Real Estate

25 thousand new houses will be built in Mugla

Bodrum was one of the regions that shined during the pandemic period. Daglarca Caglar, Member of the Executive Board of Cagdas Holding, said that when the demand for the district increased, prices increased and new investments gained momentum, while the total number of houses produced in 2020 in Mugla, where Bodrum is affiliated, was 11 thousand, the number of licenses obtained only in the first quarter of 2021 reached 5 thousand. “While the total housing production in the city in 2021 is expected to reach 25 thousand, Bodrum will take the lion’s share of this activity,” Caglar said. Reminding that the population in Bodrum has increased from 200 thousand to over 600 thousand, Caglar said, “With the effect of migration to the district, the sales prices of brand projects have increased by over 100% in the last 1.5 years. At the moment, you cannot see the price of a square meter under ₺20 thousand in a new project built in the right place in Bodrum. This figure is around ₺12 thousand in old buildings. In the luxury segment, it reaches up to €10 thousand. A similar situation exists with leasing. For example, before the pandemic, the average monthly rental price for a villa at Swissotel Resort Bodrum Beach in Turgutreis was around €15 thousand. Now this figure is €30-35 thousand. You can think of this villa rental as ₺1 million in the season. In sales, we were trying to sell a villa in Bitez for ₺3 million 1.5 years ago, 6 months ago we sold it for ₺5 million 250 thousand. If we had waited, it would have been ₺7 million.”


Stating that they continue their investments during the pandemic, Daglarca Caglar said, “We are continuing our second phase of 19 villas in Paradise Bay, a boutique real estate investment of 6 villas in Gundogan, and our Swissotel Residences Bodrum Hill project in Yokusbasi. The cost of these 3 investments is €120 million.” Explaining that the Minister of Environment and Urbanization Murat Kurum has never stopped monitoring the projects in Bodrum, Caglar said, “The inspection 3 years ago was definitely good for Bodrum.”


Noting that construction investments in BODRUM have accelerated in recent years, Caglar said, “Every project in Bodrum must have an Aesthetics Board, which must be approved. There should be no projects that do not fit the atmosphere and architecture of Bodrum.” Explaining that Bitci Teknoloji, which was established in Bodrum in 2018 within the body of Cagdas Holding, has become one of the few blockchain companies in the world today, Caglar said, “We attract crypto money investors to Turkey with international agreements and technology exports. We enable them to trade on the Turkish crypto exchange. The sector will grow as the government clarifies the audit and taxation process.”

Source: Sabah / Translated by Irem Yildiz

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