Homes in Turkey

The property market along the Turkish coast has certainly cooled since the heady pre-credit crunch days when excitement about EU entry, rocketing property values and new Turkish mortgages fuelled an unprecedented rush of British buyers to take the plunge into what was enthusiastically promoted by overseas estate agents as the ‘next big thing’.

But crisis or no financial crisis, Turkey’s pleasant Mediterranean climate, unspoilt scenery and low cost of living – factors which have attracted over 74,000 foreign property buyers, including more than 22,000 Britons – look set to begin drawing British property buyers in ever increasing numbers again in 2010.

Turkey has managed to weather the global slow-down fairly well. Due to strict regulations, the country’s banking sector has been spared the direct effects of the credit crunch and despite a major slowdown, the Turkish economy looks set to move out of recession next year.

Being outside the Eurozone, Turkish property represents excellent value for money, particularly as prices in most of the large resorts have dropped significantly since their peak in 2007.

A villa at Akkaya Gardens

Increase in market activity

“In what is now a buyer’s market, there are certainly some bargains to be found, although purchasers should still be looking for high-quality property, which will offer the best investment long-term,” says Dominic Whiting, editor of the Buying in Turkey guide, http://www.buyingin.co.uk. “Looking forward, there is much to be optimistic about and I expect a steady increase in market activity from spring 2010 as the tourist season starts, and global economic conditions and consumer confidence in the UK improve.”

The Turkish tourist industry has experienced remarkable growth over the past few years, particularly when compared with other Mediterranean destinations such as Spain. The country received more than 24 million international tourists in 2009 with year-on-year figures up despite the economic gloom. A record 2.1 million British tourists visited in the first nine months of the year, making Turkey one of the top holiday destinations for Britons. Official forecasts are upbeat, with tourist arrivals expected to top 30 million in 2010 according to Ertugrul Gunay, the Turkish Culture and Tourism minister.

Investment is still being channelled into the development of the coastal areas, albeit at a slower pace, as part of government plans for Turkey to become one of the world’s top five tourist destinations by 2023. On the ground, this means new airports, roads, golf courses, marinas and hotels, which will widen the country’s appeal for property buyers, as well as tourists. The 600-berth Didim Marina, completed by Dogus Holdings in May 2009, is a good example, with new marinas opening in Cesme and Dalaman in the next few years.

Improving air access from the UK will be another important factor promoting the Turkish property market in 2010. Defying global economic turbulence, low-cost Turkish carrier Pegasus Airlines reported a doubling of passengers in 2009, with 17 flights from the UK to Turkey next year, including new direct services from London to Bodrum and Dalaman; Manchester to Antalya and Dalaman, and Birmingham to Antalya and Bodrum. Easyjet will be continuing its recently launched flights to Dalaman and Bodrum from London and Manchester next year. While Jet2.com has announced low cost seat-only flights to Dalaman from the airline’s new base at East Midlands Airport and Thomas Cook has added weekly flights from Exeter to Dalaman to its existing services.

Area focus

Dalaman

Dalaman is an area to watch in 2010 as it has avoided the over-development of the larger Turkish resorts. It has some wonderful scenery, great beaches and lots of activities, like white-water rafting, hot springs, yachting and walking, which give it a broad appeal. The Dalaman Hilton Golf & Spa Resort, with its 18-hole course, is opening in the summer.

Easyjet (www.easyjet.com) and Pegasus ( http://www.flypgs.com ) fly into Dalaman’s large international airport from Gatwick and Manchester; with Flyglobespan (www.flyglobespan.com) operating weekly flights from Aberdeen, Edinburgh and Glasgow.

Curbanoglu, (0845 355 5625, http://www.curbanoglu.co.uk) have apartments from £61,200 and villas and luxury bungalows with private pools from £136,000 in the beautiful rural area of Akkaya, which overlooks a lake and unspoilt mountains just 15 minutes from Dalaman town and the international airport. The unspoilt valley is being turned into an exclusive residential and holiday community with communal facilities including a stream-side restaurant and bar, indoor and outdoor pools, fitness centre, sauna, tennis courts – all spread over 100,000 acres of beautiful woodland and meadows.

