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Property Values up 40%

Country remains unaffected by the turmoil of the money markets and is a good year-round destination.

With superb summers and winters that are far less harsh than in the UK, Turkey is quickly becoming a sought-after destination for Brits seeking overseas property.

Unaffected by the major turmoil in the money market it is possible to secure a mortgage through a Turkish bank via some UK estate agencies and property prices in the country are still very reasonable.

For example it's possible to buy a brand new two-bedroom apartment on a development for just £58,000.

Property values in Turkey have risen by 40 per cent over the last two years and living costs are up to a third less than you would pay in the UK.

Turkey has superb summers and far less harsh winters than Britain. The coastline is beautiful with clear blue, clean waters and there is skiing in the Taurus Mountains and golfing available year-round. With major flight carriers into the airports there is a choice of airlines and a number of low-cost opportunities.

If you invest in a buy-to-let property here you are not just restricted to the summer season because after the beach crowds have packed up their towels you can enjoy year-round golf or skiing for up to five months of the year.

If you prefer skiing then the Taurus Mountains beckon. At Augustus Village and Country Club apartments start at just £58,000.

The development offers a myriad of facilities including gym, café, poolside bar, restaurants, shops, tennis courts, golf pitching and driving range, indoor swimming pool and spa.

“There are a choice of resorts and skiing is an option for around five months of the year”, says Robert Nixon, operations director UK for real estate company Nirvana International. “Turkey really does have a great deal to offer including rising property values market and an excellent low starting price for purchasers making their first step in the overseas market”.

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Turkey's Holiday Lets Prove Profitable

Increasing numbers of British investors are buying homes in Turkey to rent out to holidaymakers.

As Turkey’s tourism sector continues to flourish, you may be able to regain some of your property’s costs by renting it out during the holiday season, particularly in July and August.

The Turkish holiday rental market has huge potential with the country expecting 24 million foreign tourists in 2008, of whom well over 1 million will be British. “The start of low-cost flights into the Turkish resorts, with Easyjet now flying from Gatwick to Dalaman four times a week, will be a huge boost to the fledgling holiday lettings market,” says Dominic Whiting, editor of Buying in Turkey.

However, Dominic points out that the buy to let market is still in the early stages of its development in Turkey, and that rapid development has created a large pool of rental accommodation, with an over-supply in some Turkish resorts.

“This makes it very important to choose the right kind of property in a good location, if rental is a primary concern,” warns Dominic. “It is also unwise to rely on rental income to finance your purchase, no matter what the estate agent promises!”

In family-friendly resorts such as Alanya, Altinkum and Kusadasi, apartments and small villas on complexes are the easiest type of property to rent, while in the more upmarket resorts, such as Kalkan and Kas, large villas with pools offer the best rental returns.

The Aegean resort of Cesme, which is very popular with Turkish holidaymakers from the major cities, has a buoyant rental market in summer with gross yields of up to six per cent.

However, Dominic advises that serious buy-to-let investors should look to the main Turkish cities where good rental yields can be achieved all year round. Wherever you choose to buy in Turkey, the future looks good for buy-to-let investments.

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Turkey Plots to Steal Spains Golf Tourists

As Turkey makes plans to add 100 new courses, Spain’s tourism sector can expect some competition.

At the last count, Spain had over 350 golf courses, attracting so many wealthy tourist to areas such as the Costa del Sol that golf generated €900m in the Málaga province alone in 2006.

It’s clear that Turkey has some catching up to do but with one and a half times the area to choose from, a similar sunny climate thanks to sharing the same latitude, and one of the fastest growing tourist industries on the planet, Turkey is set to become a leading golf destination.

Already, the tourism sector is thriving, with the number of foreign tourists visiting the country leaping from18.5 million in 2006 to 23.8 million in 2007, a 29 per cent increase.

