Turkish economy sees 6% growth

by Charlotte Ashton Turkey

Confidence in the Istanbul property market, tipped by experts as an investment hotspot for 2010, reaches another high as latest reports reveal a 6% growth in the Turkish economy. 

As reported in the Wall Street Journal, Turkey’s GDP rose an impressive 6% in the last 3 months of 2009 compared to the same period in 2008, far exceeding the 4.5% growth forecast.

Such strong growth has also prompted experts to increase forecasts for growth for 2010 from a conservative 5.4%. This latest data from the Turkish Statistical Institute demonstrates just how far Turkey has outperformed many economies in the region and indeed Western Europe and should bolster investor confidence in the future prosperity of the nation.

Population of Istanbul increasing faster than 118 countries

One of the key drivers of the booming property market in Istanbul is the demand for quality accommodation from the vast numbers of migrants to Turkey’s second city.

The latest figures from the Turkish Statistics Institute report that the population has expanded by 341,322 people in the last two years alone with this figure set to rise in 2010 as the economy recovers and employment opportunities increase.

With current growth rates of 1.7% per annum, Istanbul’s population is increasing more rapidly than 118 countries including Greece, Belgium, Hungary and Sweden; now is the perfect time for investors to enter the lucrative buy-to-let market.

Steven Worboys, MD of property experts Experience International, comments:

“The Istanbul property market is going from strength to strength. Demand for quality investment properties remains very high with our early entry investors already seeing up to 37% capital growth which is certainly unprecedented in today´s marketplace.”

One development in particular is capitalising on this demand. The Hamptons comprises a limited number of luxury studio apartments located in the prosperous district of Beylikduzu on the European side of the city. The contemporary apartments offer sea and city views, modern interiors, superb on-site facilities and easy access to central Istanbul.

Investment is from as little as £13,350 and offers a 2 year 7.5% p.a. rental guarantee. For more information contact us today on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

Istanbul poised to kick-start the European property market recovery

by Charlotte Ashton Turkey

Ironically not yet a member of the European Union, Turkey’s biggest city, Istanbul which strategically straddles the Bosphorus Strait, holds the perfect recipe for kick-starting the recovery of the European property market according to the experts at Experience International.

Drawing on the fundamentals of successful property investment, supply and demand, Istanbul trumps many other European cities with an ongoing influx of some 400,000 new inhabitants each year yet an annual housing shortage of 250,000 units. This combined with the availability of mortgage finance for both domestic and foreign investors, low interest rates and minimal exposure to international credit markets has created a very appealing global real estate environment.
As Steven Worboys, MD of Experience International, comments,

“Investors seek markets which hold real confidence; those which deliver not just in the short term but also long term gains. Many are cautious about investing in Europe, especially in ‘PIGS’ (Portugal, Ireland, Greece and Spain), however Turkey’s banking system being heralded as “one of the strongest and least-leveraged in Eastern Europe” by Standard & Poor, who also recently upgraded the nation’s credit rating, provides welcome reassurance. Something which many other European nations can take heed from.”
The latest statistics released paint a promising picture for both for Istanbul and Turkey as a whole. Regular monthly index Redin.com reported a 0.49% property price increase in Istanbul in January 2010 and 116,000 homes sales were made nationally in Q4 2009, a substantial 25% increase compared to Q4 2008.  
Investors can also smile as even more dramatic price increases, up to 40% according to experts, are forecast for Istanbul due to the city’s status as European Capital of Culture 2010. Just as 76% house price increases were witnessed (Halifax Estate Agents, 2008) in Liverpool, Capital of Culture back in 2008, the positive impact of this accolade is highly anticipated by domestic and foreign property owners alike.
“Since launching our latest investment opportunity in Istanbul, Crystal Heights, demand from savvy investors who have identified the massive potential of the Istanbul property market has been incredible. Many are considering traditional European destinations but the numbers are just not adding up yet hence they are looking further afield, to the edge of Europe, where the security of the west meets the promise of the east.
“Due to its strategic location we expect to see a positive knock-on effect for Turkey’s European neighbours but the key to future success will rely heavily on the availability of finance. The recent support for Turkey becoming a “trusted European Partner” by Prime Minister Gordon Brown (16th March 2010) provides further encouragement that nation’s EU membership is on track, another positive indicator for investor confidence” concludes Steven Worboys.
With only 20% of properties in the Crystal Heights development, located on the European side of the city, being available to overseas investors, the units are selling very fast. Purchasing in Istanbul is straightforward; up to 70% mortgage finance available is available at interest rates as low as 4.8%. Prices remain affordable from £45,000 (fixed in sterling) for a 1 bedroom luxury apartment with a 2 year rental guarantee of 7% p.a. in place which is protection on completion of purchase.

