Month: June 2019

On The New Mortgage Law Of Turkey

Since the new Turkish mortgage law passed on March 2007, the mortgage and real estate markets have continued their growing trends that are mainly driven by lower interest rates; however, this growth is probably just the tip of the iceberg.

The Turkish mortgage law that passed on March 2007 has two important properties that are expected to boom the mortgage and real estate markets in Turkey:

1) New mortgage products :
With the inclusion of the adjustable rate mortgage products, banks are able to transfer some of the economy related risks in their balance sheets to borrowers. In adjustable rate mortgage products, the interest rate is a sum of a fixed margin that is determined by the lender and a benchmark index that is set by Central Bank of Turkey. In May 2007, central bank decided that Consumer Price Index should be the benchmark index for the variable interest rate calculation. In summer of 2007, some banks started to offer various adjustable rate mortgages and these loans, as expected have lower APRs. However, as Central bank’s current records show there is almost no interest in these variable interest loans right now. This lack of interest is probably due to several factors such as: i) the lack of trust in Turkish economy and the fear of a substantial increase in the interest rates even though the economy has been performing fine in the last 5 years without any major crisis; ii) the recent mortgage crisis in the USA, and particularly, the rise in mortgage default rates in the USA and the fact that most of the increases in the defaults were in the sub prime market and adjustable rate mortgages; and, iii) the lack of understanding of the benefits and risks of these new products. We believe that these three reasons are temporary and in the near future, as people are educated about the risks and benefits of these new products and mortgage brokers fill the necessary knowledge gap, the interest in the products will increase.

2) Securitization of Loans :
About six months after the new mortgage law passed, Capital Markets Board of Turkey completed secondary legislations on mortgage covered bonds and mortgage backed securities. With this addition to the law, banks are now able to bundle the loans into securities and take them off their balance sheets. Covered mortgage bonds and mortgage backed securities are debt instruments secured by a covered pool of mortgage loans (or public-sector debt) to which investors have a preferential claim in case of default. These instruments are among the most liquid fixed income securities after the government bonds in Europe. While it is not expected to see the first securitization until early 2008, reduced risk for the banks will cause a significant and sustainable growth in the mortgage market in the coming years.

Expectations for the future

a)The secondary mortgage market will probably trigger a decrease in the interest rates as banks will be able to transfer their risks off their balance sheets and the ratings of the deals in the secondary mortgage market could be higher than Turkey’s sub-investment grade sovereign rating (this has been the case in similar cases).

b)With the secondary mortgage market’s effects, the banks’ competition growth will fuel an already booming housing market. Especially, when the monthly interest rates get closer to 1 percent per month, the volumes will be substantial, as they were earlier. Expected growth in the mortgage market is expected to mimic those in Spain and South Korea as these countries have followed similar paths as Turkey. Sizes of the mortgage market in Spain and South Korea GDP are 50 and 25 percent of the GDP respectively. So it is not inconceivable to expect that Turkey’s mortgage market may grow up to 30% to %40 percent of the GDP from its current share of less than 10%. Note that since Turkey has a very strong ownership culture, the ratio can be even higher.

c)Turkey’s new long term mortgage laws will increase the investment in Turkey. The new instruments that will be introduced with the securitized mortgages will increase the stability and depth of the financial system probably creating a natural cushion for any unexpected events and decreasing the volatility and avoiding the episodes of financial crises that were observed in 2001 and 1994.

d) Enhanced foreign investment in the property market will cause a boom in the property market. Also in addition to real estate market, as mortgages will need associated insurance, it is expected that insurance sector will be a big beneficiary of the new mortgage law.

e) The central bank will have more dominant place in the economy similar to the developed countries.

f)New law will help strengthen Turkey’s EU bid. The Turkish mortgage law will bring Turkey into line with the standards and practices expected from worldwide property purchasers and investors.

In addition to the tangible effects listed above, we expect that there will be very important intangible effects too. For example, in a country like Turkey where ‘future planning’ is measured with months (mostly because of the economic, financial and political crises), just the fact that people are now able to get a loan up to 30 years is an encouraging incident that will probably change the way people plan, invest, spend and save in the future. Since being able to plan for the future is one of the most important requirements of economic development, the additional foresight produced by the new mortgage law may be one of the biggest impacts of the new mortgage law in the long run.

How National Trends in Luxury Real Estate are Impacting Orange County

Recent coverage of the luxury market at events like the National Association of Real Estate Editors conference has highlighted the market’s strong resurgence and steady sales. In fact, statistics from the National Association of Realtors suggest that the luxury market is rebounding from the recession faster that middle market and lower-end properties. All signals point to great news for luxury owners that may be considering a property sale in the near future. If you are contemplating listing a luxury property in the Orange County area, what you learn may surprise you.

What is considered a luxury property is changing: Today, a luxury property in many metropolitan areas begins at about the $4 million dollar price point or more than 3500 square feet of space. In more rural areas, the price point for what is considered a luxury property starts around the $500,000 mark. There is further differentiation regionally and even on a town by town basis. In competitive markets such as Orange County, the prices may be higher than anticipated.

