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Old 14th May 2019, 23:02   #1 (permalink)
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What would you do with a Duplex in Altinkum??

Hi,

Not been in here for years.

Back in 2007 I bought a Duplex apartment in Altinkum, just opposite green park villas on Poyraz Cad.

Wife number one loved it, I rarely had the chance to use it due to work commitments.

We bought it because we found that Pegasus were flying from Bournemouth airport (only 15 mins away from my home), and flights were pretty much all year round to Izmir or Bodrum for only 75 return, and because we had a holiday home, could travel with just hand luggage, so literally used to get to the airport half an hour before the flight left. All was good.

We also thought we were buying in a good spot, the place had a pool, it was opposite some nice villas with grass, the marina did not exist, looked like the right spot.

Now fast forward to 2019..

The pool was shut down a couple of years after buying the place, the locals with apartments in the building, or holiday homes there, did not want to pay maintenance for the pool, the maintenance man pulled out, and despite my best efforts the pool has been empty since.

Now the only flights to Turkey from Bournemouth are to Dalaman during the season, which is obviously a 3 hour drive in a hire car (which I always rent one anyway) to the apartment.

Wife number one and I are no more, since 2010, and for the next few years I had no chance to use the place because of business, but hey, the cost of a cleaner going in once a month to check on the place and the bills is not a great deal.

Wife number one has turned into wife number two and we have a toddler.

I am getting to the point where I am getting a better work life balance, or at least trying to, and I would love to be using the place for holidays except for one problem, the toddler!

Our little boy is great, but the duplex front door has 4 flights of stairs leading to it, all marble clad and are tiring for me, let alone a toddler or me ending up carrying a toddler because he gets tired climbing them. But even if he had the stamina for them, I would be petrified of him falling down (or up) these stairs.

Inside the duplex is of course another set of stairs between the two floors, tiled, unforgiving with a curve as you go down them... I would be having kittens with him running about... And that is without the several high balconies the place has... All in all, I think this duplex is hell for any protective or over protective parent like me.

The other problem is traveling, if I travel to the apartment via Bournemouth-Dalaman, I think it will be about a 9 hour journey all told, not ideal for a little one, or at least the nerves of his parents, and then be followed by climbing several flights of stairs.

If I go Gatwick to Bodrum, you can take off an hour at the other end, but add two hours drive at this end, plus having to check in and go through security a couple of hours earlier, so it ends up being an 11 hour journey for the little one.

I have absolutely no idea how much the apartment is worth, but to be honest, with the current exchange rate, selling the place and drawing the money back to the UK is not an option, I would rather leave it be and wait for the day that the Lira recovers.

I did have an estate agent a year ago tell me that if I gave him 25k (this was before the Lira crashed mind you) he would be able to sell my place buy me one of the houses on green park... I have no idea if it is a good deal, maybe someone here might have a better idea.

If it were a house, with a working pool, and a maintenance contract/committee in place, I think the journey with the little one is do-able, and I could imagine us having many holidays there.

None of this was at the front of my mind, until I had a call from an unknown property agent in didim (with a UK mobile number) who said he had a family in London who wanted to buy a place in my road in Altinkum, and would I be interested in selling it, which some friends in Istanbul have told me sounds like a scam, where they find properties with next to zero electric bills, and start looking for the owners in case they have died, and then forge documents (I don't know if this is true) but it put this all to the front of my mind, that I really should do something about the apartment.

Although I never wanted to rent it out, I am now thinking it might be an option. Either long term, holiday let, or Air-BnB.

What is a 3 bedroom duplex, in that part of town worth as a long term rent?

Do holiday makers really rent apartments in Altinkum via Air-BnB? has anyone here done it? Several are listed, but some seem to be hotels trying to fill rooms.

Do holiday makers really rent apartments via other sites? If so, what do they rent out for?

Does anyone here have any idea what a duplex in this part of town, and how much a house on green park sells for?

I suspect that long term rents in Altinkum are pretty low, probably that low that breakages, problem tenants, do not make it worth while for someone trying to do it remotely, even with a local turkish agent?

Anyway, my mind has being going backwards and forwards about this over the last week or two, but I think the problem is, I don't know the local market, what house prices are doing, and what things get rented out for. So what I am looking for is some good old fashioned advice from the locals, which is where many of you come in.

