Alanya is a prime destination for real estate investment due to a multitude of factors making it attractive to foreigners.
Here are reasons to buy property in Alanya:
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It is affordable. Turkey’s Central Bank claims that property prices in Alanya have remained stable and affordable when compared to many other Mediterranean regions. Average prices are lower compared to Istanbul and Bodrum.
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The rental market is strong. Whether you want to buy a home for yourself or plan to rent it out, Alanya seems like a perfect choice. Estimates for rental yields vary from 5% to 8% depending on factors such as location, property, and available amenities.
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Infrastructure development. Alanya is a target of massive government spending evident in improved healthcare, public transportation, roads, and other public amenities.
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Diverse property options. Depending on your preferences and goals for living in Turkey, you can buy property in Alanya after combining a rich catalog of options including luxurious villas, townhouses, beachfront apartments, and more.
Note that the growing tourism sector is another reason to consider investing in real estate in Alanya. With the expected influx of tourists during the next decade, owners of rentable properties will benefit greatly from the growth of the tourism industry. Additionally, one of the reasons to buy property in Turkey is that real estate by the sea is always liquid and constantly increases in value.
Location, climate, and cultural heritage: reasons to buy property in Alanya
Alanya has a prime geographical position in the Mediterranean Sea. Thanks to its close proximity to the Taurus Mountains and the coastline, the region offers plenty of entertainment and leisure options while remaining an important economic, political, and social hub for southern parts of Turkey.
Alanya is often mentioned as a perfect destination for retirees and digital nomads looking for perfect weather conditions. Additionally, Alanya is an ideal place for mothers and families with children, as well as those who adhere to a healthy lifestyle. In summer, the air is dry and temperatures rise to 30. Winters are mild with thermostats rarely descending below 15. The average local temperature is roughly 19.6.
The culture of Alanya is worth experiencing. There are several factors that make it so memorable and significant:
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Ancient origins. Alanya’s history goes back to antique times with experts dating it close to the Hellenistic period when it was known as Coracesium, a hugely important port city. It became a strategic naval base for the Byzantine Empire. By the 13th century, it became a regional powerhouse under the rule of Sultan Alaeddin Keykubat.
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Treasures for archeologists. The local museum houses a rich selection of various artifacts native to several hugely influential historical periods in the history of Alanya. You can find items and documents from the Ottoman and Byzantine Empires as well as more recent eras.
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Festivals and cultural events. The city of Alanya is famous for its huge celebrations of different aspects of its heritage. The International Culture and Art Festival and Alanya Jazz Days are excellent showcases of the artistry and diversity present in the city’s contemporary ecosystem.
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Sports events on a regular basis. Most often it is cycling.
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Authentic cuisine. Due to its multicultural past, Alanya has a diverse and vibrant food scene with dishes like sis kebap, manti, and baklava dominating. Seafood, baked goods, and more come in all shapes and forms.
Why you should buy property in Alanya
Real estate in the region is recognized as an excellent destination for investment.
Many factors make it a great choice for capital allocation:
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Accessible prices. The entry barrier is much lower compared to Istanbul and Bodrum, not to mention many European cities. The Turkish Statistical Institute states that average prices per square meter are close to 60.615 TRY.
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The influx of foreign capital. At the moment, sales of properties to foreigners in Turkey are on an uptrend. The year-to-year growth of units sold to foreigners in Alanya and Antalya recorded in 2022 was 15.2% according to Statista. The trend did not go away during the following years with the number of units sold to “outsiders” growing steadily.
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The rental market. Alanya is a popular tourist destination for 3.7 million domestic and international visitors annually. According to experts, rental yields range from 5% to 8%. The number fluctuates depending on various factors like the type of property and available amenities.
Alanya enjoys close attention from the government which invests heavily in the local infrastructure and public services. Turkey, in general, is quite welcoming toward foreign investors and expatriates seeking residence. The legal framework for transactions and local regulations make the region attractive to all people who want to buy property in Alanya.
Living a vibrant life in Alanya
The city offers a wide range of different recreational activities to people who desire some excellent leisure time. Water sports including scuba diving, jet skiing, and parasailing can be enjoyed on most beaches. The proximity to mountains and the seaside allows for memorable hiking experiences.
Residents and guests are welcome to visit massive cultural events, partake in golf games, or enjoy sunbathing. Alanya is also known for outstanding public services like universal healthcare, education, and transportation.
The main takeaway
It is hugely important to work with professionals when shopping for real estate properties in Alanya. STAY PROPERTY has projects in all popular districts of the city including the Alanya Center, where the Red Tower and Alanya Castle attract thousands of tourists, Mahmutlar with its family-friendly environment, Oba, the most european part of the city, and Kargicak with its picturesque vistas and proximity to the coastline!
Specialists at STAY PROPERTY are always ready to answer all inquiries from you. We provide exhaustive consultations and legal guidance as well as many other services to people who want to buy property in Alanya. Call us right now and find the property of your dreams.