“It’s Time To Start Living The Life You’ve Imagined”
This quotation, attributed to the American author, Henry James,
captures perfectly the mood among property buyers in Altinkum,
Turkey. James would have been intrigued by the excitement
rushing through this Aegean resort - an excitement that started
in 2002 with the change in laws allowing foreign nationals to
own property in Turkey in their own names, and now fuelled by
intense interest from the British media and the experiences of
early investors.
Until a few years ago, Altinkum was purely a holiday town. An
arc of golden sand running gently down into a turquoise sea, so
perfectly clear that in the shallows, the fish skimming around a
bather's feet appear to be swimming in glass. A beachfront lined
with small bars selling typical Turkish food and international
favourites, a small central square with stalls of trinkets for
souvenir hunters, and one nightclub summed up the total of
Altinkum's tourist facilities.
Now property is the main industry of Altinkum, and the once
minor resort in Turkey has become an investor's dream.
Specialist magazines like A Place In The Sun and Homes Overseas
have featured articles on the Altinkum gold rush, and the
property boom has even caught the attention of the national
press and television stations with news stories and TV
programmes hailing Turkey as the next Spain and Altinkum as the
new Marbella.
The Altinkum locals have responded in kind, ploughing billions
of lira into regenerating the area. The main highway into the
resort is now a tree-lined boulevard, with flower beds lining
the pavements. Along the main beach runs a paved promenade
studded with palm trees, and a marina and golf course will
complete the transition from dusty town to cosmopolitan resort.
The local investment is seeing a major return. Apartments and
villas are realising a year-on-year increase of as much as 30
percent, and two bedroom apartments which were available in 2000
for £6,000 are now asking upwards of £25,000. The area has seen
its first sale of a single property over £200,000, and while
this is still remarkably cheap to European eyes, it marks a
major achievement for Altinkum, posting its entrance into the
same league as Bodrum and Fethiye, which have been established
property hotspots for many years.
Altinkum’s future is assured. The once-seasonal holiday town,
deserted in winter by all but a few, now has a wealth of
full-time expat residents. The more confident restaurateurs are
staying too, providing excellent food and a place to meet
throughout the winter. The biggest hotel in Altinkum held its
first New Year’s Eve party this year, and next year promises a
yet larger crowd to please as more and more buyers take the
plunge and choose Turkey for Christmas.
Author: Laura Bower Original Article:
http://www.tropicalbeachhomes.com/
http://www.tropicalbeachhomes.com/News.asp?N=5&L=EN
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