Altinkum????

[george27]

Hi people , im looking for my first investment. Ive been looking at appartments in Turkey as iv heard it is a good place to invest, ive came across apartment in the Altinkum area and was wondering what this area is like for investing, is this area considered a hotspot of Turkey?

My intensions for investing is to rent out the apartment long term may 12 contracts at a time to allow the rental to pay the mortgage and keep the apartment for a few year to gain capital before selling or releasing equity and buying somewhere else.
Would you say this is acheivable in Altinkum?
What are the rental yeilds % in this area pa?
What are expected capital appreciation % pa?
Would i get any long term rental contracts in this area maybe from locals or is it more of a tourist retal area?
Sorry last question i promise.....
What other area of Turkey would be suitable for what im after, where have you invested???


So many questions.!!!!

If any one could help me out with these it would be a great help

Thanks George

 

[eddie 55]

I guess with Altinkum...there is too many properties for sale...in the long term it will be a good investment ( I have an apartment in Altinkum...2 yrs now but maybe its only gone up by £5000)
Long term renting is not that easy....unless you rent to a the Turkish..but you will not get mega bucks...(I rent my apartment out for only £12o per month)
Until the flights get alot cheaper...you will not get the tourist paying £150 per week, when you have a package deals cheaper.
Altinkum is a good in investment...but look towards the new marina area or one the small
bays around Altinkum...don.t get me wrong Altinkum is a very friendly town, and most folks that have property there seem to keep it their use for families.
Look for a resale property...better bargin (most will have all the white goods and fitting)
and the price will be very reasoable.
Also look at the forums which deal with Altinkum...some members sell there properties on these. any more questions just ask...
Best of Luck....Eddie55

 

[cj.lion-emlak]

Hi George,
a rather mixed bag of questions but many that all people should ask before investing in a foreign country.
Yes, Altinkum is a very good place to purchase, but, one of the 'Hot Spots'? If you listen to any agent they all claim that the area they are in is a'Hot Spot'.
Property increases in value are becoming a little hard to predict, there are in some areas a surplus of properties for sale both new & re-sale so you really need to do your homework before purchasing.
Rental yeilds are very different in each area, a lot will depend on the type of property and very important, the local amenities, and, to whom you wish to let the property.
I have friends & clients, some of whom are very successful in letting their property & some who are not, an example of the extremes is one friend who has rentals for his 6 bedroom villa at £900 for 40 weeks next year, mainly repeat business,and, another friend who rents his apartment for between 15 & 20 weeks a year for on average £250 pounds per week, I do know of many others who do well on renting for friends & familly, and, a few who are not having any luck at all. Obviously marketing the property is very important.
Dont go down the road of Guaranteed Rentals from your agent, you dont get anything for nothing in this world.
In my area we may be lucky with Easy Jet coming to Dalaman from the end of March this year.
Also in my area there is a huge market for rental of cheaper properties for the workers who come for the season from other Turkish cities although on average the rentals are approx' 500YTL per month some lasting from April to November.
Experience has shown that now the market has slowed a little in most area's profits will be under what a lot of the pundits predict.
Yes a property in Turkey will be a good long term investment especially that at the moment there is no capital gains to be paid here after you have owned a property for 5 years.

Good luck with your intententions.
CJ.

 

[TH4S]

Hi George,please do not rely on rental's to pay for a mortgage.

My opinion Altinkum Turkiye is very much a tourist area,

 

[george27]

thanks every1 for your replys, much apprieciated.

 

[Cagla]

Properties in Altinkum

Hi George,

If your priority is to invest then you should search for locations which has a good future like near Marina road or planned golf courses.
We are a developer and do not think away from you.
We buy lands as an investment to build on and sell to our clients.Our apartments are on the road of Marina so we expect it to have a big increase when Marina construction is finished and the road begins to be in use.Like this kind of things..
Renting can be an option but do not do your plans onto rental income.
If anyone says you can, be sure it is not under guarantee.
After you buy the house, you can search for all rental web sites and apply them to publish your house and they do good work, I have to say.
Between £150-£350 according to bedrooms, location and the most important thing season.
If you will not stay in even in summers, then you can rent it to Turkish local people which is around £160-£180.

