Message from the Prime Minister of Republic of Turkey

The Great Recession in 2008-09 taught us that the solution to global challenges rests in global actions. The rise of the G20 is a manifestation of this spirit. As the major economies of the world, we adopted a more integrated, coordinated and effective approach to the challenges we have been facing. During these difficult times, the G20 has clearly demonstrated its capability as a global crisis resolution forum.

We managed to contain the immediate effects of the Great Recession, but as stated in Brisbane by the Leaders of the G20, the growth is still slow, uneven and not delivering the jobs needed. Meanwhile, the potential of our economies has fallen and the inequalities kept rising all over the world. There still exist critical challenges to be addressed by the G20. This means that, the G20 is still highly important and relevant in a post-crisis world.

The G20 is the premier platform for global economic and financial issues. Therefore, any subject matter that has implications on the global economy and international financial system should have its reflection onto the G20 agenda. With that understanding, while taking forward the ongoing agenda, we will focus on ways to make the G20 more relevant to the rest of the world, including the low-income developing countries (LIDCs).

Collective Action for Inclusive and Robust Growth

The G20 has been instrumental to contain the adverse effects of the Great Recession so far. Going forward, the membership has devised comprehensive policy frameworks in a variety of areas and put forward substantial commitments to achieve our common objective of strong, sustainable and balanced growth. Now is the time to act. As the G20 3 Chair, Turkey will spare no effort in fulfilling this critical responsibility to steer the platform to achieve our ambitious targets.

2015 will be a year where G20 will focus its efforts on ensuring inclusive and robust growth through collective action. This can be formulated as the three I’s of the Turkish Presidency: Inclusiveness, Implementation, and Investment for Growth.

Inclusiveness has both domestic and global dimensions. At the domestic level, we must ensure that the benefits of growth and prosperity are shared by all segments of the society. For this purpose, we will emphasize issues pertaining to the small and medium sized enterprises (SMEs) as a cross-cutting subject, follow up our commitment on strengthening gender equality in employment as well as addressing youth unemployment. Turkey aims to ensure that discussions within the G20 resonate with the majority of our citizens. At the international level, challenges facing the LIDCs will be raised more vocally by the G20. This will be one of the defining aspects of the Turkish Presidency.

The G20 has so far taken significant strides in designing and launching policy frameworks in many areas. In November 2014, as the members of the G20 we have agreed on the Brisbane Action Plan and pledged to undertake about 1000 commitments that, if fully implemented, will add more than USD 2 trillion to the global GDP and generate millions of additional jobs for our citizens by 2018. Likewise, for a number of work streams within the G20 including financial regulation, international tax, and international financial architecture, words have played their part. 2015 will be the time for the deeds and the year of implementation.

Finally, Turkey will put a firm emphasis on investments as a powerful driver of growth. Building on existing works, we will introduce a new narrative that will address the investment gaps of the member countries via concrete and ambitious investment strategies. 4 We will build on the legacy of efficient and result-oriented approach in our G20 works, and will always be guided towards concrete deliverables.

Prof. Dr. Ahmet Davutoğlu

Prime Minister of Republic of Turkey

With a vast and stunning coastline which gets easier to reach each year, southwest Turkey continues to attract British buyers in their thousands. Don’t jump in without reading our indispensible guide.

Vibrantly diverse and one of our most exciting emerging markets, Turkey remains a mid-table mainstay of our Top Ten Places to Buy 2015

Each year it gets slightly easier to buy and a more firmly established market for overseas buyers – in fact at the close of 2014 it finally became a reality that purchasers of resale properties could get their title deeds in one day (see below).

Despite fierce competition in the last few years from the depressed property prices of Spain, Turkey still remains great alternative to the Costas for coastal properties well under the £100k threshold; whilst at the other end of the spectrum it attracts high-end buyers for its affordability when weighed against the Cote D’Azur or Sardinia.

