Optimism of Cameron was remarkable. His observation of human feelings was appreciable. Thanks for giving insights of Istanbul regarding all facets.keep up quality work. All the success.
As salamu alaikum- I am a native New Yorker, who purchased an apartment in Mudanya (for personal use) Via Property Turkey - “work work work” - “I wish I was somewhere else” is a common sentiment here in NY. Visited Türkiye on many occasions and the people in Türkiye appear happier than my fellow New Yorkers.
You don´t know what you are talking about. especially in Istnabul people are super unhappy. You hardly see anybody smiling, except kids. Live is unbelieveable hard for Turkish people. and it really sucks that expats and tourists seem not to understand that. Don´t you see how much they struggle to surive this big inflation? When I hear toruists saying "oh everthing is so cheap in Turkiye" I could vomit. Open your eyes. Everyday the prices change now in the supermarkets. every evening the staff is changing the price labels at the shelves. The food prices are unbelieveable high. Maybe the stupid toruists and expats don´t know how low the salaries are in Turkiye. For example.... while I have to work for some food products in Turkiye 6 hours, I need to work only 20 minutes for them in Skandinavia or Germany. That means the price is 18 times higher for that products in Turkiye. And whild the prices for public tranpsort in Germany raises around 5 to 10% in a year it nearly doubles in Turkiye. when I arrived less than two years ago in Istnabul a monthly ticket cost 275 Lira, now it costs 602. And I am sure by the end of the year it will cost around 800 Lira. People are very unhappy and frustrated, and they express that daily. Maybe you shouldn´t hang around in toruist areas, where everybody has to smile to earn money in tourism. Go and see the real life in Istanbul in the authentic areas, and see how hard people work to feed their families. And how many don´t have jobs.
@@evelynmiriam5386 you’ve done a lot of assuming and you are very angry and you are misdirecting your anger. Plus you don’t know me. If you read my post you would see that I am not talking about the tourist areas. Additionally, my comparison has nothing to do with $$$. It has to do with the Turkish people over all. Learn to speak without assuming and offending. Education is key.
@@evelynmiriam5386 Don't blame the tourists, expats or residency seekers. We invest our UK, Pakistani, German dollars into Turkiye. We make our money outside and spend it in Turkiye. You should try and smile more. In the UK, you think we don't have a shit time? Do you know how much things cost like food, electricity, transport, etc etc. Inflation is everywhere. We have seen our electric and gas prices go up 40% and they are expect to go to 100% in 4 months time. Petrol is up 80% in the last 8 months. Food is up 35% House prices are ridicoulous. For me to take the underground to work it cost $14 a day. The whole world relies on fiat currency, and now its going to go wrong. Trust me when i say this, it will get much much worse. You need to look outside istanbul. It is not good for your mental health if the quality of your life is so shit. It's better to be happy and live on a farm, loving your children watching them grow, then to be in a stressed out city.
Why don't you just confess that low interest rates + slowed construction & increased construction material cost (due to pandemic) triggered this insane property price growth in Turkey. No economic reason for the prices to grow at this pace.
Can you please do a show about new transportation stations like Metro, ferry,metro bus etc that are currently being built around Istanbul and how they will reduce commute time to Istanbul
Problem with property in Turkey is the price to rent ratio. Unless it's for the super wealthy, I have a hard time finding a property that will bring in decent rent. Worse yet is the plummeting lira, making rent cheaper on the dollar year by year. Lots of pros to owning a property in Turkey but plenty of cons too
It is a very important metric, although I dont plan to give out for rent, but it show whether the property prices are overvalued.. What sort of ratio did you find?
If you rent it on airbnb you can charge the customers using dollars so in this aspect you're a good and I have people I know who do that and make a killing during the summer we are talking about 1k a month. If you rent it annually for a turk you'll be getting around 300$ as for the inflation and devaluation you can put a Clause that will put the inflation into consideration.
Excellent interview/discussion. Aladdin,you can’t win with Cameron,he always produces a Rabbit out of a Hat.😂 my eyes and ears were glued on my I-pad. Thoroughly enjoyed it.
If you are a seller, you would not be happy when prices fall. If you are a buyer, you would be happy when prices fall. That is for stating the obvious but I am just reacting to your statement that there is no pleasing us Depending on whether you are a buyer or a seller, you would be happy on one of those outcomes.
What’s going on guys!a lot of changes in the issuance of residence permit by virtue of buying of real estate. Now a ceiling is imposed.And tourist visa is no longer renewed.Any reason for that?
