IN LAST 10 YEARS TURKISH PROPERTY MARKET HAS SEEN A SWING OF INVESTORS PURCHASING BUY TO LET PROPERTIES IN TURKEY
“Far more investors are securing buy to let properties in Turkey as they are keen to reap the rental rewards of more than 10% on their properties by renting out to holiday makers over the six month tourist season” says Suleyman Akbay, MD, Oceanwide Properties. “The exchange rate is currently very favourable to the pound and, as tourism soars, it is creating a strong rental market.”
In 2005 when Oceanwide Properties (specialists in Turkish properties), was first established, the British sought holiday homes and retirement properties and whilst these are still high on the agenda, a third section of buyers is becoming prominent, those seeking capital investment/rental income with property values and return rising consistently year on year.
The Turkish Statistical Agency reported revenue generated from tourism in Turkey for the first nine months of 2014 reached record levels of $26.6 billion and the UN World Tourism Organisation stated that Turkey is now the world’s 6th most popular tourist destination.
Suleyman Akbay continued, “Throughout 2014 and the early months of 2015 cities such as Antalya and Istanbul have seen the biggest rise in foreign investment and now the highly popular coastal region of Fethiye, which is currently campaigning to become a Province in its own right, is anticipating an increase in tourist numbers should it receive city status. As a result Turkey property prices would rise as Turkish and foreign investment in the area increased.”
Fethiye is a large region on Turkey’s stunning Turquoise coast. With a wealth of homes from which to choose and a region steeped in history, Fethiye is encompassing modern day living with millions having been spent in recent years creating a new town square, marina, park and extensive promenade linking with Calis and offering a cornucopia of international restaurants, bars and cafes.
Currently available is a wide choice of homes in the region. Go to www.oceanwideproperties.co.uk for a comprehensive selection.
Buy to let properties in Turkey can be purchased along the Mediterranean coastline, known as the Turquoise coast, near Fethiye, Kalkan, Ovacik and Calis for as little as £45,000 for a two bedroom apartment and from around £55,000 for a property in a sought after area.
Added Suleyman, “Ten years ago when I founded the company I discovered that there were barmen, restaurant owners and hoteliers setting up as developers. Pretty much everyone you met was selling villas, apartments and land to potential investors. There seemed to be very few registered or professional estate agencies. Knowing both the Turkish and English ways of business, having lived in both countries and Germany for a number of years, I wanted to make sure that my agency employed a professional approach, that we were properly registered and governed by all the necessary professional bodies.
Our ethics have remained the same since our launch. We aim to offer all our clients a professional service tailored personally to their individual needs. We have a good team in place and have developed our company profile by attending major exhibitions, which enable us to create a close working relationship with potential buyers at the early stage of their search”.
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Oceanwide Properties www.oceanwideproperties.co.uk Tel: +44207 424 7892 |