“If you want to sell your Turkish property be realistic about the market” says Carole and John from Berkshire who recently sold their apartment in Fethiye to Turkish buyers.
The real estate market in Turkey has changed over recent months.
The property market in Turkey has changed over the last twelve months. The traditional British and European investors that used frequent agency doors are dwindling due to negative press reports and political concerns. Although many of these fears we believe unfounded, certainly in coastal areas, the impact on the Turkish property market is being felt. Agents do now have to work harder to attract property investors, and vendors need to be more realistic about prices to attract a buyer.
Meet Carole and John who sold their Turkish property quickly to a Turkish family.
Meet Carole and John who recently sold their two bed apartment in Deliktas to Turkish buyers via Oceanwide Properties. We ask them why they were selling, how they managed to achieve a sale so quickly, and what advice they would give others looking to sell their property in Turkey this year.
What initially brought you to Turkey?
We first came on holiday 19 years ago, before a lot of tourism took hold. Many of the towns back then were more like villages. We used to hire a yacht and sail along the coast so got to see a lot of places. We returned many times after, but every time we came to Fethiye we fell in love with the town more and more. That’s what made us start thinking about purchasing a property here. We wanted to spend 6 months of the year in Fethiye and come and go as we pleased.
When did you buy your apartment?
We bought our property 12 years ago, back in 2004. The property market was just getting underway here. We knew we wanted something near Fethiye and not in a tourist area. We didn’t want to play a big part in the ex-pat social scene, the locals are so helpful and friendly, we wanted to be near them. We had done a lot of research on areas and Deliktas appealed. It was not far from the town and a charming village then. At that point it was just a dirt road with a few villas, little Turkish houses and a handful of apartments – the majority of residents were chickens, goats and sheep! When we saw our apartment we knew it was for us. We have been happy with it for 12 years.
Why did you sell your apartment?
Our health is not as good as it once was so we decided it’s time to head back. We do still intend on visiting Turkey often and have many great friends here – Turkey hasn’t seen the last of us! We have bought a new home on the south coast of England where we intend to live permanently. It may not be as sunny as Turkey, we may have to battle the wind and rain on the beach, but we are looking forward to it.
Many are saying that the real estate market in Turkey is slow at the moment. How did you manage to sell your property so quickly? What was your experience?
We hadn’t expected to sell our property quickly – it only took 9 weeks in total. People warned us that the market was slow. We guessed that the trouble in Istanbul and Ankara, and the bad press in the UK, would have scared away a lot of people that didn’t know Turkey – but we were hopeful.
Oceanwide Properties came recommended by a few friends who had used them in the past. They were very helpful and explained that although the foreign market was slow, they still had British and foreign clients and a lot of Turkish buyers that may be interested in our home. We chose their exclusive vendor deal to benefit from the additional marketing. They explained what other properties in the area were going for and that we did have to be realistic on price to compete. Within a few weeks we had a number of viewings and two offers, both from Turks. Selling to Turks is different to foreigners. On the viewings we hadn’t expected the entire family to turn up, you normally expect just the couple buying the place. With Turks they bring everyone! They take their shoes off at the door and start wandering around – we had a full house on a couple of occasions with people in every room! The new owners bought via a mortgage which is different to a foreigner purchasing with cash. This did take time for them to organise and secure the money, as it does in the UK, but we believe that we achieved a fair price given the current market. We are happy with the result.
Did the recent trouble in Turkey prompt you to sell your home?
No! You are more likely to be run over by a bus than you are to meet a terrorist in Fethiye! Life is a gamble. Many years ago we were waiting for a bus in London around the corner from a bomb that went off in Horse Guards Parade. Yes that scared us and many other people. But you can’t stop going out of your front door in fear of what could happen. What kind of life is that? We have never once felt unsafe or seen any trouble here in Turkey – we have in the UK! The terrorism threat certainly didn’t influence our decision to turn back to England, it’s just our time to move on.
Do you have any advice for others looking to sell their Turkish properties in 2016?
Do your research and use a decent agent – you would in the UK so why should it be different here? We would never have managed to get through the sale without Suleyman Akbay, Alper his translator, and his team. A good agent should take a lot of the worry out of the sale. They should give you good advice on what your Turkish property should realistically achieve and let you know how they intend bringing in the customers. The foreign market has been affected by the recent troubles in Turkey so the agents marketing is very important. We were happy with Oceanwide Properties and found their team very professional. We would 100% recommend them to anyone looking to sell their Turkish property.
Oceanwide Properties News would like to thank Carole and John for sharing their story. We wish you the best of luck in your return to the South Coast.
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