For more information about Istanbul please contact Experience International on 00 44 (0) 207 321 5858, visit www.istanbul-property.com or follow us at twitter.com/experience_int. 

Signs of Recovery in the Turkey property market

by Charlotte Ashton Turkey

Turkey’s economy and real estate sector, though affected by the global economic slowdown, have held up well compared to others in Europe thanks in part to strong local demand and low exposure to international credit markets. The country’s solid economic performance was confirmed by a recent upgrade of its credit rating by Standard & Poor, with an analyst from the global ratings company commenting: “Turkey’s banking system is one of the strongest and least-leveraged in Eastern Europe.”

 
Official figures indicate the start of a recovery in the real estate sector with home sales up 25% in 2009 compared to a year earlier.
“This is promising news particularly as the property market in the coastal resorts will be kick-started by what is expected to be a record-breaking tourist season, with over 30 million visitors attracted by the country’s beautiful coastline and excellent value-for-money,” comments Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk
New air-routes from across the UK, a rapidly improving infrastructure and its position outside the Eurozone, will further promote Turkey as a top destination for British property buyers this summer.
Dominic Whiting continues: “Location and quality remain of key importance. Buyers should be looking for property in the best areas, which represents a solid investment as the market bounces back. It will remain a buyers’ market for the time being, with some excellent deals to be found, though I expect this to change as the slack is taken out of the market over the next 12-18 months.”
 
 
Top property tips:
 
Akkaya Gardens, Dalaman
Stunning award winning 2 and 3 bedroom apartments found in the unspoilt mountains of the Akkaya region. Prices start from £61,200 and only two apartments remain, ready for holiday use or rental from May.
 
Olive Grove Apartments, Akbuk
On the edge of this quiet resort backed by mountains, spacious two bedroom apartments and duplexes with large balconies overlooking a large pool. Excellent sea views. From £54,950.
 
Villa Lauren, Fethiye
2/3 bedroom duplex apartment in Ovacik, near famous Oludeniz lagoon. Fully furnished to a very high standard and with over £5,000 confirmed rentals for 2010 season. £75,000.
Lakeview Bungalows, Akkaya
Spacious 3 bedroom bungalows in Akkaya Valley in The Hills development from only £143,000 – £171,000. These properties are set in extremely generous plots, each benefiting for a kidney shaped pool and landscaped gardens. Excellent value properties.

For more details contact Buying In Turkey collection on 0845 351 3551 or visit www.buyingin.co.uk

Dream Villas for Less

by Charlotte Ashton Turkey

A warm Mediterranean climate, great value for money, and fantastic beaches and scenery have tipped Turkey as one of the top holiday destinations for sun-starved Brits this year. If your idea of the prefect break is lazing by the pool in your very own villa, the country has some fantastic properties at tempting, non-Euro prices too.

