Kusadasi Turkey | Turkey Property Investment

We have long known that volatility in the global economy, combined with the eurozone debt crisis and sluggish growth in most established markets was driving growth in investment to Turkey and other emerging markets. But few would have believed it would be driving quite as much growth as we now know.

According to the latest data from the Central Bank of the Republic of Turkey (CBRT), Foreign Direct Investment in the first half of this year increased by 325% compared to the same period last year. With the Eurozone debt crisis only getting worse, and even the US once again causing global instability, one can only foresee continued growth in Turkey investment property.

The rise was fuelled by a 388% growth in investments from European nations, a 140% increase in investment from North America, and a 329% growth in investment from the far east, all of which more than made up for the disappointing 43.3% drop in investments from near and middle eastern nations — this is hardly surprising given the effects of the Arab Spring, but disappointing none the less.

Of the total $6.9 billion in investment, $5.7 billion was invested in the services sector, and the other $1.1 billion went to the manufacturing sector.

In other news Turkstat revealed a further drop in unemployment, which fell 1.6 points in May compared to last year, leaving the total unemployment figure at 9.4%.

The mortgage sector in Turkey for Foreigners.

The mortgage sector, which grows up rapidly all around the world, also entered in a serious improvement process in Turkey in March 2007 with the issuance of the "Mortgage Law". The effect of the law is that the demand of purchasing property increased and the mortgage sector went a step further.

Consumer loans in Turkey also increased in parallel with the growth of the mortgage loans. The total consumer loans' volume reached 172.693 billion TL in the middle of February 2011; while it was 91.353 billion TL in 2007 and it has a 89,04 % growth rate. Comparatively, in 2007 the mortgage loans, that had a volume of 30.823 billion TL, formed 33,74% of the total consumer loans and in the middle of February 2011; the mortgage loans had a 92 % growth rate, formed 34,27% of the total consumer loan sand its volume ascended to 59.188 billion TL.

With the growth of the demand of the mortgage loans, Banks started to play an active role. The volume of the mortgage loans of the public, private and foreign banks, which are categorized according to their capital, was 42.543 billion TL in 2009 and in the middle of February 2011, it reached to 59.188 billion TL. Between 2009 and 2011, the volume of the mortgage loans raised 16.645 billion TL and the growth rate became 39,13%. In the middle of February 2011, the public banks' mortgage loans volume was 17.409 billion TL, while it was 11.921 billion TL in 2009 and the growth rate was 46,04%. Furthermore, the volume of the private banks' mortgage loans was 19.769 billion TL in 2009 and it increased 43,06 %and became 28.281 billion TL. In addition to that, the growth rate of the mortgage loans in foreign banks was 24,31 % and the volume raised to 13.493 billion TL from 10.854 billion TL between the years 2009 and 2011.

The new regulations also gave ability to start residential financing companies like correspondent lenders and financing organizations.

DD mortgage - A joint venture of one of Turkey's biggest corporations Dogan Holding and one of the world's biggest banks Deutsche Bank, was established on 2008 with an approval from BRSA ( Banking Regulation and Supervision Agency). DD Mortgage's vision is to be one of the leading home financing corporations with high technology standards and a team of professionals with extended experience on mortgage products.

DD Mortgage creates values on mortgage industry with innovative products, flexible procedures and technological infrastructure combined with experienced employees. DD mortgage is also working on secondary market products in order to improve quality and increase resources that are available for residential home loans industry.
Author Resource:- Article written by Leading Mortgage DD company in Turkey, providing appropriate mortgage solutions such as Konut Kredisi with the help of specialized credit portfolio managers.

Kusadasi Turkey

Kusadasi, Beautiful City

Kusadasi was once a simple fishing village. However it has now become a Beautiful city situated on the Aegean coast. Kusadasi is without doubt a great place to stay as it is ideally located to explore the sights that Turkey has to offer.

Close to the interesting historical city of Ephesus. A cosmopolitan atmosphere prevades throughout the city and the busy harbour is packed with music bars, restaurants, bazaars, great shops and cafes.You can take a taxi from the apartment.

There are also two beaches to choose from close at hand.