Mark Swain from Catford in London’s south east bought a four-bedroom holiday villa in Ovacik, and now he’s eyeing up two more investment properties.
Swain says “the time is right,” adding that he believes popular Fethiye has plenty of room for capital growth. The Mediterranean town, with its generous harbour and prosperous centre, is a year-round location known for its beautiful beaches, fascinating history and Turkish Mediterranean cuisine.
Swain’s villa is in peaceful Ovacik, a few minutes drive from the picturesque - and popular - Oludeniz Beach and Blue Lagoon. When he bought the £165,000 property the investor realised the area’s huge potential.
“I normally invest in the UK but I think there are currently some great opportunities in south-west Turkey,” Swain says. “Although it’s 200-odd miles away I think the unrest on the Syrian border has had an affect – I have talked to a couple of owners who are quite keen to sell up. I’ve seen a four-bed villa for sale for only £89,000 in Ovacik.”
The 55-year-old plans to buy two three-bedroom apartments near his holiday home, and then wait to reap the benefits. “I’ll sit on them for a few years whilst they double in value.”
Swain used PropertyTurkey.com for his purchase, and was happy with the aftersales care he received - as well as the purchase process itself, which took a day to complete.
PropertyTurkey.com director Cameron Deggin says places like Ovacik offer “more space for your money.”
“Unlike larger centres, you can buy large, detached villas on 500 square metre plots for as little as £100,000.” Ovacik appeals to investors who want the lifestyle as well as investment, he says.
The UK-based property consultant says that destinations like Ovacik are ideal for those who want to enjoy their investment. “Not only are you buying an investment property, you’re buying a lifestyle,” Deggin says. “You can spend your summers in this incredible place, while watching your capital gains grow, and even earning rental income on top.”
Deggin agrees with Swain that Turkey’s south-west holds “huge potential.”
“Compared to oversold areas like the south of France and the Costa del Sol, Turkey is still relatively untouched. Its infrastructure is still developing, the economy is strong and the possibilities are endless for investors.”
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