Spanish Property a Better Bet than Turkey

Turkish English-language newspaper Hurryet Daily News is reporting that the government has banned foreigners from purchasing property in a number of locations in Southeast Turkey.

According to the report, foreigners have been banned from purchasing real estate in Mardin, Kilis and Hatay as title deeds owned by overseas buyers has exceeded 10% of the total available in these destinations.

According to data from the Turkish Land Registry Directorate, four German foreigners have bought 25,153 square meters of property in Kilis, while 99 foreigners bought 521 properties for a total of 2,383,192 square meters in Mardin.

Speaking to the Planning and Budgets Commission of Parliament, Mustafa Demir, Minister of Public Works and Settlement said: “Since the acquisitions in Mardin, Kilis and Hatay have exceeded 10 percent of the improved land, the purchasing of property by foreigners is banned by the Cabinet.”

Turkey has become an increasintly popular overseas property destinations over the past 18 months as the strength of the Euro has resulted in many British buyers, who might previously have bought in places like Spain, turning their attention to the country.

At least in Spain buying Spanish property and Real Estate there are no such concerns regarding purchasing by overseas buyers.

Full story Hurryet Daily News. Foreigners banned from buying real estate
The government has banned foreigners from buying more real estate in Mardin and Kilis following similar restrictions in Hatay, citing the number of already-purchased land titles as exceeding the legal limit.

According to data from the Turkish Land Registry Directorate, four German foreigners have bought 25,153 square meters of property in Kilis, while 99 foreigners bought 521 properties for a total of 2,383,192 square meters in Mardin.

Mustafa Demir, Minister of Public Works and Settlement spoke to the Planning and Budgets Commission of Parliament and released information on his ministry’s figures.

On the matter of land sales to foreigners, Demir said that as of today, 97,192 people own 87,069 properties.

“Since the acquisitions in Mardin, Kilis and Hatay have exceeded 10 percent of the improved land, the purchasing of property by foreigners is banned by the Cabinet.”

www.goldacre-estates.com

Monarchs New Flights To Fuerteventura, Canary Islands, Prove Popular

Monarch’s Airways new flights to both Fuerteventura and Gran Canaria are proving popular as figures for the October half term are released.
The Fuerteventura flights saw over 2000 passengers during half term and Gran Canaria had over 1500 making a 0.86% increase on the same period last year.
Managing director Liz Savage commented, “Our new services to the Canary Islands of Fuerteventura and Gran Canaria have been very well received and their addition strengthens Monarch’s flying programme to the Cannary islands, with 46 flights per week operating between the UK and the Canaries during winter 2009-10.”
Certainly the Canary Islands residents and property owners have also benefitted from these increased flights and wil help the Spanish property market– local Tui flight ticket providers have just advertised with Goldacre-Estates.com Christmas specials starting from €39!

New Flights To The Canaries Will Boost The Property Market.

New flight services to the Canaries should be a boost for the property market. All the Canary Islands and in particular Fuerteventura could be in line for a property market boost as low-cost airlines start arriving from the UK.

Budget carrier EasyJet has revealed that three new services will fly to the Islands from early next month. A Liverpool to Fuerteventura service will begin on November 2nd and flights to Lanzarote will start from the same location on the 3rd. On November 4th, a new service will commence to Fuerteventura from London Stansted.

Palm Air and Monach Airways have already started new services to Fuerteventura.

RyanAir are also opening new air routes into Lanzarote which with the regular ferry routes between the two islands means even more choice for travellers to Fuerteventura.