organize a lot of stuff to bring along with you to your transfer.  Additionally, you have to learn the legalities of acquiring a property in the land.  On top of all things, you may be hard-up when it comes to dealing with loneliness knowing that you will be away from your friends.

In spite of all these drawbacks, you will surely regain everything back through all the advantages attached to a Turkey retirement.  As soon as you get over all the disadvantages, everything else will run smoothly.  Imagine all the benefits assured by the nation once you are already there.  You will also gain new friends in the foreign land.

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Turkey is said to be one of the most ideal countries to live in for people who retired from 25 to 30 years of service in a company.  This is because the country offers some of the world’s most loved tourist destinations.  If you are looking for a home in one of Turkey’s retirement communities, make sure you are heading for the right one.

10 things to consider when buying a retirement home from Turkey

Retirement homes need not be synonymous to the real meaning of the word “retirement”.  Look at them as your partners to living your lives to the fullest.  When you are eyeing for a home in Turkey, make sure you include the following things on your list.

• Establish a basis for your decision.  Before you even decide on other factors in the buying process, you should know what you are actually looking for.  This is the foreground to acquiring the right property in Turkey.  You have to determine whether the retirement home is purely a holiday property or a residence you want to live in for the rest of your life.
• Location.  This is one of the things that should come to mind when acquiring a home from the best retirement community in Turkey.  Choices include Fethiye, Izmir, Kusadasi, Antalya, Side, Alanya and a lot more.  When looking for the best retirement spot, make sure you go for something that you will want to live in for the rest of your lives.  You may also look for a spot ideal for the holidays which you may rent out to other travelers later on.  This way, you will have the maximum return on your investment.
• Budget. Who will ever forget about looking into his budget before any acquisition?  Not because you have enough retirement funds means that you should exhaust every single penny to the retirement home investment.  Make sure you leave something behind in your savings account or in your mutual fund.  Your cost computations should also include taxes and legal fees required in Turkey.
• Information about buying houses in the country.  You should also make your own research as to where and how you will be able to get your retirement home in Turkey.  Your search will also boil down to landing on a property on the best location at the same time found within your means.
• Personal visit to the place.  You will never want to buy a home in a land that you never even know of.  Not because you have heard that Turkey offers good retirement communities means you should leave your decision to that statement.  It is still best to explore the country by yourself.  Extend this to your own surveillance of the property you are eyeing for.
• Seek the advice of an expert.  Since there are some legal issues behind acquiring properties in Turkey, make sure you have your own lawyer to help you.  In that way, you are assured that you are entering into a valid and binding transaction.  This is also your best way to gain knowledge about what should be included in the purchase contract.  Let your lawyer check if there are no liabilities linked to the property.
• Learn to negotiate.  Negotiating is synonymous to bargaining on a transaction.  It doesn’t mean haggling on the lowest terms for the property or else the seller will just give it to another party.  You must at least check if the seller is willing to meet with your terms.  Negotiating also involves imposing what should be stipulated in the contract.  Your retirement home contract should include all terms and conditions pertaining to the price and other relevant things in the transaction.
• Act as fast as you can.  This rule may sound ironic considering that you are advised to take slow but sure steps when it comes to buying your retirement home.  Acting as fast as you can means that once you have seen your dream home, then be prepared to make a deposit.  Otherwise, you may lose the property to another individual.  Have at least €3,000 in your savings account or credit card.
• Have private contracts made.  Once you have made your deposit for your retirement home, be prepared with your private contract.  The contract should specifically include the selling price and all the things pertinent to the sale.  Check the clauses included before you sign the paper.
• Registration is vital.  Once the deal is closed, you have to finalize everything.  This means you need to register the property to appropriate authorities.  This is where a lot of documents are gathered including the property title.  The latter is your evidence that you are now the property owner.

As soon as you went through these 10 things, there is no doubt you will have the best of all retirement homes in Turkey.  Do not think of the procedure as a tedious one.  This is your license to enjoy the portion of the retirement fund you have.

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In order to enjoy living in Turkey, it is best to locate some of the best places that foreigners love.  Truth is, more and more foreigners start living in Turkey each day.  The list of foreign citizens who decided to settle in the nation includes Germans, Dutch, Russian, Swedish, Japanese, English, Iranian, French and Belgians.

