CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
| FETHIYE, TURKEY | ||||||||||||||||||||||||||||||||||||||||||||
| C O U N T R Y
D A T A
| Population | 66.49 million persons | ||||||||||||||||||||||||||||||||||||||||||
| PopulationGrowth | 1.26% | |||||||||||||||||||||||||||||||||||||||||||
| Land Area | 770,760 sq km | |||||||||||||||||||||||||||||||||||||||||||
| Currency & Exchange Rate | Turkish lira (TL$) (~ 0.000000364757 GBP) | |||||||||||||||||||||||||||||||||||||||||||
| GDP-PPPMethod | 381,237.0 millions of US dollars | |||||||||||||||||||||||||||||||||||||||||||
| GDP Growth | -8.550% | |||||||||||||||||||||||||||||||||||||||||||
| GDP Per Head | 5,733.0 Thousands of US Dollars Per Person | |||||||||||||||||||||||||||||||||||||||||||
| Financial | Interest Rate | Inflation Rate | ||||||||||||||||||||||||||||||||||||||||||
| 5% | 18.4% | |||||||||||||||||||||||||||||||||||||||||||
| National Bank | Türkiye Cumhuriyet Merkez Bankasi | |||||||||||||||||||||||||||||||||||||||||||
| Political | Under the constitution of 1987, legislative power is vested in a single chamber, the 550-member National Assembly, which is directly elected by proportional representation for a 5-year term. The National Assembly elects both a prime minister (normally head of the largest party in the assembly) and a president, who is head of state and serves a 7-year term, between whom executive powers are shared. In the November elections of 2002, the centre left Republican people’s Party (CHP) and conservative Justice and Development Party (AKP) crossed the 10% threshold necessary to return MPs to Parliament, with 19% and 34% respectively. Early complications meant that the chairman of the AKP chairman, Recep Tayyip Erdogan, did not assume leadership and his deputy, Abdullah Gil took the role of PM. However, after parliamentary constitutional amendments, Ergodan took over his deputy, enabling Ergodan to become PM and form a new government. Gil was then appointed foreign minister. The new government were barely in power when the war erupted in Iraq in 2003. Since then, four key issues have dominated the AKPS political agenda: Iraq, EU accession, Cyprus and the economy. The government have also had to deal with terrorist activity in Istanbul, ensuing in a major crackdown on such activity. In March 2004, the AKP renewed its winning position by gaining 42% of votes in local elections. | |||||||||||||||||||||||||||||||||||||||||||
| Social Security | Yes | |||||||||||||||||||||||||||||||||||||||||||
| Languages | Turkish; Kurdish, Arabic, Albanian, Armenian, Bulgarian, Greek, Domani, Romani, Ladino, Serbian and Tartar also spoken | |||||||||||||||||||||||||||||||||||||||||||
| Customaries | Shaking hands is the normal form of greeting. Hospitality is very important and visitors should respect Islamic customs. Informal wear is acceptable, but beachwear should be confined to the beach or poolside. Smoking is widely acceptable but prohibited in cinemas, theatres, city buses and dolmuses (collective taxis) For a detailed list of special events, contact the Turkish Tourist Office | |||||||||||||||||||||||||||||||||||||||||||
| Ethnic Make-up |
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| Tax | Income Tax | Capital Gains Tax | ||||||||||||||||||||||||||||||||||||||||||
| Generally taxed as part of normal income. | |||||||||||||||||||||||||||||||||||||||||||
| Description | Turkey benefits from both a capable workforce and diverse natural resources while occupying a strategic geographic position linking Asia, Europe and the Middle East. Turkey's large, youthful labour pool, faced with limited domestic opportunities, has sent some two million expatriate workers into Western Europe alone. Annual remittances to Turkey from these expatriates provide more than $US5 billion annually to the Turkish economy—about 2.5 percent of GDP in 2000. Turkey is self sufficient in agricultural products such as maize, sugar, what and barley, cotton, tobacco, fruit, vegetables and nuts. They are also grown for export. The agricultural sector still accounts for 15% of the total economic output and is still a vital employment source for many Turks. Tourism dominates the service sector, although it has experienced some downturn since the terrorist activity in Istanbul in 2003. Other major economic outputs are Textiles, Iron & Steel, clothing, and electrical machinery with the US, Germany, France and the UK being the major trading partners. Outside Europe and the USA, Turkey has built up significant economic links with Saudi Arabia and the former Soviet Republics of Central Asia. Turkey is one of the world's most rapidly industrialising markets, with the UK being the 5th largest investor in. British firms cover a wide range of sectors, with over 41 British companies investing. The economic and political activity over few years will prove to be decisive in whether Turkey can realistically expect to join the EU in 2007. | |||||||||||||||||||||||||||||||||||||||||||
| L O C A L
D A T A
| Investor Profile: | Cash & Equity Investor Pension Investor Holiday Investor Retirement Investor Downshifter Investor Business Investor | ||||||||||||||||||||||||||||||||||||||||||
| Category: | Silver | |||||||||||||||||||||||||||||||||||||||||||
| Population:
| Total | British | ||||||||||||||||||||||||||||||||||||||||||
| 3,000 | 100 or less | |||||||||||||||||||||||||||||||||||||||||||
| Climate: | Hours of Sunshine Per Day in Summer | Days of Rain Per Year | January | July | Average Water Temp. | |||||||||||||||||||||||||||||||||||||||
