Trends of the Turkish property market in 2023 and real
estate in Alanya

Behind a difficult period for the construction and real estate sales sector is a year of not only difficulties, but also new achievements. We hope that in the coming year 2023, Turkish real estate will still be of interest to foreign buyers as one of the reliable ways to save and increase your capital. Buying property in Alanya still remains one of the best investment options if you are one of those who plan to purchase foreign property.

Real estate market changes in Turkey

We will concentrate on the modifications that the Turkish government has previously signaled concerning the registration of Turkish citizenship for real estate investment.

  • The amount of investment remains the same – from $400,000. However, in 2023, only one lot can be purchased for this amount. Recall that earlier the legislation allowed people to purchase one or more properties and apply for citizenship under an accelerated and simplified procedure.
  • Restrictions also affected the so-called “equity acquisition”. Now it will not be possible to buy property, e.g., at a cost of $800,000 for two and apply for citizenship. Each applicant will have to purchase a separate lot.
  • The second news concerns the increase in January 2023 of the tax on residential real estate and land plots by 61.46%. This tax is not paid by those citizens who live on a pension and own one property with an area of up to 200 m². The rest of the owners are required to pay the tax rate within the time limits prescribed by law.
  • According to analysts, real estate sales will continue to grow in 2023. Regarding trends in the choice of location, it is expected that buyers will still give preference to the popular cities and resorts of the country – Istanbul, Antalya, Alanya, etc. Along with this, the geography of investors’ interests is expected to expand: new developing areas will join the demanded regions.
  • New compact and spacious apartments, penthouses in fully landscaped residential complexes with internal infrastructure, detached houses and villas with their own plot, garden, swimming pool, as well as liquid plots of land will remain the top sales properties.

Will the increasing devaluation of the Turkish lira affect the number of Turkish property buyers? Most likely not, especially among wealthy citizens. Since with rising inflation in 2023, buying a home can be a great way to protect your savings.

Real estate prices in Turkey in 2023 forecasts

The forecast for real estate prices in Turkey in 2023 is unambiguously similar for almost all analysts – properties will rise in price, perhaps at a lesser pace. In addition, the start of new construction projects is expected, which were postponed by developers due to rising prices for building materials.

Property in Alanya

Buying real estate in Alanya, whether it is an apartment or a villa, is a profitable investment in your future. The surge of tourists buying a house here for seasonal holidays and staying on a permanent basis is a natural consequence of the popularity of Alanya. With a thriving expat community and friendly locals, it’s only when you come here that you can really appreciate what the area has to offer and make the right choice.

Benefits of buying property in Alanya

The beautiful Mediterranean city is located in the province of Antalya and is known for its exceptional natural beauty and the Taurus Mountains. It is located on a peninsula and was a historical center centuries ago, evidence of which we find to this day.

The city is famous for its high standard of living, which is important when choosing housing.

Most often you will meet the following configurations of villas:

  • Detached villas – one-story, multi-story, with a garden and with or without a pool. Inside there are several bedrooms, a living room and spacious terraces outside. The windows offer panoramic views of the Mediterranean coast.
  • Townhouses – located on the outskirts of residential complexes, usually designed for two families. There is parking, an outdoor pool, playgrounds, and nearby small shops and beauty salons.

Apartments in Alanya are offered in several options:

  • Studio housing of different sizes. Studios are popular and often purchased for renting out.
  • Apartment with 1 bedroom (50-60 m2), kitchen, living room, bathroom. Additionally, there is a balcony.
  • Two bedroom apartments with a total area of 80-120 m2, located in secure residential complexes, where there is access to a communal pool, relaxation area and spa center.
  • The area of three-bedroom apartments varies between 100-220 m2. Several layout options are presented – free layout or with a separate kitchen. Usually such apartments have more than one balcony.
  • Duplexes are two-story apartments that are in particular demand among families. The spacious house includes a living room, kitchen, balcony and terrace.

Real estate in Turkey

Turk.Estate website can offer real estate for every taste and budget. Turk.Estate has made every effort to make your purchase of housing in Turkey as safe and comfortable as possible. Go over to the website and find out about the best offers on the market.

About the author

Malika Bowling

Malika is the author of several books including Culinary Atlanta: Guide to the Best Restaurants, Markets, Breweries and More! and the founder of Roamilicious. She is also a Digital Marketing and Social Media Consultant. Follow us @Roamilicious on Facebook, Twitter, Instagram, and Pinterest for the content not shared on the blog. And don't forget to subscribe to our newsletter (subscribe box below) and never miss a contest, giveaway or the latest must visit restaurant!