Time Magazine Names Bodrum Among “World’s Greatest Places”: Finding $250k Homes Now Harder Than Ever
Time Magazine has ranked Bodrum as one of its “World’s Greatest Places” for 2021.
This follows last year’s article in Business Insider, as previously reported by CIP Turkey, saying that Bodrum was the number one place to visit and that it had claimed number one spot ahead of St Tropez, Mykonos, and Bali.
We have also experienced a significant increase in demand for Bodrum properties from our CIP clients over the past year. This surge in interest has led us to place more of an emphasis on adding to our portfolio of properties that are suitable for citizenship investment.
As mentioned by Time Magazine, the likes of Loft, Mett, and Raddison have been building luxury beachside residences in Bodrum. In addition to these names, there are also ongoing hotel and residence projects by global brands such as Four Seasons, Ritz Carlton, and Address by Emaar.
This makes it quite difficult to source properties for clients that are looking for investments close to the $250,000 minimum threshold for Turkish CIP because the starting price for these types of projects is generally closer to $1 million.
This can be attractive to larger families who may want to invest together and secure four main applicants on a one million dollar property. For those looking to find something closer to the $250,000 is where our two decades of experience comes into play.
With the aid of our well-established network, we are constantly searching the resale market for high-quality properties that not only represent value for money but that are also eligible for citizenship qualification.
That is not an easy task when one considers the large percentage of foreign property owners in Bodrum, both past and present, as properties that are owned, or have previously been owned, by foreigners are ineligible for citizenship qualification.
So we have had to come up with some creative solutions for our clients wishing to relocate to Bodrum. One of those solutions that is proving to be very popular is to invest in a property with good rental yields in Istanbul and to use the rental income to lease a property in Bodrum.
Due to the difference in rental prices between Istanbul and Bodrum, this has meant our clients can actually live in a property in Bodrum that might be over their budget if they were planning to buy.
For those who still wish to buy, we are constantly trying to source the best options as close to the $250,000 price point as possible for our clients, and because Bodrum is among the highest capital appreciation cities in Turkey, it makes a very sound investment.
If any of our current partners or other RCBI providers have clients interested in Bodrum, please get in touch and we will be happy to assist.
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