“With over 2 million British visitors expected in 2010, dozens of new flights have been launched from UK airports by the likes of Easyjet, Thomas Cook and Pegasus airlines, improving access to the Turkish sunshine,” adds Dominic Whiting, editor of the Buying in Turkey guide. “This makes the country an appealing choice for villa buyers, with the added attraction of a growing rental market, with lettings website Holidaylettings.co.uk reporting a 70% increase in enquiries for Turkey in 2009.”
With unspoilt countryside and great beaches, Dalaman makes an attractive location for a villa in breathtaking scenery. The Akaya valley, 15 minutes from Dalaman airport, is an exclusive rural retreat with restaurant, great facilities and a variety of villas and bungalows. The award-winning properties cost £136,000-£188,000, with a property management service available from developer Curbanoglu, Tel 0845 355 5625, www.curbanoglu.co.uk
Overlooking the Blue-flag awarded beach at Sarigerme and the new Dalaman Hilton Golf & Spa Resort, the Ocean View Villas have a contemporary design, 3-5 bedrooms and private swimming pools, with prices from £152,000-£245,000.
The small resort of Kalkan has some stunning villas, generally with amazing sea views, though the 2-hour drive to Dalaman airport puts off some buyers. Prices are relatively high thanks to the area’s cache, with a four-bedroom villa with pool costing from £180,000-over £250,000.
For discerning golfers the Lavender Villas are set in beautiful countryside less than 5 miles from the nearest golf course; and with another dozen courses within 20 minutes drive at Belek. The family resort of Side, with its beaches, Roman ruins, shops and restaurants is only 6 miles away. Built of stone in a traditional Mediterranean style with large gardens and swimming pools, the three and four bedroom villas cost from £186,900.
For villa-buyers on a tighter budget, the Melito Villas in the Aegean resort of Kusadasi are 4 bedroom homes built around a large communal swimming pool. A great beach is only 400 metres away. The villas are priced at £75,000. Alternatively, the 3 bedroom Dolphin Villas in the quiet resort of Akbuk near Didim are available from £95,000.
For more information about the villas in this article contact Buying in Turkey, Tel: 0845 351 3551, www.buyingin.co.uk

Istanbul tipped by experts as Turkish hotspot in 2010

by Charlotte Ashton Turkey

Istanbul, the city poised at a juncture where the security of the west meets the promise of the east, is tipped to be the property hotspot within Turkey in 2010 according to international property experts at Experience International. And this insight has been echoed in the latest Emerging Trends in Real Estate Europe Report released last week by PWC and the Urban Land Institute who rank Istanbul, European Capital of Culture, number 1 in City Development Prospects in 2010.

Turkey has enjoyed significant growth over the past couple of years and is now a permanent fixture on the international property scene, some may say at the expense of other more traditional destinations such as Spain. This non eurozone country has capitalised on its attractive climate, stunning Aegean and Mediterranean coastlines, low cost of living and ease of access to the UK with 73,000 overseas nationals (Turkish Statistical Institute) already calling Turkey home.
It is not only demand for holiday homes which is fuelling Turkey´s property boom however; savvy investors are turning their attentions to rapidly growing cities such as Istanbul where the significant housing deficit presents opportunity.
As Managing Director of Experience International, Steven Worboys, comments,
“The success of Istanbul’s property market is a simple matter of supplyand demand. Due to the rapid growth of the city (some 400,000 newinhabitants arrive each year to work or study) the existing housingstock has reached capacity.
It is estimated that 250,000 new homes per annum are required until2015 according to the Real Estate Investment Trust Association tomeet the demand generated by foreign as well as domestic investment.”
Due to elevated market prices and limited availability of land within the central business districts, developers are now turning their attentions to the thriving suburbs of Istanbul constructing modern, western style residences aimed to meet the demands of the burgeoning middle classes.
The town of Beylikduzu for example located within Büyükçekmece county on the European side of the Bosphorus, is where the new Crystal Heights apartments and duplexes will be constructed. Crystal Heights affords a strategic location close to the two major motorway routes into central Istanbul, 20 minutes from Ataturk International Airport and awaiting a new metro-bus link and metro system connection yet only 10 minutes from one of the most popular seaside resorts of the city.
As Worboys comments,
“Beylikduzu has one of the strongest growth scenarios due to its proximity to the city centre combined with the benefits of living in a well serviced environment away from the over-crowding. The population of this suburb is expected to grow three fold within the next 5 years to over 1 million inhabitants further strengthening the perfect investment environment for growth and excellent rental returns. The contemporary styled residences of Crystal Heights offer all modern conveniences with first class on-site amenities including rooftop swimming pool, fitness centre and underground parking.”
As with other areas of Turkey, purchasing in Istanbul is straightforward with no restrictions on foreign ownership of property and up to 70% mortgage finance available. Prices remain affordable with apartments in Crystal Heights available from £45,000 (fixed in sterling) for example. Capital growth is currently estimated at 15% and rental yields of up to 10% per annum expected (Crystal Heights offers a 2 year rental guarantee of 7% p.a. which is bank bonded on completion of purchase).
For more information about Istanbul and this unique climate in world real estate please contact Experience International on 00 44 (0) 207 321 5858, visit www.istanbul-property.com or follow us at twitter.com/experience_int.
 
