New budget flights make Dalaman even more appealing…

by Charlotte Ashton Turkey

 

Budget airline Flyglobespan has announced that May 2009 will see them launch weekly flights from Aberdeen to the popular resort of Dalaman, situated on the south-west coast of Turkey – a move that will prove very popular with both holidaymakers and property investors alike.
 
The airline will operate flights from the Scottish city once a week from April to October with prices starting from £99 one way (including taxes). Rick Green, CEO of Flyglobespan comments on the move, "We are delighted to be offering this new flight to the Turkish destination of Dalaman. Turkey, with its rich culture, great beach resorts and reputation as a value-for-money destination, is bound to be a winner. Our customers told us this is what they wanted and so we are delighted to be able to offer it."
 
One of the hotspots for British holidaymakers, according to the Association of British Travel Agents, the number of holiday bookings for Turkey has increased by 20% in 2008 when compared to the previous year. Figures from the Turkish Tourist Office show Turkey overtaking Spain as the most popular holiday destination for British holidaymakers this summer. The increase of cheaper flights from regional airports such as Aberdeen is sure to further increase the country’s popularity.
 
Graham and Irene Rennie from Aberdeen are one couple who are likely to benefit from the new budget flights from their local airport. The Rennies purchased a three-bedroom, semi-detached villa in the unspoilt Akkaya valley near Dalaman from a local developer off-plan in 2007. They plan to use the property both as a holiday home and for rental: “My advice to anyone who has funds sitting tied up in the family home is to use it to enhance their lives in the here and now and to buy a lovely retreat like ours” says Irene. “Renting the property out, even if only to family and friends, will keep the costs down and it will be passed on down the generations.”
 
Already quoting “easy flight access” as one of the main reasons why they bought in Dalaman, along with “value for money, a beautiful country, no tourist overcrowding and a good climate”, Graham and Irene Rennie are not only likely to find visiting the villa themselves easier and cheaper, the rental potential is likely to increase with the introduction of the new flights from Scotland. Dominic Whiting, editor of the Buying in Turkey guide, agrees, “Increased accessibility to Dalaman with new flight routes is excellent news as it makes a stunning area even more appealing to UK residents and will in turn mean that those buying property in the area see an even greater return on their investment.”
 
For more information about property in Dalaman contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
 
 

21st Century B&B – Buy and Build…

by Charlotte Ashton Turkey

Whether it is because you want to stand out from the crowd, want a custom-made solution for your specific needs, or that you want to get ahead of the game when it comes to investment, designing your own property could be the answer you are looking for. Designing a property to your own specifications can be achieved in a number of ways: from using a ready-made build plan and making your own adjustments; or working with an architect to design a property from scratch to suit your exact requirements. Gerry and Kathryn Stewart from Leeds took the third option to build their very own dream retreat in Akkaya, an unspoilt valley in the Turkish mountains near Dalaman.

Like many looking to buy a property abroad, the Stewart’s didn’t realise that building their own property would be a financially viable option, “we had no idea that building our own home would be a possibility, but apparently it was within our budget,” explains Gerry. The couple discovered that construction costs are usually provided per square metre for a given location, but vary widely from resort to resort. As a general guide the cost of a 3 or 4 bedroom villa in Turkey where the Stewarts bought, on a 500m2 plot varies from £100,000 to £200,000 plus. The price of the chosen plot of land, the size and style of the villa and pool, garden landscaping and fittings and fixtures determine the final cost.
Gerry and Kathryn decided upon a 1,230 m2 plot with fantastic views of the mountains and the nearby Akkaya lake, and local planning regulations allowed them to build two storeys on 185 m² of the land, with terraces and a swimming pool not included. This build-figure is dictated by local planning regulations which determine how large a house you can build on a given plot of land, with limits on the area of the building’s base, or ‘footprint’, and the number of floors. Building companies are well versed on local planning rules and a creative architect can often gain extra space if needed by adding a bedroom in the roof space or putting a bedroom, or even a self-contained flat, below the house or swimming pool if the land is sloping.
Through working closely with the local architect and trawling the internet and interior design magazines for ideas and inspiration, Gerry and Kathryn compiled a list of features they wanted for their house. These included a second living area on the first floor level that could enjoy a completely unobstructed view of the surrounding stunning scenery, a galleried hall with spiralled staircase to create a dramatic entrance, and open fires to ensure the living spaces were cosy in wintertime. An interesting process, the couple learnt that some of their ideas weren’t practical options given the space and budget available – “we were doing a lot of fantasising!” laughs Kathryn – but they also learnt a great deal from their architect who made alternative suggestions that worked well, such as adding a round feature window above the front door and pillars to the living room.
The couple found, like many who design their own home, that dreams need to fit with the practicalities for the property to work off-paper but that when the plans are finalised it is hugely rewarding to see your vision grow to become a reality: “It was really exciting to see the building take shape and to know that it was going to be your home” says Kathryn who had a monthly report sent through to keep them up-to-date with progress, “On the first day of every month we received a progress report and pictures from the builder,” says Kathryn. “We agreed to only open them together, so we’d both rush home!” Keeping well informed of how the building work is taking shape helps to ease the build process for overseas buyers and in the Stewart’s case helped to take a weight off of their minds.
 
