During the first year of putting an apartment for rent in Alanya, you can expect up to a 10% return per annum in €. After, it is more if the apartment has competitive advantages, develops its clientele for re-occupancy, and has recommendations.
How to choose profitable real estate, how to rent it, and who will be in charge of all these if you are not living in Turkey? Below in the article, we will briefly cover the questions for potential investors. How to choose a location
The most luxurious complexes with spacious inner territories and diverse infrastructure are now built far from the sea. For the old stereotypes about rent profitability, it is considered far, which means everything behind the first and second lines, farther than 1 km from the sea. In current realities, when there is no land in the popular districts next to the sea or its price is unacceptable for the developer, new complexes are built 2 and 3 km away from the beach. The issue is solved with a transfer from the complex to the sea throughout the day. For tenants, it is more convenient than walking on foot under the boiling sun, even for 5 or 10 minutes.
Apartments in the center of Alanya, in Kleopatra, lower districts of Oba and Tosmur are rented at high prices. However, there are not many new developments and the secondary housing is in shortage.
Mahmutlar is a top district by daily rent. There are many constructions and the demand for resort homes is unchangeably the highest. Given the closure of the district for the issuance of residence permits, the prices were not growing as rapid here as in the still opened for permits districts. There is a good opportunity for buying an apartment for rent near the sea in a good complex, favorable location, and at a reasonable price. Mahmutlar is famous for its well-developed and abundant infrastructure; it will always be profitable to buy an apartment for a passive income here.
There are many high-quality projects in attractive for investments districts, which are developing in terms of construction and infrastructure. Among such districts are calm Demirtas, touristic Payllar and Konakli.
Best beaches for family recreation are located in green Avsallar and Incekum, suburbs of Alanya, but quite attractive from the touristic point of view. There is everything one would want for: beautiful nature, seashore without stone slabs. The prices in Avsallar are still considered among the most affordable ones.
Apartments for rent for the most attractive prices today can be found in Gazipasa, where the airport is located. Only 5-10 minutes from the airport and your tenants are at your residence. The beaches in Gazipasa are wide, there are many beautiful places, lagoons with pine treas among the cliffs. Restaurants, shops, markets, services, and salons are located in the city center. But this is more of a simple Turkish city rather than a touristic one. And this is its special charm.
Invest into a construction or buy ready for move-in secondary property
Property on the secondary market is attractive to buy for rent; it has a high price, but there is an evident shortage of offers in the market. It is more profitable to invest into new projects at the excavation stage. After the commissioning of the complex, the apartment will go up in price by 15 to 30% depending on the location and the level of the project. It can be assumed that you have already earned this pleasant amount and within only 1 to 2 years of construction. With ready-made high-quality housing, you will simply have rental income, it will not rise in price so significantly.
How to put out an apartment for daily rent
To do so on your own is practically impossible. According to the law, one needs a license and registration of the tenants for that. It is, though, possible, in theory. But it is easier and more reliable to have your property managed. Especially, if you do not live in Turkey and will not be searching for tenants, checking them in and out and control the situation. These all are the concerns of the management company. You will have understanding of the anticipated income in advance, but a lot depends on the management company itself.
All apartments are different
The range of apartments available for rent in Alanya is enormous. It is no longer popular to rent a bunk bed 'just to be next to the sea'. Tenants are now accustomed to a particular level; an apartment should have everything. Furnishing a new apartment is not a problem. There is an after-sales service that takes care of everything, including china. The only question is the price - how much a buyer is ready to pay for complete furnishing, appliances, decor, and textile.
Big complexes divided into several buildings are more advantageous, as their infrastructure will certainly work; there are many residents and many apartments for daily rent. Therefore, everyone is interested in the pool being full, sauna heating, and hammam pleasing the eye and not being unusable. A more complicated situation may be in the complexes where apartments are few and not all residents are ready to pay a high aidat for the infrastructure maintenance. For rent, it is better to consider luxurious residences which are originally aimed at it. There are many such options in our catalog for new projects, ready new developments, and secondary real estate.
Some big projects provide property management for rent from the outset, the system is well-established, and there are additional services such as cleaning, car rent, dry cleaning, laundry room, and others.
! In smaller houses and sieves, it is necessary to verify from the beginning whether daily rent is allowed at all. If homeowners for the most part are Turkish citizens, they may prohibit the rent based on the decision of the general meeting.
How our rental department works
For our clients, we provide property management services for apartments put out for rent. Profitability in the first year is 10%. Over the time, the apartment will be earning more and more for you.
The minimum rent period is two weeks. Guests pay the rent amount, make a security deposit, which will be returned to them upon check-out on the condition that everything is in proper order. The property management company's commission, in case of short-term rent, is included in the price. There is also a one-time fee for cleaning service upon check-out, which is from 30 to €50 depending on the apartment layout. Electricity and water are paid according to the meter. For short-term rent, adat is paid by the homeowner.
Renting from 3 months or longer is considered long-term; the tenant pays the commission in the amount of a one-month rent payment, which is standard for Alanya.
All real estate is subject to an annual tax, the tax for an apartment in Alanya is 0.2% from its cadastral value in addition to a small payment for the mandatory earthquake insurance. You can find out more about other taxation related questions during a consultation.
Daily rent amount in Alanya depends on a number of factors. The minimum amount is €50 for a 1+1 apartment in a small residence. Apartment prices in Turkey in Alanya in 2023 is €85.000 for a 1+1 apartment in budget locations, from €100.000 in developed districts.
Stay Property is engaged in construction in Alanya. We have projects in 10 districts and a full real estate catalog of Alanya from other developers and for secondary real estate. Please contact us for a consultation.