Advice wanted on overseas investment

[cybermouse]

Criterias for an investment at the Lycia coast Turkey (Dalaman area)

- Central destination airport: Dalaman Airport

- To reach inbetween 3 - 4 hours with direct flight

- Only 15 min. transfer time from Dalaman Airport to Sarigerme, Dalaman, Ortaca

- First Class Tourism area since 2006

- Mediterranean ( subtropical ) climate and flora

- health area with natural sulphur and mud bath

- 29 km Dalaman Stream

- 22 859 ha planning area

- 7 sub-regions on planning land

- 8789 ha tourism investment area

- 70 000 bed capacity will be formed

- New golf course developments in Sarigerme and a second one is planned in Akkaya ( inbetween Ortaca`s and Dalaman`s mountains)

- high quality tourism and property owners

- new planned yacht marina in Dalaman

- new planned big harbour for cruises and ferryboats to Greece in Dalaman

- Only 15 min. to Port Göcek, a natural yacht marina with VIP guests all over the world

(for example the Royal family, Sting, Jack Nickolson, Cher, Madonna, Demi Moore)

- Second biggest dam of Turkey is finished and will be in use by 2010 (no water problems in the area)

- Exellent Infrastructure: for example countless buslines in every direction all over Turkey, private schools, english speaking doctors, dentists and hospitals in Dalaman and Ortaca ( also new build Letoon Hospital with international translator service in Fethiye 50 km), various companies (also international) , all legal offices you need in Dalaman and Ortaca, foreign police offices, international food in big supermarkets, ferryboats to Greece (Rhodes) from Fethiye at present.....

At present we invest together with a couple of USA (he is structual engeneer and constructor) in a property development in Sarigerme , 12 km from Dalaman airport. Sarigerme beach is one of the world´s top ten!!

for more info please contact me: marinabuetuen@lykia-dreamhouse.com

[Magellan]

AustralianInvestor, here is an article I found when doing some reseach on Morocco's political situation last year. I'm not certain of the source, but I think it's pretty accurate. The elections are due in September by the way.

Oct. 2006
Had elections been held last year 47 percent of Moroccans would have voted for the Justice and Development Party (PJD), the country’s only legal Islamist political movement. This year, just over 45 percent would vote in their favor. The crucial question, however, is how Moroccans will actually vote next year when legislative elections are held for the first time since 2002.
An idea as to what the answer might be has been provided by an opinion poll conducted at the beginning of the year and recently leaked to the press. The survey of 1,500 Moroccans by LMS-CSA Marketing and Sondages, a consultancy linked to the US Republican Party, shows that if the Moroccan elections next year are free and fair the Islamists will win hands down.
By taking just under half the vote, the PJD would easily defeat the governing Socialists, who would win 16.41 percent, and the historical nationalist Istiqlal party, which would take just 10.76 percent of ballots, according to the poll findings.
Though the poll has merely confirmed pre-existing suspicions that the Islamists are on track to take power next year if nothing is done to stop them, it has added new fuel to a debate that is alarming traditional politicians and the North African kingdom’s business elite. So much so, in fact, that Aboubakr Jamai, the director of the Le Journal weekly, warned recently that there is a risk of “other parties coming together to form a single block, or, worse still, that they will look the other way if the regime (of King Mohammed VI) decides to rig the elections.”
That is what happened in 2002, at least in the view of Jamaa Moatssim, who was at that time the Islamist party’s campaign chief. In an article in the At Tajdid newspaper, which is closely connected to the PJD, he alleged that the list of women candidates from the PJD had been the most voted nationwide but ultimately ended up obtaining less seats than their rivals. And, he said, the injustices did not end there.
In the last elections, the Interior Ministry had prevented the PJD from running in 45 percent of constituencies, severely crippling their chances of winning the election. They nonetheless came in third, behind the Socialists and Istiqlal, and in the areas where they were permitted to run they often took by far the largest number of votes.
There are signs that a repeat of the irregularities that surrounded the 2002 elections could be in store next year. Morocco recently held a partial election to the Senate in which the PJD did not win a single seat. “The Interior Ministry pressured us to prevent us from presenting candidates in all constituencies,” the PJD’s leader, Saad el Othmani, declared.


An Islamist victory is probably less of a concern than a rigged election - remember Algeria in 1992?

[Stuart D]

I have recently reserved a unit on a development in Calabria, southern Italy having first heard of it in a Sunday Times article back in January.

Having considered Bulgaria and Turkey, I decided that my money was better off in an established EU country. Fortunately enough Calabria is an emerging market within Italy and prices are a lot lower when compared to Italian cities, certainly Umbria and Tuscanny. A 100% mortgage is available and the current rates are only 3.86%

The EU and the Italian government are investing millions, if not billions into regeneration of the area. It is very unspoilt, similar to the Northern Costa Blanca as I remember it 25 years ago. Planning is very strict in the region and hopefully it will remain unspoilt.

Ryanair has recently started flying into the area which means flights are cheap, and there are talks of other budget airlines coming in soon. From an investment point of view, this is great.

If you are interested have a look at a company called First Step Abroad - they offered me a free inspection trip, the lady I dealt with was very helpful and I was able to buy a stunning beachfront penthouse apartment with sea views for less than £100k. At the end of the day, anything with a sea view, in my opinion, is a sound investment and you cannot go wrong for that kind of money.

