The UK property market is in much upheaval and with so many doom and gloom articles, what are the facts? Truth is house prices have dropped for the fourth consecutive month this January, interest rates have been cut and mortgage providers are stricter than ever. For the average boffin, the property market is not looking great, but for shrewd investors - and even first time buyers - it might not be so bad after all.

Increased demand pushes rent prices up 10%

First things first, what are the experts saying about buy-to-let? Well nothing is for certain, however there are a few facts we can rely on. 86% of current investors intend to either expand or keep their portfolios the same. The majority are in no rush to sell and although money may be tight, long term prospects remain strong.

Halifax figures show that there are fewer potential first time buyers in the marketplace, and those who are seeking mortgages are finding it increasingly difficult (providers have tightened their criteria and most have now stopped 100% mortgage deals). This has led to an increasing demand for rental properties and, most interesting to investors, average rents in the UK increased by 10% in October 2007 compared with the previous year. As the Independent reports - the buy-to-let market may just ‘defy gloom’ yet.

Repossession woes mean opportunities for first time buyers

Secondly, although buying property is increasingly difficult, there is hope that falling prices will attract people who have until now being priced out of the market. It won’t be easy though, as mortgage providers are now asking struggling first time buyers for a 10% deposit on all properties.

Still, despite rising rates the Guardian has reported that there has already been some interest from first time buyers at auctions. ‘One man’s loss is another man’s gain’ seems to be an apt description for the UK property market at present - as more people with 100% mortgage deals will struggle to find replacements for their current term when it runs out. Increasing repossessions mean more auction properties and it’s great news for first time buyers as this number is set to increase still further.

Property market clouds with a silver lining

Admittedly it is a difficult time for the UK property market: The Royal Institution of Chartered Surveyors (RICS) has reported the fastest falling house prices since 1992, and Instant Access Group suggests that prices won’t pick up until 2009 (as reported on Bloomberg).

With the housing market in tatters, buying property now is not for the faint-hearted. However, where there’s a will, there’s a way - this so-called crash could just work out for serious investors with money to burn, or for the braver of first time buyers with the cash for that dreaded 10% deposit.

Water. Cleveland, Ohio, is all about water. Situated on Lake Erie at the mouth of the Cuyahoga River, water defines the city. The lavish fresh water supply supports both industry and residential growth and the waterfronts offer endless opportunities for outdoor recreation.

The city of Cleveland lies in the center of the 16^th largest metropolitan area in the United States, at the heart of one of the most heavily populated regions in the country. It has been a giant of industry, and it has taken its share of knocks too. After two centuries of innovation and change, Cleveland now is recreating itself as a “community of connections.”

From tiny settlement to big city - a brief history of Cleveland

In 1796, General Moses Cleaveland surveyed the townsite at the mouth of the Cuyahoga River. One year later, the settlement celebrated its first wedding and its first birth. The community grew slowly; in 1820, fewer than 700 people called the town home. However, with the completion of the Ohio and Erie Canal in 1832, the population exploded, jumping from just over 1,000 residents in 1830 to around 6,000 in 1840 and by 1850, more than 17,000 people resided in Cleveland, Ohio. The years following the Civil War saw the introduction of major industry in the city: the Cleveland Rolling Mills produced its first Bessemer Steel in 1868; Standard Oil Co. and Sherwin Williams Co. opened early in 1870. By 1900, Cleveland was the seventh largest city in the United States.

A melting pot of industry, sports, art and technology

Today, Cleveland is an industrial city experiencing something of a rebirth and the population of Cleveland’s downtown is growing rapidly. Professional sports teams flourish here, including the Cleveland Indians (baseball), Cleveland Cavaliers (basketball), and Cleveland Browns (football).

The arts too are very much alive in the city: the Cleveland International Film Festival screens hundreds of independent films each March; the Mayor’s “Our City, Our Arts” initiative encourages visual artists to display their work in the Cleveland City Hall Rotunda and Gallery and invites performing artists to the Rotunda; the capital improvement plan includes public arts for buildings, parks and streetscapes.

The city also has plans to bring digital technology to every neighborhood through its Municipal Wireless Network Initiative so that visitors will enjoy access wherever they travel throughout the city.

