Turkish property - grim future?

...just see that there is talks of a crisis in the Turkish EU accession talks, and attitude on both sides seems to be hardening.

Property crisis in the air?

Sponge Bob

nothing like what will happen in Bulgaria in another 2 or 3 years.

Many properties in turkey were only €30k-40k whereas muppets are shelling out €120k for bulgarian properties without realising the Management Company _IS_ the Mafia.

The Turkish one may not really grow in price but the Bulgarian ones will probably collapse in price once the pyramid stops growing and the mafia starts to look for its Management Fees .

So maybe its not a good time to but in Turkey but I would not sell either.

Turkey is still an establshed , cheap, family friendly holiday destination for the Irish.

Raytown Rocks

Deleted User wrote:

...just see that there is talks of a crisis in the Turkish EU accession talks, and attitude on both sides seems to be hardening.

Property crisis in the air?

I cant really see a problem here. OK EU access may be delayed but the property market will still do ok.
Plenty of people still using it as a holiday destination and also plenty of people still buying over there, myself included.

A few of us looked at Turkey but went for Belgrade, Serbia instead. Supposed to be a hot tip, but we haven't put in much at all. Still cheap there, nice apartments near city overlooking Danube for 25/20k.

Sponge Bob

Lots of gangsters in Belgrade too but at that price it could well be worth a flutter , unlike spending €125k in Bulgaria with mysteriously 'guaranteed rents ' for a place thats empty most of the year .

I'd nearly join a sydicate liek that meself

Sponge Bob

Sponge Bob wrote:

Lots of gangsters in Belgrade too

Possibly. First thing we did was ring the British Embassy and find out the name of a good lawyer. Pricier than the usual local hack but worth paying extra to know you aren't buying a dump and funding Arkan's successors...

Sponge Bob

good lad, now thats research in my book

how bout this lad though .

hmmm

Good lord I thought people "investing" in Bulgaria were risking their own lives, but investing in Belgrade? Even the leader of possibly the next lead party in government is up before the international war tribunal in the Hague (Vojislav Seselj)

Sponge Bob

True but the pricing reflects the risk unlike in Bulgaria. I had though of what seselj s mob (rabid nationalist nutjob fascisti) could do...and thats mainly through tax and capital movement mechanisms , not what they did to the Bosnians.

A property in the centre of a big city at €20-25k is much more sensible than a mafia owned resort at €100k .

hmmm

Well at least you're risking less, although I wouldn't be in a rush to visit Belgrade to evict a tenant if they decide they want to stay. I'm not sure where Serbia is going to get growth from which will provide capital gains (Bulgaria is nearly as bad). EU membership is a long long way off, if ever, and if the nationalists win control it will be pushed out another 10 years.

Sponge Bob

it still makes a lot more sense to me than the mafia controlled Sunny Beach .

Jaysus lads, ye have an awful picture of Belgrade.

Know plenty of Irish people who have been there and everyone says it's great. No crime, no hassle, no hostility, cheap beer and food, everyone very welcoming and stunning women - just like Croatia and Montenegro. Just like Croatia, of course, you don't mention the war, but otherwise gets a big thumbs up.

Things get a bit volatile during football or basketball games between Partisan and Red Star, and the city itself while nice is not as nice as Prague or Budapest, but otherwise have heard nothing but glowing reports. In fact, Cork City fans who went there lately stayed in the Intercontinental - Arkan was assasinated in the lobby!