——————————–ends—————————
 
Editor´s Notes:
Top 10 Reasons to Invest in Istanbul
            
  1. Jones Lang LaSalle rated Istanbul as the 18th largest city in terms of GDP
  2. Increasing FDI with multinational companies such as Sony Ericsson, Vodaphone, HSBC and Tesco setting up offices creating an excellent long term rental market
  3. 55% of all trade in Turkey is generated from Istanbul
  4. Thriving city of 14 million people, 17,8% of Turkey’s population
  5. Istanbul is the European City of Culture 2010
  6. Rental yields of 7% – 10% are being witnessed
  7. Demand for housing far exceeds supply with the gap estimated at 250,000 units p.a.
  8. Foreign investors can exit into a local market of first time home buyers
  9. Construction of a third international airport was announced in 2009 on the European side at Silivri
  10. Government-led plans to decentralize the city with massive investment in infrastructure and public transportation

Saint Tropez comes to the Turkish Aegean

by Charlotte Ashton Turkey

International marina operator Camper & Nicholson have announced the 2010 opening of a new 400-berth marina in the Turkish Aegean resort of Cesme. Located in the shadow of an imposing Genoese fort that dominates the sleepy seaside town, the new marina development will include a sophisticated waterfront arcade, designed by Atelier Xavier Bohl, creators of the world-famous Port Grimaud in St Tropez.

”The marina should breathe new life into the town’s waterfront, while promoting Cesme to a wider international audience of holidaymakers and property buyers,” says Dominic Whiting, editor of the Buying in Turkey guide ( www.buyingin.co.uk ).
The opening of the Cesme marina comes hot on the heels of the inauguration of the $70 million, 600-berth D-Marin marina in the Turkish resort of Didim in May, 2009. There is also speculation that work on a long-stalled marina in Dalaman will commence next year.
These new marinas are part of the Turkish government’s ambitious strategy to increase marina capacity along the country’s beautiful Aegean and Mediterranean coastline from 25,000 berths to over 50,000 berths by the year 2023.
“The ultimate aim is to double the country’s share of the lucrative Mediterranean yacht tourism market from its present 5 percent to 10 percent,” explains Dominic Whiting, editor of the Buying in Turkey guide ( www.buyingin.co.uk ).
 
Located outside the eurozone, Turkey is attracting boat owners with its lower mooring fees and cheaper cost of living, as well as its beautiful unspoilt coastline – factors that have been attracting foreign property buyers for some time. Indeed, property close to Turkish marinas is available at a fraction of what it would cost in France, Spain or Portugal. For example, 2 bedroom apartments in Altinkum, close to the D-Marin Didim marina start from only £45,000. Or a fully furnished 3-bedroom apartment on a small complex with swimming pool just a 5 minute’s stroll from the new Cesme marina for £87,750. It is still possible to find a bargain within 15 minute’s drive of the country’s most upmarket yachting resort, Gocek, with three-bedroom villas in the beautiful Akkaya valley from £138,000.
For more information about these properties contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
——— Notes to Editor ———
On the market:
Akkaya Gardens, Dalaman 
Stunning award winning 2 and 3 bedroom apartments found in the unspoilt mountains of the Akkaya region. Prices start from £61,200 for more details contact Buying In Turkey collection on 0845 3513551 or visit www.buyingin.co.uk
Seabreeze Apartments, Sarigerme, Turkey
A small, exclusive development of 2 bedroom apartments and duplex’s situated within beautiful natural surroundings including orange groves, cotton and sunflower fields. These apartments offer stunning sea views set on the hillside and just a short walk from Sarigerme. Only 15km from Dalaman International Airport these properties are in a prime location. Prices start from £90,000 for more information contact the Buying In Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.

