Posted on 14 February 2011
Overseas property hotspots for 2008
EMERGING STAR: TURKEY
The South-western ‘Turquoise’ coast of Turkey offers great value compared with Spain and Portugal – and its second-home market is growing fast.
Two factors which have so far been holding the area back – poor accessibility and lack of mortgages for British buyers – are set to be addressed in 2008.
EasyJet has acquired GB Airways, which serves Turkey’s southern coast, and British Airways will start flying into Antalya on April 10.
In addition, there is also a new airport at Gazipasa. Routes have yet to be confirmed.
A law allowing foreigners to obtain mortgages is currently being passed through parliament and will bolster the market further in early 2008.
‘Average price rises of 10-15% are realistic for 2008,’ says Julian Walker of Turkey specialist, Spot Blue. The downsides of this emerging market include negative perceptions of the political situation, a border with Iraq and the volatility of the Turkish currency, the lira.
You can pay anything between £25,000 for an apartment in Altinkum to £1m for a villa in the upmarket resorts of Kalkan, Kas or Bodrum. Spot Blue (020 8339 6036, www.spotblue.com) is selling two-bedroom villas in the golfing destination of Belek for £85,000.
Source: Daily Mail – 28th December 2007.