BODRUM:
BEST FOR ALL BUDGETS?
Jane Slade visits Bodrum to fi nd the popular resort is enjoying a timely bounce, thanks to Turkey opening its market to more foreign buyers
T
he Bodrum peninsular on Turkey’s Aegean Coast is probably the best-known resort on the Turkish Riviera, securing its place as a property hotspot for British buyers seeking an affordable home in the sun that is easy to rent and not too hard to sell. With prices back to pre-recession
levels, helped by a shortage of large individual villas which are in high demand, there is still a wise choice of homes from as little as £45,000. A well-established Turkish market makes resales easier and there is a strong rentals scene (tourist numbers from Lebanon alone are up 600 per cent). Darren Edwards of estate agents Place Overseas (
www.propertyturkey
forsale.com) sells 80 per cent of his properties in Bodrum’s “happening”resort of Yalikavak, home to a new marina and fl ashy new Billionaires Club and where at the top- end villas sell for several million; yet where you can still also fi nd quality apartments for £50,000. “Our main buyers are British middle- class professionals, in their mid 40s and also people approaching retirement,” he says. “Although there is now more of a cosmopolitan mix, including Spanish, Italians, Belgians and Russians, since Turkey recently relaxed its property buying laws – we even have an Eskimo living in Yalikavak. Villas with pools bring the best rental income and the average purchase is £200,000. “They are buying for lifestyle; they
know Turkey and want to spend as much time as they can here. They also want the security of a rental income and most don’t need mortgages.” Bodrum with its newly opened
international airport terminal, three international marinas and two new shopping malls (it has no fewer than
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BODRUM
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