I N V E S T M E N T I N A L A N Y A

Turkey is a beautiful diverse country which offers the holiday maker an abundance of sun, sea, mountains and lakes and has an ideal year round climate.

Whatever your chosen holiday activity – sunbathing, sailing, golfing, skiing, swimming, diving or exploring Turkey’s magnificant past, there is something for everyone.

This is an ideal country for a holiday home and there are numerous reasons for buying your property here in Turkey, apart from the affordability; low cost of living; capital appreciation and good rental returns there are also other numerous reasons to purchase in Alanya :

v 333 days of sun every year

v One of the largest ‘villages’ of the world

v English is spoken almost everywhere

v One of the warmest and safest places of Turkey

v Alanya has the fastest land register completion period in the whole of Turkey

v Approximately 20% increase per year in the value of real estate

v Most Europeans live in Alanya – already more than 15,000 have purchased property here in Alanya

v The region around Alanya has many more interesting developments on the way

v Two new yachting marinas are being built

v A new airport is being built 30 km from Alanya

v A new motorway from Antalya is nearing completion

v Very reasonable property prices when compared with Spain and other Mediterranean countries

v Fantastic location between the Mediterranean Sea and the Taurus Mountains

v Modern network of roads

v Fresh fruit and vegetables all year round

v Delicious Turkish cuisine

v International fast-food centres eg. McDonalds, Burgerking etc.

v Large stores such as Metro Cash and Carry, Migros and Makro etc.

The wider world is finally realising that Alanya has so much stacked in its favour as a most desirable place to holiday, live or retire. Along the southern coastline the lifestyle achievable in Alanya is enviable, the climate is glorious, the cost of living is highly affordable and the population is friendly, hospitable and welcoming, meaning Alanya is a great place to invest in for consistently increasing opportunity.

The property market in Turkey is miles behind that in the likes of established Spain or even emerging Bulgaria. The lack of mortgage availability has significantly restricted the expansion of the market in terms of meeting demand and stretching affordability and so property prices remain affordable. Mortgage law is already changing for the better, additionally larger developers are offering gearing opportunities to investors with staggered stage payments beyond the construction period available - and so suddenly there is financial buoyancy in a market ripe for expansion suggesting prices could now rise in a sustainable way.

The Turkish economy is doing quite nicely thank you! And local Turks are becoming wealthier in relative terms meaning that along with the availability of mortgage products for local citizens, local affordability is going up meaning house prices can and will follow.

Turkey’s relations with the EU are generally improving. A few giant leaps forward in recent years have been followed by a period of stagnation - however, there is no stopping the internal economic, legal, social and political reforms that are happening to ensure Turkey is best aligned for EU entry when a complete invitation is received. This positive development has led to an increase in foreign direct investment commitment in Turkey which bodes exceptionally well for the future economic advancement of the entire nation.

There is massive local demand for housing stock. Unlike in the UK, US, Germany and in Turkey’s neighbour Greece, Turkey’s population majority is actually getting younger rather than aging as birth rates soar; in addition to this fact, over half the population is housed in sub-standard accommodation at a time when almost universally affordability is improving meaning that this fact, coupled with the aforementioned mortgage related data creates enormous domestic demand for real estate presenting an investor with uniquely profitable potential.

The largest known property demand base is tourism related and this covers those buying now to retire later or buying now for holidays as well as those seeking villas or apartments for short term holiday lets. An investor seeking the broadest choice of tenant or buyer as well as the broadest choice of location and property type should consider servicing the tourism related demographic in Turkey.

Property in Turkey – Positive Factors and the Potential

Politically and economically speaking Turkey is changing for the better; additionally a potential EU entry schedule could mean already strong foreign direct investment commitment soars. The tourism market in Turkey is established and has remained robust even in the face of relatively recent shakes and shocks…it is supported by good and improving infrastructure, decent levels of affordable accessibility and stunning natural assets including scenery and climate.

There are no excessive restrictions on foreign ownership of property; transaction costs and taxes associated with buying owning and profiting from property are relatively modest. Demand for property in Turkey is growing among local and international buyers, mortgages are becoming increasingly available and the red tape and legislation involved in property transactions is easing.

Currently property stock remains affordable but there is a wealth of positive factors leaning in favour of property prices rising alongside demand creating long term profit potential for investors who buy in now.

In conclusion, to say that all property markets abroad will crash if and when Spain’s market comes tumbling down is incorrect. Many markets run independently of the Spanish model, many are at a very different point in the global market cycle and other locations like Turkey just have so much obvious appeal and on the whole low, low prices that they really do represent a great opportunity right now.

The lively and beautiful Eastern Mediterranean resort of Alanya in Turkey has long been a popular holiday hotspot with those from Northern European countries such as Germany, Denmark and the Netherlands - and now the number of British and Irish holidaying and buying property in Alanya has begun increasing as well.

It’s fair to say that property sales to foreigners have shot up - so much so that the local construction industry relies on foreign sales for the vast majority of business nowadays –in a recent article in Today’s Zaman (Turkish newspaper) it was reported that around 20,000 foreign property sales have been finalized in Alanya since circa 2003 alone. And so in this article we examine why property for sale in Alanya in Turkey is so popular to help you decide whether it’s a location that suits you.

