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Author Topic: Buying in Kalkan, viable & profitable?  (Read 12733 times)

Offline jonbennison

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Buying in Kalkan, viable & profitable?
« on: May 19, 2016, 10:52:36 AM »
Hi everyone, I have been browsing the forum for a a week or two and it looks like a great place to find out more about purchasing a property.

I visited Turkey a few years ago and traveled all over the country whilst backpacking, I loved the people and the country. I am only 33 so not exactly a typical age for a foreign property owner in Turkey but I would like to perhaps purchase a property that I could rent out and then eventually spend more time at during the winter as I get older. I really wouldn't use it much as a holiday home at present though as I prefer to travel.

Is it viable to purchase a three 3 bed villa like this and make a reasonable yield?:
http://www.propertyturkey.com/real_estate/327-resale-kalkan-villa-an-absolute-bargain-price for instance and make a success of it?

What kind of rental is realistic income yearly? Is there a way to ensure that no other properties will be built right in front of current villas?

Any information would be appreciated, I realize it's a kind of vague request.

Thanks

Jon

Linkback: https://www.enjoykalkan.com/forum/index.php?topic=13310.0

Offline caradog

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Re: Buying in Kalkan, viable & profitable?
« Reply #1 on: May 19, 2016, 06:38:05 PM »
I'm sure you will get a plethora of differing advice Jon, but quite honestly I don't think it's a good time to buy a property mainly as an investment in turkey in general and Kalkan in particular. Consider what a lot of owners on this site are saying - bookings are down. All major travel companies have cut flights. It's a situation that won't go away any time soon. Whatever people like myself and others think of Turkey there are plenty of tourists who won't come anywhere near here. Apart from perceived terrorist threats the political situation is not exactly stable, with a president who seems determined to move from a secular to a Muslim state.
In Kalkan in general there is an oversupply of properties, which may explain why the one you are looking at is described as an absolute bargain. Many owners are having to slash prices to achieve a sale, or have their property on the market for years.
As to stopping people building in front of you - forget it.
There are probably better investment opportunities in other parts of the world.

Offline MartynE

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Re: Buying in Kalkan, viable & profitable?
« Reply #2 on: May 19, 2016, 07:31:02 PM »
Well, if that property is where I think it is from the photos, I would say there is a very high risk that the olive grove in front will be built on.

Offline jonbennison

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Re: Buying in Kalkan, viable & profitable?
« Reply #3 on: May 19, 2016, 09:54:33 PM »
Thank for the information, there does seem to be a lot of property for sale in Turkey at the moment I must say. It's a shame about the political situation and of course the perceived terrorist threat. Is Erdoğan eligible for election again after his current term?

I purchased a property just outside of London last year and am now looking for another on a lower budget but there is simply nothing worth investing in at my price point. Of course I was amazed at what I could buy in Turkey for around £100-150k and it's a country I'd love to see more of-especially the Southeastern Anatolia region. If turkey does move away from secularism gradually then of course property prices will take a tumble, if however it opens stays fairly liberal and secular then once the Syrian conflict and Erdoğan are gone I might kick myself for not buying now!

Offline caradog

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Re: Buying in Kalkan, viable & profitable?
« Reply #4 on: May 21, 2016, 10:37:50 AM »
That of course is the crystal ball conundrum Jon!
Yes, by comparison you can get a lot more in Turkey in the price range you are looking at. That's fine if you are looking for something personally and plan to hang on to it for a long time. But for an investment there are plenty of growth areas closer to home - even in the UK (which doesn't begin and end in London) where you could buy within your budget, get a better return, and better capital growth, even allowing for the changes in buy to let.Think carefully and take the holiday specs off!

Offline MartynE

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Re: Buying in Kalkan, viable & profitable?
« Reply #5 on: May 21, 2016, 11:25:19 AM »
Personally, I'd go for Berlin or Budapest. I think the UK market is heading for a crash, but don't take my word for it.

Offline jonbennison

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Re: Buying in Kalkan, viable & profitable?
« Reply #6 on: May 21, 2016, 02:37:21 PM »
Well Turkey is the kind of country I would like to base myself in in the future. I would enjoy spending time there as the climate is of course so much better than the UK, it's also closer to Central Asia and China where I love to travel.

I tend to view investments for the long term, so 15 years plus. I suppose you are right to tell me to take the holiday specs off though. Its never good to be looking at 1 bed apartments in the UK for 200k then changing tabs and seeing 3 bed villas with a pool in Turkey!

As for a property crash in the UK, well it could happen but there are just not enough houses being built and demand far outstrips supply. If there is a property crash then I think it we be due to external influences on the global economy and devaluing property will be the least of most peoples worries!

Offline KEP

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Re: Buying in Kalkan, viable & profitable?
« Reply #7 on: June 17, 2016, 01:13:20 PM »
I don't understand some of above comments made, it is not a professional perspective. Kalkan is a unique resort and will always keep its' value. People with personal financial circumstances have dropped prices this year and it is buyers' year. When all is fine starting from next year these opportunities will not exist. Bookings already picked up in Kalkan after a slow start. People who knows Kalkan has no hesitation to come back.

I am an estate agent and also own 4 properties in Kalkan that I rent. I follow the market very closely. I myself bought another bargain this year already booked 8 weeks and only in the market for 1 month. There are 4 other properties we sold end of 2015 in the right location each rented 13 weeks and more bookings are coming.   

When such comments made like this it really surprises me. A further understanding is required to be able to judge the property market in Kalkan. After all LOCATION LOCATION LOCATION.

I suggest taking the benefit of this climate and you wont regret.

chickengeorge

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Re: Buying in Kalkan, viable & profitable?
« Reply #8 on: June 17, 2016, 01:46:30 PM »
I'm sure it's not Kalkan that's the problem, it's Turkey in general at the moment. I doubt very much that all the problems will be sorted out for next year. On what professional capacity are you basing this assumption on?. Don't get me wrong, I want to see Turkey back to where it was on tourism front but there are many factors here. http://www.bbc.com/news/world-europe-36549880 this was BBC report just today.

Offline paul.harrison

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Re: Buying in Kalkan, viable & profitable?
« Reply #9 on: October 26, 2016, 02:29:56 PM »
Million Dollar question I know, but what part of Kalkan is best to buy in, e.g walk to town, nice views/neighbour hood etc..

Apologies for the naive question, new to all of this....

Thanks

 ???

Offline Sezkalkan

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Re: Buying in Kalkan, viable & profitable?
« Reply #10 on: October 26, 2016, 03:54:02 PM »
Hi Paul, it's very much a personal preference. Everyone has their favourite places and reasons. We bought in Ortalaan (close to Kalamar Rd) because of the short (and FLAT) walk into town, others would say Kisla for the sunset views and longer days, some might say the top of the hill for the magnificent views! It's a personal thing. If you're thinking of buying though then good luck!
Our property - 3 bed, 3 bath, OWN POOL, fab location:-

https://www.ownersdirect.co.uk/accommodation/p1897579
www.kalkanpad.com
Facebook:- Apartment Fabio, Kalkan


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