ISTANBUL

During the pandemic, demand for summer homes increased dramatically as city dwellers flocked to these secluded retreats, seeking “isolated vacations” to escape the threat of coronavirus.

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In some resorts on the Aegean and Mediterranean, prices for summer houses rose tenfold during this period. But after four years, the situation has changed.

More and more summer homes are coming up for sale, but there are now fewer buyers. Demand for summer homes has waned not only because the pandemic is over, but also because of the general perception that holidays are more expensive now than ever before.

“When people buy a home, they consider several factors. Not only the physical condition of the property, but also the conditions in the surrounding area, such as restaurants and social life,” says Arzu Turan of the real estate agency Emart Gayrimenkul.

When restaurants and social activities are more expensive, demand is weaker, says Turan.

For many people, summer houses are not a must, such properties are not freely available, she added.

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“Prices are falling because more of these properties are coming onto the market for sale.”

However, this does not apply to all holiday destinations and there are exceptions, says Turan.

There is always high demand in tourist hotspots such as Çeşme, Bodrum and Alaçatı, she said.

Last year it was hard to find a house to rent in Antalya, but that is no longer the case, says Baki Budakoğlu, chairman of the real estate appraisal company Denge Değerleme.

The number of rental houses available on the market increased from 21,500 in July 2023 to 23,600 in the same month this year, Budakoğlu said.

Tourism,