Hot Properties in Bodrum
Property in Bodrum
The Bodrum peninsular on Turkey’s Aegean Coast is one of the biggest hotspots for British buyers on the Turkish Riviera, although it’s long been a Turkish favourite. In fact President Erdogen was holidaying there with his family when the failed coup kicked off.
With its upgraded international airport terminal, three international marinas and two shopping malls, it is easy for year-round living too. Many restaurants stay open in winter months and despite a lack of sandy beaches, its location is perfect to discover the Greek Islands; the World Heritage site of Ephesus and the local fishing villages, bays and marinas.
It’s also very international since Turkey relaxed its property buying laws. Many of the new (wealthy) buyers coming from Jordan, Ukraine, Russia and Oman are keeping prices at the top end very high - back to pre-recession levels.
Some five-star brands have arrived there in the past few years - Kempinski, Mandarin Oriental - and the Zuma restaurant - catering to the high-end market of the peninsula, which also offers some stunning contemporary viillas by top architects. Model Kate Moss is a regular visitor for detox holidays at a retreat nearby.
But there’s a wide choice of homes for different budgets, a well-established Turkish market making re-sales easier and a strong rentals market.
Where to Buy Property in Bodrum
Established for the past 60 years, the former fishing village of Yalikavak has undergone a marina makeover and with its Cipriani restaurant and trendy Nikki Beach drawing superyachts.
There are £1-4m properties for sale on the waterfront yet there are also quieter spots where you can still find a two-bed apartment for £75,000 and a three-bed villa for £150,000. There’s a really good choice of sea view apartments, two-bed townhouses or even small villas if you have a budget of around £130,000 to £150,000.
The Bodrum of a branch of the prestigious international school, TED College make it well placed for relocators too. British middle-class professionals, in their mid 40s, are frequent buyers, as well as people approaching retirement.
Villas with pools bring the best rental income and the average purchase is £200,000.
The small bay of Turkbuku has an upmarket feel is popular with Turkish celebrities and buyers from Istanbul; is a summer haven of beach clubs and restaurants - hence its nickname the St Tropez of Turkey - with waterfront villas with jetties in excess of £2 million (it has no marina, so yachties moor 200 metres off shore).
Property options are restricted when compared with Yalikavak and it is likely to be eclipsed by the bigger resort as a magnet for high-end buyers.
The arrival of the Mandarin Oriental brand at Paradise Bay in Turkbuku (luxury properties £1m plus) is evidence of this. But you can still buy apartments with sea views start at around £150,000 and resale three-four bed villas cost from £300,000-£600,000.
Torba is a former fishing village that is popular with the Turkish market because it is close to local amenities and not too steep, and prices have held up well. A three-bed villa costs a little less than £300,000.
For affordability look to the well-developed area of Geris where you can get a three–bed 90sqm semi-detached villa for only £75,000 – although it will be in need of modernising and lack a pool. But you can also buy high-spec two-bed apartments for £200,000 or luxury branded to three-bed apartments from around £250,000.
Also have a look at Gumusluk - a low-key authentic Turkish fishing village with small B&Bs is rather a hippy retreat that is lively in winter with restaurants staying open. It has markets, shops and restaurant by the beach - close to archaeological ruins on Rabbit Island – and lots of shady eucalyptus, fir trees and relaxed charm. It’s best for young families and retired couples, plus rentals are good too. You can get a three-bed resale villa for £100,000 if you are lucky, although a new one will be north of £200,000.
With great shopping, restaurants, marina and even a Starbucks this is perhaps the best option for year-round living. The downside is that not many properties have sea views – the marina takes up the seafront.
You can buy a one-bed apartment in town centre for £150,000 but nearby ancient and historic Konacik as an alternative: the inland town is on the main arterial road connectingBodrum town with the rest of the peninsula.
There three-bed hillside bungalows cost from £300,000 or new two-bed apartments around £100,000.