John

Hi All

We have been to Fethiye/ Hisaronu twice a year for the last four years on holiday. At the weekend we went to a property show and have arranged to go to Fethiye on an inspection trip in December!

We will be looking at buying speciffically to rent and we feel that we must cover our costs to make it worthwhile.

Probabbly looking at a two bed apartment

Can anyone that has bought to rent advise if they have found it easy enough to get sufficient rental income?

Looking at this forum we gt the impression that tourists were down this year as were people buying property and that there is a big surplus of supply over demand. Also is the resale market Ok or difficult. Are prices now stagnating or are they still on the up. Do people expect that to continue over the next few years?

Difficult questions but I would appeciate peoples perspective on these issues as it could help us to decide whether we want to take the plunge or not!
We will be specifically looking at the Fethiye/Dalaman area as we feel that Ovacik/Hisaronu is maybe now a bit over priced.

Thanks for any views

Cheers

John

demsy3

Hi John

We bought a property for our own use as we decided that to buy with the expectation of covering our costs was not feasible, if we manage to rent out for part of the year then great but we are not relying on it, in fact we will probably be using it at peak times anyway, so our reasons for buying are different from yours. In my personal opinion to buy in Turkey as an investment you are looking a minimum of 5 years, probably 10 it is not a short term money making market at the moment but prices will go up. There so many new builds that make the resale market slow, but I am sure in time this will change but it is a long term thing. I think (again a personal view) that if you are buying as a short term business venture then perhaps this is not the right place, but if you are buying to enjoy for the long term then it could be a sound investment. Just my perspective.

C

mushtaq

Turkey's rental market is not yet mature to rely on rental income, if you need to have rental income to finance your purchase, then maybe more established markets like Spain, Portugal etc might be worth looking at?

Terry&Sue

We bought a 2 bed apartment in Fethiye last Xmas for £48k and it is at the top of a lovely valley on a complex with a communal pool.
As with many parts of that area there is extensive building work and it will be up to 2 years before our roads are laid and it is on the new dolmus route.
Presently you either walk 20 minutes down the valley to the main road along dusty tracks or you hire a car!
We bought partly for eventual capital growth and secondly to have a holiday home which we could call our own and we paid for it cash following a legacy in a will.
If we had to rely on rental income to fund the purchase we would never have entertained it because ,contrary to much agent hype in the UK, if you speak to people in Turkey who know, the rental market is very hit and miss. I think the majority of purchasers at present are looking for a holiday retreat for themselves or their family and want the experience for themselves.
Having now got our apartment there and spent many happy hours furnishing it ,you become very reluctant to let it out to holidaymakers and hear many dreadful stories of how places are treated and left over a summer season!!
To us capital appreciation over time is great yes but renting out to anybody no thanks!
Compared to the UK the running costs of keeping a 2 bed apartment going every year are very low in Turkey plus compared with other countries you got it cheap by comparison in the first place!!
We are frankly amazed at the workmanship and fittings etc including some ornated ceilings wow that we got for our money and are very pleased with the costings
Unless you are under extreme pressure to rent I would say "dont" and just treat it as your little bolt hole in a lovely area in a beautiful country.
Just be in love with the place and not for what you can get out of it short term.
All the best in Fethiye as its a wow of a place with endless fascination and bustling life!!!

thurstan

totally agree with the above - you cant rely on the rental market. Have a look at the other threads on the topic and you will get a good idea of other peoples experiences

best of luck for the futeure

Thurstan

RIK

John, I suspect that you will also need to put into the equasion ' when the taxman cometh ' as they surely will.

Ian

Andywebb

Have to agree with Terry and Susan. To buy as a property as "buy to rent" and to cover costs is not good. First of course you have the tax, then the competion not only from other rentals in the area but the hotels. I mean you have to get your guests from the airport to your property, then they have to buy food maybe ( will they understand the Turkish goods) then you have to have it cleaned and maintained. To rent it must have appeal, and that costs money. Hotels they can get "All In.." no transfers no cleaning waited hand in foot. Then remember the Brits are not the only people with homes in Turkey half of the EU nationalities are their.

I rent my apartment to a Turkish person who has been vetted by my agent and will not destroy my home. Who checks out your rental clients??

John

Thanks for your input everyone. Gives us a lot to think about. Whatever happens we wont be missing out on our Turkish hols!

Cheers

John

s_tatar

hi john..

u can rental your house but at begining u not accept price same england.i can give good advice buy your home and sametimes they will rent your house other good