Stuart

[cybermouse]

I am so sorry, but I am so sick about the nightmares and stories about money which is better invested in EU countries, it is the point of view.

That is the opinion of people who do not really know Turkey and when I look to all posts, everybodies statements here are the same (like - my country is the better one to invest). I never would do that because I do not really know all about the other countries, some countries I like some not.

I think honestly that is a point of view, a point of knowledge about the country and of course a point of right information which is necessary to invest in a development .

It does not matter where it is and I never would say, Turkey is the best you can do - it is the best what people can do who get the right advices of an english speaking solictor/lawyer who is specialised in that, who know about the big profits at present especially in our area Dalaman, who love the country, who are informed about the legal system and property purchase of foreigners - and it is always like in every country where people invest.

The bad stories and nightmares are always going to bei faster around than the business which is done well ! Isn´t it?

I live since 2003 in Turkey and in our area from Izmir until Fethiye live 30 000 English with residence permits , that is the statement which the british consul of Izmir gave me personally (we know him private).

I do not think that all 30 000 English are wrong to invest all only at the Lycian Coast.

And I met lots of people, who invested in EU countries like Spain and who sold their property there and invested the whole ammount in Turkey because they cannot afford the expensive costs now.

Also in EU countries the money is not always safe, everywhere in the world you could be ripped off , not only in countries which are not in the European Union.

All what you need is information about legal business in that country, a good advisor, an excellent lawyer there and a person of your trust who will give you insider informations.

[Magellan]

cybermouse, you are quite right in what you say - Turkey does offer greater investment potential than most EU countries. If you are looking for somewhere to live, it is equally good. I lived there myself for a while (in Ankara, not on the coast although I did travel there extensively).

Ultimately, though it is, as you say, a point of view. Live where you want to live, invest where you want to invest. But you have to admit that with greater investment potential comes greater risk and there is greater risk investing in somewhere like Turkey than within the EU. Unhappy generals and an Islamist government are not exactly a good mix.

[sjg-brasil]

Propertyinvestor.... If you are interested in Brazil, then I can give you good guidance for ROI in the NE of Brazil, as I have lived/worked and invested here during this time.

Send me an e-mail at any time.

[BONNIE66]

i myself have bought several properties in differnet countries some of which i regret ie in bulgaria i purchased several properties from a company called bulgrupo or bulgarian union as they now call themselves debra butland and still to date only received half of my properties which are not worth what i paid for them.i have also purchased in spain prior to that and was more than happy with what i received there and made a good profit,the last couple of years i have been buying in turkey and have made excellent profit on my properties and the rental income has been really good there i am more than happy to let yu have the name of the company we used and the next best areas to purchase in there,i hope this helps a bit.,

[Investy]

CYBERMOUSE

Its valid for people to have an opinion on which areas represent the best investment.

Just as with stocks and shares, there will be people who chose well and those that make a loss.

So we cant all slap each other on the back and say every investment nation is equal in terms of prospects for future returns.

We must therefore carry out detailed research and come to conclusions.

Without wanting to sound pious, I find most people dont really understand investment. For example one said to me the other day he had bought in Bulgaria. I asked him what the rental season was like and he said he got 9 weeks rent.

This tells us his property generated no income for 43 weeks. He spend £50000 on the property and his rent was £1800 for the year, minus costs such as Accountants fees in Bulgaria and the UK so his net return was £1000.

So £1000 return on a £50000 investment. Keep in mind he raised the £50000 against his house in the UK so the mortgage interest will have cost about £2500 pa.

That means he has made a loss of £1500 pa.

He cant sell the place on as there is NO EXIT STRATEGY.

This is because people buy the new developments not his 'second hand home'.

Lets say his property double in value in 5 years.

He will have made £50000, BUT his loss each year is £1500 plus he will have had buying and selling costs of about 20%, so he is left with £32500.

Lets say he is taxed at 40% (a captial gain of this size will mean 40% tax) so he ends up with £19500.

Thats not a good return but is typical.

[cybermouse]

INVESTY

In generally you are really right about investment and rental. I have got lots of english, scottish friends who all purchased only for investment, they use their properties one or two times in year by themselves and rent them all over the year to other English , somtimes longterm for cheaper but they get a permanent rent. I do not know about Bulgaria , but believe me, our area is very special and in english hands , why? They know where the profits are and they are not in Antalya or Alanya. Only 2 of 10 english friends of mine live permanently in Turkey in their "second home" and when they do like that, the most of them have got a possibility to give other english a room for rent for holidays. And I never met one English who said he never would invest again in our area, it is the opposite, they bring english friends with them who also invest after visiting the Dalaman area.

[entreprenuerchile]

As my mind set is in Chile. I am in the process of building condo town houses, in one of the most visited place in Chile. The other projects are Commercial(built) and High Rise(in progress). The scope is to buy and rent or for yourself as a place to use while visiting to invest in other properties.

About Morocco the Embassador is presently in Chile of Whom I've met with recently. On the notion for investment I'll have to keep you posted until I have some more concrete information.

Bottom line! It boils down to, Is where do you like to be some parts of the season?

Regards,

Bitton