Turkey is The capitol of new Holiday Property Investment

For an increasing number of British investors in overseas property, the opportunity to experience a new culture, not just Britain in a hotter climate, is an important factor. Which is perhaps why Turkey - straddling Europe and Asia - has become an increasingly viable choice for UK purchasers in recent years.

Generally, overseas property interest in Turkey is centered on its southern coastline. On the Mediterranean coast it is the areas surrounding Antalya, along with Belek and Adrasan, where much of the initial overseas interest in Turkish property was concentrated.

While these areas are all still popular with British buyers, a growing number are also now looking to the stretch of Mediterranean coast that runs from Fethiye to Alanya. Both coasts offer a mixture of different lifestyles depending on the resort, from relaxed (Adrasan) to lively and sporty (Side and Belek, which is fast becoming Turkey's golf capital).

What's more, no matter which resort you choose to settle in, there are two things you can be sure of - the weather will be hot and the property affordable. Temperatures in the southern Mediterranean resorts average around 23C annually, and almost 30C in summer.

Another worry for British investors could be the unresolved dispute regarding Turkey's accession to the EU. The country has been slated to join some time in the next ten years - a development that will undoubtedly support Turkey's property market and economy in general - but ongoing wrangling's over the Turkish government's refusal to allow Greek Cypriot ships and planes into its ports and airports remains a sticking point, as does the fact that freedom of speech cannot be taken for granted.

However reaching $1.8 Billion in property sales for year 2005 (near Spain and Portugal), clearly shows that even without EU membership, purchasing a Turkish property is safe. Everyone in Turkey remains optimistic about Turkey's eventual EU membership, but even before EU talks Turkey has already become a hotspot because of the ease in purchasing the property, constant price rises and low taxes.

Turkey is certainly an intriguing country, as ideal for sun worshippers as it is for culture vultures. And while the property market still seems over priced in Spain, Italy and Portugal, buying a home in Turkey is a profitable experience worth looking into.


Turkish Property World

I just visited Alanya for investment and i really like the place for a holiday. As an investment i was a bit concerned and i cannot still put my finger on it.
There were half built blocks, full blocks with ready apartments, people trying to give away apartments.
Can anyone explain what is happening as i find this very disturbing. I saw that rental income is very little on investment.

I have a construction company in Alanya, as a company we are working in alanya area since 1992, you can believe that we sold 300 apartment between the years 2000 and 2005 and prices were starting from 5.000 NTL (New Turkish Lira) at that years, now, price of same apartments are starting from 30.000 NTL, as you see that price change in a few year is very high, Alanya area has this kind of price changes in every 3 or 4 year. Actually i have 60 apartment in Alanya area and 30 of them is ready to move and i believe that if i wait 1 or 2 year without selling then that prices will increase 30 or 40% in 2 year. There is also another possibility in this area, we have an airport in Gazipaşa, which is really close to Alanya, if it can be opened in a few years then everybody knows that prices of the lands and apartments will increase extremely.By the way there are 2 really big project constructed at the east side of Alanya (Hotel Projects) and owners are really clever guys, i wonder why they are spending so much money to the hotels that they are so far from Antalya airport??

Hi Alanya Bay,
If you have neer been to Turkey in the winter before, the winter season is quite different to how it will be looking now and in particular by May. I assume in your email that you went in March 2007, it's now mid April and some of those blocks you saw half finished will be completed by now. The mess left in the streets from the builders will be gone by May and all images of "blissfulness" will be resumed.

I do not know Alanya specifically but that's just how it is in the "winter" in Turkish holiday resorts. I use the term "winter" loosely as it's sunny for most of the year but the seasons are still dominated by the main tour operators. The tourists who visit out of season just go along with the mess for the rest of the year. I agree, "winter" is not a time to be wooed by Turkish resorts but that's probably why most of the buying takes place in the "summer" season. The Turkish government released figures last month, showing that Alanya was the second most popular area for foreign investment within Turkey (second to Istanbul). So all in all, whilst you may not have been bowled over by the place when you came, I would say that your investment is probably very safe and a good one. I'm afraid I cannot comment on rental income as I do not know the local rates, for domestic or tourist customers. If you are reliant on these to make your investment viable, take great care in who you place your property with, to maximise your income from the rental.
Regards
Sunny Days

Most building in the area is only allowed off season so all work tends to be started September and completed for May. Also property tax in Turkey is due when a property is completed many Turkish families will therefore not complete a build leaving the steel reinforcing showing on the top floor , that way they do not pay the property tax and as the family grows they can add another layer easily at a later date

I voted Agean Sea,
Why you may ask,? Because i have lived there for the last ten years,

I have lived in Turkey in the winter,what ever people say its not that cold,

I can comment on rental incomes in my area,,if i dont know a area rental income,I will ask one of my associated partners in turkey,

Sunny day days sorry i must disagree with your comments,

Lots of my sales take place,in the winter or late season,clients find it more easier to view propertys in these months,summer time is to hot,?

Pardon its not a mess,? its called construction/ building work,if this is done in the summer time, then tourist will complain,

I know turkey very well, that's just how it is,

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You must be lucky in Kusadasi because the constructors in Didim / Altinkum and Bodrum (the areas where I've lived) leave loads of mud, rubble, and debris...that's what I mean about it not being a time to be "wooed". We're at the end of April now. There have been a lot of skips employed; a lot of sweeping done and everywhere is looking a lot cleaner. May 1st starts "wooing" time!...no more rain, mud (roads in Didim are not all fully built hence lots of mud in some areas), no more banging and drilling. Plants in full bloom. Seasonal workers in employment to charm visitors; lots of sitting down doing not a lot in the heat - all very appealing to visitors to this country who are caught in a ratrace at home.
Yes, we sell properties in the winter too but to serious and informed buyers not impulse buyers (who form a significant percentage of our buyers) we only see in the summer. There are no accidental visitors to most Aegean tourist towns in the winter....they have a specific reason to be there.

Was aware there was a lot of construction work going on in the winter in Didim and Altinkum.are some of the roads in didim still not finished,?

Bodrum as aways looked nice,the belediye (council)seem to want to attract tourist in and out of season,

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In Didim, the majority of roads are not properly constructed. The council will not invest until the constructors have completed an area. It was the same in Bodrum about 15 years ago but times have changed over there as most areas are fully constructed (as they are rapidly changing here as more and more areas complete). Half finished roads will not be acceptable in a few years time but in the meantime, it's not a problem in the dry summers and the winter dwellers just put up with it for a few months of the year when we might see rain. It's a standing joke here that you're posh if you have a tarmac'ed road.......but that'll change soon to a bricked road as that's the new trend for the roads being constructed in Didim and Altinkum.
The road situation is a passing phase - one that all rapidly developing areas have to go through....some people moan about the situation but it's all part and package of the "beauty" of the area, in my opinion. Hey! for 20 YTL council tax a year, I'm not complaining!

Bodrum you must agree, Bodrum as changed over the last fifteen years,


Why any resident of Didim / Altinkum just puts up with,?

I would be complaining!

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