The four-bedroom, 3.5 million Euro property makes a striking addition to the gently sloping hillside upon which it is built. The three separate sections of the arced concrete and steel property were built separately: a kitchen and dining area, a master bedroom with an en-suite, and an office with a bathroom. The three areas are joined by a glass atrium which overlooks the sea, taking in the sweeping views of
As you’d expect in a home of this calibre, the fittings and fixtures exude quiet luxury. The kitchen’s Gaggenau appliances and Corian countertops are sleek and unobtrusive. The living area’s Focus woodburner is ideal for cool evenings. A circular roof holds a 3.5 by 15 metre pool. This also acts as a natural cooling system for the property.
A pair of glass doors provide passage from the living area to a large terrace surrounding the pool. This terrace connects the main house with a two-bedroom, two-bathroom guest suite. A 327 square metre lower level could be converted into another unit.
Property Turkey director Cameron Deggin says the Exploded House is “the ultimate hideaway that’s just minutes from one of Turkey’s best resorts”. What he means is that while this 1.4 acre property, ensconced in its garden of olive, oleander and bougainvillea, is the perfect refuge for anyone craving tranquillity, its proximity to the heady action of Turkbuku means another world is never far away.
Turkbuku is Bodrum’s glitziest resort, a favourite with Turkish celebrities and a place to see and be seen. There is no beach in Turkbuku, and as a result a number of beach platforms have sprung up, attached to some of the swankiest bars you’ll see anywhere in Turkey. Turkbuku’s beach platforms are truly the playground of the rich and famous, and Turkbuku’s reputation for style and sophistication has become known internationally.
Turkbuku is around 45 minutes drive from Milas-Bodrum International Airport, which connects Bodrum to wider Europe and the Middle East.
Over the past ten years, Turkey’s real estate market has gone from strength to strength, bolstered by a strong economy, rapidly growing cities, consumer lending and a leap in construction in urban areas. Knight Frank data released this year shows that in the first quarter of 2013 Turkey was the seventh overall fastest-growing real estate market in the world, with prices growing by 11.5 per cent in a year’s period.
“The levels of foreign investment in Turkey are growing year on year,” said Deggin. “Despite global economic uncertainty Turkey’s growth has remained steady. Investors are of course attracted to stable conditions. The market is doing very well.”
Deggin dismissed fears of a property bubble. “Low bank lending, coupled with a large population who need housing mean that conditions are likely to remain favourable for a long time.”
The recent unrest, with protests against the government still ongoing in major cities, has not affected the Bodrum peninsula, or indeed many coastal areas, he said.
The Bodrum peninsula’s high-end real estate is generally owned by Turks, who leave their big city residences each summer, Deggin said. However, since the global financial crisis in 2008 foreign buyers are increasingly flocking to the peninsula as they seek alternatives to the stricken Spain.
The top foreign buyers so far in 2013 have been Russians, Deggin said, closely followed by buyers from Germany, Britain, USA, Sweden, Ukraine and Norway. Relaxed regulations for Middle Eastern buyers has also seen an increasing number of buyers from Gulf countries.
Deggin said that the average price for a two- to three-bedroom apartment on the Bodrum peninsula is 115,000 Euro. High end homes start at around 500,000 Euro.
To read the full article featured in the New York Times, please click here.
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