Posts Tagged ‘Turkey’

The cost of property in Turkey is "extremely cheap" and this is helping to attract buyer interest, it has been stated.

Adam Samuel, a director at overseas property portal Nubricks, explained that the country is much cheaper than most countries in the south-east of Europe, something that may entice people to invest in Bodrum property.

Another attraction is the future, he suggested, stating: "There is this potential accession to the EU, so I imagine many people are thinking that when that does happen prices will start [rising] and that’s where they will see their gains."

Bodrum property buyers may be keen to take advantage of low prices and the possibility of gains if the country joins the EU in the next few years.

Such factors may have helped contribute to the popularity of Turkey with overseas investors.

Jet-to-let Magazine’s 2009 survey of the best countries to invest in placed Turkey in the top ten.

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Turkey has been hailed as a good place for Britons to invest in property due to it not having the euro as its currency.

European sales manager at international property firm Atlas International James Dearsley commented that this situation is encouraging investors to look at the country.

He stated: "Because Turkey is not in the euro, it means that it is a very good investment for them because they don’t have the euro exchange rate."

Such a situation may encourage many people to consider buying Bodrum property.

Mr Dearsley also said that the increasing popularity of the country as a tourist destination has prompted a rise in the number of people looking to make a permanent move to the country.

The level of interest in Turkish real estate - which includes Bodrum property - is such that it made the top ten for the most popular overseas investment destinations of 2009 in the annual Jet-to-Let Magazine readers’ poll.

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Foreign property investors have been urged to investigate real estate options in Turkey, which could include property in Bodrum.

Giovanna Gentile, PR executive of Atlas International, suggested that an increasing number of investors are coming to Turkey from all over Europe - in particular the UK.

Ms Gentile stated that British buyers can benefit from purchasing real estate in sterling.

Furthermore, the price of Turkish property is "very low" compared to the rest of Europe, she added.

"Many buyers are looking for an alternative to the euro, so Turkey is taking its place as one of the most attractive markets," she said.

Ms Gentile pointed to Fethiye in the Mugla Province as one area that is resisting the economic downturn.

Elsewhere in the Mugla Province, Bodrum property could be of interest to investors as a recent article in the Financial Times suggested that undeveloped areas in this region are worthy of further investigation.

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British tourists are increasingly looking to countries such as Turkey for overseas holidays, an expert has stated.

Sarah Butler from Aldi Travel said the country is set to gain this year from the fall in the value of the pound, commenting: "People will be turning away from the more popular Mediterranean destinations and looking towards Turkey and Egypt, especially with the rate of the euro at the moment."

The benefit felt by Turkey may be good news for those owning Bodrum property, as they could find more potential custom for holiday lettings in the resort.

Visitors who may stay in Bodrum property can enjoy a wide range of entertainments as well as the sun, sea and sand.

Unusual events include the sport of camel wrestling, which included a charity event held earlier this month to raise funds to protect the Bodrum Citrus, Hurriyet reported.

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A politician in the Bodrum area has called for a change to the structure of local government in the region.

Mayor of Bodrum Mazlum Agan said the growing tourism appeal of the various towns on the Bodrum Peninsula has meant that there are potential pressures on the area that would be more easily managed if one authority was dealing with them, rather than several, Hurriyet reports.

Explaining his call for Bodrum to become a metropolitan authority, he said: "We may overcome all of these problems by uniting under the same roof as the Bodrum Metropolitan Municipality."

Such a development may help the Bodrum property market by helping to bring about a better local infrastructure, enabling the development of better facilities for tourists.

Bodrum property seekers may in the meantime be interested by some of the events that could attract visitors who may rent holiday property in the area.

Last week Hurriyet reported on the first of several events in the camel wrestling season, which was held at Mugla in front of a crowd of 5,000.

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There is a large number of low-cost flights to Turkey’s Aegean coast this winter, it has been stated, something that may bolster the Bodrum property market.

Self-catering holidays firm Artemis Travel has said that there are no less than 22 such services running this winter to Bodrum and the coast’s other airport at Izmir.

The company also notes that demand for holidays in Turkey is likely to be higher this year among Britons due to the more favourable currency rates, since the euro is so high against the pound.

Such a situation may also help increase demand for Bodrum property, particularly that which may be let on a buy-to-let basis to tourists.

Bodrum’s charms have attracted a number of buyers, some of whom have secured second homes there.

The Daily Star recently reported that boxer Ricky Hatton has bought a villa there, near to footballers Tim Cahill and Andrew Johnson.

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The growth of golf tourism in Turkey includes new developments that may have a positive impact on the Bodrum property market, it has been stated.

Bodrum has three courses under construction or planned as the country grows in prominence as a destination for tourists wanting to enjoy the sport while on holiday.

Turkey has been awarded the title of Best Golf Destination of the Year in Europe by the International Association of Golf Tour Operators for 2008, something that offers concrete evidence of the progress made by the country.

Bodrum property investors may be keen on purchasing property that lies close to the new resorts to take advantage of the country’s growing reputation for golf.

The resort is already well known for its yachting, with this month seeing the 20th Bodrum Cup International Wooden Yacht Regatta.

A number of festivities and shows are held as part of the four-day event.

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Istanbul is being hailed as the best European hotspot for investment after property investors saw a 42 per cent growth since February 2007.

It has been named the best performing location in Europe by PricewaterhouseCoopers and the Urban Land Institute, according to Hot Property Turkey.

Supply and demand, population growth and availability of finances are being given as reasons for the healthy investment climate there.

Istanbul suffers from severe population congestion and many new suburbs are being built to cope with the demand, the website stated.

It added that there are also new transport routes being developed to join the suburbs to the city centre, while some of these developments have guaranteed price increases of 35 per cent or more.

In related news, those buying property in Bodrum have been said to have no worries about healthcare.

Dominic Whiting, editor of the Buying in Turkey property guide, told Property Wire that the quality of care there "is equal and in many cases far superior to that available in the UK".

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Those buying Bodrum property need have no concerns about the quality of medical attention in the area as Turkish healthcare is very good, it has been stated.

Editor of the Buying in Turkey property guide Domnic Whiting told Property Wire: "The quality of care is equal and in many cases far superior to that available in the UK," with most staff in tourist-orientated areas being able to speak good English.

He listed Bodrum as one of the places in the country where there is a high standard of facilities available.

Private medical insurance in Turkey is easily affordable for those staying for a long time, the portal stated, with a health insurance package covering two 40-year-olds costing as little as £1,320 a year.

Such news may encourage those investing in the area, along with the bargains available in the area.

Scottish investor Isobel Ferguson told the Sunday Mail at the weekend that there was "no way" she and her husband could have acquired anything in Scotland comparable to the two-bed apartment they purchased for just £32,000 at a location an hour away from Bodrum Airport.

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