If you have a possibility, contact with the developers via e-mails for their properties and prices and have a trip to see the houses you have been offered.

Try me, first
Best regards,
Cagla Karahan

 

[andyk2]

Work it out carefully!!!!!

Hi George,please do not rely on rental's to pay for a mortgage.

My opinion Altinkum Turkiye is very much a tourist area,

I agree with Tommy. Altinkum is a beautiful area with stunning beaches and a lovely atmosphere. It´s a great location if that is all you want,

Sadly, the investment market in Altinkum is not as stunning. It´s a long way from an airport, has a lot of property on the market and there is limited exit strategy for many of the properties under construction.

Unless you are really keen on Altinkum. Didum or Kusadasi as a holiday location for yourself, look at some of the resales available on the Bodrum peninsula (example attached). This is an eleven year old property with a two bedroom villa and self-contained studio - effectively 2 BTL properties in one.

It´s legal and you can get a 65% mortgage on it (Max cash deposit £14.875). I think you would have more chance here of covering a mortgage repayment (£275 per month) than in Altinkum, and with this being half the price of what Artev are charging for their villas further back up the hill, there´s a decent exit strategy too.

 

[TH4S]

cj.lion-emlak;Experience has shown that now the market has slowed a little in most area's

My experience the market has slowed a lot in most of the coastal area's,

İs it just me, but there seem's to be a lot of members asking the same question,They want to buy to rent out to cover there mortgage's,;?

If this was such a good idea.then why are they so many empty buidings/ surplus properties along the coast.?

Answers on a post card please,

 

[Aegean]

My experience the market has slowed a lot in most of the coastal area's,

İs it just me, but there seem's to be a lot of members asking the same question,They want to buy to rent out to cover there mortgage's,;?

If this was such a good idea.then why are they so many empty buidings/ surplus properties along the coast.?

Answers on a post card please,

I agree with you that it has slowed on the coast possibly due to to much being offered and number of clients remaining steady.

With mortgages now in Turkey the majority of buyers who want to rent will use rent to pay mortgage if they can - In fact if they can rent to cover mortgage some will buy not one but a few properties.

In my view only real places you can do this in are the Cities Instanbul/Ankara/Izmir by buying a top quality property as there is big market for for quaility rentals in these locations. Bonus is any rent after tax should cover mortgage and capital returns should be good.

 

[cj.lion-emlak]

My experience the market has slowed a lot in most of the coastal area's,

İs it just me, but there seem's to be a lot of members asking the same question,They want to buy to rent out to cover there mortgage's,;?

If this was such a good idea.then why are they so many empty buidings/ surplus properties along the coast.?

Answers on a post card please,

Sorry TH4s, tried to get the answer on a postcard but not allowed yet.


We are also being asked similar questions, I can understand the reasons though, a marketing ploy from a few years ago was 'A good income from Rental' or 'Guaranteed Rentals' unfortunately the gullible believed these ploy,s.
A rental on any property is only as good as good marketing of the property and then usually nowhere near to the owners expectations.
It is my belief that reliance on an income from rental is the wrong way to go.

In my area despite an apparant surplus of properties the buoyancy in the market is starting to make a gradual return.
Prices seem to have bottomed out and hopefully a return is now on the cards
for purchasers to buy at reasonable rates.

 

[debbiec1]

Long term rental in Altinkum

Can anyone help? I am looking for a long term rental property in Altinkum with 3 beds to start asap. I am currently in Bodrum, but have to move up the coast for business. I am on a Turkish wage though so couldn't consider anything with 'holiday prices' for tourists.