Lakestone Villas

For more information about Turkish property or to view a selection of some of the best Turkish property contact Buying in Turkey, Tel: 0845 351 3551, http://www.buyingin.co.uk

Buying in Turkey

Buying in Turkey is the UK’s leading independent guide to buying and owning property in Turkey. First published in 2005, the 140-page guide has helped hundreds of people purchase villas, holiday apartments, investment properties and retirement homes in Turkey. Available for free download from www.buyingin.co.uk

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

News updates

Swiss house prices increase as permit rules are set to change

House prices in Switzerland have increased this year by more than 4%, according to figures from the Swiss National Bank.
Single-family homes increased by 4.5% in the year from January 2009, and resale rental apartments rose 4.3%.

A 3-bedroom duplex apartment in Ovronnaz, Canton Valais, Switzerland

Andrew Hawkins, head of international at Chesterton Humberts, believes these increases stem from: “A controlled market where ownership is highly regulated and a corresponding level of supply and demand. Switzerland didn’t have a price boom, unlike markets such as the UK or Spain.
“The continued interest from non-resident foreigners has kept house prices rising at a manageable amount. Also, as the economic crisis hit, locals transferred overseas investments into the more stable local property market, driving prices up at a steady level.”

Foreign property laws
While Switzerland has traditionally been difficult to buy into because of the federal government’s system for issuing permits, from 2010 each canton will have the power to set its own foreign property laws.
“Giving cantons the responsibility for making their own property acquisition rules is a positive for foreign buyers,” says Andrew. “We expect faster transfer times for property titles, making property ownership easier and therefore more desirable, so we expect that prices will continue to steadily increase.”

Fully furnished chalet, Vercorin, Canton Valais, Switzerland

Chesterton Humberts sells a range of property in Switzerland, including:

•    A three-bedroom chalet designed in traditional Swiss style, with modern interiors. This chalet is located in one of the highest spots in Vercorin and offers unparalleled views over the Rhone Valley from Sierre to Sion. The chalet has two terraces, including one with Jacuzzi. Price: CHF 2,000,000 (approx. UK£ 1,118,637).

For more information, call: Chesterton Humberts – Tel: 020 3040 8210 or on-line at: http://www.chestertonhumberts.com

Post Office launches new international bank to bank money transfers

Transferring money between UK and overseas bank accounts is set to become significantly easier following the launch of the new Post Office® Overseas Property Money Transfer service.

The new service offers customers peace of mind by enabling them to fix at a favourable rate of exchange for up to a year, giving valuable protection against volatile currency fluctuations. And because the Post Office offers this service online, people can transfer money from the comfort of their own home to wherever they need it to be in the world.

Anyone needing to transfer money to an overseas bank account can benefit from the service. It’s ideal for:
•    Repayments on a foreign mortgage
•    Deposits or costs associated with buying, selling or maintaining a property abroad and paying utility bills
•    Bringing money back to the UK after sale of an overseas property
•    One off payments such as a wedding venue or emigration
•    Regular payments – transfer pensions, salaries or even school fees, removing the hassle and expense of frequent individual transactions from a bank.

The Post Office Overseas Property Money Transfer service offers competitive exchange rates, with 0 per cent commission and no hidden charges, plus it will reimburse customers for any charges that the destination bank may impose, meaning that customers can expect to save hundreds of pounds a year*.

Buying in bulk

Sarah Munro, Post Office head of money transfers, said: “Until now, many users of international bank to bank money transfer services have found it to be an expensive business, with limited options for small transfers.  They have often been unable to capitalise on the great rates offered by currency specialists because they weren’t buying in bulk.  And they were also at the mercy of volatile currency markets, making it harder to get the most from their money.

“The Post Office Overseas Property Money Transfer service offers customers the ability to fix at a competitive exchange rate, giving them peace of mind for up to a year, which is a real advantage in current markets.  We calculate that with 0% commission and our competitive exchange rates we will be saving customers a serious amount of money if they’ve just sold their house or are paying a deposit on a new property.”

