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Kusadasi, Kusadasi
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Special Promotion - 20% - 40% lower than the
built value
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Development:
Location: Status: Number of Plots: Completion: Discount: Price Range: Exchange Deposit: Reservation Fee: Kusadasi
Kusadasi Reserved 18 June 2006 From £75,000 - £118,000 25% Features:
* 2 bathrooms each * Outdoor pool * Spa * Tennis courts * Landscape Gardens * Decorated * Air conditioning * 4 bedrooms |
Development Summary
Local Area
Facts:
• Flying time from UK: 3.5 to 4.5 hrs
• GDP: $490 billion (UK $1,528 trillion)
• GDP per capita: $7,300 (UK $25,500)
• January temperature: 5C-12C (Izmir)
• July temperature: 24C-40C (Izmir)
• Tourists per year: 13 million
• Population: 68 million (UK 60 million)
• UK buyers per year: 5,000 (estimated)
• Size: 780,580 square km (UK 224,820)
• Daily flights from UK Common Routes To Buying:
• Estate Agent in Turkey
• Internet
• Visit and look around
• Magazines
• Exhibitions
• Referrals/friends
• Off-plan
Estate Agents In Turkey:
• “New” profession – only really established since 1999
• May have no experience of dealing with UK buyers and struggle with the language
• Local agents charge 6% – foreign agents charge more
• Some neither honest or professional – “the Missing £20,000”
• Many buy shells, add finish price, offer at inflated price (i.e. not really agents)
• Everyone’s an agent!
Go & Look Around Yourself:
• Turkey is a big place
• They don’t have ‘For Sale’ signs
• Price for UK buyers is usually doubled by sellers against the price to a Turk
• The drivers are nutty!
• The roads are under major development
• You can get to know the place (especially if the investment is also to be a holiday home).
Internet:
• Most of the properties on websites are sold:
- Prices often invalid
- Little information of context/location
- Many sell within 4 weeks
• Seller is ‘invisible’:
- Usually a builder
- Or the Estate Agent.
• Helpful for benchmarking areas and properties.
Kusadasi
• On the Aegean Sea (Turquoise Coast)
• 1 hour from Izmir Airport
• 1.5 hours from Bodrum Airport
• Major harbour (Med Cruise ships) and yachting port
• 5 beaches, National Park, Ephesus, 2 Water Parks, well established resort centre.
Turkey As A Place To Invest
Other Considerations:
• Ranked top of ‘Top 5’ places to invest during 2005*
• Accession talks now commenced for entry into Europe. Will that bring Easyjet/ Ryanair/etc?
• Mortgage culture kicking in this year in Turkey
• Cheap cost of living - but getting less so
- Is it the new Spain?
- 40%+ per annum growth rates being estimated
• Tourist potential (nice people)
• Developing legal & administrative systems
* A Place in the Sun – Jan/Feb 2005
What are the Alternatives?
• Invest in Property somewhere else
• Do nothing
• Put funds in the bank at minimal interest
• Stocks and Shares
• Start/Run a business/franchise
• Stick with the Pension scheme and pray for a miracle!
Buying Your Property:
• From Cash Savings;
- Straight-forward
• Mortgage;
- Turkish mortgages not presently available
- On your UK property (cheap se-up costs)
• Price for UK buyers is usually doubled by sellers against the price to a Turk
• The drivers are nutty!
• The roads are under major development
• You can get to know the place (especially if the investment is also to be a holiday home).
Why Is Ownerhsip So Important?
• Taxes
- Income tax & inheritance tax
• Expensive to change it if you get it wrong
- reorganisation is treated as a gift tax + legal expenses
• Ways around it
- Purchase as a ‘nominee’ so you can later place the ownership where it
best belongs
Who Should Own The Property?
• You?
• You and your spouse/partner/friends?
- effect
• You, your partner and your adult children?
• Your children?
- life interests
• A limited company?
- Local?
- UK?
- Off-shore?
• A Trust?
• You… as nominee!
Legal Charges (example):
• Minimum Service
- ½ % of the price
- minimum £750
• Standard Service
- 1% of the price
- minimum £1,500
• PLUS the payments that have to be made on your behalf
- taxes
- bank charges
- surveyors fees etc
• Standard service included in the total already mentioned.
Other Considerations
:• Capital Growth and Income:
- Sit on it?
