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| Purchase price correction has already been covered in earlier articles but I find it useful to repeat it here once more. What happens if you already misrepresented the price and now regret doing so? Is there a solution? Yes, there is. A decree released by the Ministry of Finance enables the parties to declare the real purchase price of the property and pay the remaining balance of the levy to be calculated on the real purchase price with a 3 percent (per month) interest rate added to it. For sellers who regret declaring a low value, I suggest they see their lawyer to negotiate with the tax authorities. |
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| In many articles we have tried to shed some light on the aspects of investing in Turkey from the position of buying a property. Now, it seems that it is a good time to write a couple of articles from the foreign seller's point of view. There are several issues to be discussed when looking from the seller's side. The first thing on my agenda is the issue of tax. |
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| Hilton Hotels Corporation has revealed that Turkey is its most successful international development market with the international hotel chain set to double its Turkish estate over the next 2 years, following the signing of 11 new hotel contracts in 10 months. “We have made no secret of our ambitions to expand rapidly in Turkey and make a significant impact on the Turkish hotel market in a relatively short space of time,” explains Patrick Fitzgibbon, Vice President Development, Europe & Africa at Hilton Hotels Corporation. The company has earmarked Turkey as a key market for growth and intends to open 40 hotels over the next five years. Altinkum Didim Today |
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| Cruises are one the fastest expanding tourism sectors in Europe, with a record four million Europeans taking a cruise holiday in 2007. To increase its share of this market, a series of modern cruise liner terminals have been developed along the Turkish coast. The country’s largest is in the Aegean resort of Kusadasi, with an estimated 700,000 tourists passing through its $20 million terminal in 2007 on their way to the nearby Roman city of Ephesus and other local tourist attractions. Istanbul, Dikili, Izmir, Bodrum and Antalya - which is to undergo a £3 million expansion- are other popular ports-of-call on the Mediterranean, Aegean and Black Sea cruise circuits. Altinkum Didim Today |
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| If you are looking for an ideal place to buy a property for family holidays in the sun, Turkey ticks all the right boxes. Knocking Spain off the top spot, the Mediterranean country was the UK’s package destination of choice in 2008, according to figures from the Turkish Ministry of Tourism and Culture and the Association of British Travel Agemts, with over 1 million British visitors, many of them families. So why is Turkey so popular and which are the best areas for families to buy their own a property in the sun? The biggest draw for most sun-starved Brits is the country’s sunshine and blue skies, with great weather guaranteed throughout the long summer. Altinkum Didim Today News |
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| The Hilton Hotel Corporation has announced a €100 million franchise agreement which will see the creation of an up-market golf and spa resort near Dalaman, a rapidly developing tourist area on Turkey’s Mediterranean coast. The 384-room Hilton Dalaman Golf Resort & Spa, located on the Blue Flag-awarded beach at Sarigerme, will open at the end of 2009 and boast its own spa complex and 18-hole golf course. “This announcement will be a major boost for the property market in Dalaman, with the area’s developing tourism infrastructure, including this international golf resort, having a very positive affect on local demand and property values,” says Dominic Whiting, editor of the Buying in Turkey guide. |
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| Spain has long been the nation’s favourite overseas property destination, with easy accessibility from British airports and an appealing climate; it’s easy to see why Britons have been keen to invest their cash in Spanish properties. However, with the high house prices in Spain (the average house price sits around Euro 240,000 according to kyero.com) and the current weakness of the Pound against the Euro, Turkey is now stepping into Spain’s shoes as the destination of choice for overseas property purchasers. This trend has been reflected in this year’s tourist season, with figures from the Turkish Tourist Office and the Association of British Travel Agents showing Turkey as the most popular destination for British holidaymakers this year. |
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| Ten years ago you could be forgiven if Turkey didn’t spring to mind when thinking about great golf destinations. Yet 2008 saw the country crowned ‘Best Golf Destination of the Year in Europe’ by the International Association of Golf Tour Operators (IAGTO). Sitting outside the Euro-zone and only a short flight from the UK, astute players are now realising that world- class golf in the Mediterranean doesn’t just mean Spain and Portugal. With the construction of international class courses well underway and more planned, Turkey really is golf’s next big thing. The Turkish Golf Federation has ambitious plans for 100 courses nationwide in the next 15 years, up from just 17 today. Altinkum Didim Today News |
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| Recently released figures from the Office of National Statistics reveal that an unprecedented number of Britons are leaving the UK to start a new life abroad. Economic uncertainly, the rising cost of living and the fear of crime are common factors encouraging what has been dubbed the largest mass exodus in the last 50 years, with up to 4,000 people emigrating each month. Altinkum Didim Today News |
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| If a landlord rents out his home and earns rental income of more than YTL 2,400 per year, then the income of the landlord is subject to rental income tax. However, 25 percent of the remainder, after deducting YTL 2,400 from the yearly rental income, may be deducted from taxable rental income for maintenance expenses, if any. This rule applies to residential properties that are rented to individuals. If the property is rented for commercial purposes, then the income is subject to rental income tax regardless of the amount. Therefore, if you earn rental income, you are required to declare your annual rental income to the tax office. Online services are available for making this declaration. Altinkum Didim Today News |
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Icmeler Turkish beach resort
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