Turkey has an excellent selection of high-quality fixtures and fittings– many made locally and available at much lower prices than in the UK. Being involved in the design process means that British buyers can choose a contemporary design or bring traditional Turkish or Mediterranean features into their property – with architectural features that include an internal courtyard, bay windows and covered balconies and the use of wood and natural stone. The Stewarts were pleasantly surprised by the choice of tiles, fittings and appliances available in Turkey but found it difficult to make a decision “It was really hard work because of the huge selection!” explains Gerry, but “the design team also made some great suggestions, such as incorporating mosaic panels into the tiled floors and adding a false ceiling and spot lights in the living rooms.”
When the process had reached completion and the house was finished, Kathryn and Gerry took a trip to Turkey to see their finished home for the first time – and both were over the moon: “It was very emotional and I burst into tears when I saw it for the first time” says Kathryn, and Gerry’s reaction was no less delighted: “I was so excited that I could hardly sleep that first night and I was up at 4am clambering around the mountainside with a video camera!” he laughs.
The Stewarts are prime examples of the great sense of achievement felt when a self-designed project is completed and Dominic Whiting, editor of the Buying in Turkey Guide agrees, “Building your own property means that you can adapt the property to suit you, rather than having to adapt your family and needs to suit the property. In this way, you can have the house you want in the location you want, with little or no compromises. With property values rising rapidly in Turkey, building your own property makes excellent financial sense also, allowing you to secure tomorrow’s property at today’s price.”
According to Dominic Whiting, the cost of building can also be spread with a number of stage payments made throughout the build process, helping your finances and giving you security and piece-of-mind. Generally speaking, 90-95% of the building costs will be paid during construction, which typically lasts 12-18 months, with the remaining instalment payable when the keys are handed over on completion and you receive the property title deeds.
Buying in Turkey offer a bespoke villa service that allows you to build your dream home in an excellent location on the Turkish coast. Choose a plot of land in Kusadasi, Altinkum, Bodrum, Dalaman, Akkaya, Sarigerme, Fethiye, Kalkan or Kas and either choose a build plan to adapt or work with an experienced architect to design your property. For example, an individually-designed 4 bedroom villa with 350m2 garden and private pool within walking distance of the beach in the resort of Altinkum can be bought and built for around £109,000/ €136,570. While a 4-bedroom villa on a spacious 500m2 plot with pool in the stunning area of Akkaya, where Gerry and Kathryn built their house, would cost around £175,000 / €221,220. At the other end of the spectrum, a stunning 5 bedroom stone villa with uninterrupted sea views on the highly desirable Cukurbag peninsular in Kas with large infinity pool and a 750m2 garden can be bought and built from £350,000/ €407,127. For more information about buying land and building a villa in Turkey, or Turkish property generally contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
————————–ENDS——————————–
Editor’s Notes
Self-build Property Highlights
 
Sea view heaven – Sarigerme
A large 3-bedroom villa with private pool and garage that enjoys stunning views of Sarigerme beach and the new golf course, set on a 470m2 terraced plot. Approximate land and build cost: £145,000
 
Rural bliss – Akkaya, Dalaman
A spacious 4-bedroom villa in a stunning rural location overlooking Akkaya lake with private swimming pool set in a 500m2 garden. Use of nearby communal facilities including tennis court, fitness centre and restaurant. Approximate land and build cost: £185,000
For more information contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
————————–ENDS ALL—————————–

Where in the world…

by Louise Turkey

… Can you find an adoringly restored natural stone built house, with Laura Ashley interiors, surrounded by fruit orchards and olive groves? France? Spain? Croatia? The answer is Turkey in the local ecological village of Kirazli.

 
We have spoken to Karyn Phillips, the lady who owns this beautiful property which is currently on the market with specialist Turkish agency, Spot Blue. Karyn’s vision for property and building communities is something she has nurtured and developed throughout the years. Having spent 12 years at the hard end of social care, Karyn opted for an early retirement and took up part time property development… and if that conjures up images of two up two down house renovations, you’d be very much mistaken. Her first project was building a jungle house on a tiny Mexican island in the Caribbean.
 
