SEARCHING for that dream home in the sun but can’t afford Spain?
Then why not take a look at Turkey?
The country at the eastern end of the Med is becoming increasingly popular with Brits buying abroad, with 17,000 homes now under UK ownership.
And with apartments costing as little as £20,000 and the sun shining for more than 300 days of the year, it’s easy to see why.
The trend shows no signs of letting up, with bargain hunters searching the Mediterranean and Aegean coasts for affordable places in golf and beach resorts.And with massive investment in airports, hotels, marinas and tourist hotspots, some property experts are predicting Turkey could soon overtake Spain as Brits’ favourite spot for a holiday home.
The most popular area is the coastline between Kusadasi in the north and Alanya in the south-east, which includes the resorts of Bodrum, Marmaris and Izmir.
Bodrum, one of Turkey’s largest and most cosmopolitan destinations, has long been popular with buyers. The bustling harbour town of Kusadasi and Altinkum, with its stunning beaches, are both rapidly-growing resorts where prices are still competitive.
Michael Johns, of agents the Right Move Abroad, says: “Altinkum has the nicest beaches in Turkey and demand will only increase with two new golf courses planned in the area and a marina to be completed by 2009.”
There are also ambitious plans for Dalaman, including new golf and leisure resorts close to the airport.
One of the downsides of this popularity is that flights have been hard to find recently – although one of the major no-frills airlines is planning more routes to Turkey and a new international airport opens in Alanya next year.
Not everyone is talking up Turkey, however, and a few agents believe some resorts have the same problems as parts of Spain. There is already talk of oversupply in some areas, cheap-looking apartments and arrests of town officials for approving illegal planning permissions.
And when it comes to paying for your home, British buyers will find it far easier in Spain. Most who buy in Turkey either pay in cash or borrow from the equity on their UK home rather than take out a Turkish mortgage.
A spokesman for NatWest International says it has no plans to lend on Turkish homes as yet.
“Spain continues to be No1 and we’re 20 per cent up on mortgage inquiries there since last year,” he adds. “Turkey is maybe Spain 20 years ago, where cheap deals were available. But I wonder if buyers know how safe they are when putting down deposits.”
Things are set to get better, with a new mortgage law in Turkey opening the doors for British buyers to borrow money locally. Spot Blue, an agent in the resort of Fethiye, says come January there should be no problems. “In fact,” says spokesman Julian Walker, “British buyers can already borrow from two Turkish banks right now.”
Popular hotspots
-Kusadasi: Up-and-coming harbour town, near Izmir airport.
-Bodrum: Great nightlife, close to smaller resorts.
-Altinkum: Beautiful beaches, close to Bodrum airport.
-Alanya: Big expat community, good beaches.
-Kalkan: Attractive friendly resort, growing rapidly.
-Dalaman: near airport, plans for golf and leisure resorts.
‘We were priced out of Costas’
HIGH prices on the Spanish Costas left Steve and Ann Jackson wondering where to buy a holiday villa… until friends told them to try Turkey.
“We’d never even thought of Turkey but when we got to Kusadasi we found the people really friendly and we loved the lifestyle,” says Ann. “It’s got a harbour, markets and one of the best sunsets I’ve seen.”
The couple, who work on the construction team at Heathrow’s new Terminal 5, say when they took their daughters, Kelly, 11, and Lauren, 10, to their new three-bedroom villa they absolutely loved it.
The Jacksons have bought next door to friends at The Green Village, a mile from the beach and a short drive to Kusadasi town.Facilities include pools, a fitness centre and restaurant. Steve says: “Being in the building trade I was expecting to trash their workmanship but I was amazed at the high quality.”
Steve and Ann bought from developer Jappa and paid £87,000