What’s the point to sell properties to foreigners ? Your government is not allowing TRC and STRP to foreigners. The behaviour of Göç idarsi employees is worse with non-turks. It’s a humble request to all of you spread this msg to official’s that’s respect the investors or else just announce officially you don’t need foreigners in turkey .
Cameron is right, who would want to live in New York or London, I wouldn't for sure. I would consider living in Istanbul in a heart beat. The gap between these cities and Istanbul is closing as time passes by.
Great analysis; many parameters to consider regarding the real estate market in Istanbul. Good governance, transparency, organic growth are all important factors in securing long term and sustentable growth in real estate; otherwise, we are speaking of only opportunistic investment!
Discovering Istanbul, and it's potential, is like discovering Messi playing for his first club - Newell's Old Boys; you see his abilities and you know he'll do good job for you.
No matter how you both try to put it, the real estate bust is coming , in fact it started already in Toronto. Inflation is everywhere plus lack of goods etc including food items and it’s not going to get any better. I’m going again to Turkeye, end of summer to look around before I buy . It’s better that way as I have only 100k to spend on real estate there.
True people are happy in turkey but they are worried and in distress not to all of them but to most of them I have family there I was just there for three months it’s not the same as two years ago yes real estate has gone up the cost of living is 300% to 400% wages only up 50% The Turkish lira is down 600% from two years ago
In one of your last videos, Cameron Diggins warned against buying property in Belikduzu/Esenyurt/Buyukcekmece area due to potential supply surpassing demand. Now based on the scribblings of Mr. Diggins from this Episode, is it safe to say that some of this supply shortage in Istanbul is being met in these areas mentioned above? and that some of the demand from other parts of Istanbul will shift to these areas? considering numerous infrastructural development happening in Istanbul.
The real estate market has many variables. Perhaps a certain area is desirable now and after a certain period. It may not be suitable for investment purposes, but it meets the purpose of a certain lifestyle that suits certain people. By the end of the day it come down to what you need or want now, and for what purposes. So, you need to calculate the variables and which ones are the best for you. Thanks for Commenting.
American politicians do same here .they buy Realestste in the area where they first hand knowledge of new development and then they get agents to promote that area and so you guys doing same nothing. Out of ordinary
Rule number 1 : Never blindly trust a salesperson to get an objective analysis. These people have a vested interest to earn commissions and sell their properties. They may or may not be right. They are not economists. They are a business and therefore salespersons, and everything they say is deemed to be biased. Having said that, they are quite in depth, seem genuine, but may be out of touch with the economic ground realities (common amongst millionaires). They also cannot speak the real reason why people might not want to invest in Turkey or refrain from doing so (AKP, Ukraine crisis, Refugee crisis, and other non-diplomatic policy, poor women's right, crashing lira, bas economic policies, crackdown on freedom of speech, etc). This, they cannot talk about because of legal as well as business reasons. Turkey's poor economic policies have already caused a lot of damage, plus now there is a oncoming and somewhat ongoing recession, plus there is regional conflicts on all sides (with Greece, Syria, as well as a whole new out of control situation with Ukraine). These are not debatable. Previously, Cameron has said things like, and forgive me for a poor paraphrasing "Who says people don't have money in Turkey? Go outside to a fancy restaurant and it is completely booked." This is how disconnected he might be from the ground reality. Anyone who invested in 2021 and before must sell and take their 30-40 percent or more profits, which is super good, the rest should wait for atleast 2 more years for clarity. You may pay lesser or higher, but at least you will sleep peacefully. If you are impatient, then wait for the elections, and decide after 2-3 months of the 2023 presidential elections. There is a housing bubble, this is a real phenomenon, and everyone must read up on the topic and understand the economics of it and make an informed decision. Do not FOMO into the markets whatsoever just because two rich dudes got you excited to sell you their properties at a profit. They are essentially dumping on you. Why don't they buy if the optimism is so high? Why would they sell anything? Because there is a risk and they are mitigating it through your money. You are their hedge against the Global economic crisis, regional instability, other geo-political issues, and Turkish economic crisis.
Be aware please do buy Realestste in Turkey to make any passive income absolutely pathetic rerun on investment,I owned 3 apartments and rental income s less than 1 percent so please only buy for self use .
Well if you bought three cheap apartment faaaar away from the center. Please tell me where are the three apartments you bought. If you have an apartment near mall of Istanbul or venecia or the center you can easily make 7% rental yield. Btw I am talking from experience those apartments get 1k$ a month during the summer.
