Antalya's foreign-buyer base is mass-market — Russians, Germans, Iranians, Kazakhs. Entry tickets at $135-175k for a 2-bed in Lara or Konyaaltı. Rental yields 5.8-6.0% gross on the long-let side, double that if you operate short-lets in summer.
Bodrum is UHNW second-home country. Yalıkavak and Türkbükü trade at $3,600-4,200/sqm — 3x Antalya's mid-tier. Transactions are thin, supply is limited by zoning and geography, and prices are effectively denominated in EUR. Russian buyers were never dominant here; the 2024 sanctions compliance tightening barely moved the market.
The Russian-buyer unwind hit Antalya much harder than Bodrum. Mahmutlar and parts of Kepez saw 10-15% USD price drops in 2023-2024 as Russian holders were forced to sell or saw demand evaporate for sanctions-compliance reasons. By 2026 the market has re-stabilised with a different buyer mix — Kazakhs, Iranians, Germans — but the vintage 2021-2022 buyers largely came out negative in USD terms.
Takeaway: if you're buying for yield, Antalya gives you cash flow. If you're buying for capital preservation, Bodrum's scarcity model is closer to a hard-currency asset.