Turkey on top for travel and property in 2010

by Charlotte Ashton Turkey

With the credit crunch still affecting wallets, holidaymakers are keen to find the best value deals. According to tour operators, bargain hunters are favouring pocket-friendly destinations such as Turkey, with budget airlines introducing new services to cater for the growing demand.

Turkey is one of Britain’s most popular holiday destinations for 2010, according to The Co-operative Travel, which has reported an 82 per cent increase in bookings to the Turkish airport of Dalaman compared to the same period last year. Meanwhile, Thomas Cook is adding 20 new Turkish hotels this year to keep up with growing demand.
Turkey is increasingly popular with independent traveller too. Search results released by internet travel website Skyscanner show that Dalaman is the 5th most popular airport searched for from UK airports in 2010.
Growing demand has seen the introduction of many new flights for the 2010 season. Budget airline easyJet has announced five new services to the Turkish resorts of Bodrum and Dalaman from Bristol, Stansted and Gatwick, to add to their existing Istanbul and Dalaman routes.
Turkish budget carrier Pegasus Airlines will fly 17 routes from the UK, including new services from London to Bodrum and Dalaman; Manchester to Antalya and Dalaman, and Birmingham to Antalya and Bodrum. Jet2.com has announced low cost flights to Dalaman from East Midlands Airport and Thomas Cook has added weekly flights from Exeter to Dalaman to its existing services.
More British tourists and easier accessibility from the UK will have a profound effect on the Turkish property market, with demand for property expected to rise significantly according to Dominic Whiting, editor of the Buying in Turkey guide.
“More budget flight options, particularly from regional airports, and the growing number of British tourists holidaying in Turkey is excellent news for the property sector and promises to add to the country’s appeal with home buyers, boost market activity and speed up the post-credit crunch recovery,” says Whiting.
For more information contact Buying In Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.
—– ENDS —–
On the market in Dalaman:
The Hills – Olive Grove Villas, Akkaya, Dalaman
Stunning award winning detached 3 bedroom villas, in Akkaya Valley in The Hills development from only £152,000 to £156,000. Contact Buying In Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk for more information.

Family Holiday Heaven

by Charlotte Ashton Turkey

 

Looking for the perfect place for a family holiday in 2010? Turkey may just be it. Now Britain’s Mediterranean escape of choice, over 2 million British holidaymakers visited last year – many of them families. So why is Turkey so popular, and which are the best areas to buy a dream holiday property in the sun?
 
Undoubtedly, the main draw for most sun-starved Brits is the country’s glorious weather, with sunshine and blue skies guaranteed throughout the long summer season – which stretches from May to October. The weather at Easter and the summer and autumn half-term holidays may actually be better for younger kids than the hottest months of July and August when temperature are well into the 30’s, though even in the height of summer most coastal area have a cooling breeze.
 
The next ingredient for a happy holiday – a sandy beach – can be found all along the Turkish coast. Some of the best beaches are Sarigerme in Dalaman, Oludeniz near Fethiye, Patara near Kalkan and the beaches around Belek and Side in Antalya province. But there are many other smaller coves and sandy stretches to lay out your beach towel and build sand castles.
 
For older children there are water sports like windsurfing, sailing, water skiing and parasailing available in most resorts and tours can be arranged to the historic sites and ruins that are scattered along the Turkish coast.
 
Another important draw for families is how child-friendly Turkey is. Wherever you go, from shops to restaurants, expect the children to be doted on and spoilt. It is also an extremely safe country for you and the kids, with low crime-rates compared to the UK.
 