10 Turkish places foreigners love to live in

As foreigners, you will surely love to stay in places where tourism is said to be promoted.  Of course, the list of consideration also includes areas where other foreigners would buy properties.  Here are some great places in Turkey where foreigners opt to live in.  Each has its own story to tell.

• Antalya.  This place is located in the Mediterranean coast and is one of the popular places for tourism in Turkey.  It is often referred to as a place embracing the sun and is favored because of its luscious green landscapes and sceneries.  Foreigners buy property from this spot also because of the historical, archaeological and architectural sites spreading throughout the area.  A list includes the Yivli Minaret, Pasa Mosque, Seyh Sinan Efendi Mosque and the Clock Tower.
• Istanbul.  Who will ever fail to recognize Istanbul?  It is the most popular among all spots in Turkey.  While it is said to be the most populous spot in the country, foreigners still find it a spectacular venue to acquire a property.  Professionals love the place because it is the financial hub of the country.   Foreigners who live in Turkey love Istanbul’s tourist spots like the tea garden known as the cay bahce and historical areas such as the Byzantine Hippodrome and Sultanahmet.
• Alanya.  This is yet another beach spot in the country.  Aside from boasting of such sceneries, Alanya is famous for its fish restaurants and historical buildings.  This is the reason why foreigners are tempted to buy properties situated on this side of the country.  Alanya boasts of having its own holiday homes for frequent travelers.
• Kemer.  Beach spots and facilities, yacht ports and restaurants are some of the popular places to visit while one plans to live in Kemer.  It is also close to some of the most historical spots in the country.  It is well-loved by foreigners who would rather seat on the long sandy beaches than mingle with the crowd.  It is a peaceful getaway place for anyone who wants to forget about regular workloads.
• Belek.  Even if Belek is a relatively new part of the coast, it is considered one of the most popular places to foreigners coming to Turkey.  It forms part of the East coast of Antalya and is situated on the Mediterranean region.  It is a perfect paradise for foreigners who love nature and beaches as well as sporting activities like golf.
• Side.  This area is situated in a very small peninsula yet boasts of its own cultural inclination.  It is proud of the museums attached to its name.  It is the home for the Temple of Apollo and the Roman Amphitheater.   Foreigners who want more nightlife happenings can find it all here in this small town.  There is no doubt that foreign citizens buy properties from Side.
• Bodrum.  Another city proud of its tourist spots is Bodrum.  It is favored by foreigners because of its accessibility to other places in the nation.  Just like most parts of Turkey, foreigners love to live in Bodrum because of the captivating beach resorts flanking the area.
• Finike.  Who says that living a rural life is not what a foreigner wants when looking for a home in Turkey?  Well, Finike proves to be one of the towns promising a very peaceful life for a traveler and for a foreign investor.  Each property in the town is said to be luxurious enough to give the life that anyone wants to have.  Most properties open to one’s own private garden, balcony or terrace.  It is a sure fit in the top 10 list of places to live in Turkey.
• Fethiye.  Fethiye is another good find in the country.  Foreigners enjoy its scenic location since it is situated in its own sheltered bay behind mountains and hills in the country.  It also boasts of other spots including shopping malls and supermarkets.
• Kusadasi.  This is also a promising spot for foreigners who want to buy property from Turkey.  It is accessible to major shopping spots plus everybody will love Kusadasi’s ideal climate.

These spots are ideally the best finds when it comes to property investments in Turkey.  You should make it a point to locate some of the best homes in these towns and cities if you want to live in Turkey for good or even for the holidays.  Check on other things in store for you while you are in these areas.

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There is a direct relationship between Turkey’s home prices and that of the nation’s economy.  Simply put, when the economy is down, it is the best time to get an affordable home in the nation.  Therefore, the down economy in Turkey is your license to have a home loan from any of the top banks in the country.  Besides this advantage of getting a loan in Turkey’s down economy, there are other pros linked to the endeavor.

Advantages of getting home loan in Turkey’s down economy

Banks in Turkey would lend you around €40,000 to €280,000 for a home loan mortgage.  With this amount, you will surely find a home that is suitable for you and your family – whether you want to stay in the country for good or you want to rent the property out when you are not around.  Add to that the fact that you also have to put your own share of savings into the investment.  Home loans are usually paid within a 6-month to a 240-month period.

Despite Turkey’s down economy, a lot of people are taking chances to invest in the mortgage market.  As mentioned awhile back, the lower the economic status of the country, the cheaper the houses are.  Below are other advantages of acquiring a home loan during Turkey’s down economy.

