Moscow International Property Show – post show roundup

Economists & writers will long argue about the causes & consequences of the economic crisis, but a real estate business has no such luxury as time for reflection.

An increasing number of events dedicated to the elite segment of real estate are proving the fact – the crisis has been overcome & a new era has been ushered in.

Positive changes in the market have already activated its most reliable sector – luxury property. Cumberland Properties participated in the XV International Property Show in Moscow, which is closing the season of presentations in real estate this year.

Keeping with tradition aiGroup invited exhibitors to the shopping centre “Tishinka” in the centre of the Russian capital, where 184 companies from 40 countries brought fresh designs for the demanding Russian client. Around 8,000 visitors, among which friends & partners of Cumberland Properties, were asking questions of real estate companies’ representatives & choosing the most suitable offers during the two show days.

As president of aiGroup Kim Waddoup remarked, “there is yet no better tool for investment than property, especially an overseas property”.
This year has significantly expanded the selection of geography. Five to six years ago Russians were buying real estate mainly in Europe – in Spain, France & the UK. Today there is hardly an island left where footprints of a Russian buyer won’t be found. Distances do not confuse Russians. However, their neighbours, Bulgaria, Finland, Montenegro & Turkey remain the favourites & are constantly strengthening their positions.

Surprisingly the economic crisis has had a beneficial impact on the overseas segment of real estate. In the context of inflation, the need to invest, or simply a desire to secure financial assets, it has prompted many Russians to refer to such a reliable instrument as property ownership abroad.

This was evidenced by a significant number of interested visitors, investors & potential buyers at the Moscow International Property Show this year.
Russians & representatives of other CIS countries are not only aware of what it is to invest in real estate, they also believe this sector to be the most profitable to invest in.

That’s why Cumberland Properties who have long specialised in the design, construction & provision of exquisite interiors to their exclusive properties in Turkey, decided to offer the market a few new projects at the Moscow International Property Show where Cumberland’s Woodland Regency development was the most admired of all.

While the name of Cumberland is becoming familiar to the sophisticated ear of the discerning Russian buyer our team continues to work on the next set of fabulous ideas.

Turkish Government And Local Municipalities Limit Density Of Construction

Turkey is learning from the mistakes of Spain by guaranteeing that its immaculate coastline remains unspoilt.

This is undeniably a crucial step on the way to Turkey becoming a principal destination for overseas buyers.

The Turkish Government has certainly decided that the Spanish construction approach is not their chosen method of development.

The measures that they have taken in restricting and regulating coastal construction will give Turkey a head start in the global market for property investors and holiday-home buyers.

Unlike Spain’s Costa del Sol, obstructed by towering architecture, the Bodrum Peninsula in Southwest Turkey is a protected area; buildings can only be two storeys high and must be whitewashed, giving the region an authentic and picturesque identity. Furthermore, only 20% of the land in Bodrum can be built on, thus ensuring that its exquisite range of wildlife and natural beauty will be protected for generations to come.

Other advantages of the area include the availability of affordable property, advances in tourism, a low cost of living and quality healthcare.

However, what really sets Turkey apart is the security of investment. The Spanish Government permitted the construction of resorts too close to the beach or on land that had not been acquired by the seller. The corruption involved provoked international outrage as people had entrusted their lifetime savings, only to find that some developments had been illegitimately constructed and were under serious threat.

Turkey is often compared to Spain more than 20 years ago; the coastline is intact and the beaches uncontaminated. Tourism is increasing yet building is restricted enough to enable the growth of coastal resorts without damaging the country’s natural beauty.

A White Paper has been issued by the Turkish Ministry of Forestry and Agriculture that sets out guidelines that intend to limit the density of construction and retain the authenticity of major tourist areas covering the Aegean and Mediterranean coastlines.

Cumberland Properties has been nationally recognised as a green company that operates in the Bodrum area. They own three developments on the Bodrum Peninsula, all of which are excellently located and proud to maintain the area’s nature and wildlife. The unique Woodland Regency development is set in the heart of a tranquil pine forest and the development was constructed around the trees; not a single one was damaged in the process. The exceptionally built villas and apartments are in extremely high demand. The development boasts two large, communal swimming pools, a golf putting area and outdoor playground, an exclusive spa and fitness area and 24 hour security.

Redesign For Notorious Torba Junction Bodrum

A junction named after a famous Turkish singer who died in a traffic accident at the same location three years ago will be reconstructed to prevent future accidents. Torba junction, located approximately 5 kilometres from Bodrum town centre, is now named Barış junction, after Barış Akarsu, who died there on June 29, 2007. In the last 3 years, 10 people have died there & 38 have been injured in traffic accidents.

“The construction of the new project prepared by the municipality will start tomorrow,” Bodrum Mayor told reporters at the municipal building.

“The project includes two underground tunnels for cars travelling to Torba, Gündoğan, Yalıkavak & Göltürkbükü. The project was already approved by local state authorities,” he said.

The goal is to create a project that will prevent traffic accidents involving both tourists & locals. “The project will be finished at the end of May,” he said. “I believe the reconstruction will put an end to traffic accidents at the junction.”

For more information visit: http://www.hurriyetdailynews.com

5,000 Tons Of Gold “Under The Mattress”

Osman Sarac of the Istanbul Gold Exchange, or IGE, has said, in response to questions on the rise of gold prices, Turkish people keep roughly 5,000 tons of gold worth 131,3 billion euros “under the mattress.”

Responding to questions on Turkeys under-the-mattress gold stock, Sarac said although gold’s monetary value disappeared following the foundation of the Republic, people have kept their habit of stashing gold.

The global gold stock is predicted to hit 163,000 tons in the future, Sarac said, adding that Turkeys privately kept gold stock constitutes 3% of the world’s total. Turkeys “under the mattress” gold stock forms a potential supply resource, Sarac said.

People holding gold assess their gold accumulation in accordance with their personal needs and can put the stocks into the market, he said.

In proportion to the country’s population, the predicted amount is calculated at around 70 grams per capita.

Source: ANSAmed

Turkey voted top country

Turkey has been chosen by Condé Nast Traveller readers as their favourite country in the destination category at the Condé Nast Traveller 12th Annual Readers’ Travel Awards for the first time.

 

Turkey’s popularity also ensures a spot in prestigious The World’s Top 100 list too where it was voted number 2 overall.

 

Istanbul, European Capital of Culture 2010 also scored highly; Istanbul was voted in the top 10 in the Overseas Cities category (5th place), with top marks for people / hospitality.

 

The city is also home to some of the readers’ favourite hotels as the Ciragan Palace Kempinski was voted in 6th place and The Four Seasons Hotel Istanbul at Sultanahmet, 13th place in the Category of Overseas Leisure Hotels.  The Ritz Carlton Istanbul also secured 8th spot in the Overseas Business Hotels category.

 

Director of the Turkish Culture and Tourism Office UK Irfan Onal expressed his delight at winning the award: “We are thrilled that Turkey has won this prestigious award, which is even more meaningful given that it is chosen by the readers themselves.  This is the highlight in what has been a very successful year as the Turkish Culture and Tourism Office UK.

Indeed, visitor numbers from the UK continue their spectacular rise, with year-on-year figures up 15.5% for the first 7 months of this year.”

 

Turkish Ambassador H.E Mr. Unal Cevikoz received the country award. Also attending the award was the Ambassador’s wife Mrs. Emel Cevikoz, Director of the Turkish Culture and Tourism Office, Mr. Irfan Onal and Deputy Director, Dr. Aysegul Gurgezoglu.

 

 

Source: www.ftnnews.com

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