How authentic is the data is debatable. The turkey real estate is bullish where prices doubled ever few months. The inflation is turkey is 80% comparatively to other cities average 10%
Turkish government has caused it too - like London too - you promote people from other countries bring money in yor country -- well, they do. where do you expect they invest? homes, apt... it is natural prices gos up - and it goes up for your own citizens....
Property prices going up is one thing. It's a totally different story if the currency is depreciating as such a high rate, while inflation is rising. Those are caused by government corruptions
Please comment on Besiktas real estate records office, and perhaps others, now blanket rejecting ALL Apostilled Power of Attorney documents from the US. They are claiming that because they don't have "live" or "wet" signatures, they are no good.
The median household income in New York City is $58k and the Median price of real estate is $770k, median price per sq ft is $927, a +16% change YoY, you may confirm my numbers using google, New York is the biggest financial center in the world and London is in second place.
Exactly, even though I would love to live in Istanbul but mainly for different reasons than cost of real estate . I’d only buy a place to live in Turkey. Language is the biggest and most irritating problem. I’d live in NY or UK at the drop of a hat, if I could but I’m in Toronto now which I love too .
Optimism of Cameron was remarkable.
His observation of human feelings was appreciable.
Thanks for giving insights of Istanbul regarding all facets.keep up quality work.
All the success.
I am so firmly agree with Mr. Cameron! HE SAYS SO GREAT TRUTH!
Thanks for feedback
As salamu alaikum- I am a native New Yorker, who purchased an apartment in Mudanya (for personal use) Via Property Turkey - “work work work” - “I wish I was somewhere else” is a common sentiment here in NY. Visited Türkiye on many occasions and the people in Türkiye appear happier than my fellow New Yorkers.
You don´t know what you are talking about. especially in Istnabul people are super unhappy. You hardly see anybody smiling, except kids. Live is unbelieveable hard for Turkish people. and it really sucks that expats and tourists seem not to understand that. Don´t you see how much they struggle to surive this big inflation? When I hear toruists saying "oh everthing is so cheap in Turkiye" I could vomit. Open your eyes. Everyday the prices change now in the supermarkets. every evening the staff is changing the price labels at the shelves. The food prices are unbelieveable high. Maybe the stupid toruists and expats don´t know how low the salaries are in Turkiye. For example.... while I have to work for some food products in Turkiye 6 hours, I need to work only 20 minutes for them in Skandinavia or Germany. That means the price is 18 times higher for that products in Turkiye. And whild the prices for public tranpsort in Germany raises around 5 to 10% in a year it nearly doubles in Turkiye. when I arrived less than two years ago in Istnabul a monthly ticket cost 275 Lira, now it costs 602. And I am sure by the end of the year it will cost around 800 Lira.
People are very unhappy and frustrated, and they express that daily. Maybe you shouldn´t hang around in toruist areas, where everybody has to smile to earn money in tourism. Go and see the real life in Istanbul in the authentic areas, and see how hard people work to feed their families. And how many don´t have jobs.
@@evelynmiriam5386 you’ve done a lot of assuming and you are very angry and you are misdirecting your anger. Plus you don’t know me. If you read my post you would see that I am not talking about the tourist areas. Additionally, my comparison has nothing to do with $$$. It has to do with the Turkish people over all. Learn to speak without assuming and offending. Education is key.
@@evelynmiriam5386 Don't blame the tourists, expats or residency seekers. We invest our UK, Pakistani, German dollars into Turkiye. We make our money outside and spend it in Turkiye. You should try and smile more.
In the UK, you think we don't have a shit time? Do you know how much things cost like food, electricity, transport, etc etc. Inflation is everywhere. We have seen our electric and gas prices go up 40% and they are expect to go to 100% in 4 months time. Petrol is up 80% in the last 8 months.
Food is up 35%
House prices are ridicoulous.
For me to take the underground to work it cost $14 a day.
The whole world relies on fiat currency, and now its going to go wrong.
Trust me when i say this, it will get much much worse.
You need to look outside istanbul. It is not good for your mental health if the quality of your life is so shit. It's better to be happy and live on a farm, loving your children watching them grow, then to be in a stressed out city.
@@evelynmiriam5386 That's just western propaganda, lol. I lived in Turkey for years, happiness levels are definitely on the higher side.
Guys , as the real estate agent (working mostly for Polish customers)I do appreciate you and what you do. Great job.
Thanks for feedback
Why don't you just confess that low interest rates + slowed construction & increased construction material cost (due to pandemic) triggered this insane property price growth in Turkey. No economic reason for the prices to grow at this pace.
