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Turkey ahead in the Med
With
its 5,000-mile coastline, hot summers and mild winters, affordable standard of
living and fascinating history, Turkey
has all the necessary ingredients of a perfect second home location...
One downside, however, has been the quality of the building and too much
unattractive low-end development in resorts. Now there are signs that some
developers are becoming more discriminating and estate agents are looking
beyond the standard fare to broaden the appeal to a more discerning - and adventurous
- British buyer.
With Turkish asking prices still considerably less than the inflated and
overdeveloped Euro-zone coastline - and with less exposure to bad loans because
of an immature mortgage market - there is room for Turkey to become more ambitious,
says Cameron Deggin of Place Overseas, which markets properties all over the
country.
‘There is an increased number of higher end properties being brought by
British buyers and they tend to be buying as much for lifestyle reasons as
investment,’ says Deggin.
‘We probably sell around 200 units a year in Turkey. Before the middle of 2008
there wouldn’t have been more than two or three properties over £200,000. This
year we must have sold eight or nine for more than £400,000.
‘People are coming to get a waterfront, infinity views and large plots, and
prices less than half those of elsewhere in Europe.’
The Hill development, just outside Alanya, being sold in the
UK
by Chesterton Humberts, is a good example of the new breed of development.
It is being built by Koray, a company with a good reputation in Turkey, and
international property investment company DPI. ‘They hope to raise the
perception of what Turkey
has to offer in terms of build quality,’ says Andrew Hawkins of Chesterton
Humberts.
It is a gated development of 44 apartments from studios to three-bedroom
penthouses, with air conditioning, marble floors and a communal pool. Every
apartment has views of the beach about 500 metres away.
A key aspect for buyer confidence is that irrespective of off-plan sales,
The Hill will be finished over the next year. Alanya is 90 minutes’ drive from
Antalya airport, but Gazipasa airport - 20 minutes away - is due to be upgraded
for international traffic by the end of this year. The area is also popular
with Turkish buyers who want second homes, according to Hawkins.
The British have traditionally pioneered second-home areas around Europe, and Kas (pronounced ‘Cash’) is a lesser-known
area with great British appeal, says Deggin.
On a peninsula in the southwest, it is around two hours from Dalaman airport
and attracts those wanting peaceful, family friendly locations and beautiful
views. ‘It is very bohemian, with lots of artists and musicians - a community
who want to be away from the crowds.’
A new marina is under way and is expected to be completed in a few years.
‘It will attract a high calibre of visitor, but I don’t think it will spoil the
area,’ says Deggin.
‘Kas will never be mass market. There is not a lot of land for large-scale
development - go back from the sea and you hit the mountains.’
Place Overseas has apartments in the area from £80,000 and three to
four-bedroom villas from around £300,000. It is marketing an off-plan
development of four stone-built villas with private pools and large gardens.
‘There’ll be no more than 30 villas in total over a large area,’ says
Deggin.
Prices start at £200,000 for a three-bedroom home. Financial adviser Lester
Harvey, 44, sold his apartment near Marbella
four years ago and opted for a self-build on the peninsula for his wife, Jo,
and two small daughters.
‘I wanted something bigger, and I couldn’t afford that in Marbella. I came to Turkey, did the
well-known areas like Bodrum, but Kas was really special. The surrounding area
is absolutely beautiful.’
With the help of Deggin, he found a plot and took a year to build a
three-bedroom, two-bathroom villa - complete with infinity pool - for £300,000.
Rental income is around £1,500 a month between April and October ‘which more
than covers the expenses. And life down here is very cheap. We love it.’
Check out Turkish properties for sale at turkey.themovechannel.com
Source:
www.dailymail.co.uk
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