Building Restrictions on Bodrum Peninsular (Yalikavak)
Merhaba herkes
I read an article in the Turkish Daily News last year saying that the Ministry of Culture and Tourism had taken over all planning decisions from the local councils on the peninsular and that because of over-development there would be a STOP to any further developments until these properties were sold.There were supposed to be 25000! unsold properties on the peninsular
Is this true?
The impression I have had since not long after my purchase in April'05 is that the property market has been very static with some modest decrease in prices.Thats obviously the supply/demand equation.

Yet i'm reading threads suggesting that Yalikavak municipality are developing there retail and commercial sites when I remember seeing back in Sept '05
lots of empty retail units.I assume that this continued commercial development is linked to the "vision" of the municipality once the properties have sold.This will bring more people into the village/town of Yalikavak both Turkish and Foreigners the population of the town will increase it will need more shops and amenities.

The consequence of this I assime will be a few more years of very modest growth if any in property prices until all the properties have sold,it's a buyers
market.

I'd like to see into the leader of the councils mind and see how he imagines Yalikavak in 5-8 years time.

I have talked to some waiters in restaurants that were saying that '01 '02 '03
were very busy years.
It was out of peak season but I've been to restaurants when we were the only people there,one of them was in the Marina.

I've just quickly re-read the thread-I must not get to bogged down with detail.

Just to say that buying my apartment in Yalikavak has been an inspiration I love going there.I will always remember the first time I came over the top of the hill where the old windmill is and seeing the view over Yalikavak -absolutely stunning!!!
Everything has turned out better than I ever expected.

Just a tad concerned about the unexpected expense, the growth and direction the local council and local business community envisage for
Yalikavak.

Anyway i'm looking forward as I always do to returning to Yalikavak swimming in the pool after a hard days sun-bathing looking up at my wonderful apartment feeling like a million dollars.
Serefe Sweetnighter
 

lynne

Member
Building Restrictions on Bodrum Peninsular (Yalikavak)
Hi sweetnighter and welcome to the Forum !
I live in Gundogan, the next bay up from you in Yali.
My good friend and business partner that I build with, is an architect and a member of the Bodrum Board of Architects.
Last year the same rumour was going around and he told me that development has not being stopped by the officials.
However the rules as per how much you can built on a piece of land has been changed. Therefore less buildings on one piece of land than in previous years.
I spoke with him today and he says things are very slow at the moment work wise for Architects,engineers and building trade in general.
His friend a civil engineer has roughly calculated that of the properties built in the region over the last 5 years about one third have not been sold.
On our two developments we have sold a third on each site.
Hoping this year will sell the rest of the properties !! :angel:

Lynne :)
 
Building Restrictions on Bodrum Peninsular (Yalikavak)
Thanks for the info Lynne
Good Luck with your business
Hope to chat another time.
Hosca kalin Sweetnighter
 

lynne

Member
Building Restrictions on Bodrum Peninsular (Yalikavak)
Tesekur ederim Sweetnighter !
Happy to chat anytime....... :gathering
Iyi aksamlar
Lynne :)
 

pldouglas

Member
Building Restrictions on Bodrum Peninsular (Yalikavak)
Yup you're right about the change in handing out planning permission to anyone wealthy enough to offer a hefty backhander. Good job the practice has been stopped and building hopefully slowing down - it must be hard for local people who have not made a fortune from land to see thier beloved peninsular built on so much.
We too have heard the estimate of twenty five to thirty thousand properties for sale on the peninsular, though am not sure how many square miles the peninsular actually is. This estimate of property for sale would not surprise us, but we did notice a definate slowing down of building when last there a couple of weeks ago.
Yes they are building shops in Yalikavak, heaven knows why, because as you and 'Luckycat' have observed - there are still dozens of empty ones with huge rents attached.
Our english agents in Bodrum, Gail and Martyn, probably hit the nail on the head when they observed that, if e.g. someone opens a laundry - ten more will open within doors of each other. It seems the same with property/land, one farmer gets a load for a couple of fields so everyone else jumps on the bandwagon. Result, too many properties for sale, a buyers market for sure.
We too bought our home to enjoy holidays amoungst some of the nicest people we have met, the Turkish. We may or may not continue to enjoy it, who knows, but we are not expecting to make a handsome profit if we do sell - if we can sell.
 
Building Restrictions on Bodrum Peninsular (Yalikavak)
The rumoured figure for properties unsold on the peninsula is closer to 40,000 as this includes resale property ownered by investors. Its not just Yalikavak that are increasing the number of retail units Turgutreis and the road side retail units in Konacik, Ortakant etc are increasing. From infor mation I have read recently Tourist figures are due to increase here in Turkey by a further 17 % approx this year. This is to include new tourist markets.

The current possition for property sales is a buyers market. But my turkish friends are a little stuborn when it comes to selling and what the asking price for there special development. These constructors need to be re educated in the field of property values. Not an easy job.
 

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