Karyn has only ever been interested in unique projects which offer more than just a home in the sun, she sought out potential for small business opportunities and ways to involve whole communities. Karyn comments, “As we worked on each project we also found that contributing to the small communities we were in was as important to us as finding a viable business opportunity for the buyer.  We believe that our houses have to fit into their environment, offer something of benefit to the whole community and promote the area in general.” The house in Kirazli has the potential to be an art studio and gallery, small day spa or venue for art holidays.
 
Karyn fell in love with Turkey when she first visited, “We found a beautifully diverse country with amazing views, real drama in the scenery and a vibrant culture.  It really just blew us away.” Kirazli is perfectly situated just outside of Kusadasi, it is charming and tranquil yet close to Izmir airport and the Aegean coast beaches.
 
The house was bought with the intention of renovating it and selling it on to someone looking for an active retirement or overseas business dream, “For us it was always about achieving the reality of an idea, not about keeping the home forever, that was for the people who got to buy it”. Since Karyn’s husband passed away in April she has already set her sights on new projects in Turkey, each project gets more environmentally friendly and more authentic – key skills of a good sustainable property developer.  
 
The stone houses in Turkey can be difficult and costly to renovate, one of the reasons that so many are knocked down to make way for cheaper brick houses in their place. But true to her beliefs, Karyn’s intention was to lovingly restore the property using local craftsmen and reclaiming materials wherever possible. Every room was planned out in detail before any works commenced including interior layouts, themes and water colour sketches of the ‘vision’. It has been designed to be welcoming, combining wow factor with warmth; it has elements of Tuscan style with shutters on the windows and textured porcelain floor tiles in muted colours. With an injection of Laura Ashley furnishings there are also evidence of an English country feel from the shaker style kitchen to the hanging scented hearts on the cupboards.
 
If this property isn’t perfect enough already, then knowing that the neighbours drop round gifts of fruit and home made cheeses will help complete the dream. “When I am in Kirazli I know I am safe.  My neighbours aren´t intrusive or in your face, they just quietly accept me and watch out for me.”
 
Most of the families in the village keep goats and sheep for their milk, it is a true farming community. The village is surrounded by cherry (Kirazli means Cherry Village) orchards, vineyards, peach orchards and olive groves.  Everything moves to the rhythm of the crops, first the green almonds in April, then the cherries in May and June, then the peaches, the grapes in September and winter for the olives. 
 
It is no surprise then to learn that Kirazli is an ecological village. The headman Hussein, elected by the locals to democratically manage the village with a team of advisors, has ensured that the surrounding pine forests are protected and he has helped create a centre for ecological farming. As part of pre-accession European funding Kirazli received a grant to fund a three year project to establish the first organic seed stock in Turkey.  This project has just come to a successful end and further projects involve expanding the organic orchards. But Kirazli certainly isn’t without its regular amenities, the village has two butchers, two general stores a weekly bazaar on a Tuesday, a high school, two boutique hotels, a carpenter, a mechanic and several extremely good restaurants. 
 
Overall Turkey offers a huge amount to the careful and discerning buyer.  Prices continue to rise steadily and the credit crunch isn´t biting as hard as it is the rest of Europe.  Also, for British buyers flexibility on the currency you use to buy in makes it a good alternative to the Euro zone where the strong Euro makes prices hard to swallow. 
 
Apart from economic factors Turkey offers something culturally different, an appealing lifestyle and lower cost of living. It is a remarkably safe country with very low figures for crimes against the person and it is a country that still values the community.
 
And for those buyers willing to venture outside of the main tourist zones and the mainstream options there are huge rewards available in terms of discovering a whole new way of life and culture without sacrificing the modern amenities they need.
 
For further information contact Spot Blue on 0208 339 6036 or visit www.spotblue.co.uk.
 
 
———– ENDS —————
 
The Kirazli house is on the market for £245,000, it has three bedrooms, master with en-suite. Fully fitted kitchen with granite work tops; air conditioning, private courtyard garden and private swimming pool with waterfall feature. Available fully furnished. Contact Spot Blue on 0208 339 6036 or visit www.spotblue.co.uk for details.
 
 

The ´Credit Crunch Bolt-hole´ in the sun

by Charlotte Ashton Turkey

 

Don’t put your dreams of buying an overseas property on hold. Described as the ‘Credit Crunch Bolt-hole’ by The Times*, Turkey has great value property in the coastal resorts from as little as £35,000 and proven capital appreciation rates of 15-20% per year in the best areas. Whether for investment or fantastic holidays in the sun, Turkish property offers a ray of light in these gloomy economic times.
“Thanks to a rapidly growing economy, increasing tourism and huge investment in the infrastructure of the coastal tourist areas, property in the Turkish resorts represents an excellent investment,” explains Dominic Whiting, editor of the Buying in Turkey guide. “However, like all market’s you need to do your research and choose the best areas.”
Below is a round up of the best value apartments and villas in the best areas on the Turkish coast this summer according to the Buying in Turkey guide.
 
