Airport boost for property investors in Alanya, Turkey

After ten years of speculation, the southern Turkish city of Alanya will be building it’s own international airport. The new airport will be built 33km from the tow centre and it is hoped that the airport will be open for flights in mid-2008.

The news of the new airport is good news for buying foreign propertys in the area as it is bound to push property prices up. Property in the area has already provided many property investors with good returns over the past few years with capital appreciation in the region of 10-15% per year. With the announcement of the new airport, it is expected that these figures will increase and boost an already buoyant market. It is hoped that tourism in the area will also be boosted – again a boon for property investors as rental demand is likely to increase when the airport opens.

The resort is already popular with locals and tourists alike. The city of Alanya is over 3,000 years old and is steeped in history and culture. For those who prefer the beach, the mild climate, long stretches of sandy beaches and warm waters make it the ideal holiday destination. The current nearest airport is a Antalya international airport, a 90 minute drive away. When the new airport is built, it will cut this journey down to around half an hour – a definite plus for holiday-makers. The city already doubles it’s population during the summer tourist season and this figure is likely to increase when the new airport opens.

All in all, the area looks like a safe bet for anyone wanting to invest in Turkish property – the area has shown strong property growth in the past, and the new airport looks set to ensure that the trend will continue. The tourist industry is already strong indicating a strong rental market, and the demand for rentals will only increase with the new airport. Expect to pay around $70,000 (£35,000) for a two bedroom, one bathroom apartment with communal swimming pool within walking distance of the sea and beaches.

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