Combining appealing property prices with a low cost of living, Turkey is attracting the attention of investors from around the globe. And Bodrum, which mixes the traditional with the ultra-chic, is at the epicentre of the demand.
Throw in the low price of the lira in contrast to the euro, and it’s easy to see why Bodrum continues to draw buyers from all over the world. With this in mind, we explore the advantages of investing in Bodrum real estate.
Diverse Tourism
Bodrum attracts millions of tourists every year, drawn by its stunning beaches, clear turquoise waters and lively nightlife. The town is also home to a number of historical sites and museums, making it a popular destination for culture vultures.
And with the addition of Turkey’s first Super Yacht Marina, which also houses a range of designer shops, upmarket restaurants and bars, it’s attracting jet setters too. Often dubbed the Turkish Riviera, Bodrum is becoming the go-to destination for the global rich.
The diverse range of tourists in Bodrum makes it an ideal location for investors, as there is an always-on demand for rental property in the region. While the pandemic may have slowed visits during recent years, Turkey’s tourism revenues hit record highs of $32.5billion in 2019.
Thanks to its location straddling Europe and Asia, Turkey attracts tourists from around the globe, making it a year-round destination.
Low cost of living
With fuel and energy prices rising across Europe, the general cost of living is certainly a factor for many. Living in Turkey is considerably less expensive than in many other European countries and the USA. Food, gas, and services are much cheaper than elsewhere in the West. In fact, on average the cost of living in Turkey is over 60% lower than in the United States according to Numbeo.
Attractive property prices
One of the biggest benefits of investing in property in Bodrum is the ability to buy luxury property at an affordable price point.
With the Turkish Lira still trading at a low rate compared with other currencies, homes are affordable, and investors can tap into the favourable exchange rates too. For those who are looking for a long-term investment, Bodrum has an advantage over many other European cities, as prices have not yet peaked.
Additionally thanks to Turkey’s Golden Visa, there are opportunities for foreign investors to obtain a Turkish passport by purchasing a property with a value of at least $400,000.
With a wealth of property types of offer, from apartments to luxury villas, Bodrum truly offers something for everyone.
Love Bodrum? Discover more in our destination guide,
and contact us today to secure your dream home in Turkey.