Gokdere Apartments, Ozdere, from £36,500
Amazing value two-bedroom apartments just 5 minutes walk from a lovely beach in the resort of Ozdere, which is largely undiscovered by foreign buyers. A very high-quality build for the price.
Sun Complex, Altinkum from £40,000
Spacious and well-built apartments in a fantastic location near the beach in the popular resort of Altinkum. Ready for use in August.
Akkaya Gardens, Dalaman, from £46,200
Two-bedroom apartments with stunning views and excellent facilities in the beautiful Akkaya valley. A winner in the Best Turkish Development category of the CNBC Property Awards, these are a great buy for holiday use and investment.
The Melito Villas, Kusadasi, £67,500
These hugely popular four-bedroom villas are fantastic value for money. Walking distance to the beach and with a large pool, they are ideal for family holidays. Proven rental potential too.
 
Dominic Whiting tells us why is Turkey such a good buy:
·         Fantastic scenery, great beaches and friendly people
·         A rapidly developing economy with rising income levels and a growing domestic property market
·         A major tourist destination, with over 25 million visitors expected this year
·         Huge on-going investment in infrastructure and tourism projects, such as marinas, golf courses and airports
·         Low cost of living – about 60% lower than in the UK
·         Property values are well below the EU average, though rising fast
  • 15-20% price increases per year
 
A free copy of the best-selling Buying in Turkey guide, first published in 2005, can be downloaded at www.buyingin.co.uk
 

* Bricks & Mortar section, The Times newspaper, Friday July 4th

Turkish Property Secretsbuyingin.co.uk,

by Charlotte Ashton Turkey

 

Despite the economic gloom back home, 2008 looks like being a bumper year for the Turkish tourist industry with early arrivals up 18% and experts predicting over 27 million visitors by the end of the year. Record numbers of British property buyers are also being attracted by the country’s spectacular scenery, sandy beaches and excellent value for money. Official figures show over 20,000 British-owned properties concentrated largely in the established coastal resorts of Kusadasi, Altinkum, Bodrum and Fethiye. But it is also possible to find some great property in quieter areas, away from the package tourist crowds.
 
Hidden away in the unspoilt coastal mountains near Dalaman, Akkaya is a stunningly beautiful valley of olive groves and pine forests overlooking an emerald green lake. Despite the tranquility of the surroundings, Dalaman’s international airport, which is served by Easyjet and package flights from the UK, is only 15 minutes drive.
 
“Over 750,000 British tourists passed through the airport last year on their way to the main resorts but very few stayed in the area and even fewer know about Akkaya,” says Dominic Whiting, editor of the Buying in Turkey guide.  “Although Dalaman town itself isn’t particularly picturesque, it offers a slice of authentic Turkish life and the surrounding countryside is extremely beautiful and there is a lot to do.”
 
The long sandy beach at Sarigerme is a nesting site for sea turtles and a centre for water sports. There is also an 18-hole golf course due for completion in 2009/10. Nearby Dalyan has ancient ruins and boats run up and down the river to a beach, mud-baths and hot-springs. In Akkaya there is fishing on the lake and the area’s paths are ideal for walking and mountain biking. For adrenalin-junkies there is white water rafting on the Dalaman River.
 
There are a selection of freehold villas and apartments available in Akkaya and a rustic restaurant beside a rushing mountain stream caters for residents. There is a complex of two bedroom apartments with a large communal swimming pool and fitness centre due for completion next summer. Prices start from £46,200- £64,050. For those wanting a villa there is a choice of three and four bedroom houses and a luxury bungalow, all with large gardens and a private, or the use of a large communal, swimming pool. Villa and bungalow prices range from £129,000-£157,000.
 
Sitting on an unspoilt stretch of coast between the better-known resorts of Cesme and Kusadasi, Ozdere is virtually undiscovered by foreign tourists and property buyers. A popular holiday destination for middle-class Turkish families, it is a small and friendly place with a permanent population of just 13,500. The area has over 24 miles of excellent sandy beaches backed by pine-forested mountains and citrus orchards.
 
“Ozdere is a secret the Turks have been keeping to themselves. The resort has fantastic beaches but is very laid-back and the people are incredibly friendly,” says Dominic Whiting. “Without the attention of foreign buyers prices in Ozdere are lower than nearby resorts like Altinkum and Kusadasi. It is possible to buy a really well-built apartment within 5 minutes walk of the beach for £36,500.”
 
