Observer Explores Bodrum’s Upmarket Real Estate

bodrumview The British weekly Observer ran a news story last Sunday about a site of newly built luxury apartments in Bodrum, one of Turkey’s most popular summer resorts. The ’Aegean Hills’ apartments represent, according to the paper, one of Turkey’s cutting edge assets in property.

“There are many good reasons to buy in Turkey, and an estimated 17,000 Brits already have,” reporter Jon Robins noted. “But the country’s rather unimaginative approach to new builds suggests that an appreciation of contemporary architecture isn’t likely to be one of them.”

Yet now, with new constructions such as Aegean Hills things are changing. “The cluttered hillside around the former fishing village of Yalikavak, half an hour from Bodrum airport, certainly has a certain charm to it,” Robins commented. The properties have “a modernist twist accentuating the sharp minimalism of the design.”

The story also noted, “Some prospective buyers might regard Turkey as a step too far, with its frustrated desire to join the EU and the threat of terrorism (10 British tourists were injured in the Marmaris resort in 2006).” But, it added: “People buy in Morocco and that’s an Islamic country. The roots of secularism are well ingrained in Turkish life.”

The Observer story also underlined the potential of Turkey’s real estate market:

"Turkey’s overseas property market is in its infancy and mortgages have only been available to prospective foreign buyers over the past two years. None the less, the country is being tipped as having great investment potential and some believe that it will follow a similar trajectory to the Spanish market in the Seventies."

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