Darren Edwards of Luxury Property Turkey : The Bodrum Property Market.
Read Darren’s article as featured in the 2016 Bodrum Guide.
A 12-year veteran in Bodrum property, Darren Edwards of Yalıkavak-based Luxury Property Turkey sees a diverse range of nationalities and backgrounds
buying in Bodrum, led by the Turkish. Some joke that with Bodrum’s strong domestic demand, it has become “a suburb of Istanbul.” Bodrum property, like its diverse tourism market, has a stronger foundation as it is not reliant
on one nationality. Like in other areas, the international buyers are educated world travelers from the Middle East who are buying in Bodrum for the lifestyle, as well as global expats and Europeans, who have long
connections with Turkey.
Edwards has seen the Bodrum property market go through the low price, high-volume boom of 2005-2008 when cheap 60-80 square meter villas were selling
Like hotcakes and then the dramatic 2008 slump.
Since 2012, there has been resurgence in the high-end living bracket. As he points out, “Yalıkavak is defnitely the premium residential area and likely to stay that way,” mostly due to its planning permissions requiring a lower
percentage building footprint on large blocks of land, ideal for those seeking privacy and space.
Yalıkavak and the northern coasts have the rarest of properties on Bodrum Peninsula, such as large villas with private waterfront access, which also attract a premium holiday lease market. Buyers are also looking for
contemporary architect-designed buildings, as shown by the Richard Meier project house sold for USD 5,000,000, the Berggruen developments, and now Emre Arolat – internationally renowned