The Gokdare Apartments have a communal swimming pool and an on-site caretaker and are under 5 minutes walk from the beach. Two bedroom apartments cost Euro 46,000-75,000 (£36,500-£59,000). Alternatively, the Mirande Apartments are in a quiet neighbourhood just minutes walk from the beach, shops and restaurants. They enjoy sweeping views of the sea and the Greek island of Samos from the first floor upwards. They have a large communal swimming pool and an on-site caretaker. Prices range from £47,000-£91,000 for the two-bedroom and £95,000-£111,000 for the three bedroom apartments, which includes a fully equipped kitchen and white goods.
 
There is strong and growing domestic demand for property in the area, which is popular with families from Izmir, a city of over 4 million people that is only 37 miles (60 km) away.
 
“Ozdere is an excellent investment opportunity with good potential for capital growth. The local rental market is buoyant with good quality apartments in demand for long lets by Turkish families during the summer,” says Dominic Whiting.
 
Izmir international airport, which is served by year-round British Airways flights from the UK, is only 30 miles (50 km) or 35 minutes drive. If you want to do the tourist thing, the ancient site of Efesus, one of the country’s most popular attractions, and the House of the Virgin Mary, held to be the resting place of Christ’s mother, are 15 miles (25 km) from the town. There are many other smaller, rarely visited ancient sites dotting the countryside.
 
Ozdere itself has plenty of shops on its bustling main street and three supermarkets. There is a good choice of convivial restaurants and tavernas serving excellent value seafood and mouth-watering Turkish dishes washed down with the local aniseed spirit, Raki, locally produced wine or lager. A dinner for two with drinks costs less than £20. For those in search of nocturnal fun there are bars and a few discos open in the summer, but the local nightlife is low-key and aimed at locals rather than tourists. The town has a public hospital and several private clinics catering for permanent residents and visitors.
 
For more information about buying property in Akkaya, Ozdere or elsewhere in Turkey contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
 

Turkey’s Undiscovered Mediterranean Jewel

by Charlotte Ashton Turkey

 

Looking for a sunny place to escape the unreliable British summer? A friendly Mediterranean resort with sandy beaches that hasn’t been swamped by mass tourism? A place where you can buy a brand new seaside apartment for a recession beating £36,500? Well, the Turkish seaside town of Ozdere may be just what you are looking for.
 
Located on a beautiful, unspoilt stretch of coast between the better-known Turkish resorts of Cesme and Kusadasi. Ozdere is virtually undiscovered by foreign tourists and property buyers. A popular holiday destination for middle-class Turkish families, it is a small and friendly place with a permanent population of just 13,500. The town is backed by rugged pine-forested mountains and fringed by citrus orchards, but it is the excellent local beaches and hidden coves – there are over 24 miles (40 km) of sand to choose from in the area and several beaches have won the coveted Blue Flag award – that attract domestic holidaymakers in summer.
 
“Only a few foreign buyers have discovered the area, which is one of the hidden jewels of the Turkish coast. The resort has fantastic beaches but is very laid-back even in the height of summer and never gets too busy,” says Dominic Whiting, editor of the Buying in Turkey guide. “Property prices are some of the lowest on the entire Turkish coast. It is still possible to buy a well built new apartment with good facilities within 5 minutes walk of the beach for as little as £36,500.”
 
Without the attention of foreign buyers property prices have risen more slowly, and are currently 15-20% lower, than nearby resorts like Altinkum and Kusadasi. However, there is strong and growing domestic demand for property in the area, which is popular with families from Izmir, a city of over 4 million people which is Turkey’s third largest, located only 37 miles (60 km) away.
 
“Ozdere is an excellent investment opportunity with good potential for capital growth. The local rental market is buoyant with good quality apartments in demand for long lets by Turkish families during the summer,” says Dominic Whiting, editor of the Buying in Turkey guide.
 
Ozdere has plenty of shops on its bustling main street and three supermarkets. There is a good choice of convivial restaurants and tavernas serving excellent value seafood and mouth-watering Turkish dishes washed down with the local aniseed spirit, Raki, locally produced wine or lager. A dinner for two with drinks costs less than £15. For those in search of nocturnal fun there are bars and a few discos open in the summer, but the local nightlife is low-key compared to larger Turkish resorts. The town has a public hospital and several private clinics catering for permanent residents and visitors.
 
