The last few years has seen a dramatic increase in the number of overseas investors buying holiday homes in Turkey. Warm summers, mild winters, fantastic scenery and great food are just some of the factors that have combined to attract unprecedented international investment. And as if that wasn’t enough, low interest rates, the continuing boom of Turkey's housing market and the growing demand for self catering accommodation from the tourist industry means that an investment you make now will yield impressive returns in the years ahead.
Where to buy in Turkey?
This clearly depends on your personal preferences, but if you want to gain income from renting out your Turkish property to holidaymakers you do need to do some research.
Sports lovers should investigate Side, Alanya, and particularly for golfers, Belek. Each of these regions enjoys a strong tourist industry and it will be easy to generate income by letting your home to holidaymakers.
If sun, sea and sand are at the top of your list of priorities, give some thought to buying a property in the Antalya or Kemer; both of which are renowned for breathtaking scenery, an excellent climate, superb beaches and crystal clear seas. Between them in the area of Antalya includes the famous holiday destinations of Lara, Kundu and Konyaalti, each with a ready supply of holidaymakers.
If you prefer the quiet life of traditional Turkey, you may want to consider buying a property in Kas, Kalkan and Fethiye. These areas are relatively unspoilt and the property prices tend to be lower being distant from the airport, and do be aware that rental incomes will be lower than in other regions and your property may be more difficult to let.
What to buy in Turkey?
Again, this depends on your personal preferences and budget but you also need to consider the type of property and the market you’re aiming at. If you want to start enjoying your property in Turkey immediately, look for pre-owned (resale) property rather than off-plan opportunities. One of the advantages of buying resale property is that you can often buy the furniture at the same time which means more time spent in the sun and less shopping, as well as fewer worries about holidaymakers damaging your prized possessions. Don’t forget to check out the rental prices of similar properties so you can get an idea of what income to expect during the holiday season.
Turkey Apartments
These are ideal for first time buyers and investors who are more interested in regular rental income than personal luxury. Most of them have been built expressly to service the tourist industry, are inexpensive to buy, cheap to maintain and situated in close proximity to the main tourist resorts.
Viewed as a secure investment.
Value for money.
Low community charges.
Usually spread amongst many apts.
Good rental
property.
Within a
complex - size varies from 500 apartments to 50
apartments.
Noisy with neighbours in close proximity.
Turkey Villas
Much sought after by holidaymakers with a larger budget, a detached villa will generate a higher rental income and gives you much more scope for creating a real home from home. Most come with a private pool and many are of an individual style and design.
Ideal choice for buyers with a good amount to spend.
Good investment given all year
round high demand.
Little maintenance.
Comparability with a proper house.
Comfortable to live
in.
More private than apartments.
Turkey Village Properties
If you want a rural retreat you’ll find thousand of rustic hideaways throughout Turkey, offering the chance to really live the Turkish life. If you’re buying an older property be prepared to pay for higher maintenance costs and make sure that a qualified professionals check the condition of the house and its wiring and plumbing.
At times ridiculously cheap.
Often in real need of extensive refurbishment.
Very low running costs.
Property often sold with large amount of land.
Own
utilities ie well, septic tank etc.
Rural-some distance from towns or cities and even basic amenities.
