For anyone considering purchasing real estate in Turkey, Alanya is a good idea. In addition to real estate, the town’s infrastructure, transportation, and nightlife have been improving recently. Promotional efforts have paid off in recent years, and today Alanya may shine in its light.
A massive expansion in Alanya’s real estate sector has taken place over the past decade. Hundreds of properties change hands every month, and there is a constant flow of Turkish and foreign buyers. Consider a long-term investment of 8 to 10 years to get the most out of your money’s growth potential.
Is Real Estate in Alanya a Good Investment?
Yes, real estate in Alanya is a good investment. Turkey today shows stable economic growth and thus offers foreign citizens many directions for profitable investments. One of the fastest-growing sectors is the real estate market. The increase in housing prices in the country is progressing confidently. This trend is especially noticeable in the resort areas on the Mediterranean coast. One of them is beautiful Alanya. Interesting offers from leading developers appear every year, which makes it possible to earn money by investing in profitable projects at the excavation stage.
Buyers buy a home at this stage to resell it shortly before construction is complete or shortly after the home is in operation. Thus, after the completion of the construction, the cost of square meters in modern housing complexes rises to 40%, and a potential investor immediately generates income. It is worth considering that objects under construction can be purchased from the developer on favorable terms on an interest-free installment plan or a loan at a low rate; this means that the benefits of such an investment are obvious. Many foreign citizens also invest to buy commercial space and in Alanya, this is becoming one of the best ways to make good profits. This applies both to buying square meters to run your own business, and to their rental for offices, shops, restaurants, and cafes. The construction of new modern buildings will have the most positive effect on the appearance of Turkish cities and will solve many problems.
Investing in Alanya has many more benefits. For example;
- Lifestyle Options: From shopping to nightlife, dining out and things to do, Alanya’s popularity has enabled everyone to find the lifestyle they are looking for. Diversity makes it a cosmopolitan destination that attracts many nationalities from all over the world, including Russians, Germans, British, Middle Eastern, and Asian buyers.
- Multiple Languages: The biggest fear people have when buying property in another country is the language barrier. However, Alanya’s deep-rooted reputation in the tourism and foreign housing sales market means that the locals speak various languages. Therefore, foreigners rarely encounter moments when the language barrier causes a problem.
- Year-round Accessibility: Alanya is only two hours drive from Antalya Airport. Mediterranean Turkey’s best tourist air travel destination. This sophisticated airport, which has undergone many renovations and renovations, serves millions of air travel passengers with flights from all over the world every year.
- Cost of Living and Property Maintenance: The biggest attraction of the Turkish real estate market is that the purchasing costs are much lower than in many other countries. These savings continue into the cost of living and annual home maintenance.
- Attractive Entry Prices: While Alanya makes luxury residences stylishly, the area appeals to budget buyers and investors due to its low entry prices. These prices, which also provide great potential for capital valuation, are proving attractive for first-time buyers in Turkey.
- Mediterranean Turkish Life: Turkey’s southern coastline, also known as the turquoise coast, or the Turkish Riviera is a scenic sight. It’s a wonderful year-round climate, healthy eating, and the life most people dream of.
- High Market Liquidity: The real estate market moves and turns fast. Hundreds of homes are bought and sold every month. Property owners who want a highly liquid market will find it when they need to cash out bricks and mortar. The bonus is that the market is worldwide because Turks and foreign buyers love the area.
- Property Types: Such is the liquidity of the real estate market; buyers can choose from a variety of investments. Off-plan homes often appeal to those looking to save money or provide input into decor and design. Thanks to Turkey’s development projects, key ready-made homes abound; Otherwise, resale homes offer the potential to carry your luggage straight inside.
From which Regions to Buy a House in Alanya?
There are several neighborhoods in Alanya, however, some are gaining prominence for various reasons. The list of regions to buy a house in Alanya is as follows.
- Mahmutlar: Mahmutlar is a popular neighborhood for two reasons. The first is the resort’s huge expanse of beach in front of it. Second, the per-square-meter prices are reasonable. With one-bedroom apartments priced between USD 30,000 and USD 35,000, it’s no wonder that many buyers start here. The local administration has invested heavily in turning Mahmutlar from a village into a bustling tourism center, and the new Gazipasa Airport has further added to its attraction.