Izmir international airport, which is served by year-round British Airways flights from the UK, is only 30 miles (50 km) or 35 minutes drive from the town. The tourist attractions of Efesus, an ancient city and Turkey’s most extensive archaeological site, and the House of the Virgin Mary are 15 miles (25 km) from the town. There are many other fascinating ancient sites dotting the countryside around Ozdere.
 
 
Why Ozdere?
 
·         Great beaches & unspoilt scenery
·         Friendly, laid back atmosphere
·         Authentic Turkish seaside town
·         Excellent value property, apartments from £36,500
·         Good prospects for capital growth
·         Easily accessible from the UK
 
 
Ozdere Property Highlights
 
Gokdere Apartments
 
The Gokdere Apartments are located in the friendly seaside town of Ozdere, just 5 minutes walk from the beach. The two bedroom apartments enjoy sweeping views of the sea and the Greek island of Samos or the unspoilt mountains behind the resort. The complex is built to a very high standard using top quality materials and has a communal swimming pool and an on-site caretaker.
 
Price: Euro 46,000-75,000 (£36,500-£59,000)
 
Contact Buying in Turkey for more details:
Tel 0845 3513551
 
 
Miranda Apartments
 
The Miranda Apartments are located near the centre of the seaside resort of Ozdere, just minutes walk from the beach, shops and restaurants. The apartments enjoy unobstructed views of the sea and the Greek island of Samos from the first floor upwards. They are excellent value for money and represent a fantastic investment opportunity in a central location with good potential for lettings.  The complex of 2 bedroom apartments and 3 bedroom penthouses has a large communal swimming pool and an on-site caretaker.
 
The two bedroom apartments cost Euro 60,000-115,000 (£47,000-£91,000). The 3 bedroom apartments and penthouses cost Euro 120,000-140,000 (£95,000-£111,000). Apartments come with a fully equipped kitchen with a hob, oven & extractor fan, fridge-freezer, dish washer & washing machine included in the price. Bathrooms have a shower and Jacuzzi bath.
 
Contact Buying in Turkey for more details:
Tel 0845 3513551
 
 
For advice on property in Turkey contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
 
A free copy of the best-selling Buying in Turkey guide, first published in 2005, can be downloaded at www.buyingin.co.uk

Renting your Turkish property

by Charlotte Ashton Turkey

 

Many people buying in Turkey want to rent their property out for part of the year. The promise of rental returns on top of strong capital growth has attracted investors; while those buying primarily for their own use often decide that a few weeks rental can cover the cost of maintaining their property. The Turkish holiday rental market has huge potential with the country expecting 24 million foreign tourists – of whom well over 1 million will be British – this year.
 
“The start of low-cost flights into the Turkish resorts, with Easyjet now flying Gatwick-Dalaman four times a week, will be a huge boost to the fledgling holiday lettings market,” explains Dominic Whiting, editor of the Buying in Turkey guide. “However, at present, it is much less developed than in countries like France or Spain and property buyers should have lower expectations.”
 
Property buyers should also bear in mind that rapid development has created a large pool of rental accommodation, with an over-supply in some of the Turkish resorts.
 
“This doesn’t mean it isn’t possible to earn a good income from rental – easily enough to cover maintenance costs and bills. But it makes it very important to choose the right kind of property in a good location, if rental is a primary concern,” says Dominic Whiting, editor of the Buying in Turkey guide. “It is also unwise to rely on rental income to finance your purchase, no matter what the estate agent promises!”
 
The rental season in the coastal resorts is May-October, with July and August the busiest months. In resorts such as Alanya, Altinkum and Kusadasi, which are popular with families, apartments and small villas on complexes are the easiest type of property to rent. While in the more upmarket resorts, such as Kalkan and Kas, which are popular with independent travellers, large villas with pools offer the best rental returns. The Aegean resort of Cesme, which is very popular with Turkish holidaymakers from the major cities, has a buoyant rental market in summer with gross yields of 5-6% possible. However, serious buy-to-let investors should look to the main Turkish cities where the rental market is year-round and solid yields can be achieved.
 
Many Turkish developers provide management services, including cleaning, gardening, maintenance and welcome baskets, for a set annual fee or a commission of 15-20% of the rental income. Good management is essential, particularly if you are not around yourself. Marketing your property is also important. Some specialist travel companies offer contracts for suitable properties in areas like Kalkan and Bodrum. But most owners choose to advertise in the local press or on the internet, while others rely on friends and family to spread the word.
 
 
Guaranteed rental schemes
 
Rental guarantees are sometimes offered by estate agents or developers in Turkey. Simply put, these guarantees are a commitment to return a percentage of the purchase cost of a property to the buyer each year for a fixed term. Ostensibly, the developer recoups this money by renting out the property. This sounds an attractive proposition, but rental guarantees should be examined closely.
 
