Buying Property in Alanya
If you are thinking of buying property in Alanya, Turkey, congratulations on making a wise choice. As one of Turkey’s growing stars, the future looks bright for the town, not only in terms of real estate but also tourism, infrastructure, transport, shopping, and nightlife. As part of the greater Antalya region, the city of the same name has always overshadowed it. Yet promotion efforts over the last five years have paid off, and now Alanya has a right to bask in its glory.
As real estate agents, we guide all our customers through the Turkish property buying process, so call us if you have questions or would like to talk to a local agent. Otherwise, what do you need to know when investing in this part of Turkey?
Buying Property in Alanya
1: Can Foreigners Buy Property in Turkey?
Yes, they can. There are only five nationalities that cannot buy, but everyone else can and they become the legal titleholders. To date, many foreigners have purchased homes here, and it has a sizeable expat community who live there all year round.
2: Is Real Estate in Alanya a Good Investment?
Over the last decade, Alanya’s real estate market has grown to an enormous size. Every month, hundreds of properties swap hands, and there is an ever-revolving market of Turkish and foreign buyers, so liquidity is high. In terms of capital appreciation, much development is going on, so look at a long-term investment of 8 to 10 years to maximise potential.
3: Can I Rent Out My Home?
Many people buy property in Turkey and rent it out. Some sign up for special buy-to-let guarantees, while others use a company to manage the bookings, cleanings, and promotions. There are set rules regarding renting out your home like everyone who stays in it, must be declared to the government. There is also a tax to pay. This article about renting out your home provides additional information.
4: Do I Get Turkish Citizenship when Buying Property?
Turkey has a citizenship by an investment program for its real estate sector, but buying a property doesn’t qualify you. To apply, the purchase amount must be $250,000 or more. Once your application is accepted and approved, you must then keep the property for three years. Read more about the criteria and application process here. Many house owners buy a property and apply for a separate residency permit instead. This prohibits you from working but otherwise entitles you to stay in Turkey longer than a tourist visa.
5: What Are the Best Neighbourhoods to Buy in?
Alanya has many neighbourhoods to choose from, but some are surging ahead in terms of popularity for many reasons. This article about the districts of Alanya talks about them in-depth but for an overview…
Mahmutlar: This neighbourhood is popular for two reasons. The first is the long stretch of beach at the front of the resort. Second, the prices per square metre are affordable. With a starting price of around £30,000 to £35,000 for a 1-bedroom apartment, it is no surprise that many buyers look here first. The local council has invested much money into upgrading Mahmutlar, from a small sleepy village and the opening of Gazipasa Airport increased its popularity even more.
Kestel: Sitting 15 minutes from the city centre, Kestel caters for apartment buyers but also those looking at villas. Prices are higher than Mahmutlar, but it is the place to look if you want a nice penthouse with a stunning sea view. This destination is popular with Turkish and foreign buyers and combines the two lifestyles to form a powerful community.
Oba: Sitting 3 kilometres from the town centre, well developed Oba has everything to offer, including a weekly market, shops, restaurants, and a good transport network. The neighbourhood relies in a minor part on tourism with hotels and self-catering apartments, and for real estate, it is mainly British and European buyers.
Tepe: This is the place to choose if you want a sense of nostalgia. Known as the old town, the hilly district is also home to the famous castle. Given its hilly status, and central location, the properties sold here are luxury villas that give off a fantastic sea view.
How to Buy Property in Alanya
The first step is to find the home you want. Browse through our listings of properties for sale, that includes apartments and villas. They include everything to know, including price, location details, home features and an enquiry form to find out more.
Once you have viewed and chosen your home to buy, we then step in to guide you through the buying process from putting down a deposit to signing for the title deeds and moving in. Alternatively, call us to arrange a viewing and face-to-face consultation with one of our local agents.
Living in Alanya: Many people when buying property in Alanya end up living here all year round. In this article, we look at the reasons they make the move and what to expect if you plan to do the same.