Spain, still no:1?

[mickthepropertyguru]

Slightly off the point but one thing i would say is that Istanbul is looking excellent but its is due for a massive earthquake in the next 30 years. Experts have predicted that it will knock something like a quater of the city due to poor construction and likely to kill over 50,000 if past records is anything to go buy.
The fault line lies around 15 km south of the city.
For me the risk is too high as it would take the city a long time to recover and would kill investment in the future after such an event for a fair period of time.
Madrid and other cities in the north of Spain look pretty good still!

[New Home in Turkey]

Well, I cant say that, talking earthquakes, Istanbul is the securest city on earth. However, the subject beeing known by the government, and by all local authorities, new constructions are closely watched and all built according to very strict criterias. I would recommend new developments which are very much secured to the deadliest earthquake.

On the other hand, one other city that is not too much under the spots, but that I think should be, is Ankara, which is one the 2nd most populated city in Turkey, and of course the capital city of Turkey. (and no earthquake risks...)

[Aegean]

Also look at Izmir if they get the expo 2015. Lovely location and if good quality property you will get long term rentals. Added bonus is you can get 75% LTV mortgages fixed in Euro's now.

But be careful in Istanbul as many projects are overpriced.

[laurajane]

i think spain has been and done already...we need to be looking for the next spain..my bets are on turkey. with their growing economy property is estimated to increase by 40% per annum!!! its going to be the next property hot spot for sure!

[New Home in Turkey]

Well, Turkey is for sure an attractive location, and I think those who invest here wont regret it. However, as in each investment, I think the most important is to define a clear strategy, will it be a long term or short term investment?
Assume that 10 years ago, someone who'd bought a property in Marbella would get a fortune for it today.
Its exactly what it is going to happen in Turkey.

[laurajane]

yes i completely agree with you, i think if you can buy off plan then you can make a good profit just waiting a few years...but long term you could really gain from an investment there. Places like Didim which are close to the main town of bodrum but alot more scenic will defiatly attract the wealthy...so who knows maybe didim will be he next marbella... fingers crossed for me!

[Lysos]

laurajane,

just who estimated Turkish property is going to increase by 40% per annum ?. Based on what ?. I've been going on holiday to Turkey for the last 12 years, because I like everything about it - as a holiday destination - and it's cheap. What will increase by 40% is the number of unsold new properties in the tourist resorts.

[New Home in Turkey]

I am not very sure of the %40 increase in property prices p.a, and also think that it might be a little overrated. No need to talk about the reasons, but the most obvious one being the subprime crisis affecting the global business world.

[mickthepropertyguru]

The best investments in any beach/coastal resort are the apartments/villas that are beach front or have amazing views. The further away you go from the beach 2nd, 3rd line etc the less rentals and the less chance of resale ability you will have. For pure investment anything else i think is risky.
New and off plan developments are and will kill many coastal markets in time with over supply. Bulgaria and Spain had very little regulation.
Turkey has slightly better laws regarding this i guess with 20% building density and many developments being under 3 or four stories.

If you are buying anywhere else i feel that it should be more of holiday home/investment.
Sunny Beach is a great example of this. Turkey will follow in Sunny beaches footsteps i would think in the next few years. The real winners in Spain are the front line properties. This will be the case in Turkey, Albania, Italy etc.

[Goldberg Global]

Spain or France for uk buyers by a mile and a half.
Safe, services and security - Easy and Western

Other countries for other buyers for sure and more adventuresome types.