Stevie and Claire Lavery – Turkey, A Case Study

Oct. 3, 2007 - PRLog -- Stevie Lavery, 34, together with wife Claire, 32, from Co. Armagh in Northern Ireland has recently, like many others, opted to secure his family’s future in bricks and mortar rather than pensions, savings accounts or shares.  A decision looking all the more wise in the light of recent British banking dramas.  And while financial experts are now advising people to spread their savings across several banks or building societies, Stevie’s also spreading his load by investing in property across several markets - thus far Dubai, Bulgaria and two in Turkey.  

Stevie picks up the story, “I’d already purchased in Bulgaria, but had never even been to Dubai or Turkey so with professional advice from Dream Homes WorldWide I made my selections based on their potential for capital growth.  Dubai is clearly a success story whichever way you look at it with Sheikh Mohammed investing heavily in attracting millions of tourists and Turkey is also on a steady path upwards working towards EU accession in 10 to 15 years time.  Although prices are sure to rise upon EU membership there are certainly a couple of key landmarks before then for major capital appreciation, firstly when low-cost flights become commonplace (EasyJet has taken the first step) and secondly when non-resident mortgage lending becomes available from Turkish banks.”

Stevie’s initial game plan was for pure investment.  Retain the properties for the medium term and then sell on, unless capital growth and rental returns dictated that he should hang on for longer.  However his heart strings have been tugged by his Bodrum acquisition and he could well be swapping pure investment for pure pleasure.  Stevie continues, “I had a feeling that Bodrum could tick a couple of boxes, a property to earn from as well as enjoy during low-mid season, but Claire and I still needed to take a trip to the Aegean resort before making a firm decision.  Olive Tree Apartments in Gulluk Bay near Bodrum were on our shortlist and once on site to be honest the product sold itself, the views were quite phenomenal and we were smitten.  For clarity we viewed several other projects but naturally drifted back to Olive Tree Apartments and firmed up a reservation.  Our new two bedroom apartment is just 15 minutes from the International Airport, within easy reach of Bodrum with its nightlife and improved marina and the cost of living in the local area is refreshingly affordable.”

Bodrum blew the Lavery’s away and the investment / rent out theory is definitely going to rub shoulders with some beachside holidays for the couple and their family and friends.  Meanwhile the other Lavery acquisitions in International City Dubai and Astrum Towers Istanbul will hopefully bring in the pennies to plug the gap in rentals at Olive Tree Apartments when Stevie and Claire are in town.  

Does Stevie have any tips for would-be overseas house hunters?  Stevie answers, “Our experience so far has been pretty hassle-free, only the odd legal obstacle to manoevure around which is to be expected when dealing with foreign systems and languages.  Our advice is to avoid pushy agents, Dream Homes WorldWide allowed us to make our own decisions and do our own homework, so we can only blame ourselves now!  Do go on a research trip, see as many properties as you can and bring a partner or pal as two heads are better than one.  Get to know the area and don’t be afraid to ask questions even if you think they may sound silly.  Know your budget, stick to it, buy with your head not your heart and plan for periods of non-renting or maintenance.  Get all the support you can from your estate agent, you are the paying customer after all, and finally – enjoy the whole experience, we certainly did.”  

Olive Tree Apartments
Olive Tree Apartments are set in picturesque Gulluk Bay, an intimate town centred around fishing and therefore boasting some heavenly fish restaurants, but also within easy reach of the bustle of Bodrum half an hour away and the International Airport at only 15 minutes.  

All with two bedrooms and two bathrooms, Olive Tree Apartments benefit from open-plan fitted kitchens, spacious living areas, two terraces or balconies and air conditioning.  On-site residents can cool off in a communal swimming pool surrounded by sun decks and also benefit from secure parking.  Thanks to its elevated position, the resort has romantic views across the hidden coves and hillsides cloaked in the Mediterranean’s signature citrus, almond, olive and fig trees.

Prices start from £71,000 for a two bedroom apartment and completion is expected for June 2008.  A £2,500 reservation is required followed by 30% on signing of contract and 70% upon completion.

Dream Homes Worldwide can be contacted on UK freephone 08000 193 847 or Irish freephone 1800 805 006 or in Spain telephone 00 34 952 908 803 email enquiry@dreamhomesww.com or view www.dreamhomesww.com
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