French property

France is attracting increased levels of interest from UK-based property investors according to experts. The country's popularity is helped by no serious impact from the credit crunch currently beleaguering the US, faster Eurostar rail services from London and new low cost airline routes this summer.

Currency exchange firm HiFX said that last year France accounted for more than a quarter of all the enquiries it received from prospective buyers. Ski resorts such as Meribel and Courchevel were highlighted as especially popular locations, despite their relatively high property values.

Mark Bodega, director of HiFX, said: ‘Prices are higher in well-established resorts but the rental yields also remain consistently high.' He added that France's close proximity to the UK was one of the main reasons for its popularity among British buyers with the fact it is serviced by numerous low-cost airlines helping draw people to the country.

It is also one of the most popular places for those moving abroad. 'France is one of the most popular destinations for British expats. A growing number of people are setting up home in France every year,' said Marjorie Mansfield of financial advice group Siddalls.

Property in Tuscany

Buyers of property in Tuscany are attracted by the climate, landscape and lifestyle. Hindsight is a wonderful thing, but foresight is even better - particularly when it comes to buying property in Tuscany. Adventurous British buyers who snapped up derelict villas for sale in Tuscany for a song back in the late 1960s were condemned by their peers as pazzi - crazy.

Ah, sweet lunacy - who knew?

"The feudal system was late to end in Italy," explains Rupert Fawcett, of estate agents Knight Frank. "Farm workers, who had been living in these farmhouses in return for providing produce to the landowners, found that the land they were given when the system collapsed wasn't enough on which to sustain themselves. Emigration to the city centres followed and the properties fell into ruin." Enter a small but now-to-be-envied group of foreign buyers and the rest, as they say, is history.

And history is a big part of the area's appeal. What makes Tuscany so uniquely spectacular is its inimitable combination of the man-made - Renaissance and medieval art and architecture - with the naturally occurring splendour of the landscape. "With every corner you take as you drive the roads in Tuscany, there's another amazing view," says Lars Christiaanse of Chesterton International, "while the cities and villages are basically open-air museums." Add to this the climate, the lifestyle, the food and the wine, and the only wonder is the fact that more of us didn't make a grab for our slice of la dolce vita back when it was available for loose change.

Casa Caldiola is a 315-square-metre farmhouse dating back to the 11th century and, while we don't know how much it may have cost you back in the 1960s, what we do know is that, today, it will set you back around €3.75 million (£2.6 million) through Knight Frank. Far from being the ruin it may once have been, however, the villa was beautifully restored a mere ten years ago. It now boasts such modern comforts as underfloor heating and a solar-heated swimming pool with hydro-massage system, as well as more traditional features, including arched framed windows, antique stone fireplaces, handmade terracotta floors and a ninth-century stained-glass window.
The property also features a 55-square-metre guesthouse and is located in the hills with, as you'd expect, awe-inspiring views of the surrounding countryside. Cortona, made famous by Frances Mayes' Under the Tuscan Sun, is just 22 kilometres away but other options for amenities include Morra, three kilometres away, and Citta di Castello, with its fantastic farmers' market, within a 25-minute drive.

Cortona may have been put on the map by the writings of the American Mayes but, according to Fawcett, it's Chianti that represents Tuscany's 'core' area - the one that everyone gravitated towards when Tuscany first became an overseas buyer's destination. Today, it's still the best known and most sought after of the region's areas, stretching all the way from Florence to Siena and boasting glorious vineyards, hills and scenery. L'Uccellare, available through Knight Frank for €3.5 million (£2.4 milllion), is set in the Chianti hills and surrounded by three hectares of orchards, mature gardens and fields of wild flowers.

The property has a number of bedrooms, including a master suite with sitting room, as well as a split-level reception room and 80-square-metre music room. Features such as stone arches, wooden ceiling beams and exposed stone work have been retained throughout; there are also a number of outbuildings and storage areas that could be modified to provide further accommodation.



Since Tuscany is such a well-established market, it's now more difficult to find a ruined property on which to work your restoration magic than it was five or ten years ago. In any case, says Rupert Fawcett, the type of buyer that the area attracts these days tends to be cash rich and time poor, so is unwilling to take on the hassle of such a project.

