Alanya offers room for growth

Country:  Turkey

12 November 2008

The fast emerging seaside city resort of Alanya, Turkey, situated on the southern Mediterranean coast, is trying to lure more British second homeowners, by constructing a range of new and improved residential schemes.

With the European property markets generally sluggish and the UK pound currently at an historic low against the euro currency, more British holiday homeowners are looking further afield to countries like Turkey, to avoid the more expensive eurozone.

The Turkish economy, which is partly reliant on both tourism and property, appears to be well equipped to withstand the global financial calamity, after recovering from its own crisis in 2001.

Turkey’s economic strength, combined with a general housing shortage, hopes of joining the European Union and a maturing mortgage market, is currently driving property prices upwards.

Nevertheless, the overall standard of accommodations in some parts of Turkey, including Alanya, remains somewhat inadequate. However, new much needed residential schemes are now being constructed.

The Hill, for example, which is currently being built in collaboration by respected developers Koray and BPI, in Konakli, Alanya - shortlisted for Best Development Turkey at this year’s Homes Overseas Awards – has taken residential architecture in the region to a new level.

Located on the hillside, the development will feature a selection of modern one, two and three-bedroom apartments a stone's throw from the beach. The project will also include landscaped gardens, a pool area and access to spa facilities. Completion is earmarked for the tail end of 2009.

Property prices at The Hill are not cheap however. Apartments start from £89,000 for a one-bedroom apartment and range up to £217,500 for a three-bedroom penthouse.
 
Andrew Hawkins, head of Chesterton International, the appointed estate agent for The Hill, says: “Turkey is an excellent choice for people looking for an exotic destination with a European outlook. The weather is spectacular and the area offers a wide range of year-round facilities and amenities. 

“The Hill is being developed by a prestigious Turkish firm, so buyers can be assured that they are buying a top-quality holiday home that more than compares with similar resorts in other countries, at a lesser cost.”

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