- Kestel: Kestel is located 15 minutes from the city center, Kestel caters to both apartment and villa customers. Prices are more than in Mahmutlar, but if you want a magnificent penthouse with a stunning sea view, this is the place to look. This location is popular with both Turkish and foreign purchasers, and it integrates the two lifestyles into a dynamic community.
- Oba: Oba is located three kilometers from the town center. Well-developed Oba has it all, including a weekly market, shops, restaurants, and a good transportation network. The neighborhood relies on tourism in the form of hotels and self-catering apartments, and the majority of real estate buyers are British and European.
- Tepe: If you want to feel nostalgic, Tepe is the place to go. The steep section known as the old town is also home to the famous castle. Due to its high terrain and strategic location, the properties for sale here are luxury villas with stunning sea views.
What are the House Prices Like in Alanya?
Due to the development of modern and advanced residential complexes, the successful implementation of various urban projects, and the inventive use of geographical settings in the creation of residential structures with breathtaking views of the Mediterranean Sea. Numerous new urban activities have evolved in recent years.
|1+0 (studio apartments, 40-50 m2)||USD 39,000 – USD 40,000|
|1+1 (one-bedroom apartments with an area of 60-70 m2)||USD 47,000 – USD 50,000|
|2+1 (two-bedroom apartments with an area of 100-125 m2||USD 68,000 – USD 72,000|
|3+1 (three-bedroom apartments and penthouses||USD 90,000|
Is There a Reliable Real Estate Company in Alanya?
Turkey’s Leader Real Estate Company Realty Group ®, for more than a decade, Turkey’s most professional real estate market leader has been in operation. Assume you want to buy or sell a property in Turkey, invest, manage a property, finance it, or gain Turkish citizenship. In that scenario, we have the experience, knowledge, and, most importantly, passion to help you navigate the process.
More than 73% of our new clients come from referrals from previous clients who have had success with us and a hassle-free experience buying property in Turkey. We are proud to say that we have been in business for over a decade and a half based only on customer satisfaction. Our salespeople are enthusiastic, dedicated, and well-educated. There is nothing they won’t do to meet or exceed your expectations. We can strengthen our serviceability and marketing alternatives for our clients as a result of our independence and involvement in the real estate industry.
In addition, we are enthusiastic about what we do, which is why we strive to be dynamic and inventive in our real estate strategy. Open to new technology and are constantly looking for more effective and efficient methods to do our work. Choosing to work with Realty Group ® is something we take very seriously. As a result, we’ve made it our mission to go above and above for you in everything we do.
Antalya Homes TM is a registered brand of Tekce Overseas Gayrimenkul A, a corporation founded in 2004. They have offices in Lara, Konyaalti, Alanya, Goztepe, Cevizlibag, Bursa, and Trabzon.
Tolga Ertukel, who has over 20 years of experience marketing Turkish property to a global audience, launched TurkeyHomes. Its headquarters are in London, and it has subsidiaries in Istanbul, Fethiye, Bodrum, and many other cities in Turkey. The firm has assisted many international purchasers in finding their ideal house by providing a full property-buying service from start to end.
How to Buy a House in Alanya with Realty Group?
The most crucial aspect of buying a house in a foreign country is property management. A lot of potential Turkish real estate investors are unclear about how to start; some choose to invest alone, while others find the procedure complicated and risky.
Real estate investment management can provide investors with access to markets that are difficult to locate or enter, as well as high-quality management and innovative guidance, as well as joint investment possibilities to assist new investors in what firms with extensive experience do. You can ensure a good return on investment by beginning with the right property management.
Realty Group provides the following services to clients in real estate management:
After the project is completed, we will provide our investors with the most appropriate support through our investment management services, such as reselling or renting your homes if desired, and we will make you the most profitable offers for high ROI. We will not only find the right tenant for your properties, but we will also follow up on all connected matters on your behalf, and we will keep you completely informed.
Furthermore, we have various projects that offer our clients a rental or resale guarantee as soon as they purchase the property. We will advise you on the greatest and most advantageous offerings that meet your budget and maximize your income.