Currently the country has less than 20 courses, but with plans already in place for 100 new golf courses, revenue from the burgeoning golf hotspot are expected to hit €500m by 2010. Adam Godwin, Marketing Director for Dream Homes WorldWide, believes that the resort town of Bodrum in the Mugla province, will be a key area.

Up until now Turkey’s golf has been concentrated around Istanbul and Mediterranean Belek, but the southwestern province of Mugla is the one to watch. A holiday hotspot taking around 70 per cent of all tourist arrivals to the country, Mugla has over 1,100km of coastline and marinas.

“With the number of golf courses rising exponentially, the Bodrum area will become on a par with the Costa del Sol as a serious destination for UK and Ireland-based golfers who will pay considerably less than the average £65 for a round on the Costas,” Adam says. “Those who get in early in prime projects will enjoy significant price rises over the next five to ten years; we’re already experiencing capital appreciation around 15 per cent per annum largely thanks to recent infrastructural improvements. The Bodrum area is what we describe as a ‘classic lifestyle investors destination’. Personal use is the key driver but with the added bonus of possible rentals and increased value of the property.”

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Flights To Turkey On The Increase

While many operators are cutting flights due to the credit crunch the number of airlines flying to Turkey is increasing.

If you want to buy a second home abroad you need to make sure you can visit regularly and the closest airport is not likely to close or cut the number of flights operating from the UK.

As several airlines feel the effects of the credit crunch they are cutting the number of flights and some are going out of business altogether as fuel costs rise, making it harder for people from the UK to reach their second homes abroad.

However, Turkey is one destination which seems to have benefited from an increase in flights this year.

Pegasus Airlines, Turkey's second largest airline, is currently in talks to buy more Boeing aircraft. They are currently flying five days a week between the UK and Turkey, but with the purchase of 24 new aircraft they are increasing the frequency of flights and planning new routes for the airline.

Roberts Nixon, operations director UK for Turkey property specialists Nirvana International, said: "In Turkey we are extremely lucky that flights are increasing. However it is essential properties are close to well-served, established routes into international airports. Companies who build large conurbations in remote locations tend to draw airlines if there is a good holiday and rental business in operation but that is often not sufficient for them to keep the services going year-round. In Turkey we have a lot of people who need to visit throughout the year as the summers are hot and the mountains provide excellent skiing in the winter."

easyJet is also launching flights from Gatwick to Istanbul on December 12 and several airlines already run flights to airports in established holiday hotspots such as Dalaman, Bodrum and Antalya. There are also flights from Istanbul to several regional airports.

The strong Euro is currently working in Turkey's favour and many Brits are now choosing to take holidays or buy homes there. They are attracted by the beautiful coastline, friendly locals, and superb mix of eastern and western cultures.

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Property Hotspots- Altinkum and Didyma

The main attraction in Didyma is the ancient ruin of the oracular sanctuary of Apollo.A shrine has stood on this site since the 8th century BC. In 300BC, work began on constructing the biggest temple in the Greek world. Building continued well into the 2nd century AD, but it was never completed. Even so, just walking around the ruins gives you a real sense of the sheer scale of the place.

Just five kilometres to the south lies the busy resort of Altinkum. Up until a couple of years ago,Altinkum was a small town, but it’s fast gaining in popularity, particularly among British package holidaymakers. The length of its golden sandy beach is jam-packed with hotels, and with restaurants offering rather dubious ‘English’ cuisine.

It has only recently become possible to buy property in Altinkum, and although relatively cheap properties are easy to come by at the moment, prices are booming to meet demand. Some homes have risen in value by as much as 50% in the last year. A top-notch, three-bedroom semi-detached property in Altinkum costs around TRY195,500, while a decent sized two-bedroom apartment could be yours for as little as TRY90,000.

Altinkum is a favourite with British, Dutch and Turkish tourists looking for a beach holiday, and rentals are guaranteed during the summer months. This is an excellent area for investment, with a large amount of development and prices expected to rise.

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