To this end, there's been something of a move towards gated community developments in the region, which give owners the ability to come and go at ease with the peace of mind that comes with buying a managed, secure property. And, lest you get any horrific ideas about the glorious Tuscan countryside being scarred by the sorts of modern monstrosities that 'gated developments' so often entail, think again. Strict regulations are in place to preserve the beauty of the region and 'new' developments are typically only restorations, which preserve the external, historical facades of existing buildings but bring the interiors firmly into the 21st century. Examples include castles converted into apartments or groups of farmhouses forming a community development.

One such project is Borgo di Verardinga in Peccioli, a 19th-century farmhouse and cottage being converted into four two-bedroom luxury apartments and a three-bedroom villa. Surrounded by 100-year-old cypress trees, the complex will have a swimming pool and solarium, while nearby leisure facilities include an 18-hole golf course, fishing lake and hot thermal springs. On the market with Chesterton International, prices start at €550,000 (£375,000) for a unit of 132 square metres.
There are exceptions to the 'restoration' norm, of course. Corte d'Aquis is being marketed through Focus International Property Group as a luxury modern development set to reshape the ancient Tuscan landscape, representing an architectural rival to the traditional property ideal. Located in Casciana Terme, one of Italy's oldest spa towns, the 52-apartment complex is set in landscaped gardens around a communal swimming pool, with prices starting at less than €200,000 (£140,000) for a one-bedroom, one-bathroom property. Each apartment is being sold fully furnished and decorated, and comes complete with a luxury kitchen, private terrace and underground parking. Those craving low-maintenance living will also be drawn to the fact that the development offers on-site amenities, such as a restaurant, bar and spa & treatment centre, plus 24-hour security, a concierge service and management office to take care of rentals.

According to Christiaanse, rental possibilities are a factor for consideration for many buyers in Tuscany, who seek a second home as well as an investment opportunity. "There's a large number of buyers who want to rent their properties out for part of the year and this is definitely a lucrative option," he says. "Tuscany is a popular destination, not only with European holidaymakers but also with those from the US, and returns of five to seven per cent can be expected with very little effort, while more aggressive marketing will see even greater gains."

In terms of capital appreciation, he says, Tuscany can't fail to represent a wise investment - it will never collapse but nor is it a quick-gain option in the way that some of the emerging markets might be. Fawcett agrees: "Tuscan property, and Italian property in general, tends to be a safe purchase as there's not a big investment drive, which helps to keep the market stable." Added to this is the fact that, due to development restrictions, demand will always be greater than supply.
As it covers a relatively large area, one aspect of Tuscany's appeal for buyers is that they have the option of buying inland or in more coastal locations, with popular choices including San Gimignano, Grosseto and Volterra.

"Volterra is about 30 minutes from the sea and this area is what can be described as the traditional part of Tuscany, with the landscape to match," explains Linda Travella, of Casa Travella. "There are quite a few agriturismo, B&B-type properties for sale; you can also still find the 'rustico', which are a popular choice with retirement buyers but the prices are quite high, as are the rental returns. Another reason for the area's popularity is that it's an easy to drive from Pisa, which is serviced by budget airlines."
Casa Travella is marketing a property here, which forms part of a large farmhouse and comprises two apartments: one on the ground floor with an open-plan living area, bathroom and bedroom; and another on the first floor with three bedrooms, two bathrooms and, again, open-plan living. For €360,000 (£249,500), the sale also includes another two-storey stone building, albeit one that is in need of total restoration.

Aside from Pisa, Florence is the other popular point of arrival into Tuscany. This magical city is just 60-odd kilometres from Il Paladino, a 639-square-metre country house occupying seven hectares of land and on the market with Casaitalia International. For €2 million (£1.4 million), you can expect a total of 17 bedrooms and 16 bathrooms in the main house alone, while two separate guest apartments, one needing some work, offer a further four bedrooms. Refinished less than ten years ago, the property retains many of its original features such as sandstone window ledges, cotto floors and wooden beams, while outside, there's a large swimming pool and stunning views in every direction. Arezzo, which officially falls within Umbria, is just 30 minutes away.

With so many property prices in Tuscany being out of the average buyer's league, much has been made of nearby Umbria and its appeal as a 'poor man's Tuscany'. But Rupert Fawcett cautions against falling too hard for this notion, as you're likely to be disappointed. "Umbria is more rugged than but equally attractive to Tuscany," he says. "You will likely get a bit more for your money in this region but while it represents a viable alternative to Tuscany, it's not an especially cheap one."