In Realty Group, we have various possibilities for serving our clients, one of which is the concept of hotel apartments, which is becoming increasingly popular in new projects, particularly in Istanbul.
What are Realty Group’s Houses for Sale in Alanya?
The diversity of Alanya’s property market is its most notable feature. Based on design, affordability, practicality, and quality standards, there is a wide range of solutions to suit everyone.
You can find Realty Group Projects in Alanya in the listing below.
- Apartments and Flats: Apartments and flats are situated within fully serviced housing communities, as well as stand-alone towers and freestanding residential buildings These flats could be budget studio apartments or luxurious 5-star fully serviced residences. Cheap real estate is also accessible, however, the quality varies.
- Detached Villas: Detached villas are with views of the Mediterranean Sea, blue deep water during the day and city lights at night, large green spaces, lakes, or even direct access to the beach.
- Business Centers and Home Office towers: These are suitable for modern corporate environments positioned in the city’s center, near vibrant living hubs and transportation canals, or just outside the city, closer to the sea or forest.
- Shopping Centers: All-purpose commercial units and thoughtfully constructed stores are available in exceptional locations. Mostly located around major thoroughfares and social hotspots, as well as critical highways and intersection traffic hubs.
If you are interested in Alanya you can find more information about Properties in Alanya.
What are the Documents Required to Buy a House in Alanya?
This procedure is quite similar in Turkey to that of many other European nations. A deposit is needed at the time of contract signing, and the total payment is made when the title deeds are transferred.
Documents required for Turkish citizenship and the purchase of a home in Alanya are as follows.
- Identity card (or birth certificate) accompanied by an official translation
- Approval by the courts
- The Ministry of Foreign Affairs has given its approval.
- Marriage certificate translation (with the approval of the Ministry of Justice and the Ministry of Foreign Affairs and the approval of the Turkish Embassy)
- authentic Passports
- authentic ID cards
- 6 photographs per person on the marriage certificate
- Deposit slip to the construction company’s account where you purchased the property (meaning the same amount of investment)
- Property deed for $ 400,000
- Power of attorney for action to a Turkish lawyer
- Certificate of Property Value
How Much Deposit Is Required To Buy a House In Alanya?
Turkish developers frequently offer credit terms of up to five years across the country, but mainly in Istanbul. In most cases, you will need to put down between 30 and 35 percent as a deposit, and then pay the remainder in monthly installments. Following finance, conditions are usually attractive because some feature 0% interest. The properties are off-plan or newly built, and they offer a lot of possibilities for real estate investors because they have access to lower off-plan costs.
Alanya’s one-to-three-bedroom apartments are an excellent example. Buyers make a 25% down payment and then pay the remaining balance over four years. The apartments also contain a swimming pool, restaurants, terraces, and a fitness facility as part of the common living facilities.
Real Estate gives all of the information you need to know, such as the price, location, home features, and how to learn more or schedule a viewing.
When Will Realty Group Deliver The House?
After you purchase a property through Realty Group, our services do not end there. We will begin providing you with the greatest after-sales services, some of which are listed below:
- Once a choice is made to acquire a property through us, we provide our customers with a full range of after-sales services at no additional cost.
- We will assist our clients by obtaining the essential tax identification number for any foreigner who wishes to purchase property in Turkey.
- Create a bank account
- Assistance with the application for a residence permit in Turkey
- Procedures for getting Turkish citizenship through our firm’s lawyer who specializes in citizenship issues
- Purchasing furniture and home decor from the best vendors at guaranteed low costs
- To stay in touch and guarantee that your money has reached the developer’s bank account, we will follow up on monthly payments and installments and provide you with frequent account statements, as well as offer bank receipts.
Does Realty Group Provide Consulting Services in Alanya?
We have the greatest rating of assured and trusted real estate offerings through the best and safest Turkish construction companies, completing over 200 real estate projects and providing over 857,000+ consultation hours to our clients every year.
Our real estate consultants have an average of 5 years of expertise, which means you will get real estate guidance from the specialists themselves, ensuring that you get the correct answers with the highest transparency. The clients’ privacy and safety are one of our top objectives, thus we take care not to divulge any information about them during the process, and we also provide communication channels that meet the greatest privacy and dependability standards.
