Kalkan Turkey Forum - EnjoyKalkan.com
The Owners Lounge => Buying A Property & Real Estate => Topic started by: Honey on October 23, 2012, 02:30:58 PM
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Do you regret buying property in Kalkan ?
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No but then we bought 10 years ago, as a family we had good holidays there, now our children are grown up they go out with friends, we let it very successfully and doing this is now a hobby. When we want to sell we will be realistic with the price, but then we can afford to be as we bought it before prices went up and have had a good return on the investment.
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Same as Anne - bought 10 years ago. Ideal position with great views. Good price at the time. Good rental. Constantly updating, ready to move out at some point hopefully. Glad I went for it.
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We don't regret it at the minute, but there have definately been times in the past when we have!
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We've definitely never regretted it :)
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Also never regretted it.
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First purchased in 2004/5, luckily it turned out to be a good investment, so we have no regrets.
Isis
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Absolutely not. It has been only 3 years and we love it. I am not sure exactly if it was a good or bad investment, but we enjoy every day that we spend in Kalkan. It is only October and we are already dreaming of April 2013 to go back to our house :). We love our house, the beaches, the restaurants etc everything related Kalkan, Patara, Islamlar...
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Not at all, purchased a small villa in 2011. Have got some fair sized repairs to carry out that were unexpected, So need to find some serious cash about 6k sterling, other than that would virtually repeat word for word same statement as gala79
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Like previous posts, we have asked this question of ourselves, as prices have risen generally. We bought 11 years ago and at a great price with prime views. Each time we visit we look at our wonderful views, we experience the friendliness and hospitality of the people of Kalkan, the restaurants on our doorstep, the friends we have made and always come to the same conclusion. We love it here (have travelled widely), we haven't made any rental income because we have viewed it as our home but we are slowly coming to realise that as costs rise; namely electricity / water / maintenance / repairs / flights / transfers etc.. it is costing us far too much than we would like to admit, for the few weeks we spend there.
We have let family and friends use it for free and are now coming to the conclusion that this is not really good housekeeping! By the time we pick up all of our normal bills plus the addition of the air conditioning / gas / water / wear and tear / whilst our friends enjoy this wonderful place, it is actually costing us for them to have a great holiday. We set a rod for our own back on that one but are slowly and diplomatically trying to sort that one out for next year!
We will never rent commercially but will now look at a discounted tarrif for our friends who wish to use it. This will enable us to recover some of our overheads, contributing to our flights when we visit. We were lucky we bought when prices were low. As such we don't depend on rental income.
For now, it is our slice of paradise and we consider ourselves very lucky to have found it!
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Nope haven't regretted buying either the apartment or the villa. We are selling the villa now though as I need a photography studio in the uk.
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....we haven't made any rental income because we have viewed it as our home....
....We have let family and friends use it for free....
....We will never rent commercially but will now look at a discounted tarrif for our friends who wish to use it....
Info for others, taken from the Turkish 'Guidebook on rental Income for non-resident taxpayers':
5. LOW OR NO VALUE FOR RENTAL INCOME
“Equivalent rental value” is taken as bases in case of low or no
value for rental income. According to this basis, equivalent rental income
principle shall be applied on the conditions of;
–– leaving the immovable property to the usage of other persons
for free,
–– lower value of rental income of rented immovable property than
the equivalent rental value.
The equivalent rental value in rented buildings and lands is the
rental value determined by authorized specific authorities or courts, if
it is available. If there is no renting determination or judgment for the
aforementioned building or land, equivalent rental value is 5% of its real
estate tax value.
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We rented two properties via an expensive travel company in U.K. One had a resident owner managing from close by and it was truly splendid. Everything was maintained to an extremely high level considering it was the end of the season and had been rented solidly for about 8 years.We rented a newly built 2 year old villa the week before that had non U.K owners and it was a disgrace and we were moved. I mentioned the good villa to a restaurant owner who asked where we were staying and he disparagingly said " Oh those are so old now" and I realised then that the locals don't appreciate the value of maintenance over new build.Some of the old villas are in the best spots too. Crazy and short sighted ideas.
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Could be because said restaurant had a new build development of their own - quite a few do these days and if they don't themselves, they will have a close contact who does.
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Only regret is not buying sooner! 1st discovered Kalkan in 1988, bought a 'pre owned' villa 2010!
I bought with eyes open and knowing we would need to invest further to realise its potential, having said that I bought the villa before my wife had chance to view it..... luckily she likes it. So far the rentals have exceeded expectations and I now have a great excuse to visit Kalkan early and late season! 8)