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20. 4. 2023

Why is real estate in Alanya becoming more expensive?

Over the past six months, the cost of real estate in the most famous resort areas of Turkey, Alanya, on average has risen by 30-40%, and in some areas – by 50-60%. In the secondary market the cost of apartments has risen by 20%. Experts predict a continuation of the growth trend at least until the end of the year.

Why property prices in Alanya are rising?

Growth in demand

The number of investors willing to invest in real estate is growing. This leads to an expansion of the territory of development. The number of foreigners dreaming of their own apartments by the sea is also growing. Increased demand to buy real estate and an increase in the number of cities, affects the cost of land in Turkey. The higher the cost of land, the more expensive real estate.

Increasing the cost of production

Due to the devaluation of the lira, construction materials are also increasing significantly in price. Since the beginning of 2022, the prices of all major construction materials (cement, concrete, aluminum, wall blocks, and profiles) have risen by about 30-50%.

Also, the rise in the cost of construction is affected by the increase in the minimum wage, which increased by 30% since July 1.

Price increase of land plots

Today in Alanya there is almost no free land next to the sea. A few areas such as Demirtas or Gazipasi are available for development. Plots within 3-4 km from the sea in the most popular areas of Alanya in recent years have increased in price by 2-3 times.

A simple procedure for obtaining citizenship

Investments in Turkish real estate gives the opportunity not only to issue a residence permit, but also to obtain citizenship under an accelerated procedure. This attracts many foreign investors. In June 2022, the conditions for obtaining citizenship have changed, or rather the minimum value of investment has increased.

Now you must buy real estate for a total value of $ 400 thousand cadastral value (previously the amount was – from $ 250 thousand) or live for 5 years in an apartment, the cadastral value of $ 75 thousand.

Despite the active growth in prices, we will choose the best option for you and take care of the comfortable conditions of its purchase. We work directly with developers, so we can negotiate a discount or individual installment plan for you.

We will gladly make your dream come true.

Автор Semyon Tereshchenko

Real Estate Expert

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