Located on the Aegean coast of Turkey, Bodrum 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 many advantages for those looking to invest in overseas property.
One of the biggest advantages of buying property in Bodrum is the relatively low cost of real estate. Although prices have increased in recent years, they are still significantly lower than many comparable cities in Europe and North America. For example, the average selling price per square meter in Bodrum is currently around US$1,500, while in major European cities such as London and Paris it can be four times higher.
In terms of rental prices, Bodrum is also a very attractive option for foreign investors. The average rental price per square meter in the city is around 10-15 US dollars per month. This is lower than many other major cities around the world, making it an attractive option for those looking to invest in property with the intention of renting it out. However, during the summer season, rental income increases significantly.
One of the best places to look for a property in Bodrum is the town center, which is home to many restaurants, cafes and shops. Prices in this area are generally higher than in other parts of town, but the location is ideal for those seeking a lively and active lifestyle. Other popular areas for property buyers include Yalıkavak, known for its high-end properties and exclusive port, and Gümbet, popular for its nightlife and beach clubs.
Another benefit of buying real estate in Bodrum is the growth of the city’s economy. The tourism industry contributes greatly to the local economy, and the city is also home to many large businesses and industries. This means that there is a strong demand for rental properties, which can provide regular income for property investors. Compared to other major cities abroad, Bodrum offers a more affordable and attractive real estate market.
For example, in Miami, the average price per square meter is around $3,500, while in Bodrum, the price per square meter is around $1,500. Similarly, in Dubai, the average price per square meter is around $2,000, while in Bodrum, the price per square meter is around $1,500.