Thanks for watching and feedback
Can you please do a show about new transportation stations like Metro, ferry,metro bus etc that are currently being built around Istanbul and how they will reduce commute time to Istanbul
Problem with property in Turkey is the price to rent ratio. Unless it's for the super wealthy, I have a hard time finding a property that will bring in decent rent. Worse yet is the plummeting lira, making rent cheaper on the dollar year by year. Lots of pros to owning a property in Turkey but plenty of cons too
It is a very important metric, although I dont plan to give out for rent, but it show whether the property prices are overvalued.. What sort of ratio did you find?
You’ll earn huge profits by purchasing and selling properties
If you rent it on airbnb you can charge the customers using dollars so in this aspect you're a good and I have people I know who do that and make a killing during the summer we are talking about 1k a month.
If you rent it annually for a turk you'll be getting around 300$ as for the inflation and devaluation you can put a Clause that will put the inflation into consideration.
Any good tips on where to buy in istanbul
I would love to hear what Cameron thinks about that.
Well, according to numbeo, price-to-income ratio of istanbul is currently 23 not 12.5. You guys are using outdated numbers from last year.
Thanks for feedback
Excellent interview/discussion. Aladdin,you can’t win with Cameron,he always produces a Rabbit out of a Hat.😂 my eyes and ears were glued on my I-pad. Thoroughly enjoyed it.
Thanks for watching and feedback
If you are a seller, you would not be happy when prices fall. If you are a buyer, you would be happy when prices fall. That is for stating the obvious but I am just reacting to your statement that there is no pleasing us Depending on whether you are a buyer or a seller, you would be happy on one of those outcomes.
Thanks for watching and feedback
What’s going on guys!a lot of changes in the issuance of residence permit by virtue of buying of real estate. Now a ceiling is imposed.And tourist visa is no longer renewed.Any reason for that?
Thanks for watching and feedback
Amazing interview! I wish if you guys could make some subtitles from different languages so more mass of people can get the idea 💡
Cheers!
Thanks for the feedback Yacine!
Great show & content .. but few points between line currency devaluation & 70+% inflation.
Thanks for watching and feedback
What’s the point to sell properties to foreigners ? Your government is not allowing TRC and STRP to foreigners. The behaviour of Göç idarsi employees is worse with non-turks. It’s a humble request to all of you spread this msg to official’s that’s respect the investors or else just announce officially you don’t need foreigners in turkey .
Thanks for feedback
Cameron is right, who would want to live in New York or London, I wouldn't for sure. I would consider living in Istanbul in a heart beat. The gap between these cities and Istanbul is closing as time passes by.
Great analysis; many parameters to consider regarding the real estate market in Istanbul. Good governance, transparency, organic growth are all important factors in securing long term and sustentable growth in real estate; otherwise, we are speaking of only opportunistic investment!
Here in uk we are suffering hyper inflation we don’t know what will be the price of product tomorrow
Thanks for feedback
Well well said Mr Cameron diggen as always 👊 Alaatin nice hard talk
Excellent information and great analysis.
Discovering Istanbul, and it's potential, is like discovering Messi playing for his first club - Newell's Old Boys; you see his abilities and you know he'll do good job for you.
Thanks for watching and feedback
No matter how you both try to put it, the real estate bust is coming , in fact it started already in Toronto. Inflation is everywhere plus lack of goods etc including food items and it’s not going to get any better.
I’m going again to Turkeye, end of summer to look around before I buy . It’s better that way as I have only 100k to spend on real estate there.
Thanks for watching and feedback
True people are happy in turkey but they are worried and in distress not to all of them but to most of them I have family there I was just there for three months it’s not the same as two years ago yes real estate has gone up the cost of living is 300% to 400% wages only up 50%
The Turkish lira is down 600% from two years ago
Yet someone compares it to New York, London or Dubai.
Thanks for watching and feedback
In one of your last videos, Cameron Diggins warned against buying property in Belikduzu/Esenyurt/Buyukcekmece area due to potential supply surpassing demand. Now based on the scribblings of Mr. Diggins from this Episode, is it safe to say that some of this supply shortage in Istanbul is being met in these areas mentioned above? and that some of the demand from other parts of Istanbul will shift to these areas? considering numerous infrastructural development happening in Istanbul.
The real estate market has many variables. Perhaps a certain area is desirable now and after a certain period. It may not be suitable for investment purposes, but it meets the purpose of a certain lifestyle that suits certain people.
By the end of the day it come down to what you need or want now, and for what purposes.
So, you need to calculate the variables and which ones are the best for you.