Even so, it's hard to imagine too many five-bedroom farmhouses available in Tuscany for €890,000 (£617,000), as is the case with one of the Umbrian properties that Knight Frank are marketing. Situated in Piegaro, about 20 kilometres from Perugia, the stone property comprises a two-bedroom property on the first and second floors, while another three bedrooms are housed in the ground floor apartment, which has its own garden and access to the swimming pool, making it an ideal purchase for someone seeking to maximise personal use as well as rental potential.

Bulgarian property

The main advantage of Bulgaria for the foreigners is the low cost of the properties. Here is more about property prices and the factors influencing the real estate market in Bulgaria.


Property in Bulgaria, by Western European standards is very inexpensive. Bulgaria has so much to offer it is not surprising it is quickly getting more popular as an alternative country for property investment from the traditional European destinations.

Some shrewd investors who bought in Bulgaria two years ago have seen the value of their property increase dramatically. But there is still much potential, peak real estate deals at the sea side are at 120 Euros per square meter but property experts expect this to rise to 400 Euros per square meter by 2007.

The average 2003 increase of Bulgarian real estate prices is between 24 % and 28 %. The expectations are slowing down the tendency and keeping a moderate, but systematic pace of increase until year 2007, the tentative year scheduled for Bulgaria to join the European Union.

Local property market is experiencing an impressive revival and there are several factors that contribute to this: Mortgage lending potential - currently, mortgage loans are 5% of the total credit supply within the local banking sector. In developed credit markets, this rate is usually in the range of 15 - 20%.
Increased foreign direct and indirect investment in Bulgarian real estate determined by:

Bulgaria's expected EU membership perspective;

Expanding tourist industry;
Stable macroeconomic indicators:
GDP annual growth of 4.5 % to 5%;
Dropping unemployment rate: from over 16 % to under 13 % for the last 15 months;

Improved credit rating;

Attractive Return on Investment rates in the real estate sector - on average 15 to 18 percent.
The market of Black Sea coastal real estate in Bulgaria has grown significantly since the beginning of year 2003. Sales prices of brand new income residential properties have increased almost twice in some areas compared to year 2002. Seafront real estate was on average 30% more expensive than water view locations. Bulgaria is still a popular holiday destination for lower income tourists, which is the main reason for higher demand for smaller and cheaper real estate.

Local market of residential properties in big cities along Black Sea coast has grown notably. During the last year demand was higher than supply, due on one hand to the increased supply of mortgage loans and on the other to consistent migration of workforce from inside the country to sea resorts and big coastal urban centers like Varna and Bourgas where more jobs are available. In 2003 the unemployment rate for the city of Varna was 5% in accordance with the NSI of Bulgaria. As a result, the price hike of residential property was almost 24% in Varna.

Plots of land were also attractive for investment purposes. In 2003 their prices had increased more than 30% on average compared to year 2002. Some beachfront parcels for development of leisure properties had reached EUR 35/sq.m. compared to similar properties sold at USD 15/sq.m. in 2002. In certain areas close to leading resorts like Albena, Golden Sands, Sunny Beach and others, prices had increased more than twice for the previous year and varied between EUR 35-55/sq.m.

During the first quarter of year 2004 the REMI index, reflecting real estate trends on the residential, business and land markets, has risen with 4.28 points, prodded by the rising prices at residential areas.

According to NSI of Bulgaria, the quarterly real estate prices growth rate is 12.5%. Yet, Sofia is the most expensive real estate market with 2.8% increase followed by the towns of Varna (23.7%), and Bourgas (16.8%).

Property overseas

As recently as a decade ago, who would have thought of buying a flat in Tallinn, Sofia or Prague? A buy-to-let in Manchester or Leeds, perhaps, or maybe a holiday home in the Dordogne or Chiantishire, but that was about it. Few people had even been to Estonia, Bulgaria or the Czech Republic, let alone contemplated investing their hard-earned cash there.

That was then. These days, it seems, no self-respecting property portfolio is complete without an “emerging market” or two. Yet just as we are becoming used to these new exotic destinations, so making money in them is proving more difficult than it once was.

In the 20 years since they sent the Russians packing, the former communist countries of central and eastern Europe have provided everything the property investor could wish for: as their economies have been restructured along western lines, so incomes and house prices have risen — sometimes at annual rates in double digits — and local interest rates tumbled, fuelled by easy credit.

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In much of the region, though, the party is well and truly over, at least for the time being. Prices in Estonia and Latvia, for several years the poster boys of the region, have fallen sharply. Anyone who has bought a new build off-plan in Tallinn, the Estonian capital, in 2006 will find it worth 10%-15% less once it is completed this year.

