Thus, the Turkish housing market is considered to be quite reliable. Richard Hattham of Landmark Properties International comments: "Over the past few years, there has been a very good increase in the value of real estate in Turkey, and I think this process will continue. It cannot be said that there are too many facilities under construction in Turkey, but there are several fantastic areas on the coast where developers are actively buying up land."
Andrew Hawkins, head of international real estate agency Chesterton, says: "Turkey as a destination for buying holiday homes is becoming increasingly popular and is considered a suitable country for investment. The local real estate market has not been affected by the crisis as much as in many countries, mainly due to the fact that it has not managed to develop properly by now."
Here, for 180,000 euros, the buyer can afford a lot. Julian Walker, director of the Spot Blue real estate agency, notes: "Prices for apartments start from about 25,000 euros, for villas – from 80,000 euros. However, in Istanbul or the districts of Bodrum, Gocek and Kalkan, this money will clearly not be enough."
Around Alanya, the
"hot spots" on the map of Turkey for foreign real estate investors are concentrated along two main coasts – the Aegean and the Mediterranean.
One of the most interesting centers for the development of the real estate market on the Mediterranean coast is Alanya, a lively, cosmopolitan city. Soon, the construction of a new airport will be completed here, and this will give more opportunities for both Alanya and nearby Belek.
The Hill complex in Alanya received the Homes Overseas Gold Award as the best complex in Turkey last year. The project is located on a hill, and the owners of all apartments can enjoy magnificent sea views. Prices start from 125,000 euros. This is one of the new Turkish complexes, where a mortgage for 65% of the cost is available to foreign citizens when buying housing under construction.
Andrew Hawkins says that the developer, Koray, is a well–known and respected company, so you can count on high quality construction at The Hill.
A little to the west of Antalya are the resorts of Belek and Side, very popular among golf enthusiasts: there are about 15 professional golf courses with 18 holes in the vicinity of Belek, and 15 more courses are planned to be built within 10 years. And although it is also very easy to get to the golf courses from Side, housing prices here are slightly lower than in Belek, but the income from renting out housing will be good.
An excellent example is the Golf Gardens complex in Belek. Two–bedroom apartments and penthouses with three or four bedrooms are offered, the minimum cost of the object is 125,900 euros. The complex is located near the championship-class 18-hole golf course designed by architect Colin Montgomerie, as well as next to the 27-hole championship course designed by six-time winner of the Open Golf Championships Nick Faldo. Real estate here can be purchased through Nirvana International, which offers a guaranteed income from renting penthouses in the amount of 5% of the cost per year.
Around Bodrum
The resorts of Dalaman and Fethiye have become so popular in a few years that work had to be done at the international airport in Dalaman to upgrade equipment so that the terminal could cope with the flow of foreigners.
Despite the unconditional attractiveness of the area, housing prices are still affordable here. For example, Spot Blue has options in a one-bedroom apartment complex with sea views in Fethiye at a price starting from 72,650 euros. A total of seven apartments are located near the old town, next to the picturesque harbor.
Bodrum is a popular tourist destination with great shops, restaurants and nightlife. The coastline is full of secluded, quiet bays and coves. For example, in the cozy fishing village of Gyumyushlyuk, 20 minutes away. From the shops, bazaars and nightclubs of Bodrum, you can combine privacy with the opportunity to have fun in a bustling resort. Thus, owners of three-bedroom villas in the Tatilbelen Life Project complex will be able to relax in Gyumyushlyuk. Landmark Properties sells houses at a price starting from 144,200 euros. The project is located on a hill and will be surrounded by a natural stone wall, cars are not allowed to enter the complex. Each residence has a solar-powered water heating system, plants are planted on the roofs, and this makes the sea view even more picturesque.
To the north of Fethiye and Gumyushlyuk are the resorts of Didim and Altinkum, where housing is still very inexpensive, and the majority of buyers are British. Richard Hattham assesses the area this way: "The prices here are very competitive: apartments can be purchased even for 30,000 euros. More expensive housing is located in Didim, where there are several magnificent beaches, and most of the residents speak English and are engaged in tourism."
A three-bedroom villa in the A Touch of Paradise Country Club complex in Didim can still be purchased at a price of 148,000 euros. The complex is located close to the beach and includes shops, a mini golf course and a Turkish bath.
Izmir is waiting for investors even further north. Richard Hattham says about the area: "There are now several impressive projects near Izmir with excellent infrastructure – this should provide a good rental income. In addition, there are many historical sites and architectural monuments that are interesting for tourists."
In the Sea Life Beach and Spa Resort complex, near Izmir, in the village of Mordogan, a three-bedroom, three-bathroom villa will cost 140,000 euros. On the territory of the complex there is a spacious parking lot for yachts, a spa and sports grounds.
Istanbul
At the time, Newsweek magazine called Istanbul, Turkey's largest metropolis, "one of the coolest cities in the world."
Prices for real estate in Istanbul are higher than in other areas of Turkey, partly due to a significant housing shortage, but there are affordable options in the suburbs. Thus, prices for apartments in a complex under construction near the Formula 1 track start from 78,000 euros. This is a commercial area, and significant funds are being invested in its development. There is a shopping center, a pharmacy, a laundry room, and a cinema is planned to open. The seller guarantees an annual rental income of 9.5% for five years.