Connecting Cleveland 2020 Citywide Plan - a strong vision for the future

The city’s Connecting Cleveland 2020 Citywide Plan proposes to make Cleveland a “city of choice” for residents and businesses alike. The plan envisions mixed-use, safe and healthy urban neighborhoods featuring high quality services. It also focuses on the city’s water resources, including Lake Erie, the Cuyahoga River, as well as its trails, parks and open spaces.

Economic development will build on the area’s existing assets in higher education and medical research: Case Western Reserve University is counted among the nation’s top 50 institutions of higher learning and the College of Urban Affairs at Cleveland State University is ranked among the top ten. Also, Cleveland Clinic is consistently ranked as the top cardiac care center in the nation and University Hospital is home to one of the nation’s leading pediatric hospitals.

What’s more, community members want to implement a green economic strategy that supports environmental sustainability. To this end, EcoCity Cleveland and the Cleveland Museum of Natural History are partnering to create a new Center for Regional Sustainability.

A city with a neighborhood for every taste

Cleveland’s unique neighborhoods offer something for every taste. Downtown is no longer just a place to work; people come to live and play as well. Shopping, arts, dining, and nightlife make this an attractive setting for many people.

Historic homes that once belonged to some of Cleveland’s wealthiest men; the Cleveland Cultural Gardens; and proximity to University Circle give the Glenville-Forest Hills neighborhood its personality.

North and South Collinwood is characterized by little streets and intimate neighborhoods that overlook the lake, creating an inviting community that has caught the attention of local artists.

St. Claire/Superior sits on 50 acres of lakefront land that makes Lake Erie accessible to boaters and fishing folk. The neighborhood includes a mix of styles that reflect the city’s history and cultural diversity. Asia Plaza offers some of the best authentic Chinese food and goods in Cleveland.

The 37^th largest country in the world, Turkey boasts the type of property prices you would have found in Spain 20 years ago, making it an excellent choice for investing. So, if you’re interested in exploring property opportunities here, where is best to look?

Dominic Whiting, editor of the Buying in Turkey Guide suggests the three hotspot places in Turkey you should be keeping an eye on this year: Dalaman, Bodrum and Cesme.

New Gatwick-Dalaman flight four times a week

Dalaman, on the southwest coast of Turkey, is one of the destinations that Easyjet will commence flying to from the end of March 2008. The service will run from Gatwick four times a week and is expected to boost both tourist numbers and property rental opportunities. New build properties in Dalaman start at about £44,000.

Bodrum - established, and particularly popular with the Brits

Bodrum is already an established tourist location and is one of the most popular areas for British property buyers. In fact, there are about 3,000 Brits already living there. This Turkish port is in the Mugla Province, on the Bodrum Peninsula and offers a good choice of properties. Bodrum has seen many new developments sprout up over the last few years, meaning there are many new property opportunities too. If you’re buying a new apartment, expect to pay from £60,000.

Cesme - for serious property investors or those looking for an authentic Turkish resort

On the west coast of Turkey lies the town of Cesme. It’s a popular place within Turkey, but has - so far - had little interest from foreign buyers. Nevertheless, Cesme’s property market has a real lot going for it. “The Cesme market has been red-hot thanks to strong demand from Turkish buyers, and this domestic popularity makes property in the area a good investment,” comments Dominic Whiting. “It’s also ideal for people who want to be in a real Turkish resort and not surrounded by foreign tourists.” A new apartment in Cesme would set you back about £68,000.

So, why Turkey?

It’s not only Dominic who thinks Turkish property could be a good buy. A feature published in the Telegraph last year, highlighted the county as an emerging property hotspot.

As a country, Turkey has over 300 days of sunshine a year, a great climate, heaps of history and a relaxed lifestyle. Predictions suggest 2008 may bring up to 25 million visitors to the country, which is positive news for investors. Other great reasons to consider Turkey include:

• The low cost of living. A beer costs about £1 and a bottle of water costs 40p.
• Capital growth. It’s been averaging at 21% for the last few years.
• New low cost flights. They’re sure to boost visitor numbers to the country.
• The great coastline. Turkey’s stunning beaches have a never-ending appeal with tourists.
• Government development plans. They’re helping to increase amenities and facilities for tourists.
• Planning controls. There are height limits on new builds, so you won’t unexpectedly find yourself in high rise hell.

So, if you’re planning to invest in overseas property in 2008, Turkey might very well be one of the countries you’ll want to look at for some very interesting property deals.