The irresistible temptation of the Turkish property market is driving increasing numbers of potential investors to look at the most ideal regions of the country to purchase. For strong growth and yield potential, the preferred coastal tourism areas offer excellent choices.
Turkey has actually surpassed Spain as the most sought after destination for British holiday makers, with Bodrum and Kuasdasi at the top of their lists. As a year-round tourist destination, the coastal areas feature a conservative estimate of 8 months rental potential per year.
Bodrum is located on the southern coast where the Mediterranean and Aegean Seas meet. Emerging from a sleepy fishing village, the town developed over the past 50 years into an artistic community. Attracting the initial wave of mass tourism in the 80s, the community had already established itself as a cultural centre for Turkish arts.
The preferential Mediterranean climate of Bodrum, combined with its stunning picturesque surrounds, assisted with the growth of the tourism market. The inviting sea surrounding the town’s sheltered bay, features stunning deep dark blue to crystal and inviting turquoise waters.
Bodrum has developed into one of the most sought after Turkish resort towns, with a cosmopolitan international marina filled with modern and traditional Turkish yachts. The picturesque village is growing at a rapid pace with capital appreciation in recent years reaching 25%. The demand for rental properties has enabled yields of around 7% net per annum.
The most popular resort town of Turkey is Kusadasi, located on the western coast bordering the Aegean Sea. Acting as a main port of entry for cruise ships, the town enjoys full services of modern infrastructure and a steadily growing foreign residential population. Considered to be one of the most preferential and charming towns along the Aegean, Kusadasi has developed all of the required services for mass tourism and high demand.
Along with the multitude of private and commercial yachts dotting the harbour, several ferry services actively visit the port. Daily transport to the near-by Greek islands offer visitors to Kusadasi enjoyable day trips and island hopping holiday options. The high demand for property in the town has started to drive up property prices due to the protection of surrounding land, creating a limited supply for future construction.
The Mediterranean climate with year round sunshine in both Bodrum and Kusadasi create continuous attraction. The demand for properties is steadily rising in line with the capital appreciation gains, amidst each town’s peaceful atmosphere. Future growth is assured with the preferential tourism and re-location benefits of these first class resorts.