WHY INVEST IN BODRUM

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Anyone looking to invest in Bodrum can enjoy a safe and luxurious lifestyle, priced approximately 15% less than its competing Mediterranean luxury markets.

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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.

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"Bodrum has the potential to topple Mykonos and St. Tropez for its indulgence, comfort,
tranquillity, pampering, and extravagance."

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"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.

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“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."

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Until Today......

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With a competitively positioned (and few remaining) CIB program at $600k in 2024, inflation-eroding purchasing power, and the dollar at almost 29 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.  

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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.

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Tourism Statistics, Quarter III: July-September, 2023- Tourism income increased by 13.1%
In the third quarter which is July, August and September of 2023 tourism income increased by 13.1% and reached to 20 billion 225 million 317 thousand dollars. 16.5% of tourism income was obtained from Turkish citizens resident abroad.

Visitors organize their travel individually or with a package tour. While individual expenditures constituted 14 billion 644 million 632 thousand dollars of the total tourism income, 5 billion 580 million 686 thousand dollars of tourism income was obtained by package tour expenditures.

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Tourism expenditure increased by 74.8%  in 2023:
Tourism expenditure which is the expenditure of the Turkish citizens resident in Türkiye and visited abroad, increased by 74.8% compared to the same quarter of the previous year and reached 1 billion 933 million 781 thousand dollars. While 1 billion 491 million 933 thousand dollars of total expenditures was individual expenditures, 441 million 848 thousand dollars of tourism expenditures were package tour expenditures.

 

The number of Turkish citizens visiting abroad increased by 43.7%

In this quarter the number of Turkish citizens visiting abroad increased by 43.7% compared to the same quarter of the previous year and reached 2 million 978 thousand 418 persons. The average expenditure was 649 dollars per capita.  

 

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.

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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. With Bodrum's newest openings of Top Luxury Branded Hotels such as the Maxx Royal (owned by Soho Group ) and Scorpios Beach Club from Mykonos, not to mention 2 recently appointed Michelin Stars for top dining experiences at Macakziz and Bodrum Edition,  we anticipate huge growth in 2024. 

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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.  

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Bodrum takes up approx. 20% of Turkey's Total Luxury Real estate Market with the highest rental yields compared to any other city in Turkey. Turkeys #1 Luxury market saw a substantial increase of 250% year-on-year, with house prices averaging TRY 35,278 (US$1200) per sq. m. The return on investment is high (the income from renting an average residential property by the sea is 5-7% per year, prices in Bodrum increase by 8-10% every year).

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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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​In the first half of 2023, Bodrum witnessed a surge in tourism, with over 350,000 international visitors gracing its shores. Omer Faruk Dengiz, President of the Bodrum Hoteliers Association, noted a 4% increase in foreign arrivals by air compared to the prior year, translating to 45 weekly international flights. Additionally, maritime arrivals doubled year-on-year, reaching 30,000 tourists, a trend Dengiz expects to escalate by summer's end. European tourists, predominantly from the UK, Poland, and Russia, comprised 30% of Bodrum's visitors, with Bulgarians ranking fourth in numbers, enhancing the resort's cosmopolitan appeal.

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