For anyone wanting to make a cash money transfer abroad, the Post Office still provides the MoneyGram service. This offers cash transfers to over 176,000 destinations worldwide from any one of 11,500 Post Office branches.

Anyone wanting to find out more about Post Office Overseas Property Money Transfer should go to http://www.postoffice.co.uk/moneytransfers or by calling 0800 180 4702. Transfers must be a minimum of £500 and are limited to £10,000 online. There’s no transaction limit for transfers made over the telephone. The Post Office Overseas Property Money Transfer service is provided by HiFX PLC.

Based on a monthly transfer of £700 over a year customers could save £528 by going to the Post Office:
High Street Bank
Monthly Transfer fee £30 = £360.00
Post Office
No charge

High Street Bank
Commission 1.5% = £126.00
Post Office
No commission

High Street Bank
Receiving charges up to 0.5% = £42.00
Post Office
No charge

High Street Bank
Total bank charges £44.00 = £528.00
Post Office
Free

Golf fanatics flock to Turkey

Turkey provides some of the newest and most exciting courses, many being championship level and most within easy reach of each other. Golfers have realised the tremendous benefit of 300 days of sunshine a year with the average temperature even in December, of 16 degrees centigrade.

Now the European Challenge tour will be played in Turkey in 2010 at the Carya Golf Club which was established in 2008 and in Belek the World Amateur Golf Championship is to be held in 2012.

Turkey was awarded “Best Golf Destination in Europe 2008” by the International Association of Golf Tour Operators (IAGTO) putting Turkey ahead of other European golf hotspots including Spain and Scotland. “This is largely due to Belek, the home of championship golf in Turkey”, says Robert Nixon, executive director, Nirvana International. “This is a beautiful region enhanced with beautifully maintained, top quality golf courses, making it a golfer’s paradise”.

Ideal for renting

Taking Belek as a prime example of golf courses available, there’s the Tat Golf Club, The Gloria Golf Resort, The Robinson Club, Nobilis, Cornelia Nick Faldo course and Papillon Golf course which is a new Colin Montgomerie Golf Course. In addition there is Kaya Eagles Golf club and Lykia Links Golf and of course the National Golf Course.

NIRVANA golf 7 Gem Golf Villas

It’s worthwhile considering the possibility of owning a property there. You could buy as part of a syndicate or for personal use and of course, such a property in a prime location is ideal for renting when not in personal use.

Belek is an ideal spot for relaxation and is famed for its pine trees which fill the air with a glorious scent with plenty to do including yachting, windsurfing, scuba diving, walking, bird watching and exploring the area’s rich history. The mountains too are easily reached and there is even the opportunity to go skiing 120km away at Saklikent Ski Resort.  There are also some superb beaches dotted along this coastline.

Currently being offered is an exclusive development of brand new homes at Gem Golf Villas in Belek located in the heart of championship golf in Turkey and just 500 metres from the National Golf Club and close to the Sueno Golf Club.

Year round flights

There’s a choice of two different house types (Villa A and B) all immaculately presented and built to a high standard. Villa A has a slightly bigger floor area than Villa B. 14 of the villas are offered with a shared pool with seven of the homes having private pool and parking. The development is surrounded by attractive landscaped grounds. There is 24-hour security on site and Gem Golf Villas is close to Belek beach, mini market and shopping mall. Belek town is 2 km from the resort and offers many shops and restaurants. Antalya is 30 minutes drive. There is a shuttle bus service for transfer to golf courses, beach or Belek town centre. Antalya Airport, which provides all year round flights to and from the UK, is just 25 minutes drive away and transfers are provided.

Gem Golf Villas, Belek.

Prices

Detached villas with four bedrooms and two bathrooms (1 en-suite)

Type A – some with private pool start from £200,000

Type B – villas with shared pool start from £180,000

Contact Nirvana International on: 01189 744 950/955 or at www.nirvanainternational.com

Nirvana International is a member of AIPP and NAEA International incorporating FOPDAC.