Real estate boom on the coast in Turkey

In addition to Bodrum, there is a boom in Turkish coastal homes.

For many years, Bodrum has attracted the attention of international tourism and investment. Recently, three other coastal areas have started to catch up with it.

Thanks to its extensive picturesque coastline, numerous historical landmarks, and excellent cuisine, Turkey has always been a popular destination for international investments in coastal homes. Besides the beaches, the country attracts foreign buyers with its affordability, high standard of living, and variety of real estate options, said Michael Valdes, Chief Development Officer and President of eXp Realty, a real estate firm that has no presence in Turkey. Until recently, investors and buyers have primarily focused on the city of Bodrum and the towns on the surrounding peninsula in the southwestern part of the country, which he described as "the best places in Turkey to acquire coastal real estate."

However, despite the fact that the real estate market in Bodrum remains stable, buyers are increasingly looking for homes in lesser-known coastal areas of Turkey and neighboring regions, report international real estate experts. Kusadasi, Kalkan, and Northern Cyprus are becoming particularly popular.

Kusadasi

On the western coast of Turkey, along the Aegean Sea, Kusadasi has been a popular cruise destination for decades. Visiting this resort town allows guests to explore nearby attractions, including the ancient Greek ruins of Ephesus and the House of the Virgin Mary, a Catholic shrine.

However, according to Gokhan Duyar, the owner of Property Kusadasi, a real estate company, Kusadasi also offers a developing real estate market. It features apartments and villas in the city center, as well as villas in coastal areas.

Real estate prices usually start at $135,000. However, for around $300,000, a buyer can expect a three-bedroom apartment with a sea view in an upscale building with amenities such as a pool, property management, a gym, and a parking space. For over $1 million, buyers can expect a spacious seaside villa with a pool, tennis court, and garden.

Housing prices in Kusadasi have been rising rapidly, but they are now stabilizing, says Mr. Duyar. "We saw a wave of buyers coming to Turkey during the pandemic," he says. Foreign buyers are attracted by Kusadasi's mild climate, which allows for ocean swimming for about eight months of the year, he adds.

Fugen Firik, a broker and owner of Firik's Real Estate in Kusadasi, says that besides the weather, the picturesque beaches are a major attraction. "The most famous of them is Long Beach, which stretches for over 11 miles," she says.

As for restaurants, according to Ms. Firik, Kusadasi offers a wide variety of establishments, including Irish pubs, Belgian waffle houses, Chinese and Italian restaurants. Many restaurants also serve local specialties from the Aegean Sea, such as dentex, squid, and octopus. "We have a large number of foreign residents here, and the diversity of restaurants and nightlife venues reflects the presence of this community," says Ms. Firik.

According to her, foreign buyers mainly come from the UK, Ireland, Belgium, the Netherlands, and the entire Middle East.

Turbot

On the southern coast of Turkey, where the Mediterranean meets the Aegean, the resort town of Kalkan is situated like an amphitheater, says Mr. Walker from Spot Blue International Property.

Real estate in this area, like in other coastal regions of Turkey, consists of apartments, townhouses, and villas. However, what sets Kalkan apart is that almost all properties offer a sea view due to their location on the hills, says Mr. Walker.

Real estate prices start at around $175,000 for a modest one-bedroom apartment with an ocean view in an older building with amenities like a gym and a pool. For about $400,000, a buyer can expect a three-bedroom property with a sea view and a pool.

However, those looking for a typical beach destination should understand that Kalkan is not it. "There are no sandy beaches here. Expect more rocky cliffs, similar to the Amalfi Coast in Italy," says Mr. Walker. However, Patara Beach, which is about a 20-minute drive from the town, offers a more classic beach experience.

Nevertheless, beach clubs (not always with a beach in the literal sense) are the foundation. They cater to local and foreign clients who come for the whole day to sunbathe and enjoy long seafood lunches with wine. Music and dancing are sometimes also part of the entertainment. Among such clubs are Kalamar Beach Club, which offers snorkeling trips as well as kayaks and beach loungers, and Palm Beach Club, particularly suitable for families.

The city of Kalkan is most lively from April to October; at other times, it is usually quieter compared to Kusadasi and Northern Cyprus.

Northern Cyprus

Located south of the Mediterranean coast of Turkey, the Turkish Republic of Northern Cyprus is a self-proclaimed state recognized only by Turkey. Situated in the northeastern part of Cyprus (which the rest of the international community considers to be part of Cyprus), it is a popular holiday destination for Europeans, despite its complex history.

Tourists come here for the picturesque beaches, charming and historic northern Cypriot areas such as Kyrenia, Iskele, and Famagusta, as well as affordable hotels. Recently, coastal homes have become an additional attractive factor, says Mr. Walker. "With the increase in tourism, there is also a growing interest in buying a second home here," he says.

Real estate in Northern Cyprus includes apartments in high-rise buildings and townhouses in villages. There are also luxury villas located right by the water or not far from it along the coast.

According to Mr. Walker, real estate prices start at around $85,000 for studios with sea views in elite buildings that offer amenities such as swimming pools, gyms, Turkish baths, and tennis and basketball courts. "The amenities you get even for affordable housing are a bit overwhelming," he says.

At the upper end, real estate prices can exceed $1 million, allowing buyers to acquire a modern five-bedroom villa on the waterfront with a large infinity pool, spacious garden, and luxurious finishes.

From a lifestyle perspective, Northern Cyprus offers several advantages, including a mild climate that allows property owners to enjoy their real estate year-round.