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Turkish marinas on the up

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New marinas offer Mediterranean magic - 3 July 2007

As investors continue to search for new methods of buying property which is both in the traditional market for tourism rentals, as well as being a desirable place to own, there is an increasing market for properties on marina developments.

Marina properties, and their associated berths, are among the most expensive and sought-after properties in the traditional markets of France and Spain, and even in Cyprus, this type of property is only available at a premium. However, a short hop across the deep blue sea there are an increasing number of developments with marina facilities, and which are available at much more reasonable price levels.

On the northern coast of Morocco, for example, the government-backed Mediterranea Saidia resort will have extensive marina facilities attracting investors from across Europe. The 850-berth marina will also be one of the main focus points of this huge development for visitors upon completion, along with the three golf courses, diving and sailing centres and an array of five-star hotels.

Similarly, Turkey has a large selection of developing marinas in established resorts, and is rapidly gaining a reputation for world-class marina facilities. In places such as Altinkum, Marmaris, Fethiye, Antalya, Bodrum and Gocek marina developments are gaining in importance from both tourism and property perspectives. Add to this the fact that many of the bars and restaurants in such resorts tend to cluster around the marina area, and the attraction of owning a property to rent in these areas becomes clear.

Turkey is reported to have one of the most improved property markets in the world, according to a recent study by the Global Property Guide. Land prices in the coastal areas are up to 50 per cent cheaper than in other Mediterranean countries, according to the report, and the growth in GDP and a reformist government are aiding the investment proposition.

Listen now to our On Demand Radio Shows on both Morocco and Turkey.

 

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