Welcome to today’s email of overseas property news and views…
Istanbul based property firm Universal 21 makes an interesting point this week when it suggests that the current political turmoil in Turkey could offer a buying opportunity for property investors. Over to Adil Yaman at Universal 21, ‘As we saw in early 2013, unrest and political upheaval can result in a loss of confidence amongst overseas investors in the short term, such as the protests which took place in Gezi Park in early 2013.’
‘Naturally, some investors who remember the political problems experienced in Turkey in the past fear a return to the bad old days. This actually creates an opportunity for investors who think long term and believe that the progress made by Turkey is sustainable and on the right track.’ Food for thought; if you are buying in, we can get a one-on-one currency review, your currency to the lira, on request from Peter Lavelle at Pure FX.
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We are seeing growing interest in ‘down under’ markets and are extending coverage over at Lifestyle Property Alerts. One or two IPA investors there tell us they are selling up! According to agents Barfoot & Thompson, there is currently a small window of opportunity in Auckland in New Zealand. ‘Seasonal trends which traditionally see higher value properties traded have not been offset by recent Reserve Bank changes and nor would they given the next three to four months of high summer season. With listings being so restricted and buyer demand so high, it suggests that as we enter the New Year, the Auckland real estate market will experience a strong first quarter.’ In-depth reports on key markets ‘down under’ will be available throughout this quarter; let us know if you are investing there.
We’ve been offered a second database of properties for sale in Spain which, with the first one of 18,000, gives us a terrific spread of offers all across the country. If you’d like to know more, please email your buying criteria in as much detail as possible. Meantime, and it sounds like a tongue-twister to me too, Chris Mercer of Murcia agents Mercers, offers an update on Murcia. ‘Property prices have held pretty steady for several months now. I do not think that prices in our part of Murcia will slide further, but neither do I think that they will increase in the first three quarters of 2014. Since the peak, prices have dropped 40 to 55 per cent and we are now in a situation of everyday low prices.’
‘Coming off the back of a very strong 2013, I predict a further increase in sales volume for Mercers in 2014 as buyer confidence continues to grow. If bank lending finally improves, then the market will accelerate across the board but, again, I do not think that is likely for the first three quarters of 2014.’
‘It is reassuring to see the British contingent participating so heavily in Murcia and I expect them to carry on leading the charge this year. And, this time, I will stick my neck out and predict at least a 30 per cent rise in sales for 2014 over 2013. A lot depends on the Paramount Theme Park, which is now in the first stages of construction and on schedule for a 2016 opening. But, even without this tourist attraction, the general climate and appetite for foreign property buying is on the up.’
All for now, but email back if you’d like to receive the latest sterling-euro-US dollar currencies review that’s just arrived from Pure FX.