Mark Swain from Catford in south-east London just bought a four-bed villa in Ovacik as a holiday home but decided to buy two more properties - for pure investment -because "the time is right".
Investors usually head to Istanbul in Turkey but property investor Mark Swain is putting money into the Fethiye area where he thinks there is plenty of room for capital growth. Fethiye remains a hugely popular tourist area for the British, including the picture postcard beach of Olu Deniz, lively Hisaronu, inland Uzumlu and laid-back Ovacik.
When buying his own four-bed villa in the sleepy inland village of Ovacik for £165,000 last month Mark realised the scope for further investment.
"I normally invest in the UK but I think there are currently some great opportunities in south-west Turkey," says Mark, 55. "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.
"I intend to buy a couple more properties and sit on them for a few years whilst they double in value. I have been looking at a three-bed apartment in nearby Olu Deniz for £69,000 and a three-bed apartment very near my villa in Ovacik, for £55,000. The Turkish authorities seem very keen to allow some land to be built on that wasn't previously allowed - especially around Kaya - although you have to be careful (always use an independent lawyer). It's also great that the purchase process (for a new build) only took one day!"
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Mark is using the UK-based agent PropertyTurkey.com, and has had great aftersales service. Cameron Deggin of the agents says of Ovacik: "It offers more space for your money. Detached villas on generous 500m2 plots with privacy are still affordable. The area is appealing as it is very green and in an elevated position enjoying cooling breezes. Proximity to Olu Deniz and Fethiye helps holiday lets."
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(This article was first published in A Place in the Sun Magazine.)