Its huge south-west coastline littered with ancient remains and unspoilt beaches still offers plenty of potential, and over 35,000 Brits own a property on the shores of the Mediterranean, along with a good number of Scandinavians, continental Europeans and a growing number of Russian and Middle Eastern investors. Some uncertainty surrounding the elections in Turkey is now over, and the Turkish lira is on its way back up as a result.

Over the past two years, these non-EU investors have really fuelled the markets in both Bodrum and Istanbul whilst the British especially love the various resorts around Fethiye, Kalkan and Altinkum.

Yalikavak on the Bodrum peninsula has become especially fashionable in the past two years, attracting luxury brands and a wealthy cosmopolitan market since its new Palmarina was completed. 

Competitively low living costs are also a big factor, especially for the semi-retired or fully relocating families. Local produce, labour costs, healthcare, education and property taxes are all low; and how does council tax of £35 per year appeal? Utility costs are much lower than in nearby Cyprus.

Winters are much warmer than the UK – at least in the southern seaside areas where British people usually buy.

Source: 'A Place In The Sun'

A foreign investor who wants to purchase a property in Turkey must know the procedure and the local laws and regulations related to real estate. Firstly, he has to ask, at a Turkish Embassy or Consulate in his parent country or at the General Directorate for Land Registry and Cadastre in Turkey, for the list of countries whose citizens can buy properties in this country.  The foreign businessmen who want to purchase land without a building must submit, within two years, the project of the future building. This project must be send to the local authorities.

Buying a property can’t be done without a document signed at the Land Registry Directorates. Before signing the contract for purchasing a property, you can also sign a sales commitment agreement in front of a public notary.

Restrictions for foreign investors

Businessmen from other countries can’t buy how much land they need because of the local law. According to Turkish regulations, a foreign citizen can purchase maximum 30 hectares, but not within security zones or military forbidden ones.

The foreign investors interested in buying lands in a town or a city must not purchase more than 10% of the total area. They can choose another person to represent them for the buying procedure and that person will have the power of attorney.

Before selling a property, the owner or his representative will make a preliminary application to the Land Registry Directorate. It is mandatory for the seller and buyer to pay a fee which is calculated according to the price of the property that can’t be less than the “Property Statement Value” stated by the municipality. Besides this fee, it should also be paid a fee for circulating capital.

No mortgage for the property to buy

Before buying a property, the foreign entrepreneur should ask at the Land Registry Directorate if  there is any mortgage or other problem regarding the property. The foreign citizens aren’t allowed to buy a property with a mortgage in Turkey. For better results, it is advisable that the foreign citizen ask for assistance and guidance from a local specialized lawyers or other specialist in real estate.

Foreigners does not have to obtain a residence permit in order to buy a property and if you will purchase a property it won’t give you the right to work or stay in Turkey.

Our attorneys in Turkey can help you throughout the whole procedure of buying a building or a land in Turkey, at competitive prices.

Turkish tourism sector eyes $36 billion income in 2015

KAYSERİ - Anadolu Agency

DHA Photo

DHA Photo

Turkish tourism representatives expect to reach over $35 billion in this year’s annual income by hosting more than 42 million tourists, despite Europe’s economic problems and conflicts in neighboring countries, said Başaran Ulusoy, president of the Association of Turkish Travel Agencies (TÜRSAB).

“The sector has been growing by 2-3 percent, despite the downfalls all around, including security concerns in Syria, Iraq and Libya as well as economic problems in the eurozone. Turkey will close the year with more than 42 million tourists and over $36 billion in yearly income, I believe,” he said in an interview with Anadolu Agency. 

He also said more than 8 million Turkish people go abroad for vacation and visit 78 countries. 

Ulusoy also addressed the winter tourism potentials of Turkey, referring to the Erciyes Skiing Center in the province of Kayseri. 

“We should evaluate such centers 365 days a year... Our aim is to enable these [newly built] facilities to attract tourists, both local and foreign, in summer as well as in winter,” he said. 

The number of tourists who visited Turkey reached an all-time high of around 37 million in 2014, pushing Turkey closer to Italy on the most visited destination chart.