Anyone looking to invest in Bodrum can enjoy a safe and luxurious lifestyle, priced approximately 30% less than its competing Mediterranean luxury markets.
Business Insider coined its best description when Bodrum was still under the radar in 2019 with the likes of Jeff Bezos and Bill Gates still parked—to date, as regulars in the #1 Awarded Super Yacht Marina in the World—the Yalakavak Marina.
"Bodrum has the potential to topple Mykonos and St. Tropez for its indulgence, comfort, tranquillity, pampering, and extravagance."
"Time Magazine 2021 named Bodrum one of the Greatest Places in the World, followed by Travel + Leisure Magazine ranking Bodrum as one of the Best 25 Cities in the World."
Fast-forward to today, post-pandemic in 2022, when Forbes named Bodrum The Most Exclusive Destination Where Style Insiders Go.
“The port city has been dubbed the "St. Tropez of Turkey" for its luxury hotels, bohemian beach clubs, 5-star food and hotel scene, and the abundance of super-yachts drifting in its turquoise waters. While Europeans have been vacationing there for years, it has been long overlooked by American travellers."
Until Today......
With a competitively positioned (and few remaining) CIB program at only $400k, inflation-eroding purchasing power, and the dollar at almost 19 lira, North Americans visiting Turkey in the first half of 2022 are up 76.8% over the same period of 2019 before the pandemic struck.
Turkish Culture and Tourism Minister Mehmet Nuri Ersoy reported statistics for 2022, reaching 51.4 million tourists and 46.3 billion dollars, which exceeded predictions, and the projected numbers for 2023 are even more promising.
The cost of Turkish properties has increased by 902% over the past 12 years, as confirmed by Eurostat and the Central Bank of Turkey, with the country rating #5 in the world for long-term investments over Cyprus or Spain, according to Global Property Guide.
As a result, Turkey’s main luxury market, Bodrum, has reported equally promising growth and is recognized today as one of the most desirable luxury vacation destinations in the world, with valued investment figures topping $5 billion in tourism, real estate, health care, infrastructure, a sustainable blue water economy, and organic agriculture, with plans to increase by 40–50% in the next 5–10 years.
Average housing prices in Bodrum can certainly vary depending on the location, property type, and other factors. However, according to the latest data from the Turkish Statistical Institute (Turk Stat), the average housing price index in Bodrum increased by 20.3% in 2020 compared to the previous year, and by 30.8% in 2021 compared to 2020. In 2022, we are seeing a 31% increase with a spike in rental yields sitting at 5-8%. Our curated villas garner an average of $80k to $400k from June through September, with undeniably a shortage of rental inventory leading into this summer of 2023. Bodrum sales in January 2022 have increased 16% compared to 2021, with an additional spike after the earthquakes as more locals spill in.
In 2022 Bodrum welcomed over 1.5 million foreigners. In addition to the 400k active locals. Airport authorities have set expectations for this number of foreigners to increase up to 2 Million in 2023 exceeding pre-pandemic figures as it leads to becoming the leading destination in all of the Mediterranean.
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