The resort season in Turkey has already begun, even earlier than usual this year, thanks to a mild winter.
Considering that some property owners prefer to expedite their return on investment by renting out their apartments and houses during the summer, when monthly, weekly, and especially daily rental prices can be higher compared to long-term leases with annual renewals, we will discuss which areas and what types of real estate in Turkey are more in demand in this context, particularly for the “summer option.”
First and foremost, when it comes to buying residences geared towards living during the warm months (apartments, townhouses, villas, and even small summer cottages, of which there are many in Turkey)—experts recommend focusing on the following destinations in 2024: İzmir, Side, Aydın, Muğla (especially Bodrum, Fethiye, and Ölüdeniz), and Didim. And of course, Antalya Province, where the leading areas are Lara, Alanya, Kemer, Side, and Belek. The choice should generally depend on your taste and budget.
Representatives from one of the key Turkish real estate appraisal companies, EVA (EVA Gayrimenkul Değerleme), comment on the situation. In addition to daily or weekly rentals in high-quality residences, especially villas, the increased demand for seasonal accommodation in “summer” areas, coupled with internal migration of local residents to these regions, has led to an increase in both rental prices and property prices. However, in recent months, due to the economic situation, significant uncertainty from political elections (now successfully concluded), and rising mortgage interest rates, the volume of home sales has declined.
Consequently, there is clear stagnation in property prices, and in some areas, there is even a slight decrease, which benefits potential buyers who now have a chance to purchase desired properties with some savings, especially at this moment.
Another important point: current property owners are cautious about daily/weekly/seasonal rentals due to revised regulations, requirements for rental properties, and taxation established by the state.
Turk Estate has previously reported that the “Regulation on the Rental of Residences for Tourism Purposes” was published in an official source on December 28, 2023, and the new rules officially came into effect on January 1, 2024. These new regulations have tightened the rules for rentals that are not long-term (primarily those with annual contracts).
Weekly and daily rentals are extremely popular in the mentioned areas, especially in Fethiye–Ölüdeniz and Bodrum, where villa rentals are very expensive.
The cost of renting standalone houses on the Aegean coast is determined by a combination of factors: distance from tourist crowds, the greenery of the surrounding area, the size of the property, as well as transport accessibility and proximity to social infrastructure.
For instance, Bodrum (Muğla Province), Çeşme/Alaçatı, and Urla (İzmir Province) are preferred by people with very high incomes. Slightly more affordable options—though by no means the cheapest—can be found in Fethiye (Muğla), Seferihisar, Foça, Dikili–Çandarlı (İzmir), Kuşadası, and Didim (Aydın), as well as in Edremit (northern Aegean Sea).
On the Mediterranean coast, the most popular year-round destination is Alanya, while Kemer, Belek, and Side are favoured for their more seasonal appeal.
If you plan to rent out a house for a short period—from a few days to several months—in a resort area, given the current situation, you should ensure that the exact amounts for the period (weekly, daily, monthly, for the entire term) are clearly stated in the contract. This will protect the tenant from being told, “starting next week/month, pay one and a half times more, or move out,” because a potential tenant willing to pay a higher price has appeared.
It is also important to accurately assess the value of the property you are offering for short-term rental. All other characteristics being equal, such as size and number of floors, it is essential to clarify how your requested amount corresponds to the property’s distance from the sea, its proximity to the town centre, social facilities, shopping streets and malls, transportation hubs, as well as environmental factors. This includes not only how “green” the area is or whether it is windy but also the absence of nearby construction, noise pollution (e.g., landing aeroplanes), poor transport links, excessive distance from the nearest hospital, etc.
Additionally, it is wise to evaluate—for future sale purposes—the numerous “comfort features” of the coastal residence you are renting out. This includes the number of rooms and specifically bedrooms, the number of sleeping places (which differs from the number of bedrooms), the condition of the furniture, availability of appliances, and more. To get a sense of what amenities to provide in your short-term rental summer residence, read reviews on platforms like Booking.com or Airbnb.
This is crucial because competition among landlords is expected to gradually increase—Turkey has seen a rise in housing construction volumes, partly driven by demand in “summer” zones (like summer cottages), in resort towns and villages.
Content:
Most Popular Types of Real Estate by Area
- In Kuşadası, residences in communities known as “site” in Turkish are particularly sought after. These are comfortable small complexes of houses with their own gardens, pools, parking, and other necessary infrastructure within a fenced area, where entry is restricted to residents and their guests only.
