Bodrum, located on the Aegean coast of Turkey, has become a popular destination for foreign property buyers in recent years. Known for its beautiful beaches, crystal-clear waters, and lively nightlife, Bodrum offers a wide range of advantages for those looking to invest in real estate abroad.
One of the biggest advantages of buying property in Bodrum is the relatively low cost of real estate. While prices have been increasing in recent years, they are still significantly lower than in many comparable cities in Europe and North America. For example, the average sales price per square meter (sqm) in Bodrum is currently around $1,500 USD, while in major European cities such as London and Paris, it can be 4 times higher.
In terms of rental prices, Bodrum is also a very attractive option for foreign investors. The average rent price per sqm in the city is around $10 – $15 USD per month. This is lower than in many other major cities around the world, making it an attractive option for those looking to invest in a property with the intention of renting it out. However, in the summer season, the rent income increases a lot.
One of the best areas to look for property in Bodrum is the city center, which is home to many restaurants, cafes, and shops. Prices in this area are generally higher than in other parts of the city, but the location is ideal for those looking for a lively and active lifestyle. Other popular areas for property buyers include Yalıkavak, which is known for its high-end properties and exclusive marina, and Gümbet, which is popular for its nightlife and beach clubs.
Another advantage of buying property in Bodrum is the growing economy of the city. The tourism industry is a major contributor to the local economy and the city is also home to many large companies and industries. This means that there is a strong demand for rental properties, which can provide a steady income for property investors.
In comparison to other major cities abroad, Bodrum offers a more affordable and attractive real estate market. For example, in Miami, the average price per sqm is around $3,500, while in Bodrum the price per sqm is around $1,500. Also, in Dubai, the average price per sqm is around $2,000, while in Bodrum the price per sqm is around $1,500.
Bodrum is known to be a playground of the rich and famous, many celebrities and politicians from around the world own properties and spend their summer holiday there. Bodrum is also famous for its vibrant nightlife, exclusive marinas, and luxurious properties.
Overall, Bodrum offers a great opportunity for foreign property buyers. With relatively low prices, a growing economy, and a great location, it is an attractive option for those looking to invest in real estate abroad. With all the attractive options, stunning beaches and beautiful weather, Bodrum is also a great place to live and enjoy a wonderful Mediterranean lifestyle.
It’s important to note that when buying a property abroad, it’s always recommended to have a professional legal and financial advice and take into account all the legal regulations, taxes and other possible costs.
