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Old 6th April 2010, 17:49   #1 (permalink)
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What's A Property Worth?

I know this is completely subjective, and not all scientific, but please indulge me as I think our views and experiences will be interesting to all.

If you bought a property for say £50,000 five years ago, what do you think/hope/know the property is now worth?

I know there are many factors involved in this and it'll be a totally rough guess, but maybe some of you that have sold in that period will be able to give some ideas?


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Old 6th April 2010, 17:52   #2 (permalink)
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Re: What's A Property Worth?

I allways say that a property is only worth what a person is willing to pay.


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Old 6th April 2010, 17:55   #3 (permalink)
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Re: What's A Property Worth?

i bought 2 years ago for £52.000 and i have seen the same apartment on the same site being sold for 59 and 62
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Old 6th April 2010, 17:59   #4 (permalink)
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Re: What's A Property Worth?

There are too many factors which could come into play,does it have the tapu and hab cert.more so the tapu,or does the bank have it in which case it's worth nothing.I think all things being equal I would think in todays market between £30000 and £35000 but the hard part will be finding a buyer.
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Old 6th April 2010, 18:02   #5 (permalink)
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Re: What's A Property Worth?

..it really depends on the property you bought,(appartment ,villa semi ,or detatched, for 50 k 5 years ago depending on the area that you bought ..i would estimate roughly that should be worth 90k. about 18 months ago ..a bit more..prices have dropped dramaticly..i have always said about buying a property in turkey is very easy ..to sell one is a totally different story.
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Old 6th April 2010, 18:12   #6 (permalink)
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Re: What's A Property Worth?

Glad to say mine has doubled in 5yrs and set to double again when the new Gasipasa airport is in use for International flights.
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Old 6th April 2010, 18:17   #7 (permalink)
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Re: What's A Property Worth?

i bought a two bed two bathroom duplex apartment 120 sq metre about 5 year ago for just over £52,000. it cost us £3000 to fully furnish it. we were constantly told that it had gone up in price to as much as £75,000, and there were in fact apartments up for sale at this price. we were not interested in selling at the time, however we bought a larger apartment two year ago and put the first one up for sale. although we were not in a hurry to sell we actually sold it last september and got £51,000 so more or less what we paid for it really. we know that the emlak sold it for quite a bit more but we received the money in cash within a few days so we were quite happy. we were lucky as we also had the apartment up for sale with another emlak who has been named and shamed on the side forum for ripping people off. i know that a lot depends on where in turkey people own property to how much they sell for, in the antalya region i believe that the prices are much higher than other parts of turkey. we also had all our paperwork in place.
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Old 6th April 2010, 18:21   #8 (permalink)
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Re: What's A Property Worth?

It really does depend on location...that's usually a main contributory factor in the market price.

Because of the new marina in our village prices are soaring. There's a piece of land near to us that's for sale, priced at 1 million dollars for 5 donums! Crazy silly price though, it's never going to sell *although I'd be happy if it did!*

We've added around 350,000 tl to the value of our home in the last 7 years. It definitely paid to build, and invest in an up and coming village.

On the other side of the coin, kusadasi has been over developed and the market has suffered severely the last year. Prices are actually dropping and I doubt there's as much profit in a property that was purchased 5 years ago this year, as there was 2 years previous (if that makes sense?!)

Who knows what the market will do next year?

Charlotte
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Old 6th April 2010, 18:22   #9 (permalink)
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Re: What's A Property Worth?

Quote:
Originally Posted by JEANNIE View Post
I allways say that a property is only worth what a person is willing to pay.


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Old 6th April 2010, 18:33   #10 (permalink)
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Re: What's A Property Worth?

A friend of ours bought 5 years ago, has a 3 bed 1st floor apartment with shared pool (1 other apartment only) they have their tapu. They paid £43,000 and were offered £65,000 by a Turkish person a few weeks ago. I agree that its worth what someone will pay for it but that's not a bad return
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