The Turkish district of Kalkan is perfect for buyers who want a holiday home and property investment. Just over 90-minutes from Dalaman International airport (being the nearest), Kalkan, or Kalamaki as Ottoman Greek settlers called the village 200 years ago, is Mediterranean Turkey's best-kept secret. Some people liken Kalkan to Positano of Italy's Amalfi coast, yet, Kalkan is arguably prettier and certainly more contemporary.
Until the early 1960s, Kalkan was highly inaccessible, for no coastal roads connected to other towns along Turkey's south coast or inland. It was an isolated little harbour town, a small fishing village which gathered around what is now known as the old town and the harbour area. Areas such as Kisla, Kiziltas, Ortaalan and even Kalamar did not exist. They were mainly olive groves. Kalkan's old town featured the ancient harbour, cobbled streets, and Ottoman-Greek houses typical of Turkey's Mediterranean and Aegean coasts. These tastefully restored and properly renovated properties still stand.
In 1984 the coastal road was laid and widened, putting Kalkan more firmly on the coastal map of the Turkish Mediterranean region. Until then, Kalkan only attracted keen sailors who ventured out of bays and coves of Gocek and Fethiye towards more exposed Mediterranean waters. Those, who came, fell in love with this pretty little place that preserved authentic charm dating back several hundred years. Kalkan developed beyond its old town boundaries in the early 1980s. Early developments were small family-run hotels and holiday homes built by admirers from larger cities of Turkey, who saw Kalkan as an ideal getaway and the perfect retreat from the hustle and bustle of large cities. Then, tourism started picking pace. However, Kalkan remained relatively small and tucked away.
It was not until Dalaman airport started bringing in overseas holidaymakers that Kalkan saw a rapid increase in its international profile. The first area to develop beyond the old town was Kalamar bay, where property hunters will find older-style houses built on relatively small plots during the 80s. During the 80s and 90s, emphasis was not necessarily on creating creative living spaces but on building a roof over one's head. Therefore, older houses built in this period sometimes lack aesthetic appeal.
Throughout the 90s, Kalkan saw slow but steady expansion, and the town and its population grew beyond its old boundaries. However, the actual development came after 2002, when the Turkish government lifted existing restrictions on property ownership by foreign nationals. From 2002 to 2014, Kalkan grew faster and more significantly. The shape and face of the area changed beyond recognition. But they preserved the authenticity of the old village despite incredible growth.
Will Kalkan in Mediterranean Turkey Grow Bigger?
Kalkan is shaped like an old Roman amphitheatre, with the old town and surrounding bay with steep mountains to the back cutting sharply toward the Mediterranean Sea. In other words, there is little zoning land left. Some land plots sit above the D400 main road in Kiziltas, connecting Kalkan to Fethiye and Antalya. However, there are only limited supplies. Komurluk area is almost entirely built up, and what remains are green belt areas, where construction is strictly prohibited.
Similarly, Kisla and Kalamar areas have almost reached their full potential, leaving few land plots for new builds in Ortaalan, where we see the most contemporary designs being the last area to develop. Given the limited supply of new properties, the number one rule of economics comes into effect in highly desirable places like Kalkan. High demand and limited supply dictate that existing goods will appreciate. The scarcity of supply always pushes up prices. Applying this to Kalkan means resale properties command exceptional premiums over 5 to 10 years max, especially if they have breathtaking views.
Main Property Districts of Kalkan
From the authentic harbour area facing the sea, the area immediately to your left after the old town is Komurluk, one of Kalkan's most desirable yet least available areas. Komuruk offers nicely built stone-clad villas at the seaside, some with water access. Next, follow the coast left to arrive at Kisla, a 20-minutes walk from the harbour. Kisla gives off incredible views of Kalkan's old town and bay. Also, desirable with Kalkan's best beach clubs. Kisla mixes stone-clad, more authentic builds and modern contemporary architecture, the latter being newly built properties.
Still looking out toward the sea, to your right is the established Likya Estate, where nicely redecorated and refurbished older-style houses come to market occasionally. Cross over the little hill from Likya Estate to arrive at Kalamar Bay, another little bay twinned up with Kalkan Bay. Kalamar Bay is mainly residential, with old family hotels and spectacular sunsets. Kalamar Bay is home to lovely seaside properties; however, plot sizes are smaller than, say, Ortaalan and Komurluk.
Now turn your back to the sea and look up. Although you cannot see beyond the old town, another growing settlement is above the main D400 road. This is the Kiziltas area. Some say Kiziltas is less desirable than Komuruk, Kisla or Ortaalan. However, the elevated area has excellent potential for amazing views looking out toward the entire bay further away. In addition, plot sizes are more significant here, giving more privacy.
Then comes Ortaalan, between Kalkan centre and Kalamar. Ortaalan was the last district to open for zoning and development. This is because so many properties in Ortaalan were built after 2005. Some of Kalkan's most exciting contemporary properties sit in Ortaalan, where architects pushed the boundaries of modern design concepts. The location affords excellent views toward both bays and is within easy reach of Kalkan centre, hence very desirable.
Why Property Prices Rise in Kalkan?
You have probably already answered this question if you have read the above. However, to underline the main factors pushing up real estate prices and keeping the market steady.
- An exceptionally charming place that attracts the more discerning holidaymaker and property buyers. Distance from the nearest airport puts off mainstream package holiday companies; therefore, mass tourism cannot flourish. This maintains Kalkan's charm as an elite and boutique resort.
- Growth is restricted due to landscape and geographic factors; therefore, mass construction is impossible. Demand increases yearly against diminishing supply, thus pushing up land prices and property prices.
- A strong resale market emerged in previous years due to limited new properties in Kalkan. This assures robust exit strategies for investors looking to access their healthy gains quickly.
- Owning a holiday home in Kalkan means tapping into incredibly high VIP villa rentals. There are no large hotels in Kalkan, and holidaymakers in search of privacy will pay premiums to rent attractive villas for their family holidays. Well-managed and marketed estates easily attract 20+ weeks from May to October.
Is Buy to Let Property Ideal in Kalkan?
Buy-to-let properties in Kalkan are an excellent idea. All successful investment strategies achieve firm and stable value growth, an assured plan to leave and high ongoing income after all management and maintenance costs. Our analysis shows that four-bedroom villas in Kisla, Komurluk and Ortaalan attract the highest rental yields (that is, the ratio of rental income to purchase price). Gross profits above 7%pa are easily achievable with little input from property owners in appointing the right management company and using the right marketing avenues to attract villa rentals. (How to rent out your Kalkan villa.)
More About Kalkan - Turkey
Things to do in Kalkan: Whether you are on your own, with friends, a partner, or with family, Kalkan always delivers numerous activities, regardless of the season or time of year. Sitting on the Turkish riviera and in the middle of Turkey's med coast, whether you stay close to home, or explore further afield, expect fun-filled days.
About Living in Kalkan: If you are interested in a property, you may consider using it as a holiday home or, eventually, moving out to Turkey. This article talks about why many foreigners live in Kalkan, what their days look like and how to become a legal resident in Kalkan, Turkey.
Property in Kalkan: If you want to buy property in Kalkan, see our portfolio of listings on the real estate market. Each listing contains everything to know, including price, location, and property features. Then use the contact details to find out more via email or to arrange viewings of properties for sale in Kalkan, Turkey.