Anyone thinking of buying property in Kusadasi is really investing into the larger Turkish real estate sector which has for many years and still is making a roaring trade from foreigners. The industry is blatantly different from pre-2000 when buying Turkish property as a foreigner was hard, haphazard and not a wise financial investment at all.
In the following years, the Turkish government regulated and relaxed property ownership for foreigners and by introducing mortgages to the Turkish domestic sector, were able to generate a boom in construction as demand for new, modern housing grew.
The Kusadasi property market benefited from these significant changes. Attracting many foreigners, its demographics changed to a multicultural hub of nationalities, but it has gained more traction in recent years, and for good reasons.
Why People Buy Property in Kusadasi
1: Urban Regeneration Projects
Kusadasi always did an excellent job of presenting a clean, smart appearance to it sizeable stream of cruise ship passengers and general holidaymakers. A new cruise ship port in 2006 brought with it an influx of third wave coffee shops and international brand names, while the front promenade could easily match those seen in Spain, Portugal and the French Riviera.
Yet, away from touristic areas, ugly buildings blighted the horizon and roads with heavy traffic were full of potholes. That is until a few years ago when the council kicked into action and started a campaign to modernise its urban infrastructure.
The results had a positive effect on local neighbourhoods as increasingly more people appreciated the aesthetic look. The uniformed blending with touristic areas also had a positive impact on the real estate market.
2: Year-Round Tourism Trade
Whether or not you are looking for a buy-to-let income, the year-round tourism trade of Kusadasi benefits locals in many ways. Unfortunately, in coastal resorts of Aegean and Mediterranean Turkey, life slows down in winter once tourists go home and this affects locals through the temporary closure of bars, restaurants, shops, and hotels.
While package holidaymakers to Kusadasi slow down in winter, it still welcomes independent travellers, as well as cruise ship passengers and this, in turn, keeps everything ticking over. Shops and attractions stay open, the resort centre keeps its cosmopolitan ambience and locals don’t feel like they are living in a ghost town.
3: Excellent Transport Links
An impressive transport network attracts many buyers to Kusadasi. Having a choice of two airports, either Izmir or Bodrum that are within two hours transfer drive means getting there all year round is quickly done.
While a local bus system running from the centre gives residents a choice to get around cheaply and quickly, should they want to go further afield, the main otogar on the outskirts has routes to other places across Turkey. Then of course, for car drivers, the nearby Izmir and Aydin highways give access to a multitude of areas within easy reach.
4: Vibrant Property Portfolio and Excellent Exchange Rate
One strong reason to invest in Kusadasi property is that the town’s real estate portfolio offers so much variety including off plan, new and resale apartments and villas. Starting in price from around £60,000 for a two-bedroom apartment, payment plans vary depending on whether you buy resale or off plan property.
Also, at the current exchange rate between the Turkish lira and other currencies, buyers are tapping into lucrative bargains, and with long-term investment, the potential return on investment is massive. By using specialised transfer companies, when sending money over to pay for the property, you can also get an excellent rate and save on fees.
5: Good Liquidity
Naturally, when we buy real estate, the aim is to keep hold of it long term. However, life sometimes presents us with challenges and this moment is when we need to get our hands-on cash quickly and easily by converting our bricks and mortar purchases into hard cash.
This is where Kusadasi steps up to the podium because as well as featuring heavily in the Turkish real estate sector, it garners interest internationally. Many different nationalities purchase property in Turkey including Europeans, Middle-Eastern, and Russians. This means anyone selling a property has a global audience to appeal to.
6: A Seaside Lifestyle
Although people think of the main town centre when they hear about Kusadasi, the region includes smaller coastal resorts like Davutlar and Guzelcmli that attract property buyers because of a laidback lifestyle. Expats often have a dream to live out their retirement by the sea with gorgeous weather and Kusadasi offers just that.
Depositing money in high-interest savings account, expats live off their monthly interest and don’t have to touch their net worth which is why life in Kusadasi has many hardcore fans. Read more about their lifestyles here.
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First-time buyers in Turkey are naturally daunted by the process of buying real estate in a country where they don’t speak the language. However it is simple, straightforward and by law, you need a translator. For easy learning though, this article features commonly used Turkish words that you will hear when buying property in Kusadasi.