Reached in 3-4 hours flying time from UK airports, there is no long-haul nightmare getting there and back. The choice of flights is good with charter operators like Thompson and Thomas Cook and no-thrills airlines Easyjet, who fly from Gatwich to Dalaman, Pegasus and Flyglobespan, who operate from Scottish airports.
 
Sitting outside the eurozone makes Turkey an excellent value holiday destination. Even before the credit crunch Turkish property was significantly cheaper than traditional Mediterranean favourites like Spain. With the global slow-down prices for resale property have dropped in the main resorts and developers are offering some excellent deals. Most new complexes in Turkey have been designed specifically with families in mind and have great facilities such as large swimming pools and tennis courts to keep the kids entertained for hours. It is also likely they will find other English-speaking friends to play with, leaving the adults free to relax.
 
 
Checklist for the perfect family holiday home
 
  1. Choose a property within 1 hour of the nearest airport
  2. Choose a development with good communal facilities
  3. Choose an area with activities locally
  4. Select a resort where there are other English-speaking kids
Holiday Home Hot Spots
 
Kusadasi
 
Located on the Aegean coast close to Izmir airport, Kusadasi is popular with families because there is so much to do in the area. There are great beaches, water parks and the historic ruins of Efesus. The nearby Dilek National Park is perfect for family picnics on the beach.
The Melito Villas are large 4 bedroom semi-detached villas within easy walking distance of the beach. There’s a huge communal pool visible from all the houses, so you can keep an eye on the kids while relaxing on your terrace. Prices from £71,500, with mortgages available.
For details contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
 
 
 
Dalaman
 
Unspoilt Dalaman has plenty to keep the family busy including boat trips, nature tours, mud baths, white-water rafting and the Blue Flag beach at Sarigerme, which is one of the few beaches in Turkey with life guards. For the adults, an 18-hole golf course is opening in 2010 at the Hilton Dalaman Golf and Spa Resort. The international airport has plenty of flights from the UK and the kids can be playing in the pool within an hour of touch down.
 
Akkaya Gardens is a family-friendly development with excellent facilities including a large outdoor swimming pool, an indoor pool, sauna, a fitness centre and a café. The surrounding woods are great for exploring and there are exciting boat trips up the Dalaman river gorge. The last remaining 2 bedroom apartments start from £54,500, with 3 bedroom villas from £132,000. For details contact Curbanoglu, Tel 0845 355 5625, www.curbanoglu.co.uk
 
 
Altinkum & Akbuk
 
Good beaches and lots of activities for the kids make Altinkum a firm favourite with British families. Nearby Akbuk is a lot quieter, but has some great sandy beaches too. The area has some of the cheapest property on the Turkish coast with two-bedroom apartments with communal pools starting from £45,000. For details contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
 
 
 
 
Notes for editors
 
Buying in Turkey
Buying in Turkey is the UK’s leading independent guide to buying and owning property in Turkey. First published in 2005, the 140-page guide has helped hundreds of people purchase villas, holiday apartments, investment properties and retirement homes in Turkey. The guide is available for free download from www.buyingin.co.uk

Turkish Rentals Triumph over Recession

by Charlotte Ashton Turkey

 

Summer 2009 was never set to be a big year for the number of Brits holidaying abroad, with much talk of hard-hit families opting for UK breaks and shelving the idea of foreign sun, at least until the recession started to abate. But in reality, things were somewhat different. Undoubtedly, many cash-strapped British holidaymakers did stay at home; but foreign rental property owners also experienced a successful summer according to a market survey by leading overseas lettings company, Holiday-Rentals.
 
“While the travel industry in general struggles, demand for rentals is going from strength to strength as travellers realise they can rent a whole home for less per head than a hotel and stretch their budget even further by taking advantage of self-catering facilities,” commented Holiday-Rentals Managing Director Courtney Wylie.
 
Good value for money is not the only reason that people are increasingly looking to the private rental sector for holiday properties; rentals also offer greater flexibility, allowing travellers to book flights and accommodation separately themselves, often online.
 