• Guaranteed decrease in interest rates.  Alongside getting a home loan mortgage is the loan interest that goes with it.  Since you are allowed to repay the loan up to 20 years from date of issue, you will surely be burdened with the interest payment.  With a down economy, the interest attached to the home loan is at the lowest.
• Turkey opens the home loan mortgage market to everybody.  It opened up the mortgage market not only to citizens of the country but to foreign investors as well.  As long as you comply with all the requirements set for the acquisition of a Turkish property, you are sure to get your dream home situated in any of the best spots in the nation.  This is an opportunity seen even in a down economy in Turkey.  In fact, the government seems to push more efforts to market existing properties to others just to gain from the transaction.  It doesn’t matter whether property owners profit a minimal amount from the endeavor as long as there is an income gained.

Disadvantages of getting a home loan in Turkey’s down economy

The benefits of acquiring a home loan mortgage in Turkey during its down economy are said to be very visible.  However, there is still one drawback to this.  Since Turkey’s economy is unstable, it may be that it will remain down in the next few years.  Meaning, even if the economy is down now, there is no guarantee you will get the real savings you want.  If the economy remains down next year, then chances are properties will be sold at a lower price than when you acquire them now.

Because of Turkey’s economic stability, there is still a probability that it will increase in the next years to come.  When this happens, house prices will surely rise in the home loan arena.  Take this as your opportunity to gear your investment.  With gearing, the value of the property you own will appreciate and you will surely reap the profit from the process.  Your €50,000 home loan mortgage amount may be converted to a profit of €5,000 once your property appreciates by 10% next year.

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However, even if Turkey promises to be one of the ideal places in the European continent, there is no reason to just jump into the purchase or the home loan engagement.  In fact, there are some things to get rid of when contemplating on shopping for a Turkish home.  The list ensures you get a wise purchase.  Take note, you are investing a certain portion of your hard-earned money on the endeavor.  It pays for you to learn about what you should avoid in the process.

Things to avoid when home shopping in Turkey

Purchasing a new home may both be taxing and emotional.  Since it is also regarded as a part of a business transaction, you must be careful with the choices you make.  Not because you are avoiding the emotional impact of the purchase means you should enter into any of the home loans offered by various institutions.  When it comes to this business privilege, there are five negative things you should take note of:

1. Pay too much for the acquired property.  You must have spent long hours computing for the actual cost of the investment.  Or, you may have earned enough to buy a property that is worth £500,000.  While this is the case, there is no reason for you to bind yourself into the home loan contract.  Turkish homes can be bought in a much lower price than £500,000.
2. Give your dream home to another client.  Even if you should take much thought when purchasing or obtaining Turkish properties through home loans, you should not forget about your dream home.  You have saved money for the purchase or you are ready to enter into a mortgage.  With this, you should go for the home you have always wanted.  Otherwise, you might lose it to someone else.
3. Buy the home that you do not want.  When you give your dream home to another buyer, there is a greater tendency for you to acquire a wrong home.  You never want this to happen considering that you still have to pay your monthly amortizations for the property.
4. Ignorance of housing laws.  As the saying goes “Ignorance of the law excuses no one.”  This applies to all legal issues including entering into a home loan contract.  Therefore, it is best for you to inquire about the housing situation in Turkey as well as the existing mortgage regulations in the country.  This will give you a full understanding of the transactions you will be entering into.
5. Acquire a property that will not sustain natural disasters.  As part of taking advantage of Turkish properties, your home shopping should include proper scrutiny of the built houses.  If in case you are not well-versed about how this aspect of analysis happens, get help from professionals.  You may have to pay for their services but in the end, this process will all boil down to your advantage.

Summing things up, avoiding the mistakes in Turkish home shopping may be dealt with accordingly.  What you need to do is become inquisitive.  Conduct your own researches when necessary.  It will help if you check on the land title, update land surveys and seek approval from mortgage companies.  Take note of additional costs and make sure you understand the contract before you attach your signature to the document.Turkey is said to be one of the most viable options when it comes to property investment.  Owe this fact to its majestic sceneries and highly affordable homes.  It is also very easy and convenient to do home shopping in the country.  With this, a foreign or local investor may just do some passes on the shopping list and immediately acquire a property through home loan means.

