By Justin Mays:
Away from the hustle and bustle of big cities like Istanbul or Ankara is the small fishing town of Kalkan. Nestled along the Turkish Mediterranean coast, Kalkan is a well-known tourist destination. The blue waters, balmy days, and luxury living are just a few reasons that Kalkan has going for it.
The last few years have been rough on the property market all over the world. Turkey is no exception to that. Kalkan has fared well, though.
Kalkan’s local real estate market has developed drastically over the years and has become prominent both locally and internationally for its quality and luxury. The real estate in Kalkan includes villas and resorts rather than high-rise residences like in big cities.
Prime Property Turkey brings facts and forecasts on Kalkan, Turkey, real estate.
Kalkan Real Estate Facts & Forecasts
As a part of Turkey’s gorgeous Turquoise Coast, those who seek a Mediterranean lifestyle close to the mountains and want to enjoy a comfortable climate especially favor Kalkan.
Kalkan gives homebuyers much to choose from when it comes to holiday homes and other residential units. Buyers can find old wooden homes for sale and mansions in Kalkan, Turkey but also get luxury living options with elite features such as infinity pools, gyms, security, and much more.
As Kalkan’s properties have gained fame, many have questions about what the local real estate has to offer and if buying a property for sale in Kalkan, Turkey, is a good investment. While the price of properties has increased in the last year, the demand for Turkish real estate has also witnessed a massive boost. Despite the rising prices, foreigners continued to purchase housing and other properties.
- Kalkan has attracted tremendous interest from foreign buyers for its real estate due to how well its beauty has been preserved since the local government prohibited building high-rises and tall structures.
- In 2021, due to the pandemic, foreign and local buyers began to opt for rented accommodation instead of hotels, making holiday homes in Kalkan and other resort towns in Turkey popular and boosting their sales. Since then, many buyers have purchased properties in Kalkan to gain rental income. You can browse our Kalkan properties for sale to find options for all budgets.
- Despite the pandemic and the forest fires in Turkey in 2021, the demand for properties in Kalkan only increased. The primary reason is that the properties in this region represent a tranquil retreat from hectic city life. However, some even use them as buy-to-let units for profits.
- In 2021, the sales of residential units increased significantly compared to the year prior, with property sales to foreign buyers going up by 43.5%. A total of 1,491,856 housing units were sold in the country.
- The fluctuating value of the Turkish Lira in 2020 brought in a new wave of investors from overseas seeking high value for their money. In addition to the Middle-eastern and European buyers, Russian buyers have been buying homes in Turkey in 2022.
- Many who own properties in Kalkan prefer not to sell them despite a high chance of getting profitable returns since these properties bring in excellent rental income. This is mainly due to Kalkan and other resort towns of Turkey being the main holiday spots for Brits and other Europeans.
- Locals with jobs and other commitments in the major cities of Turkey also escape to Kalkan during the holiday season and other parts of the year. They rent out detached villas and apartments with beautiful views to relax.
- The Turkish Government has planned many major developmental plans for 2023, which will boost the local property market and attract more attention to Turkey’s resort towns.
- Kalkan’s property market is expected to grow in 2023 since the government has taken measures to expedite the property purchasing process by removing military checks and other delaying steps. This new streamlined process has encouraged more and more foreign buyers to invest in Turkey.
- Even though the property values and rents have been historically on the high side, the decrease in the value of the local currency is attracting foreign and local buyers to the region. This trend is not going to change any time soon. Both local and foreign buyers are looking to take advantage of the current conversion rate. As the real estate markets in big cities become increasingly congested, the interest in niche markets like Kalkan is rising.
You can also read our “Kalkan, Turkey | Facts and Attractions” post to learn more about what Kalkan offers. What’s more, we also have a “Kalkan Real Estate | How to Find Your Home” post with some excellent property recommendations.