Firstly, unscrupulous companies may simply be inflating the sale price of the property in order to cover the rental. Buyers should shop around carefully to see the cost of comparable properties in the same area. Find out whether the developer has an agreement in place with a travel company or lettings agent. If not, then how do they plan to find tenants and ultimately pay the guarantee? Examine the fine print of your contract to see who is actually guaranteeing you the money.
 
´Rental guarantees are marketed with alarming regularity,” says Paul Owen, CEO of the Association of International Property Professionals. “The simple rule is: if it is not in the contract, it´s not guaranteed. Potential rental incomes are often re-classified by salesmen as ´guaranteed´, though this is never in writing. Check the contract and recognise that no mention means no guarantee. Even rental guarantees in the contract should be scrutinised by an expert. Make sure you hire a lawyer to check them before you sign anything.”
 
For more information about Turkish property download a free copy of the Buying in Turkey guide at www.buyingin.co.uk or call a property adviser on 0845 351 3551.
 
 
Buying in Turkey: A Complete Property Buyer’s Guide to Turkey
2007/8 edition
Edited by Dominic Whiting
Edition 3, 140 Pages, RRP £9.95
Published 15 July, 2007
ISBN: 978-0-9550890-5-3

“We Found the Perfect Property in Turkey on eBay!”

by Louise Turkey
No strangers to hedging their bets on eBay, the online auction house and marketplace, Ken and Tanya Griffith from Bristol have successfully bid for anything and everything on eBay, from cars to burger vans and from porcelain to…property! 
Here’s their story.
 
Ken and Tanya Griffith, who run a busy pub and juggle their time between an active family life with their three children and the demands of being hands on landlords, were using the internet to research their dream of buying a property abroad when they stumbled upon an advertisement for an apartment for sale in Side in Turkey on their favourite online auction site.
 
“Well, like most things, when we get an idea we just run with it” explains Ken, who together with wife Tanya had been considering buying a holiday home in either Turkey, which Ken had last visited 15 years ago, or Morocco.
 
“We have done a lot of shopping on eBay over the past 5 years and while we were searching on eBay for some more bargains we came across an apartment that property agents Spot Blue were selling in Turkey.  We linked through to their website and the process began.  It really was as simple as that!”  says Ken.
 
The apartment being advertised on eBay by Spot Blue, and which was subsequently bought by Ken and Tanya, cost them GBP 52,500 and rather than having to bid for the property against other online competitors they were able to deal directly with the sales agent Spot Blue.
 
“We researched Turkey some more via the Spot Blue website and went into discussions with Julian Walker, the managing director of the company after deciding that yes, Turkey was the location we favoured, and we were very excited and surprised at how easily everything came together.”  Explains Tanya.
 
“It really was just like buying any other purchase on eBay except we didn’t have to bid for the property in the usual way!  There are more regulations when buying residential property so the contracts all had to be done separately to eBay.  But fortunately, because we’d chosen to buy with a reputable company it was all plain sailing.”
 
Ken and Tanya bought a two bedroom, two bathroom apartment in Side in southern Turkey on the Mediterranean coast and have paid a deposit and their first payment from savings, they are going to get a mortgage in Turkey to help fund the rest of the purchase.  They are going to view the property for the very first time this month and intend to use it as a family holiday home away from the hustle and bustle of their hectic lives in the UK.
 
In speaking about the purchase, Julian Walker from Spot Blue explains that: “we use eBay to advertise our properties because it’s an excellent way to introduce the fantastic range of apartments and villas that we have for sale across the whole of southern Turkey to a wide audience. “
 
“We don’t generally suggest that our clients buy off the internet without having first viewed the development, not having spent at least a little time with us in Turkey…but if buyers like Ken and Tanya come along who have very little time but a very definite idea of what they want, I personally will work with them to make sure that they are well taken care of throughout the purchase process.”
 
Ken and Tanya can certainly verify that this was the case for them: “Julian has been very professional, with no hard sell and plenty of real advice.  We felt we could completely trust him and he is very efficient with follow up calls and general processing of information.  We look forward to working with him more in future as the rest of the sale goes through.”
 
The Griffith’s story is becoming less unusual as greater numbers of would-be property buyers begin their research into homes abroad via the internet.  Locations are decided upon, inspection trips are booked, viewing appointments are made, and in an increasing number of circumstances, deals are closed via the internet with the buyer making limited contact with agents and sometimes even less contact with the property that they are purchasing.
 
Discussing the growing trend of buyers using the internet to at least begin their research into buying a home abroad Julian Walker advises: “people need to be aware that they are taking a risk if they do no greater research than simply looking at property details on the internet before buying. 
 
