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Coastal Turkey... the where’s, why’s and how’s to buying a Turkish home.
Buying a property anywhere in the world is a big commitment and homework should be done first. There are many differing views about the where’s and why’s to invest in specific areas, and the what not’s to consider that can seem over whelming if you don’t know the country or a region well.
“Location. Location. Location.” This applies to Turkey as well!
Choosing the right location for a property in Turkey is as important as it is when buying your home in the UK. Turkey is a vast country and the coastal regions vary considerably in landscape, size, popularity and price. Turkey has only featured heavily on the property map over the past 10 years or so, it has only been the last 5 or 6 years that have seen Turkey boom in development. The well trodden tourist regions of Fethiye, Antalya, Alanya and Bodrum have seen the greatest changes. Ever increasing tourist numbers and investment demands led to these regions changing yet, thankfully, most remain Turkish in feel due to strict building laws limiting the size and design of new builds. Here you can find the best selections of resale properties, newly built villas and apartment complexes gaining premium rental returns, and a good selection of quality private villas and luxury homes. These areas tend to be a little pricier as building land is now limited and demand stays strong, but they are a good bet in terms of shorter term capital gain, holiday homes and rental returns, and certainly still the most popular choices of location for most. With prices of 2 bed apartments starting at around £50,000, and villas from around £100,000, they contain the full mix ; great location, value for money and wonderful investment prospects.
A growing number of specialist Turkey agents are now highlighting developments in the smaller, more traditional towns and villages surrounding main resorts. For those looking for something a little quieter, and more for your money, these areas are also worth consideration. These areas tend not to be so good in terms of rental return right now, but can make for an excellent holiday retreat with views to the area developing into a larger resort in the future. It’s also worth mentioning that a number of developers are starting to buy larger plots of land in these “up and coming” areas in order to offer investors quality builds at low prices. Many are off plan builds and advertising rental guarantees and extra amenities to lure in the prospective clients. These can be great if properly researched, but sometimes, if it sounds too good to be true, it is! It is important to ensure that, if you are considering one of these off-plan builds at a low price, you use a professional agent that has carried out a strict due diligence to ensure your investment is secure. There are a number of due diligence checked off-plan low-entry products around starting from about £25,000 for a small studio unit.
Do your homework on the location, properties available in your budget and your agent!
Think over exactly what you want from your location. Ask yourself why you are looking to purchase a property and what you expect to get in return for your outlay. There are “cheap” properties advertised on many sites, but these often need work that can prove costly or there’s a reason they are so cheap. If it’s a buy to let investment or holiday home within easy reach of everything you are after, consider paying a little more to be in a popular tourist resort like Ovacik, Hisaronu or Calis in Fethiye (home to the Oludeniz lagoon), take a look at Bodrum, Altinkum, Alanya or Antalya, again popular resorts for good reason – they offer tourists and investors alike a great climate, views, amenities, location and lifestyle. If it’s long term investment, or you don’t mind being a little further out, consider the likes of Property or Villas in Uzumlu or Property or Villas in Fethiye or villages outside the main resorts like Akbuk near Altinkum, which have some great value property for sale and villas for sale neat the beach.
Most important of all, use the services of a good estate agent specialising in Turkey who can answer all your questions confidently.
This is the number one key to finding a good property investment abroad. There are many people selling properties, from the barber or barman in your resort hotel in Turkey, to countless online agents selling numerous countries and properties here, there and everywhere. You wouldn’t buy your own home from the waiter in your local cafe, or consider buying from a dodgy agent that hasn’t even been to the area you are considering in the UK, so why consider it abroad? Use an agent specialising in Turkey. One who has personally visited the areas and can put you in touch with someone on the ground there that can come up with a tailored search for you prior to you arrival...that way you are sure to get the best quality of service and property options to help you on your way.
External Article Link: http://www.turkeypropertyplus.com/news/?id=373
Article Link: http://www.turkeypropertyplus.com/news/?id=373
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