However, even if Turkey promises to be one of the ideal places in the European continent, there is no reason to just jump into the purchase or the home loan engagement.  In fact, there are some things to get rid of when contemplating on shopping for a Turkish home.  The list ensures you get a wise purchase.  Take note, you are investing a certain portion of your hard-earned money on the endeavor.  It pays for you to learn about what you should avoid in the process.

Things to avoid when home shopping in Turkey

Purchasing a new home may both be taxing and emotional.  Since it is also regarded as a part of a business transaction, you must be careful with the choices you make.  Not because you are avoiding the emotional impact of the purchase means you should enter into any of the home loans offered by various institutions.  When it comes to this business privilege, there are five negative things you should take note of:

• Pay too much for the acquired property.  You must have spent long hours computing for the actual cost of the investment.  Or, you may have earned enough to buy a property that is worth £500,000.  While this is the case, there is no reason for you to bind yourself into the home loan contract.  Turkish homes can be bought in a much lower price than £500,000.
• Give your dream home to another client.  Even if you should take much thought when purchasing or obtaining Turkish properties through home loans, you should not forget about your dream home.  You have saved money for the purchase or you are ready to enter into a mortgage.  With this, you should go for the home you have always wanted.  Otherwise, you might lose it to someone else.
• Buy the home that you do not want.  When you give your dream home to another buyer, there is a greater tendency for you to acquire a wrong home.  You never want this to happen considering that you still have to pay your monthly amortizations for the property.
• Ignorance of housing laws.  As the saying goes “Ignorance of the law excuses no one.”  This applies to all legal issues including entering into a home loan contract.  Therefore, it is best for you to inquire about the housing situation in Turkey as well as the existing mortgage regulations in the country.  This will give you a full understanding of the transactions you will be entering into.
• Acquire a property that will not sustain natural disasters.  As part of taking advantage of Turkish properties, your home shopping should include proper scrutiny of the built houses.  If in case you are not well-versed about how this aspect of analysis happens, get help from professionals.  You may have to pay for their services but in the end, this process will all boil down to your advantage.

Summing things up, avoiding the mistakes in Turkish home shopping may be dealt with accordingly.  What you need to do is become inquisitive.  Conduct your own researches when necessary.  It will help if you check on the land title, update land surveys and seek approval from mortgage companies.  Take note of additional costs and make sure you understand the contract before you attach your signature to the document.

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Banks and other financial institutions competed for the top spot when it comes to home loan mortgage offerings.  These establishments were not just ready in terms of monetization of home loans.  They were also equipped with new housing projects.  In fact, the most recent survey conducted by The Banker showed 10 of the most sought after banks and institutions in the Turkish home loan market.

Top 10 home loan market players in Turkey

Looking at the list of The Banker, the biggest bank emerged to be Is Bankasi followed by Akbank and Garanti Bank.  When it comes to home loans however, the following rankings were obtained from the survey.

• Garanti Bank.  The records for 2008 showed that Garanti was able to deliver the highest in terms of banking income with a growth of 22%.  Customers with various transactions including regular bank deposits and withdrawals and mortgages went up to 1,000,000 more than in 2007.  Mortgage products for this bank started the trend in Turkey both in the cash and non-cash loan arena.
• Akbank.  This bank began its operations on January 1948 in Adana, Turkey.  Its primary purpose then was to provide finances for cotton producers living in the Cukurova Region.  Now, Istanbul is already the home for the bank’s headquarters and continues to prove to be one of Turkey’s largest banks in terms of assets and loan volume.
• Is Bankasi.  This is considered as the country’s premiere national financial institution.  As a dependable banking system, it had its own share of firsts in the whole nation.  Among others, it was the first to introduce checks in daily banking transactions and in the utilization of Automated Teller Machines.  Some of its remarkable contributions in the industry include its fair share in the home loan market.
• Yapi Kredi.  Yapi Kredi is a banking system divided into five major segments.  The list includes:  retail including SME banking; credit cards; private banking; commercial banking and corporate banking.  It boasts more of its presence in the retail banking sector which includes auto and home loan mortgage.
• Ing Bank.  This Turkish bank grew rapidly in terms of number with 365 branches completing the entire banking system.  Its popularity extended throughout the world with an offshore banking unit located in Manama, Bahrain.  Just like Yapi Kredi, Ing Bank focuses on its retail banking sector thus providing a wide array of choices for mortgages and loans.
• DenizBank.  This banking institution was founded 71 years ago in 1938.  It was primarily established to render funds for Turkey’s maritime sector.  Now, it is already in the hands of Dexia and is currently busy in marketing for depositor’s accounts as well as loan mortgage.  It attracts clients with its operational efficiency measures.
• Ziraat Bank.  The loan offerings of Ziraat Bank started in as early as 1863 when the first agricultural loan was granted to Turkish farmers.  Four years later, in 1867, an organized credit system was made by the bank.  Through time, a lot of events took place and now, the bank continues to grow and become part of the whole world.  In 1988, the GAP loan for Southeast Anatolia was founded.    Ziraat Bank continues to rise in the league of markets for home loans and other mortgage types.
• DD Mortgage.  The name itself implies that the primarily goal of this bank is to provide loans to the public.  DD was coined from the joint venture between the Dogan Group and the Deutsche Bank.  Its ranking in the Turkish home loan market arena is attributed to its creation of specialized mortgage solutions for its patrons.  Even Turkish citizens living abroad are given the chance to obtain loans from DD Mortgage.
• Fortis.  It was in 2005 when Fortis entered the market for finance in Turkey as it acquired Disbank.  This made the bank become more active in the retail and commercial banking sectors as it offers a wide array of loan mortgage products to its prospects and existing sets of clientele.  Fortis also offers asset management and merchant banking.
• HSBC. Completing the top 10 list is a world-acclaimed banking institution known as the Hong Kong Shanghai Banking Corporation.  As part of its commitment to personal financial services, it grants consumer loans.  Being part of one of the world’s largest financial networks places HSBC Turkey in one of the top spots in the country’s banking industry.