The market also appears to be turning in Poland, after average rises of as much as 51.6% last year, reports Mamdom, an internet property portal. The prices of flats in Warsaw are falling and look set to do so through much of this year as the market struggles to absorb the number of new developments being completed. Krakow, that picturesque favourite of carousing British stag groups, is also looking overheated.

Yields everywhere in the region, not so long ago still in double digits, are down near or below the cost of borrowing — which has itself been pushed up by the credit crunch. The days when it was possible to mortgage yourself up to the hilt and still enjoy a positive cash-flow are long since past.

So is there anywhere left in the new Europe where it is still worth buying? Neil Lewis, founder of Crewe-based Property Secrets, which specialises in sourcing new-build property in central and eastern Europe, says the overall price trend remains upwards, but points out that most countries develop along a similar path: an initial phase of rapid growth, followed by months of stabilisation and then a second period of modest but sustainable rises again. “What you should bear in mind is that these are emerging markets, but emerging within a very safe political and therefore economic environment,” is his analysis.

Lewis’s tips? Sofia and Bucharest, capitals of Bulgaria and Romania respectively, are both still in the early stages of the first phase, he says; Prague, the Czech capital, and Bratislava, its Slovak counterpart, are already into the second phase but still solid investments.

There are countries he would avoid, however: Hungary, because of its overall poor economic performance, and the Baltic states, where prices simply went up too far too quickly.

Mark Giddings, 36, who works in operations for a Japanese investment bank in the City of London, is among those putting his money on the region: last February, sensing the long bull market in the stock market was coming to an end, he sold his shares and bought two properties off-plan in Sofia and one in the Romanian city of Brasov for a total of £180,000.

“I just felt there is more potential for capital growth in those markets,” says Giddings. “Both have recently joined the EU, there is lots of foreign investment going in and there is a young generation in their twenties and thirties who want to go out and work and earn money — and they want to live somewhere better than all those old communist buildings.” He admits, though, that he has “an appetite for risk”.

But why confine your search to Europe? Egypt and Morocco both offer low entry prices: you can pick up a studio in the Lotus Breeze development in Hurghada on Egypt’s Red Sea coast for as little as £14,500 and a one-bedder for £22,500 through Egypt Venture (www.egyptventure.co.uk) — although the sheer amount of construction underway in both countries could hit rental income and constrain capital growth.

Such oversupply has already cast a shadow over parts of the market in Dubai — prices increased rapidly earlier this decade, providing huge profits for speculators who bought and sold on their properties even before they were finished. Things are a lot calmer these days and the prices of flats in some developments are expected to fall back as more projects are completed. Rents, though, are strong and even rising in some cases. The smart money, meanwhile, is moving to neighbouring emirates such as Abu Dhabi or Ras al Khaimah trying to emulate Dubai’s success or slightly further afield to Oman and Qatar.

India, too, is finally coming onto the radar of British buyers keen to benefit from the country’s huge economic potential that looks set to transform it into a global superpower. Prices are still extremely low by international standards — David Stanley Redfern, for example, is selling two-bed, two-balcony 1,060sq ft flats in a newly established special economic zone at Rudrapur, in Uttarakhand in northeast India, starting at just £29,000 (0800 634 2377, www.davidstanleyredfern.com). Although people of Indian origin can buy freely, those without a connection to the country may need to set up a company and buy through that.

Not exotic enough? Then what about Mongolia, a country rich in copper, gold and oil, which is benefiting from the global commodity price boom? “The capital, Ulan Bator, has a unique property market, and one that should appeal to any sophisticated property investor,” says Emma Holifield, a marketing executive with Property Frontiers, which is selling flats in The Temple development there, with prices starting at about £85,000 for a 1,410sq ft two-bedder.

“With half the population of the city living in the traditional mountain tents known as gers and the other half in old buildings with bad insulation, demand for good quality accommodation for locals is vast,” she says, going on to claim that rental yields are still as high as 13%, thanks to a supply squeeze in the middle market.

And there is the Far East. Claire Brown, founder of Claire Brown Realty, which sells across the region, says those in search of a pure investment should bypass already well-established markets such as Thailand or Malaysia and make for Phnom Penh, the Cambodian capital. “It’s like Bangkok or Kuala Lumpur eight or so years ago,” she says, and if you think her claim that “there is a rising middle class of Cambodians who want funky high end loft-style living” is substantial enough to base an investment decision on, about £50,000 will buy a flat in a refurbished French colonial building with the prospect of 9% gross yield a year — “and there are waiting lists of people to rent them,” adds Brown.

