Holiday homes from £75,000: now is the time to buy in Bodrum

With holiday homes from £75,000, now is the time to buy in Bodrum.
The Bodrum peninsula is 27 miles long, a green headland with mountains, olive groves and limestone rocks stretching out from south-west Turkey into the Aegean Sea. Big enough to include both sophisticated five-star hotels and bright, brash resorts, yet still mostly low-level and low-key, this is holiday home heaven for anyone who wants a lifestyle based around boats, bays and waterside restaurants. 

“Bodrum is a boating paradise,” says Cameron Deggin of Property Turkey. “You could easily spend two weeks just on the peninsula exploring small coves, dropping into ports round the bay of Gokova then heading over to the Greek island of Kos.”

The peninsula has 11 towns, each offering different holiday experiences, from candlelit dinners in elegant Türkbükü to the noise and buzz of upbeat Bodrum Town. The peninsula, says Deggin, is the equivalent of the Cotswolds for Turks, a classy and attractive step back from busy working life. 

“Property prices peak in Türkbükü, Bodrum Town and Yalikavak but you can still get a two-bedroom flat with a balcony in a small complex of 20 or 30 units — and possibly even a sea view — from £75,000, or a three-bedroom detached house and pool for under £170,000.”
Modern Style
At the top end of the market there are some exciting new projects. Strict planning rules were relaxed in 2006 and while a maximum two-storey restriction remains, the supply of contemporary-design homes is growing. US architect Richard Meier recently completed the first of a proposed 22 modern villas in the hills above Yalikavak on the north of the Bodrum peninsula. The seven-bedroom home was bought by a British investment fund manager for close to £3 million, and building has begun on the second house.

Other villas at Yalikavak Heights include a four-bedroom stone home in three acres of gardens, built in 2007 and on the market for £1,329,180. “There are only 40 or 50 villas in total at Yalikavak Heights, all hidden among the trees in dense, large gardens,” says Deggin. “These homes are exclusive and completely private with good sea views.”
The harbour and St Peter's Castle in the port city of Bodrum, south-west Turkey

A New Marina
Below these villas, Yalikavak is a charming town with narrow cobbled streets. It is also home to new, super-smart 450-berth Palmarina, Turkey’s first mega-yacht marina, with shops, restaurants and full boat services. Palmarina aims to add a further 300 berths next year. “Yalikavak marina already attracts some exceptional yachts as one of the best marinas in the Med,” says Deggin. “It has helped sales of waterfront homes in the area, too. It is not possible today to build within 100 metres of the sea so existing homes are in high demand.”
Mid-Market Value
A three-bedroom penthouse with a convenient local jetty in Yalikavak is £553,800, while above the sea, a three-bedroom stone modern home with a pool and garden is £399,000, both through Property Turkey.
£95,000: a three-bedroom ground-floor flat in Güllük near Bodrum airport. Call 020 8339 6036

On a small, well-managed complex in a quiet area of Yalikavak two miles from the new marina and 500 yards from the beach, with a resident caretaker, a four-bedroom modern villa is on sale at £320,000. Annual service charges are about £1,500 and the villa would rent for at least £1,200 a week from June to late September, says Deggin. A detached modern resale villa with four bedrooms and a pool in Yalikavak, 45 minutes from Bodrum airport, is £445,000 through estate agents Spot Blue. It is in a small complex of 24 homes that share access to a beach club 10 minutes away. Nearby, a newly built home of similar size with an Italian kitchen and open-plan living area is £456,000.

“Those with tighter budgets head to Güllük and Tuzla close to the airport where prices start from £45,000,” says Julian Walker of Spot Blue. “However, buyers from around the world are looking at Turkey and on the Bodrum peninsula itself, average sales prices are increasing.”
Contacts and fact file
* Property Turkey: (020 8371 0059)
* Spot Blue: (020 8339 6036)
* Allow up to six per cent for buying costs.
* All home purchases must be approved by Turkey’s Army Office, normally a formality.

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