These rankings for the Turkish home loans may change throughout the years especially that there are other banks competing for the top spot.  Knowing about these banks encourages investors to make their next purchase or home loan mortgage via these venues.  The ranking also reflects the reputation built by each bank on a country and worldwide scale.

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Developments of various properties in the place are considered budget-friendly. Plus, each is equipped with modern day facilities. This being so, investors both from within and outside the nation are taking their chances on investing on home loan. But, is it true that the Turkish home loan market was put aside because there were no concrete mortgage regulations in the place?

The real scenario in Turkish home loan market

The Turkish mortgage regulation was supposed to provide tax incentives to mortgagors. These tax incentives are now utilized in order to develop the primary and secondary mortgage markets in the country. With this opportunity, home loan really increased through time. But economists argue that instead of selling the properties at a lower cost, why not have them sold at a relatively increasing price.

Mortgage regulations are not to be taken as an opportunity to raise the fair market value of Turkish properties offered in the loan mortgage market. If this happens, prospects of the said market – especially foreign investors – may back out from the project. This may even be a cause of another problem when selling mortgage bonds to countries like the USA.

How did Turkey solve the home loan problem coinciding with mortgage regulations?

Turkey must be very thankful with the presence of big construction companies who helped develop new projects just after the mortgage regulations have been implemented. These projects led to the decrease of home prices and are now available for loan. Effortlessly, the government as well as project proponents are able to sell the homes to various investors.

Of course, the country continued to flourish in terms of tourism. In fact, Kusadasi and Fethiye on the west continue to be recognized worldwide because of its well-known resorts. Smaller beach towns like the Aegean and Mediterranean Region are not left lagging behind. For anyone who continues to search for mortgaged property in Turkey, Antalya and Side at the southern part are popular choices.

Mortgage regulations increase the value of the Turkish home loan market

Despite the presence of mortgage regulations in Turkey, there is no reason for an investor to be afraid about investing on a property through loan mortgage. In fact, as the market progresses, investors are given the chance to use the gearing technique.

Gearing is a method that can help anybody who looks for higher returns on investment. Simply put, if you eye to purchase a property worth £200,000 with 50% taken from home loan, there is a chance for you to gain more once the property appreciates in by 10% in a year’s time. Doing the math, you may gain as much as £20,000 or 20% out of your £100,000 initial investment.

What makes the Turkish home loan market boom?

Aside from tourism and affordability of properties on Turkish grounds, there are yet other reasons for foreign investors who want to enter into the loan market scenario. Turkey is accessible most especially to the United Kingdom with only four to five hours of travel using Turkish airports. Additionally, every person can acquire a home not only in areas situated near the beach but even in the rural areas.

Rural properties in Turkey are eyed by investors because of the cheaper prices attached to them. With this, it really does not matter where you buy a Turkish property. As long as you enjoy the country at its best, your home loan will be paid for not only in monetary terms but in aesthetical pleasures.

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