Quality of building and lifespan in Turkey

Crypto · #1 27-01-2008, 10:54 AM

Hi,

looking through loads of adverts for apartments and villas in Turkey, I come across several adverts for "resales" that require total renovation. Some of these properties are only 10 years old and one was only 4 years old.

What's the problem here? Are there some very poor builders in Turkey or do the rental tenants trash the places?

I'm looking for a long term investment for my retirement pension, I don't want to have to re-build the place after 10 years.

Any views?

TH4S · #2 27-01-2008, 02:31 PM

Crypto at a guess i would say you are from the UK,

What's the problem There? Are there some very poor builders or do the rental tenants trash the places,

There are a lot of Turkish 'resales' that do not require total renovation.

Cagla · #3 28-01-2008, 12:40 PM

Hi Crypto,

No, there are not so many re-sale properties need renovation.The people do not use their houses so much since it is their summer house so does not need a big renovation.
Just it can be simple and basic for an old summer house and maybe damaged because of dump so you think to renovate it when you want to move in.

But if I were you; I would think of new built homes.There are many properties new built with good prices in Altinkum-Didim or the other coastal sides of Turkey.A good apartment sales price begins from £30k or a detached house with 3 bedrooms can be in £80k.
If you think it to live in your retirement term, why do you look for re-sales? It can need a renovation after a few years.I suggest you to build a house with a garden in a quiet and safe place to enjoy the garden and maybe pets but also closer to town for its social facilities.This does not cost you too much.
As I always suggest the buyers, do not make your plans on to rental income because it can be for a few weeks in spring or summer.It is according to your working hard for renting it out but can not guarantee the amount you expect to receive.

TH4S · #4 28-01-2008, 01:05 PM

Quote:

Do not make your plans on to rental income

Well said Cagla.. lets hope they listen,

Crypto · #5 28-01-2008, 06:01 PM

Just a small correction to a slight misunderstanding. I am not looking to retire to Turkey, I am looking to invest part of my retirement fund in a property in Turkey to benefit from capital growth and rental income rather that get a measly 5% on my capital in a British bank.

I would probably want to sell the property and recover my funds in about 10 years time.

Hope that's clearer.

Aegean · #6 04-02-2008, 05:27 PM

Quote:

Originally Posted by Crypto

Just a small correction to a slight misunderstanding. I am not looking to retire to Turkey, I am looking to invest part of my retirement fund in a property in Turkey to benefit from capital growth and rental income rather that get a measly 5% on my capital in a British bank.

I would probably want to sell the property and recover my funds in about 10 years time.

Hope that's clearer.

Not sure what others would say but as you want capital growth and a rental income I would look at Ankara - Istanbul - Izmir. Buy off plan as you will make good growth during construction then rent it. Go for a executive development as you will always get people to rent.