photo credit: ndrwfgg

New figures released in Turkey have highlighted the most popular areas where foreign nationals buy property - and top of the list is Muğla.

The figures, published by the Land Registry General Directorate in Turkey and reported in newspapers such as the Turkish Daily News, show that 73,000 foreigners now own properties in the country, equating to 38.42 million square metres. The province of Muğla, which is home to towns such as Bodrum, was revealed to be the most popular place for British buyers to purchase property, closely followed by Antalya and Aydin.

The province of Muğla has 12,865 foreign owners of land and property and 10,039 of these are from the UK. In fact, the total amount of land owned by Britons here is a massive 2.66 million square metres. The other major groups of foreigners buying in Muğla are from Germany, Denmark, Ireland and America.

Other than Brits, Turkey is favoured by German buyers and, in particular, they seem to make a beeline for Antalya. In Antalya 6,424 Germans own 4,890 units of property, which amasses to 1.25 million square metres. Britons seem to like Antalya too, as they own 777,786 square metres of property in the city.

Interestingly, the report showed that there are still many areas of Turkey where no foreign nationals own any property or land. This includes the cities of Agri, Bitlis, Hakkari, Mus, Sirnak, Ardahan and Igdir.

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The Indian real estate market is at an exciting place, where the overall scenario is somewhat sluggish, but the market for premium apartments continues to grow. Right now, buying luxury apartments is a good bet, as you are sure of a good return on investment. This is probably because India’s economy is still going strong, so people have money and don’t mind paying some extra cash for a premium real estate property.

Recently launched Castlewood premium apartments are a good buy in this lucrative category. Castlewood has 550 limited edition luxury apartments located in the heart of India’s capital, Delhi. You have a choice of three and four bedroom luxury apartments spread over 15 towers.

Swimming pool, gym, and a personal Jacuzzi

The developer, India Bulls Real Estate, is promoting Castlewood as state-of-the-art luxurious residential apartments offering the best in international standards. Because the number of flats in Castlewood is only 550, you are also sure of their exclusivity.

Significant features include a swimming pool, gymnasium, play area for kids, jogging track and a Jacuzzi in the master bedroom .

Central, yet close to nature

The apartments are in a very good location, situated in up-market South Delhi. Delhi is one of the hottest markets for real estate investment in India, and within Delhi, South Delhi is usually the first choice for those who can afford to buy here. Castlewood is also close to office hubs like Okhla Industrial Area and Nehru Place.
A unique point of Castlewood is the 500 acres of lush greenery surrounding the apartments - just the thing to distance you from the noise and bustle of the city. Castlewood is also near the Asola wild life sanctuary, so you can cherish the calm and quiet of unspoiled nature, in the heart of Delhi.

Luxury apartments at a rather reasonable price.

The Castlewood apartments come with a starting price of $612,500 and are pretty reasonably priced, considering their location and construction. An Indian Express article on Castlewood mentions that, “compared to some of the hot areas of south Delhi, the project is priced pretty cheap. At Rs 12,750 per sq ft ($324 approx.), the property is not even Rs 1.25 lakh per sq yd ($3125 approx). You are unlikely to get any respectable place in South Delhi for less than Rs 1.5 lakh per sq yd ($ 3750 approx).”

A good thing about Castlewood is that the company behind the real estate project is very strong. India Bulls Real Estate Limited (IREL) is one of the largest real estate developers in India and currently has projects covering a total land area of more than 10000 acres. Choosing the right property developer is crucial when investing in off-plan property, and this is another point in favour of Castlewood.

An Ideal Property Investment

The Castlewood project is due for completion in 2011. It has just been launched so the prices are still on the lower side, making it a great off plan property investment. And as it is a premium project in Delhi, and backed by a good company, the prices are sure to head northwards.

However, since the apartments number only 550, investors probably need to act quickly before they are sold out.

Further Reading

Look Beyond The Walls (Further analysis of project Castlewood).

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