Even part of me has thought about selling it in Dalyan near Dalaman, or another part of Turkey, but I have no idea what prices are like in Altinkum, let alone Dalyan... And at least in Altinkum I have a friendly local guy who keeps and eye on the place and sorts out cleaners when I am not there, so Dalyan feels a bit like the wild west in comparison...

So are any of you in the same boat? Any of you rented a place out there? Any idea of what places really sell for in Altinkum (internet prices are not something I trust, as there always used to be someone in Altinkum trying to cash in on dumb brits over paying with them as a middle man. (or at least that is the way it was in 2007)

Many thanks in advance, as I really do not know what the best thing to do is.

Jon
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Old 14th May 2019, 23:40   #2 (permalink)
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Re: What would you do with a Duplex in Altinkum??

Firstly I would say dont enter in to an exchange type sale / buy.
Taking all you have said about your life I would sell up and rent when you want to have a holiday there, or just book a package deal.
Renting has its problems registering and declaring income from it.

Others will have more detailed info but from what you say if it were me I would sell up and move on.
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Old 15th May 2019, 00:21   #3 (permalink)
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Re: What would you do with a Duplex in Altinkum??

Sell up but deposit the money in an interest bearing account in TL and wait for the right opportunity to transpire.
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Old 15th May 2019, 07:03   #4 (permalink)
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Re: What would you do with a Duplex in Altinkum??

All good advise - not so easy to sell now, a least at the price that you might find acceptable. Renting or package hol's with young children is a great option. Lots of all inclusive s with plenty of activities for the young ones. No cooking nor cleaning involved either ! Let us know what you decide.
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Old 15th May 2019, 07:07   #5 (permalink)
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Re: What would you do with a Duplex in Altinkum??

P.S. we always have three nights at the wonderful Venosa every time we visit Turkey (twice a year) can highly recommend it. Children's activities, wonderful pools, spotlessly clean, excellent food, helpful staff. It's in Yesilkent, near Altinkum.
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Old 15th May 2019, 07:09   #6 (permalink)
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Re: What would you do with a Duplex in Altinkum??

Sell it, if you are able!
All of your problems are property related, therefore get rid of it and the problems, choices disappear.
Presumably you won't lose much if you purchased that long ago?
I own a property in Dalyan, let me assure you it is not the wild west! On the flip side being 30 mins from airport and a really good town property is not cheap.
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Old 15th May 2019, 09:30   #7 (permalink)
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Re: What would you do with a Duplex in Altinkum??

First rule ; do not give anyone , anywhere, power of attorney to act on your behalf. EVER.

Second; renting short or long term is fraught with problems, you need a trusted agent and they are difficult to find, specially at a distance. You also run the risk of a long term tenant sub-letting holiday accommodation and insurance problems.

Third; any financial activity will involve accounts and tax both at home and abroad. Although you can allocate income between you as a couple to use both sets of personal allowances, any tax arrangements will need advice unless you are confident you can manage on your own.

The advice you get on here will be the result of hard experience, go with it.
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Old 27th May 2019, 20:59   #8 (permalink)
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Re: What would you do with a Duplex in Altinkum??

Quote:
Originally Posted by Kanga View Post
First rule ; do not give anyone , anywhere, power of attorney to act on your behalf. EVER.

.
Apologies for going off topic here, myself and wife recently came back from Altinkum looking at various properties, 2 different estate agents showed us their properties.

Both said I need to give them power of attorney to get things done if I was in the UK, even if I was in Turkey I would still need to give them the power of the attorney, is that right?

Or have I missed something?
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Old 27th May 2019, 21:06   #9 (permalink)
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Re: What would you do with a Duplex in Altinkum??

That is crap..................they WILL ROB YOU BLIND....DO NOT DO IT

If you need someone trustworthy , Pm me .I know of 3 decent emlaks
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Old 27th May 2019, 21:13   #10 (permalink)
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Re: What would you do with a Duplex in Altinkum??

Both agents British and working for well known estate agents and is a member of AIPP.

So what is the procedure for buying?

Is there a link you could point me to please?
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