Moreover, our skilled real estate experts are here to service and advise you 24 hours a day, 7 days a week.
How Much is House Tax in Alanya?
Taxes are levied on both the buyer and the seller when purchasing and selling real estate in Turkey. The tax on real estate in Turkey for foreigners is the same as the tax on domestic residents, which is characteristic of many European countries and is a significant benefit for foreign investors.
In addition, property owners must pay a state duty of 2% to 6% of the value of their property each year, depending on the type of real estate: residential, commercial, or land plots with or without a building permit. The annual tax on residential real estate in the primary or secondary market is 0.02 percent. The annual property tax includes the so-called “kultur pay” (cultural heritage contribution).
This charge is typically paid twice a year, with the total amount divided into two halves. In general, taxes in the Republic of Turkey are not particularly high. Every year, the government offers helpful reforms aimed at making taxation as simple, accessible, and transparent as feasible. The tax percentage is computed using the apartment’s cadastral valuation. In Turkey, there is a new rule on the sale of real estate that requires a separate authority to review dwellings. The tax is deducted from this amount, which is indicated in the TAPU. In most cases, such an evaluation (cadastral value) will be less than the market value.
Payment is provided to the district municipality twice a year. The first payment is deferred until May, and the second is deferred until November, or you can deposit the entire sum all at once. You must bring a TAPU (title deed) with you, and the employee will give you a form to fill out and pay on the spot. In Alanya, for example, tax payments can be performed online through the city municipality’s website.
To do so, you must first visit Municipality and obtain a specific password. This option is useful for those who do not speak Turkish. The rental revenue generated in Turkey is tax-deductible. It is determined by the entire profit. Individual income tax in Turkey for a legal company is always equal to 22% of the income received.
The tax-free limit for commercial premises is TL 30,000. (approximately 5000 USD). In Turkey, income from the sale of real estate is taxed. For a legal entity, this payment is equal to 22 percent of the net profit earned. If a private seller has owned Turkish property for more than five years, they are exempt from paying this tax. However, regardless of the term of ownership, the buyer must pay a four percent property acquisition tax.
Can Citizenship Be Obtained When Buying a House in Alanya?
Changes to the regulations governing foreigners gaining Turkish citizenship went into effect on September 19, 2018. Foreigners who make an investment that meets one of the following conditions are eligible for Turkish citizenship under these modifications.
- A 400,000 USD property investment in Turkey with a 3-year hold period. (1 or more properties, the total value is essential)
- The applicant’s passport, residency or work permission, photos, and birth certificate are necessary to apply for Turkish citizenship. The applicant(s) must not be a security risk to Turkey. They must ensure the accuracy of the documents and information they submit.
Property investments in Turkey must follow Turkish laws. Foreigners can invest in residential, commercial, and agricultural properties to meet the requirements. During the transaction, they must have the title deeds to the property officially transferred into their names at the land registry offices.
A foreigner must have a valid residency permit or blue identification card to seek Turkish citizenship. A person’s spouse and minor children may accompany them when applying for citizenship. As a result, a family member can apply for Turkish citizenship.
What Should Be Done to Obtain a Residence Permit in Alanya?
If you intend to stay in Turkey for a long time, an ikamet visa (residence permit for Turkey) is required. However, despite a 180-day tourist visa, you can only stay in Turkey for 90. For first-time applications, you must appear in person at the Migration Office on the day and time scheduled.
After 60 months in Turkey with the (short-term) residence permit, the permit holder is eligible for lifetime Turkish citizenship. To convert a short-term resident permit into Turkish citizenship, you must apply.
Required Documents for a Short Term Residence Permit are as follows:
- Application for a Resident Permit (Signed)
- Photocopy of your passport.
- Four (4) biometric pictures
- Notification of sufficient and sustainable resources for the period of their stay.
- The Social Security Institution’s permission certificate;
- Proof of application for general health insurance to the Social Security Institution; and Private Health Insurance.
- Upon administration’s request, information and documents about the location of lodging and trip plans.