Alanya: the perennial favourite

"Foreigners own the most housing in Alanya," Yavuz Donat, editor-in-chief of one of the most prominent media outlets in Turkey, Sabah newspaper, talks about the situation at the resort. They rank first among foreigners buying real estate in Turkey.

Alanya, the pearl of the Mediterranean, has long been a favourite place for foreign investors to purchase houses and apartments in Turkey. Over 50,000 foreign residents legally live here with a residence permit, and 27,000 own local properties.

Alanya offers various housing costs, influenced by the area's location and the internal facilities of the residential complex. Prices for two plus one sea view apartments in development projects in Turkey begin at TL 3 million (USD 87,000) and go up to TL 10 to 15 million (USD 291,000 to USD 437,000). Coastal apartments in prestigious areas featuring three bedrooms (three plus one) with a size of 150 square metres attract buyers, even at TL 42 million (USD 1.2 million).

The demand is driven by tourists, as there are insufficient hotel rooms during peak periods and few rented apartments.

Content:

• Statistics of last year
• How are things going in 2024?
• Current prices
• Here are the figures for specific quarters:

Statistics of last year

The number of properties held by foreign owners in Alanya was 3,496 in 2003, 7,249 in 2005, 9,331 in 2006, 12,832 in 2007, 14,406 in 2008 and 17,000 in 2009.

Approximately 25% of foreign buyers who purchased real estate in development projects in Turkey chose Alanya in 2019. 23,045 buyers (in sole or shared ownership) were registered.

Last year, 100,623 foreigners purchased houses in Turkey. Nearly a quarter of them (22.9%) selected Alanya again.

Since 2022, Russians have consistently been the leaders in purchasing off-plan properties for sale in Turkey. Antalya province (where the Alanya resort is located) has overtaken Istanbul as the leader in apartment sales.

Antalya ranked first in the list of provinces favoured by foreigners to buy properties in 2023, with 26,202 housing lots sold ahead of Mugla (12,605) and Aydin (10,401) during that year.

How are things going in 2024?

It is too early to summarise the year's results as only three quarters have passed, but based on the statistics we have so far, the Russian Federation has once again emerged as a country whose citizens have acquired many properties in Alanya.

Russians purchased 1,136 properties at the resort in the first six months of 2024, with 167 transactions in June alone (Ukrainians ranked second, acquiring 60 properties). This figure represents 2,247 units sold to international investors over a six-month period, indicating that Russians represent a significant client group in the Alanya real estate market.

Simultaneously, analysts have been recording increased demand from citizens of other countries since the spring of 2024.

Durmuş Özgen, the owner of Trust United Emlak, indicated that considering the statistics gathered by his company, Europeans who were scared off by the outcomes of military actions (between the Russian Federation and Ukraine) are returning. The results of the spring elections played a role in this. There was a noticeable rise in the number of housing search queries in Alanya, and transactions were recorded just the day after the elections were announced. The specialist said the rental market will settle down shortly, with property prices stabilising.

Additionally, it is worth mentioning that this is an especially favourable time to purchase properties as apartment prices in Alanya have decreased.

Current prices

• As of the end of September 2024, the cost of houses in Alanya increased by 9.34% over the year (in dollar terms).
• The average price per square metre is USD 1,355.
• The highest/lowest price per 1 square metre is between USD 858 and USD 2,488.
• The average price per unit of housing is USD 149,038.
• The average area of one housing lot is 110 square
• The average return on the investment period is 24 years.
• The fastest-growing districts of Alanya are Güller Pınarı, Kadipaşa, Konaklı, Tosmur and Şekerkhane.
• Sugözü, Payallar, Çiplaklı, Saray and Çarşı are the slowest to increase value.
• The fastest-paying areas (in terms of housing costs) are Büyükhasbahçe, Güller Pınarı, Kadıpaşa, Fığla and Konaklı.
• The districts with the most extended return on investment are Dinek, İncekum, Tepe, Küçükhasbahçe and Sugözü.

Here are the figures for specific quarters:

If you want to buy an apartment cheaper, we recommend looking at Avsallar and Payallar.