Why Turkbuku is ideal for property investment in Turkey
Turkbuku on the Aegean coast of Turkey is a discreet coastal resort belonging to the sparkling Bodrum peninsula. Mainstream travel publications rarely feature it and holiday package companies tend to shy away from it. However, there is a good reason for that. While nearby places like Bodrum town centre, or cosmopolitan Yalikavak are all-rounders and cater for everyone from budget to the luxury travellers, Turkbuku has established a selective reputation among elite, famous, and incredibly rich people of the world.
Nicknamed the Saint Tropez of Turkey, during summer huge, luxury yachts drop anchor in the bay, exclusive restaurants on the promenade and boardwalk get ready to uphold the standards expected of them, and top class bars and nearby luxury hotels and private rental villas offer quality service to their esteemed clientele.
As one of the most exclusive destinations of the Turkish Riviera, the clientele of Turkbuku are some of the most influential people in Turkey and lately, wealthy foreigners have also turned their attention to the selective ambience the resort offers. What was once a small fishing village is now a glitzy collection of establishments that will cater to your every whim, so is Turkbuku an ideal spot to invest in Turkey?
Average Prices of Property in Turkbuku
Property prices generally start from £200,000 and this two bedroom apartment (left) with communal swimming pool is a good example of a bargain property because its location is just 50 metres from the beach, a fine example of one of the Turkey apartments in Turkbuku.
Likewise, this resale two bedroom (right) 2-bathroom apartment just minutes away from the glitzy restaurants and bars is exceptionally well priced at £249,000.
If you have a higher budget, though, the sky is the limit and thanks to renovation and new properties, architectural design is a key focal point of many Turkbuku properties. This five-bedroom, ultra contemporary Turkish villa (right) with private beach access and mooring villas really does explore new design trends for making a man’s home his castle. Over 1000 square metres of living space, incorporate luxury living with the natural sea views and modern trends.
What is your reason for property investment?
If Turkbuku ideally fits your budget, the next question to ask would be the reason for investing in this area. The area is suitable for buy-to-let properties but the high class established clientele market of Turkbuku means advertising would have to focus on select niches and publications. As part of the Turkish Riviera, there is a significant client base from yachts and traditional gulet boat cruises following Blue Voyage routes of which Turkbuku is on. It is easy to make connections with this market through utilising contacts in Bodrum town centre to advertise and source holiday rentals for you.
Anyone looking to make a long-term investment of twenty years more is onto a winner no matter where they buy in Turkey. This is because, for much of the last century, the market was stagnant because mortgages were not available. In the past fifteen years, however, mortgages are widely available, and a spate of building has taken place across the country. While the property market is in full flow, it is still very much in its infancy stages, and long-term projections for property prices are favourable.
Otherwise, you may only be looking for a private home for either year round living or holidays in which case Turkbuku fits all the boxes. It elite status ensure mainstream tourism crowds avoid it and it remains a selective resort away from the hustle and bustle of modern day living.
But what about facilities and amenities?
While Turkbuku may appear to be some kind of remote utopian heaven, normal day-to-day living of modern life is easily done. Within the resort are all facilities and amenities needed include supermarkets, taxis, doctors, and bars. Just 30 minutes’ drive away in Bodrum town centre is essential services like private hospitals, cargo companies, shopping malls, and selective trades such as yacht maintenance companies. One of the biggest benefits of the Bodrum region though is its own airport, which from Turkbuku is just a 40-minute drive away.
Is English Widely Spoken in the Resort?
Turkbuku sits on the Bodrum peninsula of Turkey that for the last 50 years has been a bohemian hangout for worldly artists, writers, celebrities, and foreigners. It was also one of the first places in Turkey to embrace mainstream tourism, so English is widely spoken. Such as Turkbuku’s status as a quality provider of hospitality services, most locals also know English as well to accommodate their foreign visitors. It is possible to live in Turkbuku and get by quite well without speaking Turkish but should you want to learn some of the language, teachers can be hired. Likewise, for official purposes, translators operate throughout the Bodrum peninsula.
Further Reading: Further property examples are listed on our Turkbuku page here.