According to the results of 3 quarters in 2021, analysts can already predict the results for the year. Optimistic forecasts for record sales of housing to foreigners (remember that the goal is 50,000 housing units for this year) makes sense. After all, in the first 9 months of the year alone, foreign investors already purchased more than 38,000 houses or apartments in Turkey.
Of the provinces, Mugla is still the most in demand and Bodrum is one of its districts. On average, prices for the purchase of housing have increased by 52% and rental rates by 63% in the last year alone.
Based on the popularity of the region, the Endeksa real estate valuation portal updated data on the cost of housing in different districts of Mugla, Bodrum and the surrounding area by mid-October 2021. Giving potential investors the most accurate information about increased prices of residential real estate makes it possible to plan profitability in the future. As well as choose the area where it'll be more profitable for you to invest – depending on whether you focus more on the prestige of the location or the speed of ROI.
Content:
Mugla as the most popular province
The average selling price per square meter of housing in the Mugla province is now 8791 Turkish lira (units). The average cost per unit of housing is 1.152.000 TL (to be exact, 1,151,621 TL).
The approximate rental price for 1 sq.m was 31.25 TL over the past 12 months and the average rent per unit of housing was 3438 TL.
The largest increase in value in Mugla was in the districts of Datcha, Milas and Bodrum.
The prices of dwellings in Datcha increased by 83.57% over the past year, the average selling price per square meter of residential real estate is set at 10,357 TL, and the average price for a single dwelling is 983,841 TL.
The annual price of a Gillet in Milas was 77.33%; 1 sq. m. m will cost 6210 TL on Wednesday, the average price per unit of Gilles is 695,772 TL.
In Bodrum, the annual birth rate was 68.06%. Average price per 1 kW.
| Mugla | Average cost per 1 sq.m (TL) | Average cost per unit of housing (TL) | Price increase over the last year (%) | Leading places in the rate of return on investment in Mugla (serial number) |
|---|---|---|---|---|
| Bodrum | 14 092 | 1 748 040 | 68,06 | 3 |
| Datcha | 10 357 | 983 841 | 83,57 | 1 |
| Marmaris | 8053 | 1 049 720 | 37,66 | 7 |
| Fethiye | 7123 | 887 040 | 45,49 | 5 |
| Keychase | 6558 | 832 128 | 41,43 | 6 |
| Milas | 6210 | 695 772 | 77,33 | 2 |
| Menteshe | 4800 | 597 350 | 30,68 | 9 |
| Seidikemer | 4673 | 610 014 | 37,20 | 8 |
| Dalaman | 4167 | 424 820 | 47,71 | 4 |
| Yatagan | 2770 | 336 875 | 12,51 | 10 |
Bodrum as the most prestigious destination
Since the beginning of the pandemic, Bodrum is still the most popular area in the province of Mugla. In particular, Turkish celebrities continue to move here, which affects the attractiveness of the area for other residents – both current or «potential».
The locations with the highest selling price per 1 sq.m over the past year were Turkbukyu, Kumbakhche and Gelkey, and with the highest rate of real estate growth in value was in Gerish, Akyarlar and Kucukbuk.
- Gerish: the annual increase in housing value is 96.94%; the price of 1 sq.m for sale is on average 18,904 TL and the average price per unit of housing is 2,834,750 TL;
- Akyarlar: 84.3%, 12,639 TL and 1,410,370 TL;
- Kyuchyukbyuk: 83.98%, 18,806 TL and 2,736,000 TL;
- Turkbukyu: 66.23%, 21,141 TL and 3,286,032 TL;
- Kumbahce: 79.65%, 20,148 TL and 2,545,765 TL;
- Gelkey: 52.05%, 18,988 TL and 3,288,600 TL.
As you can see, in the most popular locations in Bodrum and surrounding areas, the average cost of both a square meter and a housing unit is 10 times more expensive than in the cheapest area in Mugla. So, for the price for an average apartment in the Turkish Riviera you can buy:
- about 10 apartments in Yatagan;
- about 8 apartments in Dalaman;
- 5 real estate units in Seidikemer or Mentesh;
- 4 in Kajeiz or Fethiye;
- 3 in Marmaris.
