Three years ago, we were selling brand new 2-bedroom apartments for £25,000. Today, we are selling similar apartments for £40,000.
Three years ago we were selling three bedroom villas for £60,000. Today, similar properties are fetching £100,000.
Investment in property has long been seen as the safest long term option for your money. Provided you buy with thought and caution. Altinkum, a popular coastal resort town in Turkey, offers a wealth of opportunity for investment.
Read the following carefully and you could be on the road to making your money work better for you.
- 1Altinkum is an exciting place in which to invest at the moment. The town itself is changing almost daily. New properties are rising from its clay earth like daffodils in the spring time. It is a buyers market and you have an array of options to choose from – from standard 2-bedroom town apartments to large 4/5 bedroom villas.
- 2The Turkish builders are quick learners, and have rapidly picked up on the discerning demands of the foreign investor in terms of quality finishings etc.
- 3The Turkish building industry itself is well regulated – everything is built to proper Turkish building regulation standards. All building projects are regularly inspected by independent government surveyors and a paperwork trail is in place to police this. Make sure that your agent can verify the trail on your chosen property.
- 4You have a wide choice of new build and resale properties which have all been checked and the paperwork verified to ensure your investment choice is safe.
- 5Be realistic with your budget. Five years ago 2-bedroom apartments were selling for £20,000. Today properties in that price range tend to be smaller studio type apartments.
- 6Understand what it is that makes prices increase – the cost of land, the cost of building, and market demands. Altinkum is growing at a fast pace, and much of the available land around the main beach resort has now been developed. As a result, with a larger demand for properties in that area, both the land prices have increased and accordingly the price of the finished apartments.
- 7As the build quality of the properties has improved due to market demands, then so have build costs. The basic, uninsulated, single glazed, unadorned and to be quite frank cheap buildings of before are now being replaced by insulated, double glazed, aesthetically pleasing properties with all the trimmings. This has inevitable consequences on the final price of a house.
If you add to the mixture the huge amount of investment in infrastructure being carried out by the council in and around the main town of Didim, then you know you are hedging a good bet. Traditionally Didim was the forgotten area of Altinkum - it is this part that tended to feed the holiday resort during the summer, opening up only on Saturdays for the big weekly market. Today its busy streets jostle with both Turkish and British residents all year round.
The town’s main boulevard has been landscaped and planted to add definition and depth to the principal road down to the beach. What was once nothing more than a long and straight earth packed race track, is now a long, rambling thoroughfare with shady trees and ample pedestrian walkways – giving Barcelona’s Las Ramblas a real run for its money!