Turkey attracting low to mid budget buyers
The Turkish property market is benefiting from a resurgence of buyers in the last couple of months, according to Aydin Cakir...
Turkey based real estate agent New Home in Turkey has claims that while lifestyle buyers with slightly more to spend had kept much of the market alive in 2009, it is the resurgence among the low to mid budget sector that is driving the market in 2010...
Aydin Cakir, the firm's director said: "The Turkish property market, well the holiday home and foreign investor segments were not as badly affected as many around the world last year, because the middle of our price range was perfect for the mid-range lifestyle buyers who remained active during the crunch, and we benefited from the strong euro increasing the perception of high value for money on property in Turkey.
"None the less, the Turkish market was always very much geared towards the lower budget buyer (obviously with some regions being exceptions to this), with low property prices and low cost of living making it a favourite with this buyer group during the boom.
We saw a return of these buyers towards the end of 2009 and into the early part of this year, but it was fizzled out by the end of the stimulus, the EU debt crisis, the UK coalition government and other factors that dented confidence. Now there seems to be a sense that it is not going to be as bad as we thought, and buyers are returning."
Reports from New Home in Turkey and other sources have also highlighted that Turkey is benefiting from the severe lack of any competition in the low to mid-range markets. With Greece, Italy, Spain and Portugal all tangled in the debt quagmire, the fiscal stability and rapid economic growth of Turkey are making it a favourite for 2010 and 2011.
According to the firm, the traditional favourites are all back up there with Antalya, Side and Alanya property all reigning supreme.
Greek & Turkish Cypriot Leaders in Property Plea
UN Secretary-General Ban Ki-moon has encouraged Greek Cypriot and Turkish Cypriot leaders to "redouble their efforts" to find agreement on the key issue of property...
The property ownership and repatriation question is one of the key sticking points in the United Nations-backed negotiations aimed at reunifying the island of Cyprus.
In a meeting with Dervis Eroglu, the Turkish Cypriot leader, on the margins of the annual general debate of the General Assembly, Mr. Ban discussed the current status of the negotiations.
The talks began in 2008 after the then-leaders of the two communities committed themselves to working towards a bi-communal, bi-zonal federation with political equality, as defined by relevant Security Council resolutions.
The property aspect of the talks tries to resolve numerous complex claims between the two sides on property seized decades ago. Mr. Ban today voiced his appreciation of the commitment of Mr. Eroglu and Greek Cypriot leader Demetris Christofias to work towards a mutually acceptable settlement of the Cyprus problem. He also commended the two men for their constructive approach to the property issue, encouraging them to redouble their efforts to find convergences on the issue, according to information released by a spokesperson for Mr. Ban.
A peacekeeping mission known as UNFICYP has been in place on Cyprus since 1964 since an outbreak of inter-communal violence that year.
Source: United Nation