Property: Homesgofast reports that the Varyap Meridien 'green' residential complex has won the 2009 International Property Awards for the best real estate project and best high rise building in Europe. The complex, which is eco friendly has some 1500 units together with a top notch hotel and 90% green spaces. Meeting modern expectations and norms, the project will comply with strict critera for sustainable property and is looking to cut energy consumption on the complex by 60% over normal residential complexes. Solar power and rainwater recycling are involved. The group are also looking to the future saying that they hope to eventually construct buildings to generate their own energy, believing that these kind of standards will become the norm.The five star hotel at Varyap Meridian will be 38 floors high and is aimed mainly at business travellers. The hotel is due to open in 2011. Of the first phase of residential units, 80% have already been sold, with prices from 188,000 liras for studios and 800,000 for four bedrooms.
Bank rates: The Turkish Central Bank cut its overnight borrowing rate recently from 8.25% to 7.75% with an indication that interest rates may well fall further soon to help boost the economy. This is the tenth rate cut since October/ November 2008. The bank anticipates inflation to remain low over the long term and indicate that the recovery will be slow.
Transferring Money to or from Turkey: The Post Office has launched a new service for those moving money overseas, with 0% commission, competitive exchange rates and no hidden fees. Buyers of Turkish property can get a fixed exchange rate for up to a year, giving them peace of mind and ensuring they do not lose out drastically if exchange rates move against them. If you are an expatriate in Turkey, then with the Post Office you can make fast and secure regular payments which could save 100's a year. Even if the destination bank imposes charges, the Post Office will reimburse these to customers!The service is available online so you can do everything from the comfort of your armchair. The Post Office says that the service is ideal for
- repayments on a foreign mortgage
- bringing money back to the UK after the sale of an overseas property
- deposits and costs associated with buying, selling or maintaining overseas property, including bills such as electric and water
- regular payments, for example, pensions
For more about overseas money transfer via the Post Office, then visit their internet site at www.postoffice.co.uk/moneytransfers
