Author Topic: Is it time to sell up?  (Read 15157 times)

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Offline Anne

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Is it time to sell up?
« on: August 27, 2014, 19:08:16 PM »
For the past year I have become increasingly uneasy about owning our place in Calis.
I wonder where and when all this change will end, and if PM Erdogan gets his way will we be left with a worthless apartment?
By worthless I mean unable to sell it or if we do keep it for a bit longer, be forced to sell at a much reduced rate.
I'd be interested to hear other owners views on this
« Last Edit: August 27, 2014, 22:01:54 PM by Anne »



Offline BernieTeyze

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Re: Is it time to sell up?
« Reply #1 on: August 27, 2014, 19:14:19 PM »
Yes..I am, hopefully leaving with my apartment sold. :-[
It,s a bit scarey how quickly things can change here. Like you I don,t want to wait to find out We have left it too late to rebuild our lives back home.

Offline patrice

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Re: Is it time to sell up?
« Reply #2 on: August 27, 2014, 19:40:07 PM »
I have just had this conversation with my husband we have had our apartment for 9 years but lately like you Anne I have been feeling very uneasy with the way things seem to be  heading  :-\

Offline apollo

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Re: Is it time to sell up?
« Reply #3 on: August 27, 2014, 20:21:52 PM »
Hang on and enjoy the ride. It's only money!

Offline JohnF

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Re: Is it time to sell up?
« Reply #4 on: August 27, 2014, 20:23:18 PM »
Yes..I am, hopefully leaving with my apartment sold. :-[

I don't mean (or want) to be rude, but in the grand scheme of things you've only been here five minutes, didn't do your research properly (as far as I can see from here) and now decided you don't like it.  Which is allowed, and I hope things work out for you when you go back.

Anne - you need to remember that this is Turkey and things can turn on their head in the space of a weekend.  The next year or so will be interesting and whatever the outcome there will still be a tourist industry in the south and south west of the country - way too much money invested by folks with influence and positions of power (irrespective of governing party) for it to disappear. 

The demographics of the tourists may change, but places like Fethiye, Alanya, Altinkum etc will probably not change that much to the casual visitor.  I call it the Fethiye bubble effect, doesn't matter what happens in Istanbul, Ankara or the Borsa, main topic is the price of Efes or who does the best fillet steak - ok, that's maybe an over generalisation but its not a million miles away from many folks attitude.

Even if there is a massive shift to tourists from the east, GBP and EUR tourists still bring much needed (hard) foreign currency into the country, as do all the airline and package operators.  They couldn't plug the gap that with USD's from Iran, Kuwait etc.

That's a short term (sort of) prognosis and purely my opinion.

Longer term...  who knows.  Folks complain (myself included) about AK party, but hey, the CHP have a whole different viewpoint regarding foreigners and if they managed to get into a position of power who knows what they would do.  We don't have a strong army now who used to be relied on to keep extremists in check.  Some say the solution is another coalition but that's what put TR in the sh1t economic position it was in during the eighties and nineties - nobody could agree so phuck all got done. 

I do think if you're in it for the long haul then its a case of sitting tight and just letting the politicians get on with it.  My better half lived and worked in Istanbul through two coup's, and the only real issue for foreigners was the rampant inflation - mind you, the government wasn't quite as overtly pious in those days!

However, if you think that at some point in the near future you may want to sell a property, and are reliant on getting a good price for it for pension pot or whatever, then I'd be paying plenty of attention to whats going on politically and financially in Ankara - and keeping an eye on the local property market.

Personally, we've sold up bar our place in Karagözler and moved the bulk of our money out of TL.  But in some respects we're also in it for the long haul with that property, I like it too much as do our girls to consider selling just now.  Fethiye would have to be dry and the girls hijabed up before we'd consider bailing!

Bottom line is that only you can decide when to stick, twist or fold...

JF



Offline BernieTeyze

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Re: Is it time to sell up?
« Reply #5 on: August 27, 2014, 21:04:20 PM »
No offence taken I agree with what you have said John.   :)

Offline kayakebab

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Re: Is it time to sell up?
« Reply #6 on: August 27, 2014, 21:16:20 PM »
I'm not going anywhere unless I really really have to!

Offline Dutchie

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Is it time to sell up?
« Reply #7 on: August 27, 2014, 21:20:16 PM »
We are looking into leaving. As a matter of fact, this winter we will be doing a "trial run" in a different country to see whether we could live there.

We're not leaving because of financial reasons but because we don't believe in the new Turkey of 2023. Last week 7.000 school principals were fired and are being replaced by RTE's puppets. We don't want out daughter learning that she is not allowed to laugh in public or that she should be at home, looking after her husband.

If we decide to leave, we will sell our property. I don't expect any problems with that since it is a typical "Turkish" house. Not a holiday home.

I don't agree with Slikmrs saying that it is scary how things can change quickly. To me it is the opposite...it is scary how things are NOT changing. The direction in which Turkey is moving has been going on for a while. Every time I thought or actually hoped that the process would be stopped. RTE being elected as president and the new Turkey of 2023 made us decide to look into moving. I have been here 17 years and used to love this country but that is changing unfortunately.

Offline Ian

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Re: Is it time to sell up?
« Reply #8 on: August 27, 2014, 21:21:37 PM »
Very astute summary from start to finish JF :-)

Offline Anne

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Re: Is it time to sell up?
« Reply #9 on: August 27, 2014, 22:01:06 PM »
You beat me to it Ian.
Thanks for the informative response John.




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