Taking into account that an average metric area of a three-room-apartment is 120-140 square metres, the cost of a square metre of an apartment with a view over the Mediterranean Sea is around 700Euro. Doesn’t it sound unbelievable? But it’s true! While prices in Moscow are five times higher than in Berlin and an apartment in Warsaw is more expensive than in Stockholm, Vienna or Prague, the prices of properties in Turkey are very attractive.
Anyone who had the opportunity to see the standards, at which buildings in Turkey have been built in the past few years, knows that what in Europe is called a luxurious apartment, here is defined as a flat.
The metric area, quality of the finishing materials, bathrooms equipped with a jacuzzi and a living room with a view of the sea, this is just the beginning of the list of features describing apartments here. To add, the residents of the newer building complexes have at their disposal facilities such as: tennis courts, pools beautifully integrated into a garden, handball and football courts, Turkish baths and saunas as well as gyms.
The cost of using all the facilities integrated with the payment for the building administration and maintenance of the common area is around 40-50 Euro per month. Why investing in a property situated on the Turkish Riviera is one of the best decisions? The answer is obvious to The English and Scandinavians because throughout the past few years they are the most frequent purchasers of the local properties. Until now more than 19,000 English, a few thousand Finnish and Norwegians have purchased houses and apartments by the Mediterranean Sea.
Why did so many foreigners decide to buy an apartment on the Turkish Riviera? Is it just because of longing for the Mediterranean sun? Or maybe a well thought out calculation! How else can you explain a purchase of a 120-square metre-apartment, situated just a 5-minute-walk away from the beach, renting which in the season (May-October) generates a fair monthly income. A wise investor knows where and when to invest. The Norwegian who spent 35,000 Euro to buy a duplex in a newly built building complex three years ago, could currently sell it at a four times higher price. The English, who invested 50,000 Euro in a 1+1 apartment situated by the sea while waiting to get Tapu (title deed) is guaranteed to find tenants for the summer season and benefit from renting.
A marriage from Cracow, who at the end of April invested 68,000 Euro in buying an apartment in one of the most beautiful building complexes also realizes that it was a wise decision.
Of course you can come here as a tourist, spend one or two weeks deriving pleasure from everything that the Turkish Riviera may offer and in winter recall the memories of hot sand on the Cleopatra Beach. However, you can take advantage of all these things while being a rightful owner of an apartment situated close to the beach, golf courses, or ski slopes.
Every year the number of tourists visiting Turkey is getting higher and higher. Of course there are hotels offering all-inclusive stays at a very reasonable price, but there are still people who value intimacy and independence, so they choose to rent an apartment and they are potential customers to wise investors. Why is the region of Alanya so attractive to the new owners? There is the famous Cleopatra Beach, the impressive hill with fortifications, caves with a unique microclimate beneficial to asthmatic sufferers, lively oriental streets, bustling with life town centre… this is how all the travel guides describe Alanya.
However, Alanya except for all these attractions is also a place with a high investing potential. The newly open airport, just 45km away from the Red Tower, positive changes in the town’s infrastructure, international and local projects being carried out - this is why it’s worth considering. Until now Turkey was associated with the warm sea, unforgettable views and exquisite cuisine, but a careful analysis of the real estate market, should broaden the scope of our interest in this region of the world.
Sunlight Estate as a licenced broker in Alanya will be more than happy to share our experience and help you to carry out your investment ideas.