Forget the bustling seaside resorts - Turkey is growing up and offers chic, properties to match, says Liz Rowlinson. With Cyprus going off the boil and much less to gain in Spain, the foreign property market in Turkey is blazing. It started to warm up two years ago, but since last October, when Turkey officially started EU accession talkswithe the EU, demand has soard.
Cameron Deggin says '2 years ago you could have got a 3 bedroom villa with a pool for under £100,000 in Bodrum, but (now) you would struggle to find that, if you could it would be worth £130,000 by this time next year'. 'Younger investors are buying holiday homes to rent. Return yields of 8.5% are realistic. One customer's villa has not even been built yet but he has already got rentals lined up' says Deggin. 'These days many tourists want to rent villas rather than stay at hotels'