Turkey, I love the place and the people

While Turkey has been in the news for some months, with the prospect of further economic growth, and a strong property market, it seems that a lot of the property hot spots may be fuelled by overseas buying - with UK investors highly visible. The thread makes some good points about trying to find local representatives, but not always going for the first that you find.  It also opens up the possibility of buying direct from construction companies, which although cheaper than buying through agents, also carries extra risks.  Further integration into the EU seems to be the focus of many investors minds, something which has been well received.

There seems to be a great difference of opinion as to whether Turkey really is a good place to invest.  Interestingly some members of the forum seem to be suggesting that the economic growth is perhaps not as wide spread as you would think.  There is also some debate as to whether economic growth has greatly influenced the wealth of Turkish nationals, although it would seem unlikely that the economy can rise so much without locals benefiting.  Turkey has always been an area which atracts many differing views, but it really is hard to ignore the substantial economic growth of late, and the forecast for further improvement in the short term. 

Dubai, News Paper Article Links Updated

Started by the moderator in Dubai, this is a fairly unique post on the forum, offering a vast array of links to recent articles covering Dubai, the property market and the potential for the future.  The opinions are obviously different, depending upon which article you are reading but the information is both clear and appears well researched.  Some of the interesting articles include :-

A link to the Gulf News (http://gulfnews.com/home/) which offers an overall view of the gulf area, prospects and up to date news.  It is interesting to balance the views and opinions in this online newspaper, compared to those of the Western media, with the “truth” probably somewhere in between.

Dubai's $300B Property Boom May Slow On Power Demand (http://www.zawya.com/printstory.cfm?storyid=ZW20070731000122&l=095344070731)

Interestingly this subject was highlighted in one of our earlier bulletins, where there were problems with a sewage plant effecting the local property boom, and concerns that the country was growing too quickly.  Its seems that the such heralded infra structure of the area may be struggling to keep pace with Dubai property development - something which needs to be addressed very soon.

Dubai moves to calm soaring rental prices (http://archive.gulfnews.com/articles/07/08/22/10148334.html)

In line with the current property boom in the area, it is very interesting to see that the authorities are acting to try and curb the vicious increase in rental prices.  If prices continue to rise unchecked this will have a major impact upon the property market, and could set the sector up for a boom and bust scenario.

Theme parks to be big attraction (http://archive.gulfnews.com/business/Real_Estate_Property/10144938.html)

For any property market to be viable going forward there needs to be interest to keep visitors in the area.  The Gulf News report that the likes of US film studios Universal and Paramount Pictures have been targeted by the government as the next phase in attracting more tourists.  They both operate a number of theme parks across the world, which have proved great attractions to tourists and locals alike.  The government seem to be concentrating on bringing in more and more tourists, with some ambitious figures for the next 10 years.

Residents sore over raffle system for flat leasing (http://archive.gulfnews.com/indepth/costofliving/Rent_x_Property/10108666.html)

In what can only be a reflection of the massive demand in the area, the authorities in Abu Dhabi have introduced a raffle system for residents wishing to apply for flat leases.  The system has been much criticised in the press although it has attracted thousands of entrants, desperate for their own property lease.  The authorities will need to address the issue as soon as possible, as the locals are becoming more vocal in their opposition to the system.

Thread : http://www.totallyproperty.com/dubai-property/3614-news-paper-articles.html - This thread has lots of links to newspaper articles – can you please summarise a few of them. (I will count this as 2 pieces of 200 words each as there is quite a lot)

Gremany - New here - first time buyers - advice needed

Started by a potential first time buyer of property overseas, this thread offers some very useful advice - not just about Germany, but the amount of research required when buying overseas.  The member who started the thread has a very clear goal about their aims, which is good, and quite correctly are seeking opinions about Germany, and Berlin in particular.  Help has been forthcoming, and while the views expressed do vary, this is what makes a market, and offers first time buyers an insight into what they can expect, depending upon who they talk to.  Not just a thread about Germany, and interesting insight into the basic information required for investing overseas.

Even though East and West Germany were brought back together some time ago, the subject of the old divide is still very much valid.  There still appear to be very different economic performances in the East and West, and the cultures do not yet seem to have merged.  As mentioned in a number of other threads about the area, Germany has a number of hot spots, and also areas which have yet to be touched by property developers.  Berlin has been mentioned as a possible area of investment, but one of the posts indicates a large excess of property in the area, which does not bode well for asset growth in the short to medium term.  An interesting post, indicating that Germany is still very much a divided nation.

General Overview of Costa Rica Property and Investments

As far as information and detail goes, this has to be one of the best posts seen for some time.  If you are looking to invest in Costa Rica, or you are even looking for something a little different, this post has it all.  The country often gets stigmatised by the difficulties of the surrounding countries and it was interesting to find that Costa Rica does not even have its own army.  Taxes seem to be very reasonable, and there are also various areas in the country for those looking at varying degrees of investment risk / reward.  An interesting post, which has obviously been well researched.

While to those who may not have researched the area, the reputation of Costa Rica can often be tarnished by those of surrounding countries, where economic woes and military action have been common place in the past.  It was very interesting to see that the country has no military force of its own, and the atmosphere and culture seems to be very relaxed.  However, there is a great need to improve the infra structure - something which may well hold back the more cautious investor - although this does seem to be in hand.  Of the 9 zones of the country covered in the post, it seems that there is something for every type of investor - definitely an area to put on your watch list.