House Hunting in … Turkey


This five-bedroom property occupies a 1.25-acre plot of land in Yalikavak, a city on the Bodrum Peninsula in southwestern Turkey, about two miles from the Aegean Sea. It is 10 miles northwest of Bodrum, the Turkish port metropolis identified for its seashores, boating and historic ruins.

Completed in 2012, the property features a two-bedroom villa, a three-bedroom guesthouse and a one-bedroom workers home, in addition to a big swimming pool and a number of other lined terraces with views of the Aegean coast. The homes had been constructed out of steel-reinforced concrete and adorned with native stone, giving them a conventional Turkish Aegean aesthetic. The interiors have wood-framed home windows, rustic stone partitions, oak and tile flooring, and hefty oak ceiling beams.

An extended driveway leads previous the workers quarters to a graveled parking space. The entrance door of the roughly three,230-square-foot essential home opens to a eating space adjoining to the kitchen. To the correct is a lounge with built-in oak bookshelves, a hearth and a comfy seating space going through the ocean. The kitchen, to the left of the eating space, has Turkish tile flooring, chestnut cupboards and chestnut-framed French doorways opening to expansive terraces and al fresco eating areas.

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A stairway adjoining to the primary home results in the property’s visitor quarters, with the Aegean Sea in the gap. CreditHeike Tanbay/Engel & Völkers

Upstairs, the master bedroom has an massive arched window, a spacious rest room and a personal balcony with water views. The second en suite bed room downstairs is usually utilized by company, mentioned Heike Tanbay, managing director of Engel & Völkers Bodrum, which has the itemizing. The house’s furnishings and decorations, a mixture of antiques and Turkish textiles, are included in the asking value (excluding sure collectibles).

The guesthouse is roughly 2,150 sq. ft, with three en suite bedrooms related by an outside courtyard, and a portray studio with sweeping water views in the constructing’s tower.

Behind the homes, a stone staircase descends to a 56-foot pool and surrounding stone patio. A walkway results in a toilet, a sitting space and a health room in the backyard stage of the primary home.

The landscaped grounds embrace tangerine and jacaranda timber, and supply a number of lined lounging areas. The one-bedroom workers cottage is roughly 750 sq. ft and is at the moment shared by two caretakers, a pair whose employment may proceed, Ms. Tanbay mentioned.

The property is in a sparsely developed residential neighborhood in the coastal resort city of Yalikavak, which has a inhabitants of about 13,000. Yalikavak Bay, 5 minutes away by automotive, has a well-liked marina that caters to yachts and gives buying and eating. Bodrum, in the province of Mugla, is a few half-hour drive; the port metropolis, which has a inhabitants of about 40,000, is thought for its seaside resorts and hyperlinks to historic historical past, together with the ruins of the Mausoleum of Mausolus, one of many Seven Wonders of the Ancient World. Milas-Bodrum Airport is about 30 miles northeast, and the Greek island of Kos is a 50-minute ferry trip away.

For a long time, the nice and cozy, dry Bodrum Peninsula has been a playground for Turkish aristocrats, worldwide royalty and celebrities. “It is regarded as Turkey’s answer to Saint-Tropez,” mentioned Tolga Ertukel, founder of Turkey Homes, a London-based real estate agency with offices throughout Turkey.

International buyers have been emboldened by the recent elimination of the value-added tax paid by foreigners on newly built homes, agents said. Another incentive is a change to the country’s citizenship-by-investment program, which loosened the requirements from investing $1 million in real estate to investing $250,000.

“Our inquiries have tripled over the last three months, especially the Istanbul market,” Mr. Ertukel said. Ms. Tanbay, however, said she believes the program’s effect will be limited, particularly in Bodrum.

Mr. Deggin and other agents said Turkey’s increasingly autocratic government does not seem to have been a concern for many foreign buyers. “They are not put off at all,” he said of his clients.

Despite a recent surge in international interest, Bodrum is still known as a weekend or holiday destination for wealthy Turks, and agents said the vast majority of buyers are Turkish — among them, those who currently live in the country, expatriates returning from abroad and couples that include one Turkish citizen.

“The money is Turkish money in Bodrum,” Mr. Deggin said.

Most foreign buyers come from France, Canada, Britain, Germany, Switzerland, Austria, the United States, Norway, Sweden and Denmark. But in the past five years or so, more buyers have been coming from Middle Eastern countries like Qatar, Kuwait, the United Arab Emirates, Saudi Arabia and Lebanon, agents said.

Purchases of real estate by citizens of certain countries, including the United States, are restricted by the Turkish government, said Gönenç Gürkaynak, the founding partner of ELIG Gürkaynak Attorneys-at-Law, in Istanbul. Typically, they cannot buy more than 30 hectares (roughly 75 acres) of land, although there are exemptions, and they cannot buy property in military or strategic zones. Foreigners also cannot buy property in areas where the amount of land already owned by noncitizens exceeds a government-established maximum.



Source link Nytimes.com

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