She also tips Manila, capital of the Philippines, where prices start as low as £35,000. Prices in both cities are rising strongly, driven by economic growth and demand from the locals.

If that seems a step too far, the Caribbean is also emerging as a destination for investors. Thanks to the year-round sunshine and popularity of the region with both American and European holidaymakers, resort-style developments, typically clustered around a hotel, are the islands’ up and coming investment product — and currently offer better yields than holiday properties in France or Spain where the climate makes the rental season much shorter.

Marco Bonini, managing director of Caribbean selling agents Prestigious Properties recommends Providenciales island, part of Turks and Caicos. “It’s a British protectorate and everything is based on UK law,” he says. “It’s a tax haven, there is no income or inheritance tax, it is politically stable, there is zero crime and everything is priced in American dollars.” Bonini bought into the Alexandra Resort and Spa on Grace Bay when the scheme was announced in 2004, paying £133,750 for a studio and £169,600 for a one-bed flat. They have since been valued at £185,000 and £285,000 respectively, and have been yielding him 6% a year.

Bonini expects prices in both to continue upward and, for those with slightly more to invest, recommends Canoan island in the Grenadines; Pirates of the Caribbean was filmed nearby. “About £470,000 will get you a one bed,” he says of the product he is marketing in the UK, justifying the claim with the explanation that it will have scarcity value, “because there is just no land to build on and the authorities are very careful about granting planning permission.”

Back on the mainland, central and south America also have their charms. Panama, in the grip of a property building frenzy, offers good growth prospects and high rental yields. And with its currency pegged one to one to the American dollar, property has been getting cheaper in sterling terms.

The northeastern coast of Brazil is also proving attractive to investors looking for holiday property — along more than 1,000 miles of coast from Salvador to Fortaleza, fishing hamlets are being swallowed up by gated resorts with private pools, golf courses and spas. Here, too, the sheer scale of what is going on necessarily provokes fears of overdevelopment — although the emergence of an increasingly affluent Brazilian middle class means there is not too great a dependence on British and other foreign buyers.

So is there anywhere left? Although one of the world’s wealthiest countries, New Zealand, too, is proving an attractive emerging market for some British buyers, not least because of the tax regime: there is no stamp duty, land tax, property purchase tax or capital gains tax.

Property New Zealand, for example, is selling the Harrogate Apartments development in the Auckland suburb of Flat Bush, priced at £115,000 for a one-bed 646sq ft flat. Unusually, they come with a 15-year lease from Housing New Zealand, a government agency, which not only gives you the security of a steady yield of just over 5% but also saves you the hassle of finding a tenant 12,000 miles from home.

Peter Conradi’s book, Fly to Let, is published by Cadogan Guides, £12.99.www.flytoletguide.com

Exchange rates

THE ups and downs of international currency can make or break an overseas property investment. Say, for example, that you bought a flat in Spain two years ago, committing to a fixed euro mortgage with monthly repayments of ¤1,000. In March 2006, with ¤1.46 to £1, your first payment would have cost you £681. Now, with £1 buying only around ¤1.30, you’ll have to find £764 a month. Though of course rental income in euros will also have increased in value against sterling.

Or you might have paid outright for a 2m rand house in Cape Town, South Africa — which would have cost you about £185,000 in March 2006. Today, a 2m rand property will cost only £129,000, as the rand has fallen from 10.8 to 15.5 to £1. So even with the Cape’s recent price inflation, your purchase, should you wish sell it today, will barely make back the original outlay.

One way to minimise the impact of exchange-rate movements is to find a specialist broker to give you a “forward contract” on a fixed exchange rate for a fixed period, which can usually be for up to two years. This way you will know exactly how much sterling you will have to find for that period, though you could lose out if the real exchange rate goes against you.

Shop around for the best rates, which are unlikely to come from high street banks — and also look out for the cheapest transfer charges and other fees. If you could accurately predict the world’s currency movements you would be too rich to be reading this, but make sure you factor them into your investment risk assessment.

