UK developer takes Turkish property market by storm

Creating ripples in the Aegean Sea is the latest venture of the Braemore Group who sold out their latest development in Nottingham within a record 48 hours. Having exported their magic and reputation overseas to three vibrant emerging markets - the first being Turkey - their projects are on course to put all the others in the shade.

WHO’S BUYING WHAT & WHY?

It’s never been easier to invest in Turkey. A long awaited mortgage system is being ushered through parliament with flexible terms meanwhile currency specialists say that Turkey is the ‘top emerging market in the global investment index’.

Property buying restrictions have also been relaxed and the number of Britons owning property in Turkey has jumped by more than 200% over the past eighteen months.

According to Merrill Lynch GPI, Turkey will remain one of the favourites for foreigners over the next five years, attracting $15 billion of investment.

Aegean Hills is the first braemoregemini creation - a joint venture between Braemore Group and Gemini Properties, a successful Turkish developer with 30 years of solid credentials.

The 34 villas are set in four acres near Yalikavak on the Bodrum peninsula - just a 35 minute hop from the airport.

Villa prices start at £150,000 for a fully specified three bedroom, two bathroom villa including private pool, garden, parking and fully fitted designer kitchen with integrated appliances. A larger property, with an extra 50m² basement level providing room for two more bedrooms, costs just £182,500.

Not surprisingly, over half of the villas in this landmark development have already sold.

Kevin Hyland purchased two properties at Aegean Hills as a ten year investment. ‘What swung it for me was the Braemore connection; even though I own properties in Spain, I felt more comfortable dealing with a reputable UK developer,’ he says. ‘Compared to Spain, it’s about a third of the cost, but they are still high quality builds. I get regular updates and photos via the website which takes all the worry out of it’.

Another buyer, David Nicholson is keen to kit out his new bolthole in chic Turkish style so he hit Istanbul’s famous Grand Bazaar and fell in love with a large chandelier of handmade glass. braemoregemini’s Alpcan Yazici helped carry out ‘remote haggling’ via mobile phone which brought the price down from a sum of 1.350 Euros down to 1.200 - all part of the braemoregemini service.

Emma Tillotson was one of the first to purchase a three bedroom Aegean Hills villa as a second home for family holidays. ‘We know what Braemore have done here in Nottingham, so we’ve got the added peace of mind that we’re buying with a company we can trust. Plus the good thing about Turkey is the longer summers; we can go out in October and even Easter.’

The land at Aegean Hills is covered with ancient olive trees, fruit trees and wild herbs with its own water source; an artesian well.

At its heart is a split level, infinity style communal pool linked by a small waterfall. A Wi-Fi hotspot and shaded seating provide resort style poolside luxury.

The villas are designed to standards rarely seen in this region. Floor to ceiling glazing (2.7 m high) makes the most of the stunning views of the Aegean sunsets and surrounding mountain scenery. Floors are covered with natural travertine stone and walls are skimmed or clad in either mosaic tile or mirror to reflect the Mediterranean light.

Each villa has a private pool, gardens and extensive terracing. Balcony doors open onto more outdoor space covered by braemoregemini’s signature shuttered pergolas. Car parking is located at the border of the project to create a feeling of tranquility and safety.

Owners will benefit from special touches, such as Property Management and Concierge services and a free shuttle service to the Yalikavak town centre. VIP membership to Xuma Beach Club and number of preferential local benefits are also provided. Aegean View is braemoregemini’s second project in Yalikavak (due for completion spring 2009) comprising 38 two bedroom split level apartments with stunning hilltop views over the turquoise Aegean Sea. Apartments are available from £100,000.

GETTING THERE

The timing couldn’t be better. This part of Turkey is even more popular with tour operators, like Thomas Cook, who are extending their season one month earlier this year. The international terminal at Bodrum airport is being extended to handle more flights. Buses, known locally as dolmus, offer a frequent affordable service around the Peninsula.

LOCAL NEWS

Significant investment injected into the local infrastructure is already evident. New roads now link the main towns with coastal villages. Town centres like Yalikavak are being graced with new cobbled streets, instead of poured cement. Shopping centres are springing up in all parts of the Peninsula. Locally made furniture and handicrafts are available at a fraction of the cost of the rest of Europe.

The marinas meanwhile are nothing short of world class. Bodrum’s Milta marina is known as the ‘St Tropez of the Aegean’. It’s a mix of some of the biggest gin palaces, alongside handmade wooden gulets, and one of the prettiest promenades.

YALIKAVAK marina is a smaller version, and one of the few in the world boasting a Blue Flag award. Water sports are a big attraction. The place throbs in summer, when the lively outdoor restaurants open and the designer shops open their doors and roof terrace cafes.

TURGUTREIS marina meanwhile, is where sailing meets shopping. An Armani outlet with café, Gucci, Stefanel and Gant are just a few, with more chic cafes and landscaped gardens.

For further information, visit braemore-properties.co.uk.