“We encourage all interested parties to take advice, to get independent legal representation and to certainly take a trip with us to Turkey to look at property.  So far this year alone we have managed to maintain a 100% sales success rate with clients who take this advice from us and come with us to Turkey.
 
There are clients like Ken and Tanya who have time limitations or even a very clear idea of what they want to buy abroad, and we can of course accommodate their needs too, but for such buyers I would always advise the following”: –
 
“Get a lawyer who acts independently to your agent or developer, use a reliable estate agency which belongs to relevant trade bodies, thoroughly research areas, prices and rental potential and make sure you understand your contract and what you are signing.  What’s more, only ever pay monies into lawyers’ or agents’ client accounts or escrow accounts, and make sure you retain some part of your payment until you take delivery of your title deeds.”
 
Currently being advertised for sale by Spot Blue via eBay are one, two and three bedroom off plan apartments in Altinkum.  They are for sale from GBP 22,950 and are within a resort style development that affords homeowners access to communal swimming pools, a pool bar, gymnasium and fitness suite for example.  There is also onsite security and a lettings service making these excellent investment properties or holiday homes in the sun.
 
For more information please contact Spot Blue directly on 020 8339 6036 or visit www.spotblue.co.uk.
 

Back to business as the temporary freeze on foreign buyers is lifted

by Charlotte Ashton Turkey

 

The Turkish government has announced the end of a temporary suspension on the issuing of title deeds to foreign buyers. Brought into force on 15th April by order of the country’s Constitutional Court while parts of the legislation relating to foreign buyers were re-drafted, a parliamentary commission has passed the changes and the freeze will end in the next 2-3 weeks.
 
“The changes will have no effect on most foreign buyers and relate to the amount of land foreigners are entitled to buy,” explains Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk.
 
“Previously, non-nationals could buy up to 0.5% of the land in a province; this is now limited to 10% of any town, city or resort, which is still a huge area.”
 
Turkey is growing in popularity with British property buyers due to its excellent value for money, great scenery and beaches and the low cost of living – approximately 1/3 of the UK’s. Apartments are still available on the coast from as little as £35,000, with villas from £75,000.
 
There are over 73,000 foreign-owned properties in the country, mainly in Istanbul and the coastal resorts, and £1.5 billion was invested in the Turkish real estate market by foreigners in 2005.
 
Access from the UK is improving with new routes and the arrival of low-cost carrier, Easyjet, who operate several weekly flights from Gatwick to Istanbul and Dalaman. Government-led investment is also transforming the coastal tourist areas with new airports, roads, marinas and golf courses in resorts such as Dalaman, Bodrum, Altinkum and Alanya.
 
 
What foreigners can buy
 
  • Property and land within an officially zoned planning area which includes all the country’s towns, cities and resort areas
 
What foreigners can’t buy
 
  • Property and land in rural areas (un-zoned)
 
  • More than 10% of a planning area
 
 
Buying in Turkey property advisers are on hand to offer help and advice to potential buyers (Tel: 0845 351 3551 / www.buyingin.co.uk). They can discuss property requirements; advise on the best places to buy and give plenty of information about the properties available and finance options including UK and Turkish mortgages.
 
 

The UK’s leading Turkish property guide now free to download

by Charlotte Ashton Turkey

 

The UK’s best-selling guide to buying and owning property in Turkey, Buying In Turkey, is now available free online as a PDF download. First published in 2005 and updated annually, the 138-page guide is packed with useful information and advice, including a look at the Turkish economy and property market; legal advice from a Turkish property lawyer and a step-by-step guide to the buying process and purchase costs. The guide also takes an in-depth look at 17 of the most popular areas to buy with a run-down of local attractions and facilities, property prices and an assessment of the rental potential in each.
 
The recently launched Buying In Turkey Collection features a carefully chosen selection of Turkish property in the best locations, with prices from just £29,000 for a budget apartment to £159,000 for a luxury villa with swimming pool and wonderful views.
 
According to official figures there are over 22,650 British-owned properties in Turkey, with the country’s excellent climate, beautiful scenery and the Turkish government’s ambitious tourism development plans attracting a growing number of holiday-home hunters and investors. A NatWest survey of mortgage lenders published in March this year, predicted that Turkey would be the third most popular destination for British buyers in the next three years. Shrugging off worries about global recession, the Turkish property market is expected to perform well this year, with average price increases in the resorts of at least 15%.
 
To download a free copy of the Buying In Turkey 2007/08 guide visit www.buyingin.co.uk/about-us or call Tel:0845 351 3551
 
For more advice about purchasing in Turkey or for information about the Buying in Turkey Collection call 0845 351 3551 or visit www.buyingin.co.uk.