More Turkish Coffee with Darren Edwards – 2 of 3 – What are the trends?
Today we’re in a traditional Turkish coffee house sipping away at a strong brew. Darren’s caffeinated and ready for questions
Are investors gravitating towards Bodrum’s traditional stone house designs or a more modern (Philip Stark) look?
The modern look is certainly very much in vogue. Today’s demand is smart technology single story villas with very clean lies and ample glass to maximize lighting. However, we also have inquiries for more traditional homes with the fantastic stone masonry which is a dying art along the Bodrum peninsula, and these properties are also an important part of our diverse portfolio.
Can you expand upon the trends and demands expected in investment properties? For example, how many bedrooms? Guest house? Caretaker facilities on the property?
Apartments along the sea front and private residences affiliated with branded hotels with a minimum of 2 beds and 2 bathrooms starting at around €200,000 gives a growing number ofi nvetors an ”armchair investment” as far as the premise being fully managed and rented when not in personal use.
Buyers with budgets between €500,000 AND €1,000,000 are interested in villas with excellent sea views and a private pool. Yalikavak – with its superb marina – has been a powerful pull for such clients.
What environmental expectations are becoming the norm for buyers? Solar energy recycling facilities, artisan wells water-friendly gardens?
It’s important for some clients and less so for others. However, builders have come increasingly sensitive to green solutions and are increasingly incorporating eco-efficient solutions into new constructions, and with older renovations. Buyers are definitely also interested in energy efficient solutions to long term maintenance with their properties, whether this is through solar energy, insulation and maximizing efficiency of the power grid.
We even implemented a vermicompost area for a client upon request, meaning that she can reuse all of her organic material on her property.
What is the trend for the 2018 real estate market in Aegean and Mediterranean Turkey?
We have a sizable increase of interest and investors from the Near and Middle East. They see enormous investment opportunity in Turkey, as well as the ability to capitalize on their investment as a holiday and vacation while increasing long term return. Not only are these clients exact in their needs, they are also very loyal as far as referrals and recommendations when pleased with the services they have received.