quote:
Originally posted by reader07:
quote:
Originally posted by homerealestate:
The right place to invest now is Turkey. Most of the overseas property purchasers are investing
their money for the Turkeys future.( Turkey will become a member of Eu in 10 years) Please visit the link below to see what you can buy with that money.
Sea view properties from 89,000 € 
www.home.com.tr
Are you joking?
Turkey is last week's news.
Did you look carefully at the properties on your website? They are the most horrible buildings I have seen in a long time.
Dear friend the way you are writing in the forum
and the language you are using also show your personality.If I was a buyer and I was dealing with someone who is like you I wouldnt even by a paper from you.First you should have respect to the others.There are always different choices in the market and investors will find their way to find right one.I recommend you to tell you opinions about new growing markets and let them free to make their decision.Dont be pushy.
And please before you talk about the real estate market do your homework and read the real estate market reports from different international companies.You can find one of them below.Maybe it helps you to learn more about international real estate markets.
Groupama, the major player in France's insurance market that recently bought Başak Sigorta and Başak Emeklilik, is targeting a lead position in Turkey's insurance sector.
The company will invest $400 million in Turkey before the end of 2007, said Groupama CEO Jean Azema. Turkey has much potential, said Azema, and added that large insurance companies are likely to continue to invest in the country.
�We want to grow. We want to become a market leader. There are many criteria in the matter of purchasing a company, but we'll certainly evaluate all the opportunities that may strengthen our status,� replied Azema when asked whether Groupama was looking to purchase a new company in Turkey, such as Ak Emeklilik or Garanti Sigorta, both of which are looking for partners.
Groupama also has a presence in many countries besides Turkey and France, such as Spain, the United Kingdom, Italy, Portugal, Hungary, China and Vietnam, said Azema, adding: �We will transform our representative office in China into a firm. We also have plans to buy companies in Bulgaria, Romania and the Czech Republic.�
Turnover target of 7 percent:
Groupama was founded by farmers looking to protect themselves against risk in 1900, said Azema. The company offers three main areas of services: property insurance, personal insurance, and personal and group savings and banking. Since 2005 the company's turnover has reached 12.45 million euros, according to Azema. As part of Groupama' 2009 development strategy to accelerate international growth, it has a target of a 7 percent increase for annual turnover.
As of Oct. 31, Başak Sigorta's premiums had grown by 18.6 percent in 2006, amounting to YTL 337.4 million, said Azema. Başak Emeklilik's premiums also grew by 18.6 percent, to YTL 169.9 million, during the same period. He added that Groupama was expecting a turnover increase of 60 percent by 2009 and was also looking to launch new brands, such as Başak Groupama Sigorta and Başak Groupama Emeklilik within the next year.
Partnership with Güneş Sigorta:
Groupama's presence in Turkey goes back to the beginning of the 1990s. The company purchased 36 percent of the shares in Güneş Sigorta in 1991 and in the same year bought Başak Sigorta and Başak Emeklilik via their privatization process.
The aim in purchasing Güneş Sigorta was to create a synergy with Başak Sigorta, said Azema. He did not comment on whether Groupama was looking to be the majority shareholder in Güneş Sigorta. Groupama had solved issues involving small shareholders Tariş, Çukurovabirlik and Fiskobirlik, announced Azema, with Groupama International General Manager Jean Francois Lemaux paying $34 million each to Tariş and Çukurovabirlik and $13 million to Fiskobirlik.
Groupama's total share in the Turkish insurance sector, including Başak Sigorta, Başak Emeklilik and Güneş Sigorta, will be around 9 to 9.5 percent at the end of 2006, said Başak Sigorta board of directors vice chairman Mehmet Aydoğdu. In 2007 that percentage is expected to increase to 10 percent, he added.
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One of Europe's leading real estate investment banks, Eurohypo, became extremely successful only a short time after its entrance into the Turkish market and changed its business strategy. Eurohypo declared Turkey as the country where it will have the most benefits in the future, even with Turkey's lack of legal regulations like mortgage systems. Eurohypo is a subsidiary of Commerzbank, one of Germany's leading finance groups and their Head of Corporate Banking Europe Southern/Central Hartwig Glatzki said the attractiveness of the real estate sector in Turkey has led them to open a representative office. “In only one year in Turkey we have attained the same volume of revenues that we obtained in Spain within a six year period,” he said. Saying that the Turkish market is very important for Eurohypo, Glatzki explained they initially had doubts. “Two years ago, we conducted a detailed study before we entered the Turkish market. Once we came and saw a contemporary and agreeable Turkey, we were astounded.” Glatzki went on to note that Turkey will be a very different and rapidly developing, dynamic country in the coming years. Saying that they usually operate with three-year plans, Glatzki said that the real estate sector has been extremely active in the past 15 years and now it stands out as a sector with increasing prominence. Banks such as Eurohypo could only open up to the international markets after 1990, and they first applied the mortgage-based system in Spain between 1990 and 1996 obtaining a credit portfolio of about 550 million euros in six years. They reached this goal in Turkey with 564 million euros in only one year. Glatzki thinks that they will reach at least 3 billion euros in five years.
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Dubai Towers gets its land, for 705 million dollars
The controversial "Dubai Towers" project which been the center of public and media speculation for many months now has finally obtained the plot of land necessary to go ahead with the project.
In a final round of bidding yesterday in Istanbul, the 46 thousand square meter plot of land in the central Istanbul district of Levent went for 890 million YTL to the United Arab Emirates firm Sama Dubai, whose closest competitor in bidding was the Turkish company Zorlu Holding. Zorlu's bidding for the plot of land, which is the former IETT Garage land in central Levent, pushed Dubai Sama's bid up an addition 99 million dollars from the previous round of bidding. Sama Dubai belongs to Dubai Sheik Muhammed Bin Rasid El Maktum. Despite the fact that he had declared two days ago that "we are expecting a bid of one billion dollars," Istanbul Mayor Kadir Topbas said that he was not disappointed yesterday, and that the offer of what amounts to 705 million dollars was quite satisfying. When completed, the Dubai Towers are expected to be Turkey's tallest buildings.
Speaking after the bidding took place yesterday, Mayor Topbas congratulated the companies which had taken part in the process, noting "We see one truth, which is that the stability in our country is reflected in the prices here. We have reached a level of real estate prices which the most developed countries have."
