Turkey’s investment potential “yet to be seen”

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by Gill Montia

Turkey has been gaining success in attracting foreign property buyers, with around 17,000 UK investors already owning property in the country.

Mortgages are only just becoming widely available to prospective foreign purchasers and the the true investment potential of Turkey has yet to be seen but prices have risen by between 15% and 20% over the past 12 months.

Some overseas property experts believe it will experience similar growth to the Spanish market in the 1970s.

Aegean Flights now provides year-round services to meet demand from property investors, for as little as £39.

Some of the country’s new build projects have been described as unimaginative but a development around the former fishing village of Yalikavak, half an hour from Bodrum airport, has a certain charm.

The Aegean Hills complex comprises 34 two-storey apartments, a large communal swimming pool, plus tennis courts and other amenities.

The overall impression is minimalist and uncluttered; air conditioning units are cleverly concealed and there is an underground car park.

According to Braemoregemini, the Nottingham-based Anglo-Turkish partnership behind the development, most of the Aegean Hills apartments have been sold but there are plans for a second development, Aegean View, which will consist of 20 buildings divided into 38 two-bed apartments.

Aegean Hills apartments sell for between £160,000 and £185,000 and prices at Aegean View are between £110,000 to £120,000.

However, it is still possible to purchase a three-bedroom flat in the area for around £65,000.