- Villas
- Luxury Villas
- Apartments
- Luxury Apartments
- Rural Property
- Commercial
- Land For Sale
- New Developments
Turkey enjoys a very special location at the crossroads between East and West, overlapping Europe and Asia geographically. The location attracts visitors from all over Europe and increasingly, from all over the world. Tourism is growing every year and the Turkish Government is investing substantially in tourism promotion. Kalkan is a favourite destination for European holidaymakers, many of whom are choosing to buy property here.
In the construction sector, the value of new buildings increased by 53% in 2005. In the same year, there was a 57% increase in the number of new homes built - much of that increase was fuelled by foreign investment. The experience of more than 11,600 (as of end-2005) foreign capital establishments, including 104 of the Fortune Top 5000 companies, confirms Turkey as a predominant investment location. Returns on investment are high and the political climate stable.
The average growth rate for the last 4 years, which is well above many OECD countries, implies a dynamic and growing economy. WTO outputs also state that Turkey is among the most dynamic 20 countries in world trade. In the last 4 years, Turkey's GDP grew by almost 34%, on a cumulative basis (in real terms). Turkey's real GDP and GNP increased by 7.4% and 7.6% respectively in 2005. This makes Turkey one of the fastest growing economies in the world. Turkey is expected to grow by more than 5% per cent annually in the next 5-to-10 years.
The demand from tourists for good quality rental properties has grown considerably in the past 5 years. In Kalkan, villa and apartment rentals now account for over 65% of the tourist market. The season is from April to October with July and August the peak months. This year (2007) the average rental for a three bedroom villa with private pool in July
or August is over £500 per week.
A large number of websites now feature Kalkan villa and apartment rentals and well appointed properties, in popular locations can expect to achieve a minimum occupancy of 75% during the tourist season.
High quality standards, choice of buying options
In the past 5 years the quality and availability of building materials and fixtures and fittings has improved beyond recognition. The construction industry works to very high quality standards and all new properties must meet international quality standard criteria. All major developers in Kalkan offer a ten year construction guarantee.
The wide range of architect designed projects offer the potential investor several options for purchase. Until recently, the choice which was most popular was to buy a villa or apartment which was already built and ready for immediate occupation.
As the property market in Kalkan has grown and potential investors have become more demanding, there is a growing demand to buy off plan, before the project is completed – this allows the buyer some say in the final design and choice of fixtures and fittings.
The third option is to purchase land and have a property built to the exact specifications of the purchaser. In the final option, some buyers build for immediate resale whilst others build for their own use.
The building season in Kalkan is regulated by the local municipality. Heavy construction can begin on November 1 and all external work which may create noise or disturbance must finish by May 1 in the following year.
This ensures that unlike many other tourist destinations, in Kalkan there is no disturbance to holidaymakers during the prime holiday months.
Projects which begin construction in November can be finished by the following May, and can be ready for occupation that summer.
Construction work can be planned to suit the requirements – both financial and logistical – of the buyer, taking as little as eight months or as long as two years.