Didim Property: A Powerful Investment PackageDate: 18 May 2011
Didim, also known as Altinkum is rapidly shaping up to become one of the top tourist resort towns in Turkey, and as a result of this, combined with its powerful investment package it is also becoming one of the hottest property investment destinations as well -- and that is saying something. Didim recently sprang onto the map when it unveiled the new multi-million pound marina, the largest on the Aegean Sea, this showed that it is an upcoming city.
Holiday home investors, also known as fly to let investors are looking for a strong and growing tourism market, but more than this they are looking at what would fuel continued growth in tourism and therefore demand for holiday rental accommodation. This comes down to three main things:
In recent years airlines have been scaling back on flights, and this left many investors out of pocket. Thankfully flights to Turkey have been continually increasing as tourism has continued to grow, even during the downturn. Didim is served by three airports, Bodrum 60 miles away, Dalaman 75 miles away and Izmir is 90 miles away. Both Bodrum and Dalaman are well serviced from UK and European airports, including a variety of low cost flights. Dalaman in particular has seen a number of new flights from the UK in the last 18 months.
Plenty to See and Do, Long Season...
In a destination like Didim the main pastimes are pool and beach activities, but investors will still want to see plenty of shops and restaurants, and also things like water-worlds, aquariums and such like, and possibly some historical sites for the more discerning traveller. They can find that Didim offers an abundance of things to see and do.
They are also looking for a long season, and more often than not for a town that does not completely shut down even in low season. This is because most investors will use the property in low season, when the rental market is slower, and will want to have a choice of restaurants and shops; this has been a big pitfall for some investors. Didim is seen as a year round destination, its year round climate brings tourists even in low season, and because of this there are plenty of restaurants and shops that stay open all year round.
Undersupply and Undervalued Property ...
The savviest of investors will be carefully analysing the supply of holiday accommodation, as well as the value of property in comparison to what rents can be achieved. Didim puts a firm tick in both of these boxes. In recent years tourism has grown far quicker than supply levels of holiday accommodation. Because of this, and the fact that Didim property is comparatively cheaper than the rest of Turkey, investors can expect solid rental yields on Didim property.
Low prices, developing infrastructure, and growing tourism in a year-round destination, it is little wonder that more and more people are spotting the property investment potential in Didim.
Author: Lora Fairclough