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The 'Credit Crunch Bolt-Hole' in the Sun

Sep 11, 2008
Don't put your dreams of buying an overseas property on hold. Described as the 'Credit Crunch Bolt-hole' by The Times newspaper, Turkey has great value property in the coastal resorts from as little as GBP 35,000 and proven capital appreciation rates of 15-20% per year in the best areas. Whether for investment or fantastic holidays in the sun, Turkish property offers a ray of light in these gloomy economic times.

"Thanks to a rapidly growing economy, increasing tourism and huge investment in the infrastructure of the coastal tourist areas, property in the Turkish resorts represents an excellent investment," explains Dominic Whiting, editor of the Buying in Turkey guide. "However, like all market's you need to do your research and choose the best areas."

Below is an independent round up of the best value apartments and villas in the best areas on the Turkish coast this summer according to the Buying in Turkey guide.

Gokdere Apartments, Ozdere, from GBP 36,500

Amazing value two-bedroom apartments just 5 minutes walk from a lovely beach in the resort of Ozdere, which is largely undiscovered by foreign buyers. A very high-quality build for the price.

Sun Complex, Altinkum from GBP 40,000

Spacious and well-built apartments in a fantastic location near the beach in the popular resort of Altinkum. Ready for use in August 2008.

Akkaya Gardens, Dalaman, from GBP 46,200

Two-bedroom apartments with stunning views and excellent facilities in the beautiful Akkaya valley. A winner in the Best Turkish Development category of the CNBC Property Awards, these are a great buy for holiday use and investment.

The Melito Villas, Kusadasi, GBP 67,500

These hugely popular four-bedroom villas are fantastic value for money. Walking distance to the beach and with a large pool, they are ideal for family holidays. Proven rental potential too.

So why is Turkey such a good buy? Here are just a few of the main reasons.

It has fantastic scenery, great beaches and very friendly and welcoming people. It has a rapidly developing economy with rising income levels and a growing domestic property market. This is excellent news particularly for anyone wanting to buy investment property in Turkey as it gives them a growing domestic market that they can use as part of their exit strategy.

Turkey is a major tourist destination, with over 25 million visitors expected this year alone and with the World Travel and Tourism Council predicting consistent growth over the coming decade.

There is huge on-going investment in infrastructure and tourism projects, such as marinas, golf courses and airports in Turkey, there is a very low cost of living - about 60% lower than in the UK for example. Property values are well below the EU average, though rising fast and up to 15-20% price increases have been enjoyed per year...
About the Author
By Rhiannon Davies for Buying in Turkey. For more information about buying property in Turkey contact Buying in Turkey Tel: 0845 351 3551
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