The increase in the development in golf tourism in Turkey has had a positive effect on the Turkish housing market. Several international courses have been completed and more are in the pipeline; Turkey’s Golf Federation has large-scale plans to open a further hundred courses across the country over the next 15 years and they will be using leading names in the world of golf course design like Montgomerie and Faldo to augment the quality of each course and its facilities. Any small investor looking to make a good return on their money should consider buying golf property whether they love the game or not because the currently low prices are sure to sky rocket in the future.
The Expert View
With around 60 million golfers worldwide the Turkish government has seen the potential of this lucrative tourist market and is hell bent on getting the lion’s share and with one of the world’s fastest growing tourists markets they look set to succeed. Director of the Turkish Ministry of Culture and Tourism in London, Irfan Onal says, “Turkey is keen to continue attracting even more visitors and offering world class golf courses and facilities along with excellent value real estate.” Turkey has been the rising star in the race for a slice of the global tourist stakes. In 2008 ABTA the Association of British Travel Agents witnessed a 20% year on year increase in Turkish holiday bookings and for the first time ever it overtook Spain as the number one holiday destination in the UK. Turkey’s appealing climate attracts golfers from across the globe in particular from the UK. Laurence Kaye, a golf holiday specialist with Alternative Travel adds, “The country offers year-round golfing with the mild, sunny winter weather making a particularly attractive alternative to the cold, wet British weather. Even in the hottest months of July and August early-risers can get a round in and be relaxing by the pool before things get too hot.” On top of this, the increase in low cost flights makes it more easily accessible.
Golf Property Hot Spots
Many of the coastal courses are situated around Belek 30 km away from tourism capital Antalya whilst those with more of a city base are located around Istanbul. However, the popular Aegean resort of Bodrum now has three courses with a further four in the planning stages. Quality golf accommodation is being constructed to meet both the current and future demand. Property located close to a number of courses is prices at around 64,000 Euros to 150,000 for a one or two bedroom apartment on the luxurious Lavender Hills Dream Village, which is 5 minutes from the Vita Park Golf Course. Turkish real estate agent Buying in Turkey is offering a 9% rental guarantee over 3 years with no service charge and 4 weeks annual personal use. International golf course designers, Golfplan, Fream, Dale and Ramsey will start construction on a new 18-hole course in Bodrum in the near future. The exact location is yet to be announced but the complex will contain a grand hotel and 4,000 villas. Property for Sale Turkey is offering three bedroom villas close to a Nick Faldo course in Belek for around 194, 500 Euros. The stylish villas come fully furnished with a free membership to one of the courses. The Hilton Hotel Group are building a 100 million Euro resort in Sarigerme, 15 km from Dalaman airport. The complex will surround an 18-hole golf course and is due to open this year. The Hilton Dalman Golf Resort & Spa is set to include a private beach and a luxurious hotel; off plan property in the area is currently priced at around 140,000 Euros for a two bedroom villa with Buying in Turkey. Kusadasi Homes are selling golf property on the International Kusadasi Golf Resort due to open later this year. The 18 hole course is designed for both novice golfers and those looking for a challenging course alike. Apartment prices start at 70,000 Euros.
Rental Returns
Many agents are offering guaranteed rental returns on golf property – such is the demand that rental agents are offering between 5 and 10 per cent returns annually. The closer the proximity to a course or courses the greater the demand; keen golfers love to try out new courses so property in the Belek area, which ahs the greatest concentration of courses is the most sought after. Golfers tend to be cash rich and they expect luxury; many will bring their families on holiday with them and will expect a good range of facilities to keep them occupied whilst they spend the day on the course, therefore property with swimming pools and close to shops, restaurants and beaches are popular. Prices range from 350 Euros per week to 900 Euros depending on the season, size of the property and proximity to the golf course.
