New luxury resort development announced in Bodrum
Aida Tourism, a management group based in Istanbul with strong yachting links to Bodrum, has announced its first resort project. Located in Torba Bay, Shamana Hotel and Spa is aiming to be the “ultimate chic beach retreat.” But it won’t be the only one - other hotel giants such as Rixos, Sofitel and Swissotel have already staked their claim in some of Bodrum’s most prime locations.
Bodrum’s hit the headlines in the last few years as being a prime destination for the mega rich. International names like the Jaggers, Nicole Kidman, Princess Margaret, Beyonce, Dustin Hoffman, Kate Moss and Tom Hanks have all holidayed on the peninsula. Some, like the Jaggers, have even invested in the booming hospitality industry here.
Bodrum’s meteoric rise to fame is no accident. The area has been hugely boosted by a multi-million dollar rehaul of its marinas, particularly Yalikavak Marina, which now caters to superyachts from all over the world belonging to some of the globe’s most moneyed. Bill Gates and Roman Abramovich have both moored their multi-million dollar yachts in the area, which is now firmly established as one of the country’s top sailing centres.
The development and the surge of high profile visitors has meant the real estate market is healthier than ever before. The demand has been exacerbated by a recent move by town planners to halt waterfront development for the time being. Prices are rising by around 10% annually, and many homeowners are discovering that they can rent their properties out over the summer for high amounts, with some exclusive properties netting their owners up to 8% income each year.
Marina property is especially in demand, with homes near marinas sought for both purchase and for exclusive, private summer rentals. Studies in comparative countries show that marina property accrues in value at a rate of more than 50% more than non marina property, and investors are seeking to take advantage by snapping up the choicest sea front and sea view property in Bodrum.