One country that has emerged as a prime holiday destination for those looking for a rental property is Turkey. Popular with families and boasting a warm Mediterranean climate, perfect for those wanting a dose of sunshine, 2009 has been a very successful year for the country’s holiday rental market, with holidaylettings.co.uk reporting a 70% increase in the number of enquiries about the country in 2009. 
 
This popularity has been backed up by statistics released by the Turkish Ministry of Culture & Tourism, which show that over 24 million tourists visited Turkey in January to October 2009, an increase of 1.96% on the same period in the year before. The number of British visitors grew to 2.3 million, an impressive increase of 9.5% within a year.
 
A key draw for British holidaymakers is that Turkey sits outside of the Eurozone and with the pound currently so weak against the Euro, this is a great benefit to those looking to make their money stretch further.
 
According to the Q3 Travel Money Report from M&S Money, the Turkish lira was the third most popular currency exchanged, behind only the Euro and the US dollar. James Yerkess, M&S Travel Money Manager comments:
 
‘The increased strength of the euro against the pound means that holidaymakers have been looking at destinations outside the Eurozone… The Turkish lira is one of the few currencies against which the pound has held its value since last year, meaning tourists heading to Turkey will still see their cash go further.´
 
The future looks positive with the Turkish Ministry of Culture & Tourism aiming to attract 63 million visitors annually to the country by the centenary of the Turkish Republic in 2023. Ertugrul Gunay, the country’s Minister of Culture and Tourism, is looking towards a bright future:
 
“We are delighted with Turkey’s tourism successes and the continued expansion in visitor numbers to Turkey despite the economic downturn. Looking ahead, we’re confident that Turkey’s tourism industry is poised for further growth.”
 
This official optimism is backed up by new flight routes being announced to the country. Among the airlines with new routes to Turkey is low-cost operator Pegasus Airlines which recently announced several new flights for 2010, with the company set to run 17 routes between Turkey and the UK, including London to Istanbul, Bodrum and Dalaman and Manchester to Antalya and Dalaman.
 
This is good news for those renting and buying property in Turkey, as improved accessibility increases interest in a destination and will in turn increase demand for private holiday rentals. Indeed, holidaylettings.co.uk reported that enquiries for Turkey outstripped those for perennial favourites Florida and Portugal in September and October.
 
With unspoilt scenery and great beaches, Dalaman is one destination that is set to gain from the improved air links and increased tourist numbers. Situated on Turkey’s south-west coast, Dalaman is an attractive option for those looking to cash in on the growing popularity of Turkey and the country’s budding private rental market. Dominic Whiting, editor of the Buying In Turkey property guide (www.buyingin.co.uk), believes that now is a good time to invest in the area,
 
“Dalaman is a beautiful Turkish destination which has much to offer those looking to buy property to rent out. It has a wealth of activities and natural attractions including yachting, hot springs and some of Turkey’s top beaches, which give it a wide appeal to holidaymakers. With the private rental market growing in such a successful manner, investors can expect solid returns. The future certainly looks bright for Turkey.”
 
Akkaya Gardens, just 15 minutes from Dalaman, is an award-winning development that offers prime rental opportunities for those looking to invest. The complex has a large communal pool, indoor and outdoor pools, fitness centre, sauna and sweeping views of the surrounding mountains and picturesque lakes. Due for completion by the end 2009, ready for the 2010 rental season, two bedroom, two bathroom apartments are available from £54,500. Nearby villas are available from £136,000. For more details contact the Buying In Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.

What will 2010 hold for Turkey?

by Charlotte Ashton Turkey

 

The property market along the Turkish coast has certainly cooled since the heady pre-credit crunch days when excitement about EU entry, rocketing property values and new Turkish mortgages fuelled an unprecedented rush of British buyers to take the plunge into what was enthusiastically promoted by overseas estate agents as the ‘next big thing’.
 
But crisis or no financial crisis, Turkey’s pleasant Mediterranean climate, unspoilt scenery and low cost of living – factors which have attracted over 74,000 foreign property buyers, including more than 22,000 Britons – look set to begin drawing British property buyers in ever increasing numbers again in 2010.
 
