Turkish Property Sales Rise By 24% In Q3 2009

Even though the real estate sector continues to feel the negative after effects of the global financial crisis and is expected to regain pre-crisis levels by as late as 2012, sales of property in Turkey rose by 24% in the first nine months of the year compared to the same period last year thanks to several incentives, Today’s Zaman reports, quoting Real Estate Investing Partners Association (GYODER) President Turgay Tanes as saying.

Delivering a speech at a press conference called to present the association’s recently released report on the sector, Tanes said that real estate in Turkey had been one of the sectors that was anticipated to have been hit most severely by the global financial crisis.

However, he noted, the sector saw a 24% rise in housing sales figures in the January -September period of 2009 over the same period of 2008.

The fact that demand for property in Turkey, both domestically and internationally, remains strong is partly fuelled by the burgeoning tourist industry and strong overseas investment in Turkey maintaining demand, consequently this will have helped to deflect the worst impact of the crisis and continues to underpin the market.

These figures are certainly bourn out by Cumberland Properties own experiences of sales of property in Bodrum for the period.

To a great extent the Bodrum peninsular remains immune from the negative effects of the crisis due to its preferred location. Unequivocally the favoured holiday destination both domestically and internationally the peninsular benefits from its designation as a protected area; the Turkish Ministry of Forestry and Agriculture has issued a White Paper that lays out specific guidelines limiting the density of construction in order to retain the authenticity of the Aegean and Mediterranean coastlines.

Buildings may only be 2 storeys high and must be whitewashed, maintaining the region’s authentic and picturesque identity. Furthermore, only 20% of the land in Bodrum can be built on, thus ensuring that its diverse range of wildlife together with its unique natural beauty will be protected for generations to come.

Cumberland Properties can further endorse these findings having already sold a number of properties at Woodland Regency in the first week of January 2010 and are currently experiencing a significant increase, over the same period last year, in enquiries for both property for sale in Bodrum and rentals in Bodrum, having already secured a number of reservations for the ever popular Seaview Regency Prestige

For further information on Yali Seaside Residence contact: Volkan

Source: ANSAmed.

Woodland Regency From £72,000

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Woodland Regency is set on 5.4 acres of land (21,800m2) consisting of 20 two storey buildings for a total of 62 units of exquisitely finished 1 and 2 bedroom apartments and 3 bedroom, 2 bathroom semi-detached villas. Due for completion in June 2009

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