The resort of Alanya seems to have it all: it is affordably accessible year round with Antalya airport just ninety minutes away by car or regular bus service, it has year round life where as many other resorts in Turkey seem to dry up in the winter and become deserted and devoid of any entertainment or nightlife, it is a stunningly beautiful location which enhances its natural assets with everything from a dramatic and imposing castle to a pretty harbour area, and finally the combination of blue flag beaches, great shopping, fine dining, a perfect climate, friendly local and expat communities and exciting and varied nightlife means that Alanya is a resort that ticks all boxes for many, many people.

Apartments for Sale in Alanya, Turkey

Alanya is located about 90 minutes drive away from the large international airport at Antalya which serves the entire Turkish Riviera region. As a result Alanya is an easy to reach destination and very popular with British, German, Dutch and Scandinavian holidaymakers.

During the summer months the beautiful resort of Alanya is packed and there is great demand for short-term self-catering rental accommodation and as a result apartments for sale in Alanya are very popular currently with property investors looking at the Turkish real estate market.

Turkey is a country covering some 780,000 square meters with resorts all along its 7,200 square meters of Mediterranean, Aegean and Black Sea coastline. But one of the prettiest resorts and one with an incredible wealth of history that is a timeless draw to thousands of people annually is Alanya on the Mediterranean Coast in South East Turkey.

Alanya is possibly most famous as the honeymoon destination for Cleopatra and Mark Anthony. It is a town steeped in ancient and fascinating history but one that only got its current name back in 1934 when Turkey’s then President Ataturk renamed it from Alaiye to Alanya. The summer season in the resort runs from April to October and every year it attracts more visitors as it grows in popularity, therefore property investment in this region can be considered to be very worthwhile.

Investment Properties in Alanya, Turkey

Recent positive changes to the legislation relating to foreign freehold ownership of real estate in Turkey have put an end to the recession that the Turkish property market had endured since 2001.

The changes made have translated into significant price increases which are starting to proliferate countrywide but which started in the most popular areas for investment properties in Turkey, namely along Turkey’s southern coastline. Here prices increased between 28 and 50% during 2004 alone.

If you’re considering buying investment property in Alanya or would like to know more about why buying in Alanya right now could offer you strong long term investment potential, here are our top 10 reasons : -

1) The Turkish Riviera enjoys up to 333 days of unadulterated sunshine every year which makes the area an international tourist destination hit. Tour operators have increased their exposure to Turkey and in return Turkey has responded by developing some world class resorts offering stunning holiday opportunities that are proving particularly popular with European travellers. As a direct result the demand for short term rental accommodation in summer holiday hotspots is on the increase and rental yields are also on the increase meaning a well positioned investment property will offer great buy to let potential.

2) Turkey is positioning itself for acceptance for EU accession. It is a long and slow process but it does mean that the Turkish government is working hard to bring their laws, standards and ‘ways’ in line with those of other European countries. This standardization makes for a comfortable transition into Turkey for businesses, expatriates and investors and increases the potential for inward foreign direct investment which is positive for Turkey’s long term economic success.

3) Buying investment properties in Turkey couldn’t be simpler. If you’re resident in a country in which Turkish residents are free to purchase freehold property then you’re free to buy in Turkey. The buying process follows very traditional rules with a preliminary contract signed upon price agreement, a non-refundable deposit made upon condition that all surveys and searches are satisfactory, and a final contract signed before title deeds are transferred. The simplicity of the buying process is a pleasant surprise for many buyers and increases the attraction of the country for investment purposes.

4) The number of airports and a good road network in southern Turkey means that the entire area is very easily accessible internationally which means that tourists can come and go easily increasing the demand for short term accommodation. It also means it’s easy for investors to have access to their investment properties.

5) The majority of the new developments being built specifically for property investors and second home buyers in Turkey are being built to meet European building standards and regulations. This gives the investor confidence in his purchase.

6) Serious crime and crime against property and the individual are very low in Turkey meaning that an investor and his assets are safe and secure - unfortunately this is certainly not the case in the currently popular eastern eight emerging markets and it is another reason to consider Turkey over and above countries like Poland, Bulgaria or the Czech Republic.

7) The cost of living in Turkey is far lower than in any other European country and yet the quality and availability of produce is incredibly high. As Turkey has a massive manufacturing base all everyday household products, furnishings, fixtures and fittings can also be sourced cheaply and relatively easily.

8) English is widely spoken in the major resorts, towns and cities in Turkey and it is also the country’s international business language. This makes doing business in the country that much more simple and also adds to the appeal of the country for international travellers.

9) The Turkish national and local governments are well aware of the wealth of history and culture that their country has and are keen to preserve the country’s natural assets from over development and ruin, therefore they have very strict planning and density rules when it comes to property development which help to maintain the country’s beauty and its unique qualities and attributes. This means that investment properties will be built sympathetically and that they will never be surrounded by mass density housing blocks at some point in the future.

10) As stated, Turkish property prices are rising consistently - however, as a direct result of the recession in the housing market earlier this century house prices in Turkey remain intrinsically low and have a lot of ground to make up. By buying now you will be buying into that projected period of inflation, you will also be benefiting from the future predicted buoyancy and interest in the market sparked by Turkey’s growing appeal and attraction for global investors and visitors. These facts point to a long term sustained period of capital appreciation and also to the fact that you can likely benefit from strong rental demand and increasing rental prices making a buy to let investment in Turkey also highly attractive.

Whatever your personal reasons for considering buying a property in Alanya you can rest assured that the market offers some fantastic real estate for sale and some great opportunities to profit from rental income and increased underlying property value.