Practical features are coming at a premium: When people are contemplating buying a luxury property, they typically ask fairly standardized questions about luxury amenities. Is the kitchen gourmet? Does the house feature a stunning view? But more and more, luxury Realtors are seeing the importance of what can only be dubbed -practical features.- For example, generators are one key trend throughout the country as more areas are affected by hurricanes, storms, and other inclement weather. More concern has also been show about factors such as privacy, safety, and exterior builds to protect cars and other possessions during weather events. Buyers still want traditional luxury amenities, but it is important that safety and emergency infrastructure has also been addressed at the property level.

Luxury townhomes and condominiums are on the rise nationally: A recent piece in the New York Times highlighted the trend of the growing luxury condominium market. While the piece focuses on the New York market, it underscores a trend that is taking hold nationally. More and more people are looking for luxury-level accommodations with the benefits and flexibility of condominium living. Some luxury home owners are even evaluating whether or not their homes can be divided and sold as condos to maximize profits. The success of this approach depends greatly on the home’s location, zoning laws and overall layout and design.

Lifestyle features are playing an increasing role: Another trend that has been noted is the importance of lifestyle features in luxury property purchases. Lifestyle features could be as simple an inside/outside design that allows more flow between a home’s interior and exterior spaces. In other cases, it is more specific to aspects like waterfront or riverfront property. Many buyers are also looking at factors such as golf course access, high end club houses, and other luxury community amenities.

Non-traditional buyers are entering the pool: While the prospective pool of buyers for luxury properties is more limited than for mid-tier homes, there’s been an increasing diversification within the luxury market. Many owners are finding offers coming from buyers that contemplate transforming the space into retreat centers, upscale boarding schools, and even wineries, thus opening up advertising opportunities for Realtors and owners alike with truly unique properties.

The luxury market is thriving in areas of the country such as Orange County. Staying on top of trends helps sellers to make the right decisions regarding their properties. The first step in the sales process is finding an experienced luxury real estate agent that understands your local market and can guide you through the process.

Bptp Discovery Park Sector 80 Faridabad Is The Latest Residential Property In Faridabad

BPTP Discovery Park is a new residential property for sale at sector 80 in Faridabad. Aimed at providing the highest standards of living in the most affordable packages, BPTP Discovery Park offers four different options of 2 and 3 BHK apartments for sale in Faridabad.

The extremely spacious have been set up over an area ranging between 11290 and 2440 sq. ft, and have been priced affordably between Rs. 29 and 61 lakhs, depending upon the type and size of the property one chooses to book.

If you are an individual who wishes to invest in residential property in Faridabad, we at Unicon property can help you in booking a flat at Discovery Park with our exclusive Zero Brokerage services.

BPTP Discovery Park is specially designed keeping in mind the needs and requirements of youngsters. This exclusive residential property in Faridabad focuses on the healthy development of children, and comes adorned with several amazing features for the same.

BPTP Discovery Park offers amenities like a swimming pool with separate splash pool for kids, a rock climbing structure and tennis as well as badminton courts in order to facilitate the healthy upbringing of children. Some others of the comforts and conveniences include gated community with 24*7 security surveillance, club house, shopping arcade, jogging tracks, parks and play area with landscaped greens and an earthquake resistant structure.

Apart from these highlights, BPTP Discovery Park also enjoys all the benefits of being situated on a prime location at sector 80 in Faridabad. The property is well connected to all major points of business as well as recreational interest in Delhi NCR via a wide 60-metre road that is located right next to the property. With all these advantages and the high dependability of a developer as well established as BPTP, Discovery Park is sure to be a highly successful residential property in Faridabad.

Pros And Cons Of Condominium Complexes

According to many experts, condominiums have become one of the most popular types of housing in the Philippines. Part of what made this popular is because of its many benefits, particularly among the Filipinos looking for refuge in the city, such as in business and commercial districts.

Today, because of the growth of condo Philippines, a number of new condominiums were introduced in the country, and one of them are condominium complexes. These types of condominiums, according to many experts, offers a different set of benefits compared to the typical condominium found in the city. So what are its benefits and advantages?

Condominium complexes: Pros and cons

Pros Condominium complexes are similar to townhouse complexes, which is a type of townhouse popular in many Asian countries, particularly in Hong Kong. Similar to townhouse complexes, condominium complexes are also mostly found in a wide expanse of land, mostly in the outskirts while some are also found in provincial areas.

Because of its location, which is very different with its predecessors, these types of condo Philippines are known to provide a different benefit for different needs. One is that these types of condominiums are more suitable to Filipino families compared to the usual executives living in a city condo.

Another similarity with townhouse complexes are its amenities such as swimming pools, gyms, sport complexes, recreational parks and playgrounds. These amenities further adds to condominium complexes’ family-oriented atmosphere.