Thanks for Commenting.
@@user-ov2tm2un1r That is true 🙏🏿
good afternoon - do you complain for prices going up 60% in 18 months? well, look at Iran's market... over 400% in 2 years -
Thanks for watching and feedback
American politicians do same here .they buy Realestste in the area where they first hand knowledge of new development and then they get agents to promote that area and so you guys doing same nothing. Out of ordinary
Thanks for watching and feedback
Cameron , you are absolutely right !Viva Turkeye ! All my employees and people whole day just batching about life . Big hug from Zaka
Thanks for watching and feedback
That was an inspiring 47 minutes. While I can't be sure that all of the points are %100 accurate, it gave some great insight indeed.
We are glad it was helpful
Rule number 1 : Never blindly trust a salesperson to get an objective analysis. These people have a vested interest to earn commissions and sell their properties.
They may or may not be right. They are not economists. They are a business and therefore salespersons, and everything they say is deemed to be biased.
Having said that, they are quite in depth, seem genuine, but may be out of touch with the economic ground realities (common amongst millionaires).
They also cannot speak the real reason why people might not want to invest in Turkey or refrain from doing so (AKP, Ukraine crisis, Refugee crisis, and other non-diplomatic policy, poor women's right, crashing lira, bas economic policies, crackdown on freedom of speech, etc). This, they cannot talk about because of legal as well as business reasons.
Turkey's poor economic policies have already caused a lot of damage, plus now there is a oncoming and somewhat ongoing recession, plus there is regional conflicts on all sides (with Greece, Syria, as well as a whole new out of control situation with Ukraine). These are not debatable.
Previously, Cameron has said things like, and forgive me for a poor paraphrasing "Who says people don't have money in Turkey? Go outside to a fancy restaurant and it is completely booked." This is how disconnected he might be from the ground reality.
Anyone who invested in 2021 and before must sell and take their 30-40 percent or more profits, which is super good, the rest should wait for atleast 2 more years for clarity. You may pay lesser or higher, but at least you will sleep peacefully. If you are impatient, then wait for the elections, and decide after 2-3 months of the 2023 presidential elections.
There is a housing bubble, this is a real phenomenon, and everyone must read up on the topic and understand the economics of it and make an informed decision.
Do not FOMO into the markets whatsoever just because two rich dudes got you excited to sell you their properties at a profit. They are essentially dumping on you. Why don't they buy if the optimism is so high? Why would they sell anything? Because there is a risk and they are mitigating it through your money. You are their hedge against the Global economic crisis, regional instability, other geo-political issues, and Turkish economic crisis.
We encourage our customers to do their homework before starting their journey with us.
Thanks for watching
Be aware please do buy Realestste in Turkey to make any passive income absolutely pathetic rerun on investment,I owned 3 apartments and rental income s less than 1 percent so please only buy for self use .
Well if you bought three cheap apartment faaaar away from the center. Please tell me where are the three apartments you bought.
If you have an apartment near mall of Istanbul or venecia or the center you can easily make 7% rental yield.
Btw I am talking from experience those apartments get 1k$ a month during the summer.
Thanks for feedback
How authentic is the data is debatable. The turkey real estate is bullish where prices doubled ever few months. The inflation is turkey is 80% comparatively to other cities average 10%
Thanks for feedback
Really good analysis by Cameron!
Turkish government has caused it too - like London too - you promote people from other countries bring money in yor country -- well, they do. where do you expect they invest? homes, apt... it is natural prices gos up - and it goes up for your own citizens....
Property prices going up is one thing.
It's a totally different story if the currency is depreciating as such a high rate, while inflation is rising. Those are caused by government corruptions
Thanks for watching and feedback
Both of them are genius specially Mr cameron
Thanks for watching and feedback
Briliant show
Thanks!
Please comment on Besiktas real estate records office, and perhaps others, now blanket rejecting ALL Apostilled Power of Attorney documents from the US. They are claiming that because they don't have "live" or "wet" signatures, they are no good.
Thanks for feedback
Türkce altyazi olsa keske!! 🥲
Thanks for watching
The median household income in New York City is $58k and the Median price of real estate is $770k, median price per sq ft is $927, a +16% change YoY, you may confirm my numbers using google, New York is the biggest financial center in the world and London is in second place.
Exactly, even though I would love to live in Istanbul but mainly for different reasons than cost of real estate . I’d only buy a place to live in Turkey. Language is the biggest and most irritating problem. I’d live in NY or UK at the drop of a hat, if I could but I’m in Toronto now which I love too .
Thanks for watching and feedback