Posted on 27 June 2011
According to the latest data from Rightmove the Mugla region is the most popular region in Turkey in terms of demand from foreign buyers, and is now becoming one of the hottest markets in the overseas property world.
In the Rightmove Overseas Search Report for May, Mugla is shown in 5th place on the top trending chart — top trending is the designation given to those locations receiving over 100 searches per day. With searches for property in the Mugla region up 27.20 percent on the month, Mugla was also the 7th fastest growing market in the chart.
The Turkish economy is one of the fastest growing in the world, the budget deficit is low, and in a bailed-out Europe Turkey is standing on its own two feet. Tourism is booming, and liquidity is high enough to support 20 – 25 percent growth in the mortgage market each year (according to the Central Bank).
This powerful package has reportedly seen Turkish property become one of the top choices with foreign buyers, and this is now starting to show in the overseas search data from Rightmove, which is the UK’s largest property website. The fact that we are seeing Mugla take charge in this is not because foreigners are actually buying or searching for Mugla property, but because it is home to several of the top places where foreigners do want to buy.
Bodrum, Fethiye, Dalaman, and Olu Deniz, four of Turkey’s top tourist spots, four favourites for buying holiday homes in Turkey, and all of them in Mugla.
Fethiye and Dalaman are two of Turkey’s top tourist towns, with a comprehensive offering of activities and things to see, not to mention a wide array of shops, bars and restaurants and of course great beaches and climate. Dalaman also has one of the best serviced international airports in Turkey. According to the Association for British Travel Agents, Dalaman was the number 1 destination for British holiday makers in 2008 (Spain still dominated the top 10).
The jewel in the crown is Olu Deniz, jewel in the crown because it is near equidistant to both Fethiye and Dalaman, with both just 20 minutes away by car, but also because it has been named the world’s most beautiful coastal bay/beach resort in many travel journals and magazines. Olu Deniz is protected by the government and so people will tend to rent and buy property in Fethiye or Dalaman.
Bodrum offers a very different experience to those mentioned above, but it is still one of the top tourist towns in Turkey. Bodrum is very popular with the club 18-30 and equivalent, but is also a favourite for family holidays as well.
According to Anna.Aero Bodrum International Airport traffic grew 11% in 2010 compared to 2009, making it the seventh busiest airport in Turkey. Some 62% of the traffic was international, with 1.9 million passengers a growth of 6% on 2009. Also significant is the fact that 45% of the international traffic was British passengers.
Those are the three top choices, but you also have Icmeler, Gocek, Marmaris and Dalyan. All are slightly less publicised, but all have great potential which is going less and less unnoticed by today’s increasingly savvy holiday home investor. And ultimately all are responsible for driving Mugla property up the popularity rankings in the Rightmove chart.