Alacati Real Estate Market - Mansion Global
In another international article featuring Turkish house buying destinations, Mansion Global asked Turkey Homes Director Mr Tolga Ertukel about the growing interest in Alacati. Sitting on the western coast of Turkey, in the Aegean region, this small town rose to global fame over the last ten years, not only on the property market but also as a high-end holiday destination, where upmarket lifestyles paves trends.
However, despite its growing international fame, it has always been a prestigious destination among Turkish circles. For decades, eldery Turks and high-flying city workers have purchased homes in Alacati either as a retirement property or summer retreat. Sitting within an hour drive from Izmir city centre, it includes the nearby town of Cesme, and collectively, both boast of stunning beaches, and during summer a cool breeze that sweeps across the bays.
Claims to fame are plentiful, including ranking as one of the world’s best windsurfing destinations; however, it is the traditional stone cottages taking pride in travel magazines and property portfolios. Two storeys, whitewashed stone homes with traditional blue shutters and doors line both sides of cobbled paths overbrimming with the colourful bougainvillaea plants. Even run-down houses renovated in line with heritage themes highlight its days as a Greek fishing village.
While other destinations abandoned their cultural roots and built large, concrete, urban landscapes, Alacati refused to budge on its heritage and carefully combined tradition with upmarket boutique shops and modern restaurants serving fine seafood cuisine.
Tolga Ertukel says….
“This old Greek town, remodelled after the early 20th century, is a property magnet for wealthy Turks passionate about yachting and surfing. Stone villas with private gardens and swimming pools range from 2 million to 5 million Turkish lira (US$250,000 to US$600,000). High-end luxury villas close to the coveted historic town centre usually sell for TL3 million to TL5 million.
Most houses built 100 or more years ago have been renovated with stunning interior décor and design. You will also see some new build luxury villas with gardens and swimming pools that use the same architecture used 100 or 200 years ago. It is traditional, but, also modern, clean, and upmarket. Alacati’s unique architecture adds that extra edge when compared to other exclusive port towns on the coast of Turkey.”
For this, he explicitly refers to Bodrum. Operating as a high-end destination since the 1970s, Bodrum often hosts international celebrities and even Saudi Royalty. Yet famous Turkish people are turning to Alacati, that maintains a more discreet atmosphere devoid of paparazzi. Also Alacati has one feather in its cap that Bodrum cannot match. Its small size and growing interest provokes strong demand on the resale property market, therefore offering high liquidity. Although most people, once they have settled in Alacati never want to leave. Such is its Aegean charm; it has firmly cemented itself as a time-honoured destination. Read more about Cesme and Alacati in our area guide here.
Also of Interest
Properties in Alacati: Including apartments and villas, our portfolio of listings, some of which feature millionaire homes, perfectly highlights the Alacati real estate market in all its glory. Alternatively, for more information about investing in Alacati property, contact us today.
See the original article and interview on Mansion Global.