Bodrum, located on the Aegean coast of Turkey, has become a desirable location for foreign property buyers in recent years. With its picturesque beaches, crystal-clear waters, and lively nightlife, Bodrum boasts a variety of benefits for those looking to invest in real estate abroad. One of the key advantages of purchasing property in Bodrum is the relatively low cost of real estate. Despite recent price increases, the cost of real estate in Bodrum remains significantly lower than in many other cities in Europe and North America. On average, the price per square meter in Bodrum is around $1,500 USD, while in major European cities like London and Paris it can be up to four times higher. In terms of rental prices, Bodrum is also an attractive option for foreign investors.
The average monthly rent per square meter in the city is around $10 – $15 USD, making it more affordable than many other major cities around the world. However, it should be noted that rental income increases substantially during the summer season. One of the best areas to search for property in Bodrum is the city center, which is home to a wide range of restaurants, cafes, and shops. Prices in this area tend to be higher than in other parts of the city, but the location is perfect for those seeking a lively and active lifestyle. Other popular areas for property buyers include Yalıkavak, known for its high-end properties and exclusive marina, and Gümbet, popular for its nightlife and beach clubs. Another benefit of buying property in Bodrum is the city’s growing economy.
The tourism industry is a major contributor to the local economy, and the city also houses many large companies and industries. This creates a high demand for rental properties, which can provide a steady income for property investors. In comparison to other major cities abroad, Bodrum offers a more affordable and attractive real estate market. For example, the average price per square meter in Miami is around $3,500, while in Bodrum it is around $1,500. Similarly, in Dubai, the average price per square meter is around $2,000, while in Bodrum it is around $1,500. Bodrum is known as a playground of the rich and famous, with many celebrities and politicians from around the world owning properties and spending their summers there. The city is also renowned for its vibrant nightlife, exclusive marinas, and luxurious properties.
Overall, Bodrum presents a great opportunity for foreign property buyers. With relatively low prices, a growing economy, and a prime location, it is an attractive option for those looking to invest in real estate abroad. With all its attractive features, stunning beaches, and beautiful weather, Bodrum is also an ideal place to live and enjoy a Mediterranean lifestyle. It is important to note that when buying property abroad, it is always recommended to seek professional legal and financial advice and take into account all legal regulations, taxes, and other potential costs.
