Newsletter Produced by Dizayn Homes Didim Real Estate

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Monday, 5 November 2007

New Tesco Kipa Complex rumoured for Akbuk Road

UK supermarket megabrand Tesco took over the Turkish market chain Kipa in 2003, since when it has been working hard to move its market position from 6th to 1st among major grocery retailers in Turkey (Migros and Carrefour currently occupy the top two spots). Tesco Kipa owns markets and hypermarkets in Bodrum, Izmir and Antalya, as well as other 11 locations, and is hoping to expand its reach by announcing 8 new locations by the end of 2007.

There has been much speculation about the probability that Didim might be one of the planned locations for a Tesco Kipa hypermarket complex. Didim was included on the map of significantly populated towns in Turkey in a special presentation for Tesco Kipa investors earlier this year - even though that was based on the 2000 census results. The massive increase in population since foreigners have been allowed to directly own property here will have expanded numbers way beyond the 37,000 captured 7 years ago. Add to that Tourism Today's estimate that Didim's population swells tenfold in the summer months and the appeal to Tesco Kipa becomes even more evident.

According to The Didymian newspaper, Mayor of Didim Mumin Kamaci is aware of Tesco's interest in Didim and welcomes the plans, but has not been formally approached by the chain in regards to the project. It is believed that Tesco has already carried out a feasibility study on opening a mall in Didim and is in final negotations with landowners before making any official announcements.

The rumoured location of the mall is on the Akbuk Road, which runs from Yenihisar's Cumhuriyet Caddesi, out towards Akbuk and on towards Bodrum and the airport. It is hoped that the shopping complex will include a Tesco Kipa hypermarket, stores and a cinema, similar to the one opened last month in Kusadasi.

Sources: Tourism Today , The Didymian

Thursday, 25 October 2007

Massive increase in visitors to Turkey, and steady increase in returning Turks

According to a report released by the Turkish Institute of Statistics, Turkey is getting hotter! The number of visitors and returning citizens has seen a sharp increase over the same time last year, signalling a strong upturn in the fortunes of the Turkish tourist industry and indicating a resurgence in Turkey’s appeal to its expatriate citizens.

The numbers are taken from border control figures and measure the number of people entering and leaving Turkey via plane, boat, car and rail. These have been compared with data taken from the same period one year earlier and show an emphatic change both in visitor numbers and in nationalities.

The figures are those from September 2007, outside the main domestic tourist season but a popular month for visitors who are free from the restrictions of school term times, and are compared against September 2006.

The overall number of foreign visitors to Turkey went up by an impressive 23.5% to 2,799,276 from 2,267,146, with plane the most popular mode of entry - chosen by 29.6% more people this year than last. Arrivals by sea also increased impressively, by 14.6% - both figures suggesting wealthier overseas visitors compared with the previous year.

Wealth is also suggested by the top ten nations favouring Turkey as a destination (who make up an overwhelming 63.9% of Turkey’s foreign visitors): Germany, Russia, the UK, Bulgaria, the Netherlands, Iran, USA, Ukraine, Israel and France; with popularity growing most among Americans and members of the former Soviet states. Obviously, even the fragile condition of the US economy and the poor performance of the dollar against the Turkish lira can’t put Americans off Turkey!

An upturn is also indicated in the number of Turkish citizens returning to Turkey, whether for a visit or more permanently: up by 11.3% from 587,845 to 654,362, though this is still outweighed by the number of departures in the same month, down 1.6% from 963,509 to 948,195.

The news is particularly pleasing for those who’ve been keen to see Turkey’s vitally important tourist industry thriving: investors both private and commercial; travel agencies; property developers; banks; and all the millions of companies offering services and products aimed at foreign visitors. It also underlines the wisdom of investment in quality attractions such as Didim D-Marin megayacht marina and the two golf courses planned for Altinkum at Third Beach and Mercimek.


© Dizayn Homes 2007

Saturday, 7 April 2007

More Foreigners Buying in Turkey

Some informative statistics from my favourite source again. Completed real estate sales to foreigners went up by an amazing 59% in 2006 on the year before, to a total $2.9 billion! Which is a lot of apartments, whatever way you look at it (I'm half english & half american so 1 billion to me is either 9 zeros or 12... how confusing....).

88% of foreign-owned property is located in 10 cities, the top 5 being Antalya with 14,610 properties; Istanbul with a surprisingly low 10,695; Mugla (the location of Bodrum) with 8,251; Aydin (home of me, Didim, Akbuk and Altinkum) with 5,839, and Izmir with 4,572 foreign-owned properties.
Source: Today's Zaman

To see what's inducing people to invest so much money in Aydin, take a look at our fantastic properties for sale in Akbuk - you will see for yourself why investment here is such a popular choice!

