Fly to Let investors with properties in Turkey are set to cash in on the increase in popularity of the country as a summer holiday destination.
According to Europe's second largest travel operator Thomas Cook, Turkey is expected to attract thousands of Britons to the non-euro destination in 2009. Turkey’s numerous beach resorts, reliable climate and lower cost of cost living compared to west European resorts make it ideal for family holidays.
Tourist arrivals to Turkey have risen steadily over the past few years as the country has opened up and accessibility has improved. Recent figures from the Ministry of Culture and Tourism reported a 12 percent rise in overseas visitors totalling 26.3 million (of which 2.17 million were from Britain and over 32 percent entering via the tourism capital of Turkey, Antalya) in 2008 compared to 2007 and a further 20 percent increase in the number of British tourists is anticipated in 2009 according to an undersecretary of the Tourism Ministry.
Recognising the importance of tourism to the burgeoning Turkish economy longer term strategies have also been announced including the ambitious aims for 2023 by the Culture and Tourism Ministry which include the creation of seven tourist development corridors and nine cultural and tourism zones in order to attract 40 million visitors in addition to an airport, 11 cruise ports, 10 tourism cities and nine marinas to be completed by 2013.
One of the key appeals of a Turkish holiday this year is affordability. The country is not part of the euro zone and hence relatively unaffected by the pound's poor performance against the euro; the lira has reportedly fallen one third against the dollar and one fifth against the pound.
Access to tourism hot spots such as Antalya on the Mediterranean coast or the Bodrum Peninsula on the Aegean coast has improved with direct flights offered daily from the UK by both scheduled and charter services.
Due to increased demand, seat-only travel operator Avro will be offering additional charter flights to Antalya during the summer season starting at the end of May.
These positive tourism indicators for 2009 also spell good news for those with Fly to Let properties in Turkey. Some 73,000 foreign nationals (mainly Britons, Germans and Greeks) own properties in the country predominantly along the Mediterranean and Aegean coastlines and interest in property investment continues to be strong.
Joseph Upchurch, MD of real estate developer Aston Lloyd who has a number of projects in Turkey, said: “As a company, Aston Lloyd has a great deal of confidence in Turkey, and the returns we can offer our investors. Two Aston Lloyd developments are under construction with one nearing completion, which is a positive reflection on the strength of Turkey and the opportunities that exist for investors looking to make real returns in turbulent times.
“Turkey is one of the top places in the world to buy property right now.”
Those with existing properties available to rent in key tourism locations such as Antalya are set to be benefit this year as holiday villa rentals become increasing popular. The mixture of quality accommodation in top locations as well as the flexibility of your own rented villa is of high appeal to families or those looking for a more bespoke vacation.
As the and Aston Lloyd investor, Joe Calzaghe CBE, the undefeated former world super middleweight champion boxer is an Ashton Lloyd investor. He said the main thing for him when making a property investment was location and value for money.
He added: “I've chosen places that have a lot of tourism because you want to know you can rent it out. I've also chosen places I would want to go myself, including beautiful countries like Turkey.”
One such example of a high quality development in Turkey which is due for completion in July 2009 and available to purchase as a Fly to let property for the peak summer season are the Caretta Villas in Belek from Aston Lloyd.
Comprising 87 modern Mediterranean style 2 and 3 bedroom villas situated 10 minutes from the nearest beach the detached villas will include terraces on all floors, fitted cupboards in all bedrooms, a private parking space and optional private swimming pool. The site itself enjoys complete privacy due to its restricted access, offers two communal swimming pools, two tennis courts and seated landscaped gardens. The new build villas will be available from €160,000 / £143,577 through Aston Lloyd.
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