Appollonium, Bozeat, Nr Altinkum

[kinggoey]

help required
i have purchased a property on Appollonium, this is in a place called Bozeat, Nr Altinkum in a bay
has anybody else purchased at this site?
i have purchased through a builder called Artev
apparently these are one of the big builders in the turkey area
has anybody heard of the? do you have any views
I am really question whether i have done the right thing
i have read some info on this site and the altinkum areas in nice, but it appears there are too many properties there and not much chance of rental
i am thinking of pulling out as i dont think the prices have gone up at all and the chance of re-selling is slim or more to the point non exsistent
any help would be appreciated
king goey

 

[Lysos]

You already realise this, but you should ask questions first, not afterwards. There is a vast oversupply of holiday property in Turkey and has been for several years. Little chance of rental and virtually no chance of resale (you can't offer the incentives and financing that developers can). I assume you have only paid a deposit; regard that as paying for education - walk away.

 

[kinggoey]

thanks for the good news
there are some good reports of good rental outcomes, but generally its doom and gloom
i have paid further deposits and set to lose 5k if i walk
therefore its a big decision
then again the euro is through the floor and gonna cost me 10k extra to buy the property
heads you lose, tails you lose

 

[Lysos]

kg,

In years to come 5k will seem like small change. If you really want to buy in Turkey - after you have done lots more research - wait awhile and you will pick up a bargain resale from a distressed seller. Continue with your current purchase and chances ae you will end up being the distresed seller !.

 

[sharri]

Hi KG
Im in the same position as you, Ive bought 2 properties through Artev at the Apollonium site. I only bought off plan with a view to resell before completion, which Artev were completely aware of. Since then I have been unable to resell, and in June I contacted them to inform them and they told me if I cancelled my contract I would stand to lose 30% of my deposit, but I couldnt cancel until within 30 days of completion.
So, 30 days to go and I cancel, but they refused my request and have stated that they will not return my remaining 70% of the deposit. If I want to see any of the money again, I have to take the company to court, which my solicitor had advised me could take up to 5 years, I will have to pay all costs and they want £2700 up front, and 5% of the total amount afterwards regardless of outcome.
Artev never reply to emails, and it usually takes over an hour every time to even get through to the office without being cut off. If the amount was 5K I would walk away, but it is substantially more, and my entire life savings.
This doesnt help you Im afraid. There are also 5 other people that I am aware of in exactly the same position with Artev and the Apollonium.

 

[kinggoey]

Hi KG
Thanks for the note
Are you using Kazmaz?
if so forget it, they are worse than useless
if you want a solicitor who i am dealing with then please let me know and i will pass on her details for you
i have defo cancelled and we are in our rights to do so
my solicitor has contacted artev already, but i dont think she is having much joy
i am more than happy to take this to court and i think we will win
cheers
lee

 

[sharri]

hi Lee
Thanks for the info
If you could send me your solicitors details that would be great.

Cheers
Sharri

 

[kinggoey]

hi Lee
Thanks for the info
If you could send me your solicitors details that would be great.

Cheers
Sharri

hi sherri
here is the solicitors details below
just memtion that i gave you the details
good luck

[email protected]

 

[knightrider]

Apollonium or Appollonium nr Altinkum

Hi Kingooey, (and other list members)

Where did the Bozeat location come from for Apollonium resort? I just ask because it is a village near where i live in the UK.

I have bought an apartment on the resort after having stayed at Artev's other resort at Hillside Garden for two years. I'm also due to visit any time soon to inspect the apartment and go through the snagging.

My general thoughts for everyone here are that Artev are both slow and bad at communicating but two years on after Hillside was completed, all the facilities are great and it is a fantastic place to holiday and that the kids never want to leave.

I loved the Apollonium resort because of the location and i dont doubt that prices are down but they are down the world over. I dont see a reason to panic and in the long term I'm confident it will be a good investment as well as a great place to holiday in the meantime.

It's well to note that a lot of hotels in Turkey are closing down because they can't compete with the Brits love of wanting to rent private villas.

Lastly, i would love to make contact with anyone else who has bought at Apollonium or any Artev resort as a sort of owners group.

All the best.

 

[kinggoey]

Hi Knightrider

Thanks for the comments
Very good timing as i have been trying to cancel for the last few months, but have now decided to stick with the appartment and go through with the purchase
I hope you are right with your comments, and i do hope the investment does wel in the end
Have you been on the webside, eye on the worldwide web
there is a whole blog of owners and there are lots of discussions about the site in general which is defo worth a look
more people use the other site are setting up some kind of owners club

happy to chat more on here mind you, if not no doubt will hopefully hook up with you in turkey one day

cheers
lee

 

[meze]

Your Apartment in Altinkum

Hi,

I have just read your previous message from last July.
Artev are a very well known and respected builder in Turkey. If you are in no rush to sell your apartment, I would suggest that you keep it, as there is a lot of investment happening in Altinkum.

The new Marina will be completed in summer 2009, and plans have been approved for a new golf course.

There are lots of apartments in Altinkum, which may have caused an over supply initially, but long-term I believe it will be a good medium to long term investment, taking into account the new marina and golf course.