The Wall Street Journal recently reported on the impressive growth of the Turkish economy. With a rising population, a constant stream of tourism and a property market going from strength to strength, Turkey is inspiring investors far and wide.

Kelly Macfarlane, owner of Didim Sun properties, focuses on the wide Didim peninsula along the Aegean Coast. The Didim peninsula has beaches galore and plenty of water sports and activities. There is also the beautiful Bafa Lake and nature reserve, mountains, woods and forests, sleepy villages and a traditional Turkish town centre. Whether buyers want a town centre residential let property, a rural retreat, a beachfront villa or somewhere in the buzz of a seaside resort, this area has it all - and at budget prices.

“£150,000 is the very top end of the market here in Didim. Property prices start at £18,000 for a one-bedroom apartment and £150,000 would buy, in any location within Didim, a detached villa to a high specification. Obviously in different parts of Didim land prices vary but in general terms, with this budget, a buyer can choose their own plot of land, some with sea views or within half a mile of the sea. They can design and build their own four or five bedroom villas and have all legal costs paid and paperwork completed.’

With such value for money to be had, this part of Turkey is attracting a lot of investment attention. Neil Wilson of Sunshine Homes sells in the Fethiye region of Turkey and offers clients a full rental guarantee scheme if they choose to rent out their property. He agrees that buyers on this budget can get an awful lot for their money.
‘For £150,000 you can buy almost anything you want in the Turkish property market. The most expensive villa we sell is £140,000 and is of course a private villa with a private infinity swimming pool and an internal living area of 200 square metres. Standard features in the price include marble floors throughout, en suite bathrooms, air conditioning, and a luxury kitchen with marble worktops,” said Wilson.

He thinks Turkey is attracting the more seasoned overseas home owners and has had increasing interest from a number of clients who have previously owned property in Spain. Turkey’s current affordability, along with mortgage finance, if still challenging, being available, is a real driver.

“Buyers now see Turkey can offer everything that Spain can, but at a considerable lower cost both in terms of property prices and how much more you get for considerably less money. In addition the cost of ownership and living is so low,” said Wilson.

Property investors see Turkey’s great potential for capital growth and, with large tourist numbers, good rental returns too.
“It really is a broad span of people choosing to own property in Turkey and our clients have included people from all walks of life such as school teachers, Premier League footballers and property investors with vast portfolios,” added Wilson.

Louise Reynolds, director of UK based Property Venture, believes first time overseas buyers are the main demographic currently interested in Turkey.

‘Younger buyers, who have a limited budget and cannot get a foothold on the property market in more established places like Spain or Cyprus, are looking to Turkey. The Mediterranean and Aegean coastlines are popular because they are quite well developed in terms of amenities, as well as cosmopolitan in nature. The majority of Turkey's seaside resorts, national parks and historical sites are located on the west coast of Turkey, the Aegean side, making it a popular destination for the young and old, sightseers, nature lovers and sun seekers,” said Reynolds.
Anglo-Turkish company, Oceanic Holdings, are selling property in Cypress Valley, Kusadasi. Of the 40 units released (there are 60 units total) there are four semi-detached villas left at £149,950. The site is set on the first hill back from the sea in an undeveloped location surrounded by peach orchards and on the same road as the new Caferli golf course.

Neil Clark, chief executive of Oceanic Holdings, said: “With a steady increase in annual tourism, Turkey is experiencing an unprecedented level of international exposure and this is, in turn, creating more tourist interest and increasing demand for Turkish property.

Investors see the great and very real growth potential but there are also plenty of lifestyle purchasers who have discovered how much Turkey has to offer in terms of great value for money but without having to compromise on quality.”

And if you do choose to buy there, another bonus is that the cost of living in Turkey is still particularly low.
“You can get a top three course meal, with wine and coffee, for £20 a head, so even the best quality dining is a snip compared to UK prices and a normal very tasty lunch in a simple restaurant with drinks included comes in at £4. It works out to be extremely good value for money compared to the euro zone,” added Clark.


www.cypressvalley.co.uk

www.didimsun.com

www.property-venture.com

www.sunshinehomes.eu