In a few weeks, the price of Karaja Island has risen by 84 million Turkish lira (TL).
Recall that the giant island is located in the famous Gekova Bay, one of the most popular tourist locations. It is considered one of the most beautiful corners on the planet, and deservedly so. And this «piece of paradise» with a total area of 316,000 square meters can be purchased as personal property.
The last time Karaja Island changed hands was in 1980, when a businessman of Turkish origin living in the United States planned to build a seven-star hotel on it. However, the project was not destined to come true: the island was declared a protected area of the 1st degree three years later, in 1983.
The owner regularly paid taxes for 41 years, but could not «agree» with the bureaucratic mechanisms on the construction of the hotel, and as a result, in 2015 he put the island of Karaja up for sale. At that time, the price of the island was announced in the amount of 78 million TL.
Further, the value of the lot grew almost every month. In April 2022, it was fixed at the level of 360 million TL, and by August it had already risen to 444 million TL. Largely due to the jump in exchange rates: the owner wants to sell the island for dollars.
Marmaris and other resorts of the Aegean coast remain among the most popular, primarily among Europeans. However, Russians are also showing more and more interest in this area, including in terms of investments. Moreover, the Russian air carrier has recently simplified transportation to Bodrum and Dalaman.