How much to buy and where exactly is up to the potential investor to decide.Keep in mind exactly what the future buyer plans to do with the property.
| Location | Average cost per 1 sq.m (TL) | Average cost per unit of housing (TL) | Increase in price over the past year (%) |
|---|---|---|---|
| Akchaalan | 7638 | 678 900 | 63,62 |
| Akyarlar | 12 639 | 1 410 370 | 84,30 |
| Bakhchelievler | 13 303 | 11 533 480 | 72,92 |
| Bitez | 16 608 | 1 925 352 | 63,9 |
| Charshy | 14 606 | 1 879 350 | 58,76 |
| Jevat Shakir | 9006 | 935 712 | 35,63 |
| Chiftlik | 15 542 | 2 200 000 | 80,18 |
| Turcan | 11 623 | 11 165 308 | 52,25 |
| Jumhuriyet | 10 753 | 1 396 220 | 47,58 |
| Derekey | 9427 | 1 194 120 | 29,88 |
| Dirmil | 15 955 | 2 399 200 | 75,7 |
| Eskicheshme | 14 659 | 1 682 280 | 47,86 |
| Farilya | 14 517 | 2 070 000 | 72,45 |
| Gerish | 18 904 | 2 834 750 | 96,94 |
| Gelbashi | 5054 | 422 576 | 52,32 |
| Gelkey | 18 988 | 3 288 600 | 52,05 |
| Gyumyushlyuk | 14 072 | 1 510 860 | 77,34 |
| Gundogan | 15 227 | 2 451 504 | 52,74 |
| Gureje | 11 970 | 1 635 600 | 56,86 |
| Guverjinlik | 7532 | 1 004 831 | 57,57 |
| Islamkhaneleri | 10 762 | 1 145 640 | 64,18 |
| Karabag | 8933 | 953 400 | 65,98 |
| Karpova | 4819 | 396 198 | 43,17 |
| Kyzylagach | 12 987 | 2 393 700 | 64,16 |
| Konajik | 11 850 | 1 184 810 | 49,92 |
| Kyuchyukbyuk | 14 453 | 1 822 425 | 74,79 |
| Kumbahce | 20 148 | 2 545 765 | 79,65 |
| Mumjular | 4822 | 414 092 | 45,59 |
| Muskeby | 14 520 | 1 683 747 | 54,34 |
| Bag | 14 899 | 2 418 768 | 58,05 |
| Turgutreis | 12 238 | 1 328 860 | 69,85 |
| Turkbukyu | 21 141 | 3 266 032 | 66,23 |
| Turkkuyusu | 12 690 | 1 423 760 | 73,05 |
| Umurja | 12 839 | 1 803 186 | 47,27 |
| Yahshi | 18 799 | 2 663 577 | 43,31 |
| Yalikavak | 18 951 | 3 037 500 | 68,81 |
| Enikey | 12 864 | 1 403 000 | 53,25 |
| Yokushbashi | 13 752 | 1 800 000 | 70,47 |
What to look out for:
- in the districts of Akchaalan, Dzhevat Shakir, Gelbashi, Karabag, Karpova, and Mumdzhular, the average cost of a real estate unit is less than 1,000,000 TL. So, if you aren't looking for an average one, then even in the vicinity of Bodrum, you can find cheaper real estate in these areas;
- the largest increase in value over the past year – 80% or more – was recorded in Chiftlik, Akyarlar and Gerish. And less than half a percent behind the mentioned threshold is Kumbakhche (+79.65%) at the end of last year;
- the undisputed record holder is Gerish. Here, the average cost of housing has almost doubled over the past year (+96.94%);
- there was a minimal increase in cost (slightly less than 30%) – only in one location: Derekey (+29.88%), while in all others, it was at least 35-40%.