Turkish Property Tax Evasion

There is a warning causing anxiety among Akbuk property buyers that I have been hearing frequently - that the Turkish government intends to crack down on property tax evasion and are out to get you! This is becoming an increasing issue as property prices rise, particularly in areas with a lot of foreign buyers. But the burden of suspicion here is NOT falling on foreign property buyers - despite what you may have read in other places including the Turkish Embassy in London's own website! The government's concern is that construction companies are effectively laundering their incomes by requesting payment in a combination of cash and bank transfers, persuading property buyers to under-declare the purchase value of the property on their title deeds, and then only declaring the minimum amount to the taxman.

Now if you've bought a property in Turkey before this may all sound rather familiar. Did you put down a deposit for your property and pay the rest in installments by bank transfer? Did you declare the council's assessed value for the property on your title deeds because your solicitor recommended it for tax reasons???

Well don't be scared. So did most people. And it's all perfectly legal. Even the Turkish Embassy admits it in a fairly dramatic u-turn on their informative (!) website: "Each of buyer and seller is to pay real estate sale-and-acquisition levy of 1.5%, based on the declared value of the asset (This value cannot be less than the threshold determined by authorities). It is collected in prior to the transfer of ownership at TAPU office." Which means that you CAN declare the council's assessed value of the property on your title deeds and pay tax accordingly. And as for paying in a cash/installments combination, nothing could be more sensible. Just make sure that you agree the payments in your sales contract arranged by your solicitor to make sure everything is above board. The real target of this worry-provoking campaign isn't you, it's the builder whose property you are buying. And how he declares his tax is his responsibility, not yours.

So what's the moral of the story? Leave a paper trail. NEVER buy a property without involving a solicitor and having a detailed intent-of-sale contract drawn up. Oh, and unless you are VERY confident about the buying process, don't bypass the estate agent just to save your 3%. We don't just exist to point you at properties you can find by yourself, we also understand the ins and outs of the property buying process in Turkey - which is more than I can say for the Turkish Embassy in London! (Sorry guys, but you're not good at this. Really. Pull yourselves together.)

To get the real lowdown on buying property in Akbuk safely and legally, contact Dizayn Homes at - we are happy to anwer any questions you have, no matter what your intention re buying property is. Or take a look at the Turkey Central forum, where more information is constantly being added about the local property-buying process in the Akbuk (Didim) area.

Single-Day Akbuk Property Sales

According to Today's Zaman (my favourite source for news about Turkey), the security check process that until now has delayed property purchases by foreigners for as much as 12 months is soon to be speeded up. The Turkish Land Registry now has greater access to the information, kept by the Turkish Defense Ministry, about what property is militarily sensitive and thus can't be bought by foreigners.

Don't expect too much from this news just yet though - all it means in practical terms is that the Land Registry can carry out the checks themselves instead of passing the documentation to the Defense Ministry. But if this can be taken one step further and the information made available to the Land Registry at a local level, potentially foreign property buyers will be able to purchase property in one day, just like Turkish buyers!
Source: Today's Zaman

Saturday, 31 March 2007

New Cinema for Akbuk in Didim!

DIDIM'S NEW CINEMA: A canny local investor has spotted a huge gap in Didim's facilities and decided to do something about it.

Mehmut Gokdemir, the neighbourhood leader of one of Didim's most populous districts, has already started work on the 3-screen, 400-seat capacity movie theatre. He is in negotiations with film companies to provide the latest quality movies, both for international and Turkish audiences.

The location of the new theatre is well thought-out, accessible to visitors from the Altinkum AND Akbuk areas: on the main Didim-Akbuk road running from Yenihisar centre and the Belediye (council offices) to Akbuk and then on to Bodrum. The cinema will be close to the Opet petrol station and the structure is already visible.

Didim's cinema is the latest piece of good news for Akbuk following the announcement of the location of two 18-hole golf courses and accompanying facilities in the area.

To see investment real estate close to the new cinema site view our Properties in Didim /Yenihisar and our Properties in Akbuk from Dizayn Homes.

Source: Voices Newspaper

Wednesday, 28 February 2007

18 hole golf courses designated for Akbuk / Didim!

A big increase in investment in Akbuk and Didim is expected with confirmation that land has been allocated for two 18-hole golf courses and supporting facilities in the area.

The locations of the courses have been chosen and first-level analysis done of the areas. One site is north of the Didim-Akbuk road, quite far inland as you approach the 5-star Akbuk Caprice Hotel. The other is on the seafront just across a small bay from Yesilkent, at Mercimek, an area visitors to Altinkum may have visited on a boat trip.

While investors have yet to be found for the courses, there are rumours that a big Spanish golf resort company is interested in at least one of the locations, and this is hardly surprising with such a large and rapidly-growing expat community, not to mention the coming marina at Didim with its influx of high-end tourism.

To see investment properties close to the golf course locations, check out Properties in Akbuk from Dizayn Homes.

Sources: Voices Newspaper (original location image) & Turkey Ministry of Culture & Tourism website (other details)