Property Overseas

Turkey has been called "the cradle of civilization" and by travelling through this historic land, tourists will discover exactly what is meant by this phrase. The first city ever settled in the world with comparatively modern organizational systems such as agriculture, animal husbandry, and trading, was a Neolithic city Catalhoyuk, in central Turkey, dating back to 6,500 BC. From the days of Catalhoyuk up to the present, Turkey boasts a rich culture that through the centuries has made a lasting impression on modern civilization. The legacy of all those admirable cultures make Turkey a paradise of information and cultural wealth. Hattis, Hittites, Carians, Lelegians Phrygians, Urartians, Lycians, Lydians, Ionians, Persians, Macedonians, Romans, Byzantines, Seljuks, and Ottomans have all made important contributions to Anatolian history, and ancient sites and ruins scattered throughout the country give proof of each civilization's unique distinction.When you travel by car, within half an hour you can meet to an ancient city, remaining from those civilizations. Even in the ancient times, this fascinating country was respected by those ancient people, therefore it has been called as ANATOLIA, which means in ancient Greek, ''The lands, where the sun rises from '' as many vital initial ideas came into existence from her fertile lap. No doubt, people always have been proud of breathing on this amazing peninsula, combining different cultures, customs and traditions, and she, once again started to offer her hospitality to new cultures & people, by introducing a new law permitting foreigners to buy houses, who deserve to meet her affectionate and fertile lands.According to the law on ‘property purchase by foreigners in Turkey’ enacted on January 7, 2006, foreign nationals (real persons) are able to acquire real estate in Turkey on the conditions of being reciprocal and complying with legal restrictions.At the heart of the Aegean lies Didim,an ancient town of marvelous landscapes,wondrous ruins and over 30 coves and beaches.Altinkum which means "golden sands" certainly lives up to its name.Altinkum has three main beaches and its gentle slopes make it ideal for families.Towards the smaller "third beach" new five star hotels are being constructed and a new marina is due to start shortly which will berth up to 400 yachts.Also land has been set aside by the government to create a golf course which should add to Altinkums fast growing reputation as a place to invest.Altinkum is situated 1 hours drive from Bodrum airport which is to have a new 8 million pounds terminal built, to supply the ever increasing number of tourists to the region.Bodrum airport will be open all winter this year with charter flights arriving for the first time.Izmir international airport is also open year round and is 1 hour 45 minutes away by car.Easyjet have just announced that they will be operating flights to Turkey and it will only be a matter of time before other low budget airlines start.Major attractions also include a large water park,famous hisitorical sites such as the Temple of Appollo,nearby ancient cities of Miletus and Priene offer something to suit all ages.Ephesus the largest city in ancient Asia Minor is home to The Temple Of Artemis one of the seven wonders of the ancient world.Ephesus is home to Virgin Marys House,her final resting place and a major attraction of Catholics from around the world.Thousands of European people are purchasing in Altinkum and property prices are rising on a monthly basis.New shops,bars and restaraunts are opening on a daily basis to cater for these new residents of Didim, and the town is now open all year round, due to the increasing number of foriegners making Didim their home.The weekly market held every Saturday in the old town, provides all the provisions you need.Turkeys largest supermarket chains have opened large stores in Didim and Tesos are starting to expand in Turkey.Didim has recieved a Grant from the Turkish Government to improve the roads,electricity supply,sewrage and public facilities in order to improve Didims reputation and encourage even more tourists to visit this beautiful area.Construction is fuelling Didims local economy and the local people welcome the tourists with open arms.With all these attractions and future plans for the region most analysts are predicting that the Altinkum resort will in time become one of the largest and most desirable areas for investors and holidaymakers alike.This is just the start and we would encourage you to come and meet us and see for yourself what is happening one of the worlds fastest growing touristic resorts.Andrew Coates partner of ADO Properties Ltd who are developing projects in the area says on investing in property in Altinkum in particular‘Altinkum has seen major changes in the property market over the last three years.The announcement of the Ageans largest marina starting to be constructed which will berth 800 yachts is going to positively effect property prices in Altinkum.Recently a tender was submitted by companies to develop large areas of land for golf courses in Altinkum.If these are announced we will raise our prices by 20% overnight as will most of the other developers who are developing here.Our company generally increase our prices of the apartments and villas for sale by 20% during the construction of our developments in Altinkum,and many investors in Europe are purchasing off-plan and capitalising on these price increases by selling on completion.The new mortgage reforms introduced this year will also buoy the market as Turkish people and foreigners have never been able to borrow Money for Turkish property.All in all we feel that buying property in Turkey will prove a very good investment both in the short term and long term’For more information on purchasing apartments,villas,land and businesses in Turkey please view http://www.adoproperties.com/ for further help on investing in Property for sale in Altinkum.