Turkey has managed to weather the global slow-down fairly well. Due to strict regulations, the country’s banking sector has been spared the direct effects of the credit crunch and despite a major slowdown, the Turkish economy looks set to move out of recession next year.
 
Being outside the Eurozone, Turkish property represents excellent value for money, particularly as prices in most of the large resorts have dropped significantly since their peak in 2007.
 
“In what is now a buyer’s market, there are certainly some bargains to be found, although purchasers should still be looking for high-quality property, which will offer the best investment long-term,” says Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk. “Looking forward, there is much to be optimistic about and I expect a steady increase in market activity from spring 2010 as the tourist season starts, and global economic conditions and consumer confidence in the UK improve.”
 
The Turkish tourist industry has experienced remarkable growth over the past few years, particularly when compared with other Mediterranean destinations such as Spain. The country received more than 24 million international tourists in 2009 with year-on-year figures up despite the economic gloom. A record 2.1 million British tourists visited in the first 9 months of the year, making Turkey one of the top holiday destinations for Britons. Official forecasts are upbeat, with tourist arrivals expected to top 30 million in 2010 according to Ertugrul Gunay, the Turkish Culture and Tourism minister.
 
Investment is still being channelled into the development of the coastal areas, albeit at a slower pace, as part of government plans for Turkey to become one of the world’s top five tourist destinations by 2023. On the ground, this means new airports, roads, golf courses, marinas and hotels, which will widen the country’s appeal for property buyers, as well as tourists. The 600-berth Didim Marina, completed by Dogus Holdings in May 2009, is a good example, with new marinas opening in Cesme and Dalaman in the next few years.
 
Improving air access from the UK will be another important factor promoting the Turkish property market in 2010. Defying global economic turbulence, low-cost Turkish carrier Pegasus Airlines reported a doubling of passengers in 2009, with 17 flights from the UK to Turkey next year, including new direct services from London to Bodrum and Dalaman; Manchester to Antalya and Dalaman, and Birmingham to Antalya and Bodrum. Easyjet will be continuing its recently launched flights to Dalaman and Bodrum from London and Manchester next year. While Jet2.com has announced low cost seat-only flights to Dalaman from the airline’s new base at East Midlands Airport and Thomas Cook has added weekly flights from Exeter to Dalaman to its existing services.
 
 
Area focus – Dalaman
 
Dalaman is an area to watch in 2010 as it has avoided the over-development of the larger Turkish resorts. It has some wonderful scenery, great beaches and lots of activities, like white-water rafting, hot-springs, yachting and walking, which give it a broad appeal. The Dalaman Hilton Golf & Spa Resort, with its 18-hole course, is opening in the summer.
 
Easyjet (www.easyjet.com) and Pegasus ( www.flypgs.com ) fly into Dalaman’s large international airport from Gatwick and Manchester; with Flyglobespan (www.flyglobespan.com) operating weekly flights from Aberdeen, Edinburgh and Glasgow.
 
Curbanoglu, (Tel 0845 355 5625, www.curbanoglu.co.uk ) have apartments from £61,200 and villas and luxury bungalows with private pools from £136,000 in the beautiful rural area of Akkaya, which overlooks a lake and unspoilt mountains just 15 minutes from Dalaman town and the international airport. The unspoilt valley is being turned into an exclusive residential and holiday community with communal facilities including a stream-side restaurant and bar, indoor and outdoor pools, fitness centre, sauna, tennis courts – all spread over 100,000 acres of beautiful woodland and meadows.
 
For more information about Turkish property or to view a selection of the best Turkish property contact Buying in Turkey, Tel: 0845 351 3551, www.buyingin.co.uk
 
 
Notes for editors
 
Buying in Turkey
Buying in Turkey is the UK’s leading independent guide to buying and owning property in Turkey. First published in 2005, the 140-page guide has helped hundreds of people purchase villas, holiday apartments, investment properties and retirement homes in Turkey. Available for free download from www.buyingin.co.uk