Investing in Turkey

[redsquash]

My first reaction was ..........are you nuts?


Investing in a culture in which you cant communicate in would be worse than swallowing hot coals.
you are at the mercy of one and all IMHO
Of course you could go onto the equivalent somersoft Turkey property forum and ask questions!
Which currency would you pay in and would you use hedging to cover your self.
How similar or different is the Tax code to ours?
Are there restrictions on taking funds from the country or limits?
If you had to sack a property manager how would you vet a new one?
If you had to sell could you get an accurate truthful price of your property that you would be condfident with.

Apart for other issues some people have raised I don't see any problems.

 

[tubs]

My first reaction was ..........are you nuts?


Investing in a culture in which you cant communicate in would be worse than swallowing hot coals.
you are at the mercy of one and all IMHO
Of course you could go onto the equivalent somersoft Turkey property forum and ask questions!
Which currency would you pay in and would you use hedging to cover your self.
How similar or different is the Tax code to ours?
Are there restrictions on taking funds from the country or limits?
If you had to sack a property manager how would you vet a new one?
If you had to sell could you get an accurate truthful price of your property that you would be condfident with.

Apart for other issues some people have raised I don't see any problems.

Gotta agree 100% here.

Why would you do this, when the market is so damn good HERE!

 

[mcdeyess]

title problems

Apparently another problem with Turkey is land ownership. There are l lots of scams where they sell land/houses to foreign investors and then someone else rocks up with a bit of paper saying they own it. You basically bought from someone who didn't own the property. Good family scam where you buy from the son but the property title is held by the father. The reason it works is because the government doesn't keep accurate records as to title ownership.

Enter with caution I say.

Cheers,
Rob