Money under the mattress or maybe in the socks ...? Since bank deposits produce almost as much profit as they eat fees for account maintenance and other services ... what to do with saved, often hard-earned, and sometimes inherited or donated larger sum of money?
Usually, the ones who had a bit of market knowledge and a good nose for investments decided to put their money into real estate, and despite of the passage of time, property investments are still the most secure, reliable and profitable ones.
Well, yes, but .. uncertain market situation, the clouds of the U.S. crisis, rapidly changing exchange rates, the threat of cutting expenses of living costs in the light of rising taxes, etc., etc., all this is pretty discouraging to do anything, let alone to think about investing into real estate.
But I just look around and see that those wise and sensible, can not be confused and are still looking for attractive real estates for their investments. After several years of real estate boom on the European markets, the investors horizons began to broaden. First Spain, Croatia, Bulgaria and now Turkey become their preferred destinations.
Anyone who has tried his hand at real estate investments knows, that the purchase is the most successful when you can buy cheap and sell more expensive and this is what I would like to focus on here :)
In Spain it was cheap once, but it is over by now, Croatia and Bulgaria move in the same direction. Since 2003 investors from Europe and beyond began to discover that on the Turkish Riviera, on the warm Mediterranean Sea, you can buy luxury apartments with no more than 20-30.000 € and then it got started!
Thousands of Scandinavians, Germans, Britons and Russians quickly began to buy up what they could get, often at the stage of a hole in the ground. Well? Well, that paid off because what they have bought for 25.000 € 3 years later they could sell for 45,000 €. And since most investors realized that it is time for gaining profits from their investments and began to sell the apartments, the prices went up.
In 2006 investors have gathered a rich harvest, and even though market prices were higher compared to 2003, they still invested. The decision was not difficult, because the specific of a tourist region and of the economic indicators in Turkey allowed to be optimistic. Russians bought in bulk, also Danish, and those braver and with more capital began as well to enter the developer market themselves and they were not sorry, not at all!
Well, yes, but Turkey is not in the European Union and the Islam .... Well, who wants to focus on the arguments for and against the entry of Turkey into the EU or to analyze where it is safer on the streets of London or in Turkish resorts, can do that. But I recommend rather the analysis of costs and profits from real estate investements for example in Alanya, the destination so loved by the foreigners.
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