- In İzmir, particularly in Çeşme and Alaçatı, there is a high demand for villas, and many are being built. The number of projects with houses in Germiyan, Reisdere, Urla, Foça, and Seferihisar has increased.
- A similar trend is seen in Muğla, in the Fethiye-Ölüdeniz area.
- On the northern Aegean coast, due to increased demand for this type of housing, the number of 1+1 apartments being built is increasing.
- On the Didim–Dikili and Kuşadası line (İzmir and Aydın provinces), high-quality, comfortable urban-style projects are also in high demand.
- Regarding the Antalya coast (Mediterranean Sea, Antalya Province), the number of high-end residential complexes, primarily aimed at foreigners, is rapidly growing.
- In Bodrum, considering the rising land costs and decreasing availability of plots, new residential development projects (new constructions) have started shifting towards Milas and Dalaman.
Examples of Rental Prices
Turkish real estate consultants, after analysing the current situation and trends while considering inflation, forecast the following rates for short-term (seasonal and less, i.e., months, weeks) rental housing for the coming months.
Marmara Region:
- Çınarcık: A little-known but noteworthy small resort town about 13 km from Yalova and 100 km from Istanbul, named for its abundance of cedar trees and known for its therapeutic hot springs. Monthly rental prices range from 15,000 to 25,000 Turkish lira (TL) (USD 464–773).
- Esenköy (in Yalova Province, near Istanbul; not to be confused with Esenköy near Fethiye in Muğla Province, as some regions in Turkey have towns or villages with the same names): Monthly rental prices range from TL 10,000 to 15,000 (USD 309–464).
- Kumburgaz: A small town on the Black Sea coast, but still within the Marmara Region of Turkey. Known for its beautiful nature, including scenic mountains and beaches, and considered a popular tourist destination at the local level. Monthly rental prices range from TL 12,000 to 30,000 (USD 371–927).
These are currently among the most affordable resort options.
- Silivri: Located in Istanbul Province, on the coast of the Marmara Sea, in the European part of Turkey. It borders the Istanbul districts of Büyükçekmece and Çatalca. Monthly rental prices range from TL 60,000 to 150,000 (USD 1,855–4,637).
- Gümüşyaka: In the Marmara Region but on the Black Sea coast, famous for its picturesque beaches with golden sand and exceptionally clean water. Popular among local tourists. Monthly rental prices range from TL 35,000 to 50,000 (USD 1,082–1,546).
- Selimpaşa: A district of Silivri, about 80 km from Istanbul. Monthly rental prices range from TL 30,000 to 45,000 (USD 927–1,391).
- Marmara Ereğlisi: A town and district in Tekirdağ Province, approximately 100 km from Istanbul, on the Marmara Sea–Iraklia. Not to be confused with other towns named Ereğli. Monthly rental prices range from TL 25,000 to 45,000 (USD 773–1,391).
Aegean Region:
- Foça: From TL 30,000 to 50,000 (USD 927–1,546).
- Dikili: From TL 30,000 to 60,000 (USD 927–1,855).
- Çeşme: From TL 90,000 to 180,000 (USD 2,782–5,565).
These areas are all in İzmir Province.
Moving on to Muğla Province:
- Bodrum: Monthly rental prices for apartments range from TL 40,000 to 120,000 (USD 1,237–3,710). For villas in Bodrum, rental prices start at TL 200,000 (USD 6183) and can reach up to TL 450,000 (USD 13,912).
- Datça: A small resort town accessible from both Bodrum and Marmaris. Monthly rental prices range from TL 25,000 to 35,000 (USD 773–1082). Houses in Datça range from TL 125,000 (USD 3,864) to TL 275,000 (USD 8,502) per month.
- It should be noted that in the Aegean Region, especially in Bodrum, prices vary depending on the month.
Mediterranean Region:
- Antalya: Furnished apartments range from TL 25,000 to 55,000 (USD 773–1,700) per month. However, “tourist” rentals by the week are more common than by the month, and accordingly, the prices are higher.
- Kemer: Monthly rental prices for apartments range from TL 45,000 to 75,000 (USD 1,391–2,319), while houses range from TL 170,000 to 200,000 (USD 5,256–6,183).
- Mersin: This area remains significantly cheaper, with apartments still available in the range of TL 15,000 to 25,000 (USD 464–773).
In reality, high-quality properties with good locations, such as expensive villas with views, can reach rental prices up to TL 25 million (USD 773,000) for the season (4 months) in Bodrum, which is also referred to as the Turkish Riviera. You can assess the investment benefits yourself!