Cons There are, however, several disadvantages to living in a condominium complex. One is also because of its location. These types of condominiums are appropriate for a growing Filipino family, but for those working in around the clock and the non-married people, these types of condominiums may not be appropriate for their needs.

Another is its expensiveness. Similar to condominiums in the city, these types of condo Philippines are also known for its expensiveness. Condo fees are also an issue, which is also one of the few disadvantages for all condominiums. These fees are mostly used for the maintenance for all their facilities, particularly for its amenities. According to many Filipinos, the more facilities found in the condo, the higher its fees. For more information visit to our site at http://www.avidaland.com

Applying For A Home In Olive County Vasundhara Becomes Easy

After battling a prolonged battle with liquidity crisis, real estate scene of Indian economy is finally, after fighting against all odds, is resurging back. What more, with the onset of festive season in India, chances of a complete resurgence are looking extremely strong.

Festive season unlike last year, is expected to bring smiles to the face of prospective real estate property buyers of Indian origin. Reason, interest rates are on all time lows and sellers ie developers have realised the fact that selling properties at any price will not be doing any goods to them since, the customers are not ready to buy it. Developments like these clearly suggest that it will be definitely interesting to watch the scene at real estate Delhi/NCR hot up. Purely because of the fact that in recent times there have been plenty of low interest rate loan products coupled with attractive side-on and complimentary offers from various financing industries including banks themselves, which are promising to facilitate the buyout options of people interested in buying themselves any residential plot across the country.

With handy finance options available just at the click of mouse, it looks like that people have realised that and the same thing is certainly preventing developers from quoting exceptionally high prices. With liquidity crisis in its last stages, real estate developers in India are not taking any chances and are mainly focussed to repair their dented balance-sheets and financial statements. With many projects in real estate Delhi/NCR region already stalled, this is looking like one practice that can benefit both buyers as well as sellers.

To add more to it, a significant drop in the number of projects announced (to be launched) too have been observed. However, many projects such as Olive County Vasundhara have successfully despised the ill-effects of recession and are continuing to be at the top of buyers’ list.

The prime reason of Olive County Vasundhara project’s success is its location. Away from the polluted & chaotic environment, the dream paradise is situated in Ghaziabad (which some time back was crowned ‘sixth most dynamic city in the world’), a place inhabited by lush-green pastures and sufficient wide space to breathe in fresh air. Luxurious yet affordable, the plots and flats available under this project never give an impression that its buyer has shelled out a fortune to own one.

Speaking of its other interesting aspects, Olive County Vasundhara is just a touching distance away from NH-24 and capital of country, Delhi. That is not all with a Metro-Railway station to soon come up in Vaishali, shuttling woes between Delhi-Vasundhara are nearing their end. However, till then residents of the county have made it a point to hit the nearby Dilshad-Garden metro station for moving in and out of Delhi in the least time possible.

That is not all following the success of projects in Vasundhara landscapes, more and more developers are battling it out to buy a piece of land. Already Olive County has created a history after posting success at time when most other projects failed to take-off completely and fell flat.

Certainly real estate Delhi/NCR is a region to look forward in upcoming festive season.

Investors Clinic Noida- Perfect For Real Estate Investment

Investors Clinic is an ISO 9001:2000 certified company which is serving big names and has an impressive clientele from all over the globe. Investors Clinic was created to assist real estate professionals in reframing their focus as real estate consultants to better meet the needs of today’s savvy consumer.

With consumer-focused training tools and the highly professional staff, Investors Clinic analyzes the consumer”s needs and delivery time and provides cost-effective result-based solutions. At investors Clinic, all your property needs are met whether it is industrial, commercial, and residential or farm land. Investors Clinic integrates local market knowledge and global expertise to deliver Real Estate Advisory Services to corporations, governments, investors and property owners.Some of the prestigious clients with them are Bajaj Alianz, Bank of Tokyo, Godrej, HCL, kotak, LG, Panasonic, Pepsi, Sony, ST, VSNL, Xansa. Investors Clinic provides efficient and effective solutions to all property requirements of their clients. Investors Clinic has carved a name for itself in the real estate industry as they strongly work for the satisfaction of their customers.

They cater to numerous national and international clients belonging to various business domains. As a real estate company they have been redefining the standards of real estate and with years of experience in their kitty due to which they can offer a wide range of services to fulfill all client”s needs. It is utmost in the mind at Investors Clinic to understand the customers financial requirements which is a major positive for any customer. They have already served Various premium corporate houses in both domestic and international arena and possess more than 2 years of collective experience in this industry.

The Investors Clinic team holds an expertise in making your money work for you and are masters in managing your investment portfolio. Their motto is to provide customer satisfaction at any cost (WEALTH MAKES YOUR HEALTH, YOU DREAM AND WE DO IT). They provide the best of services in unison with the best competitive price. Some of the projects on hand at Investors Clinic are Paras Tierea, Princely Estate, Lotus Panache, Amrapali Smart City , Supertech Eco Village , BPTP Capital City and so on. So come down to Investors Clinic- Your one stop shop for all your property needs.