If there’s a place in Turkey where you’ll find more well-heeled Britons than anywhere else it’s probably the small resort of Kalkan near Fethiye. It’s not the most obviously glitzy place on that vast Turkish Riviera – that tag would go to Bodrum – and it’s not the most affordable by a long straw. No, it seems to be a combination of natural beauty, the fact that it is too far from an airport to attract the package tours (90 mins), and plentiful high-standard restaurants that don’t seen to have destroyed the feel of a small, friendly town. Kalkan devotees like the fact it is not as commercialized like Bodrum or Fethiye.
On a piece of coastline where there are few other resorts - apart from next-door Kas – between Fethiye and Antalya, you certainly don’t just pass through this town by accident, and it is arranged, like an amphitheatre, around a crescent bay set below the D-400 highway.The Old Town grew up around a little harbour and then people began to build houses up the hill and fringing the bay in both directions.
Despite the fact there are no decent beaches in Kalkan - there are some stunning ones if you hop in a car (Kaputas and Patara) - the British started buying homes there fifteen years ago, and the real property boom took off in 2002.
Because land prices have gone up in Kalkan, the price of new properties has hardly dropped, although there are definitely deals to be had amongst older properties.
If you want a new-build, a handful of developers have been raising the bar when it comes to high-end villas, producing “Kalkan style” contemporary properties in big demand when it comes to holiday rentals.
With the bulk of Kalkan’s tourists preferring to stay in a villa than a hotel, gross yields of above 10 per cent not unusual in well-located, good-quality, skillfully marketed villas (but 4-6 per cent is more typical). The town thus attracts investors as well as lifestyle buyers but where are its best areas?
Where to Buy Property in Kalkan
The area of Ortalaan, to the west of the town centre, up on the hill is currently in fashion. Properties look out to the opposite side of the bay, and to the Old Town, get plenty of sun and are only a ten-minute walk from the centre, plus the fact it is relatively low density, with 50 per cent of land protected. There you can buy a five-bed new-build villa with a pool for around £550,000 (rental potential: £3,000-3,5000 per week) or new apartments at around £130,000. A three-bed resale villa costs around £220,000-230,000.
But it is two across the bay, Kisla and Komusluk, that have historically been the “Beverley Hills” of Kalkan. Both are a 20-minute walk from the Old Town and also look out to the islands: you need £500,000 plus for a three-four bed villa with sea views. You can get more for your money if you either head to the area of Kiziltas behind the town, or in the centre itself. In town you can get a three-bed villa that is 7-8 years old for about £130,000, or a two-bed apartment with a view for £65,000, or a new three-bed one with a roof terrace for £180,000.
There’s also Kalamar Bay, just around the headland behind Ortalaan, which is a bit more affordable – plots tend to be smaller, properties older and a bit closer together. As it is close to the sea you don’t get the elevated views [of Ortalaan] but it’s more peaceful and of course closer to the water. A four-bed seafront villa there will cost around £500,000.
Nearby Kas is an option for those who might want a more international than British-favoured town – and the charming town has a sleek new marina that is attracting yachties from around the Med. It’s got a peninsula of frontline properties that offers privacy and direct sea access: plots cost start at around £250,000 (self-build is popular) or frontline resale homes from around £600,000. You need a car to drive out along the peninsula but if you want to stroll into town in the evening you can get a two-bed apartment closer to the centre for around £70,000.