| 10 | 20 | 12C | 34C | 20C | ||||||||||||||||||||||||||||||||||||||||
| Proximity to: | Airport | Beach | Nearest City | |||||||||||||||||||||||||||||||||||||||||
| Dalaman Airport - 50 km | Calis Beach | Olu Deniz | ||||||||||||||||||||||||||||||||||||||||||
| Restaurants and bars: | While sitting on the café-lined harbour front, drinking a refreshing cup of Turkish tea or enjoying a cold glass of the local lager, you can decide which boat trip you will take tomorrow, or spend some time perusing the 'paspastur' - the alley ways of shops filled with all the things you want to take home with you. This area is best experienced at night, when the lights, sounds and atmosphere really bring the town alive. There's a good balance of evening activities mainly centred around the bars along the seafront and the picturesque old quarter is packed with bazaar-style shops, restaurants and bars | |||||||||||||||||||||||||||||||||||||||||||
| Sports and leisure facilities: | In Fethiye you will find watersport activities for the more adventure seeking – rafting, sailing and paragliding over the surrounding mountains and mountain biking is also a popular activity. The town of Fethiye has full marina and mooring facilities. Besides Fethiye, Gocek and Marmaris are the other two ports which are near to Oludeniz. Both these ports have excellent marina and yachting facilities | |||||||||||||||||||||||||||||||||||||||||||
| Transport: | Public Transport | Roads | ||||||||||||||||||||||||||||||||||||||||||
| Fethiye is well served with most of the major bus companies within Turkey. Pamukkale, Kamil Koc, Ulusoy, Metro are some of the major bus companies which have direct services from Istanbul, Izmir Ankara, Antalya and from most other big cities | Excellent links as described on good roads. The terrain can get a bit hilly and offers spectacular scenery whilst driving. | |||||||||||||||||||||||||||||||||||||||||||
| Crime rate: | Low | |||||||||||||||||||||||||||||||||||||||||||
| Main types of employment | Services and tourism | |||||||||||||||||||||||||||||||||||||||||||
| Future plans: | To continue building on its tourist offerings and to preserve historic roots. | |||||||||||||||||||||||||||||||||||||||||||
| Yield range | 8 – 10% | |||||||||||||||||||||||||||||||||||||||||||
| Type of property | Entry Price | Rent- Peak | Rent- Off Peak | Average Annual Yield | ||||||||||||||||||||||||||||||||||||||||
| 2 bed apartment | £28,000 | £270 | £200 | 9.8% | ||||||||||||||||||||||||||||||||||||||||
| 3 bed apartment | £30,000 | £280 | £220 | 9.3% | ||||||||||||||||||||||||||||||||||||||||
| 3 bed townhouse | £28,000 | £240 | £190 | 9% | ||||||||||||||||||||||||||||||||||||||||
| Detached | £34,000 | £280 | £190 | 8.4% | ||||||||||||||||||||||||||||||||||||||||
| Demand for letting | Peak | Off peak | ||||||||||||||||||||||||||||||||||||||||||
| Very high | Quite high to moderate | |||||||||||||||||||||||||||||||||||||||||||
| Finance and leisure scores: | Total (out of 10) | Financial (out of 5) | Leisure (out of 5) | |||||||||||||||||||||||||||||||||||||||||
| 8 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||||
| Flights scheduled from: | London Airports, Manchester, Luton, Birmingham, Newcastle, Cardiff, Belfast | |||||||||||||||||||||||||||||||||||||||||||
| Typical cost of flights: | Peak | Off Peak | ||||||||||||||||||||||||||||||||||||||||||
| 170 – 350GBP | 140 GBP – 190 GBP | |||||||||||||||||||||||||||||||||||||||||||
| Operators: | Turkish airlines, British Airways, Thomson, air 2000, excel airways | |||||||||||||||||||||||||||||||||||||||||||
| Description: | Fethiye is an ancient Lycian town with relics dating back to the 4th century BC and is reputed to have been visited by Alexander the Great. Set against the magnificent backdrop of the Taurus Mountains and surrounded by a beautiful, island-strewn bay, Fethiye is a lively port and market town where Turkish life and tourism exist side by side The high inflation rate can only work in your favour as yields will only increase as wages increase thus increasing rental values. Yields are at a good starting point so increases on these will be most welcome. Tenant demand is strong and the likelihood of resale is high as there is a ready market for properties in this area. | |||||||||||||||||||||||||||||||||||||||||||
| Hot Website: | www.caroletayfun.com/turkey/fethiye/ | |||||||||||||||||||||||||||||||||||||||||||
| Estate Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||
| Property-turkey | info@property-turkey.co.uk www.property-turkey.co.uk | |||||||||||||||||||||||||||||||||||||||||||
| Apple Real Estate | Ölüdeniz / Fethiye 48300 Turkey | +90 252 617 07 77 | www.appleestate.co.uk | |||||||||||||||||||||||||||||||||||||||||
| Taurean properties | Baris manco bulvari, Calis beach, Fethiye, Turkey | + 90 252 613 2377 | www.taureanproperties.co.uk | |||||||||||||||||||||||||||||||||||||||||
| Soestates Estate Agents | Ataturk Cad.no:20, Fethiye, Turkey, Europe | + 90 252 6 144 452 | http://www.soestates.com/ | |||||||||||||||||||||||||||||||||||||||||
| Letting Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||
| Soestates Estate Agents | Ataturk Cad.no:20, Fethiye, Turkey, Europe | + 90 252 6 144 452 | http://www.soestates.com/ | |||||||||||||||||||||||||||||||||||||||||
| Apple Real Estate | Ölüdeniz / Fethiye 48300 Turkey | +90 252 617 07 77 | www.appleestate.co.uk | |||||||||||||||||||||||||||||||||||||||||