- Use it?
- Rent it (long term)?
- Rent it (holiday lets)?
Other Considerations:
• UK Rules apply to UK nationals
• Local Turkish protected heirs rules do not apply
• Therefore, you can leave your property as you please.
• Flying time from UK: 3.5 to 4.5 hrs
• GDP: $490 billion (UK $1,528 trillion)
• GDP per capita: $7,300 (UK $25,500)
• January temperature: 5C-12C (Izmir)
• July temperature: 24C-40C (Izmir)
• Tourists per year: 13 million
• Population: 68 million (UK 60 million)
• UK buyers per year: 5,000 (estimated)
• Size: 780,580 square km (UK 224,820)
• Daily flights from UK Common Routes To Buying:
• Estate Agent in Turkey
• Internet
• Visit and look around
• Magazines
• Exhibitions
• Referrals/friends
• Off-plan
Estate Agents In Turkey:
• “New” profession – only really established since 1999
• May have no experience of dealing with UK buyers and struggle with the language
• Local agents charge 6% – foreign agents charge more
• Some neither honest or professional – “the Missing £20,000”
• Many buy shells, add finish price, offer at inflated price (i.e. not really agents)
• Everyone’s an agent!
Go & Look Around Yourself:
• Turkey is a big place
• They don’t have ‘For Sale’ signs
• Price for UK buyers is usually doubled by sellers against the price to a Turk
• The drivers are nutty!
• The roads are under major development
• You can get to know the place (especially if the investment is also to be a holiday home).
Internet:
• Most of the properties on websites are sold:
- Prices often invalid
- Little information of context/location
- Many sell within 4 weeks
• Seller is ‘invisible’:
- Usually a builder
- Or the Estate Agent.
• Helpful for benchmarking areas and properties.
Kusadasi
• On the Aegean Sea (Turquoise Coast)
• 1 hour from Izmir Airport
• 1.5 hours from Bodrum Airport
• Major harbour (Med Cruise ships) and yachting port
• 5 beaches, National Park, Ephesus, 2 Water Parks, well established resort centre.
Turkey As A Place To Invest
Other Considerations:
• Ranked top of ‘Top 5’ places to invest during 2005*
• Accession talks now commenced for entry into Europe. Will that bring Easyjet/ Ryanair/etc?
• Mortgage culture kicking in this year in Turkey
• Cheap cost of living - but getting less so
- Is it the new Spain?
- 40%+ per annum growth rates being estimated
• Tourist potential (nice people)
• Developing legal & administrative systems
* A Place in the Sun – Jan/Feb 2005
What are the Alternatives?
• Invest in Property somewhere else
• Do nothing
• Put funds in the bank at minimal interest
• Stocks and Shares
• Start/Run a business/franchise
• Stick with the Pension scheme and pray for a miracle!
Buying Your Property:
• From Cash Savings;
- Straight-forward
• Mortgage;
- Turkish mortgages not presently available
- On your UK property (cheap se-up costs)
• Price for UK buyers is usually doubled by sellers against the price to a Turk
• The drivers are nutty!
• The roads are under major development
• You can get to know the place (especially if the investment is also to be a holiday home).
Why Is Ownerhsip So Important?
• Taxes
- Income tax & inheritance tax
• Expensive to change it if you get it wrong
- reorganisation is treated as a gift tax + legal expenses
• Ways around it
- Purchase as a ‘nominee’ so you can later place the ownership where it
best belongs
Who Should Own The Property?
• You?
• You and your spouse/partner/friends?
- effect
• You, your partner and your adult children?
• Your children?
- life interests
• A limited company?
- Local?
- UK?
- Off-shore?
• A Trust?
• You… as nominee!
Legal Charges (example):
• Minimum Service
- ½ % of the price
- minimum £750
• Standard Service
- 1% of the price
- minimum £1,500
• PLUS the payments that have to be made on your behalf
- taxes
- bank charges
- surveyors fees etc
• Standard service included in the total already mentioned.
Other Considerations
:• Capital Growth and Income:
- Sit on it?
- Use it?
- Rent it (long term)?
- Rent it (holiday lets)?
Other Considerations:
• UK Rules apply to UK nationals
• Local Turkish protected heirs rules do not apply
• Therefore, you can leave your property as you please.
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