Turkey’s surging tourist numbers together with its weak currency are creating exciting opportunities for rentals during 2014, said property agency Spot Blue International Property in May, adding that the number of foreign visitors to Turkey in 2013 increased 9.84 per cent year-on-year to 34.9 million.
Homeowners in Turkish resorts who let their property can expect 2014 to be a bumper year, as holidaymakers are attracted by a Turkish lira that has weakened by around 27 per cent since May 2013. Eating out and shopping are consistently cheaper in Turkey compared to other European hot spots, so today’s exchange rate only increases this attraction.
“In March alone, foreign visitors to Turkey rose 0.6 per cent to 1.85 million compared to last year,” said Julian Walker, director at Spot Blue International Property. “Homeowners in sought after locations should have little problem with bookings this year, and thanks to Turkey’s balmy climate and expanding flight network, which is attracting a broader range of nationalities, occupancy levels extend beyond the core summer months.”
To help foreign buyers looking for a lettable property in Turkey, Spot Blue International Property has listed its top five rental destinations.
Fethiye itself is a colourful harbour town and its surrounding villages and scenery, most notably the famous lagoon at Oludeniz and the Uzumlu Valley, add to its appeal. The Calis Beach area is a hot spot for British holidaymakers and has an established rentals market.
At Calis Beach, British homeowners John and Lesley Carrington rent out six apartments, which form a boutique complex that includes a private pool, bar and their own three-bedroom villa. The apartments – two two-bedroom, four one-bedroom – let as a group booking can generate up to £2,000 a week, and annual occupancy is typically five to six months. “We get large family bookings but also groups of retirees coming out of the main season and staying for three weeks at a time,” said Lesley. “We’re just 12 minutes from the beachfront and a 10-minute dolmus ride from the centre of Fethiye.”
The Carringtons have lived in Turkey for 10 years but are now selling up to return to the UK. Their property, on the market for £550,000.
Kalkan’s stunning ‘amphitheatre’ setting within a bay, combined with its pretty old town and world-class selection of restaurants make it one of Turkey’s more upmarket holiday destinations. Properties with a view are especially in demand. Typical of sought after properties in Kalkan, Spot Blue International Property has a detached four-bedroom villa with a private pool for sale for £229,950.
Its popularity with wealthy residents of Istanbul, as well as foreign visitors, make for a strong rental market in fashionable Bodrum, home to a growing number of chic bars and international hotel chains. Other smaller resorts on the Bodrum Peninsula, including Yalikavak, Gulluk and Gundogan are more tranquil but equally attractive options. Quality two-bedroom apartments with sea views on the Bodrum Peninsula start from £60,000 with Spot Blue International Property.
Turkey’s largest seaside resort, Antalya is both a lively tourist destination and busy, working city. As a province, Antalya welcomed 1.4 million foreign tourists between January and April this year – a 6.5 per cent rise on the same period last year. The city’s appeal goes beyond its shopping, nightlife, culture and beaches and includes being just 30 minutes from Belek, Turkey’s golfing hub, and having an international airport. Spot Blue International Property has two-bedroom apartments in Antalya, starting at £58,000.
Long weekenders from abroad, foreign holidaymakers or residential tenants, Istanbul offers all types of rental opportunities. Tourism in Istanbul is at all-time highs, and the city is also building its global status as a commercial and cultural hub, with positive knock-on effects for its lettings market. Districts with affordable new buy-to-let opportunities include Bahcesehir, Essenyurt and Beylikduzu, where Spot Blue International Property typically sells apartments priced around £60,000 and upwards.