Real Estate Sales and Rentals in Alanya

Alanya, with its natural beauty, historical texture, mild climate, and modern living amenities, is one of Turkey’s leading regions for international real estate investors and buyers. The interest of foreigners in the real estate market in Alanya has increased over the years. There are many reasons why foreigners, especially from Europe, Russia, and the Middle East, prefer Alanya.
In this article, we will discuss the real estate sales and rental process for foreigners in Alanya, the legal procedures, and the trends in the market.

Reasons Why Foreigners Prefer Alanya

1. Climate and Natural Beauty:
   The year-round sunny weather, the turquoise waters of the Mediterranean, and the breathtaking views of the Taurus Mountains are some of the most important factors that make Alanya attractive to foreigners.
2. Cultural Diversity:
   Alanya has an international structure. Many foreigners have settled in the city, which makes it easier for newcomers to feel at home.
3. Real Estate Variety and Price Advantage:
   Alanya offers a wide range of properties, from luxury villas to sea-view apartments. Moreover, prices are more affordable compared to European countries.
4. Turkish Citizenship Opportunity:
   Turkey offers foreigners the opportunity to acquire Turkish citizenship when they invest in real estate worth 400,000 USD or more. This is another key factor encouraging foreigners to invest in Alanya.

Real Estate Sales Process for Foreigners in Alanya

The process of purchasing real estate in Turkey for foreigners is subject to certain legal procedures. It is crucial to work with a professional real estate consultant during this process.

1. Property Selection and Research:
   • Identifying properties that meet the needs of the foreign buyer.
   • Checking the title deed and the legal status of the selected property.
2. Pre-Agreement and Deposit:
   • Agreeing on the price and payment terms between the buyer and the seller.
   • A deposit payment is made to confirm the agreement.
3. Valuation Report:
   • A valuation report approved by the Capital Markets Board (SPK) is required to determine the actual value of the property for foreign buyers.
4. Title Deed Transactions and Purchase:
   • Sales procedures are completed at the Land Registry and Cadastre Directorate (Tapu and Kadastro).
   • The buyer pays the property price in Turkish Lira, and the title deed is registered.
5. Residence Permit and Citizenship Process:
   • Foreign buyers who purchase property may apply for a residence permit. The citizenship application process applies to purchases above a certain investment amount.

Real Estate Rental Process for Foreigners in Alanya

Foreign tourists and expatriates frequently prefer short-term or long-term rental options in Alanya.

1. Short-Term Rentals:
   • This type of rental is generally used for vacation purposes and can be daily or weekly.
   • Platforms like Airbnb are commonly used for these rentals.
2. Long-Term Rentals:
   • Preferred by expatriates and foreigners who live in Alanya year-round.
   • It is important to have the rental contract notarized during this process.
3. Consultancy in the Rental Process:
   • Support is provided for preparing rental contracts, deposit procedures, and the transfer of electricity/water subscriptions.

• Rental Income:
  Particularly in short-term rentals, there is high potential for earnings.
• Return on Investment:
  Alanya offers capital appreciation due to its growing real estate market.
• Convenient Living:
  The city provides well-developed social services, healthcare, and transportation infrastructure for foreigners.

Demand for Real Estate from Foreigners in Alanya

1. Areas of Interest:
   • Mahmutlar: Mahmutlar, one of the most preferred areas in Alanya, offers affordable apartments and luxury residences for foreigners.
   • Oba and Cikcilli: Known for modern projects and proximity to the city center, these areas are also popular.
   • Kargıcak and Kestel: These areas are ideal for luxury villas and residences with sea views, surrounded by nature.
2. Who Is Investing in Alanya?
   • European Countries: Retirees and investors from countries like Germany, Norway, and Sweden.
   • Russia and CIS Countries: Buyers from Russia, Ukraine, and Kazakhstan show great interest.
   • Middle Eastern Countries: Investors from Saudi Arabia, Iran, and Iraq usually prefer luxury villas.
3. Sales and Rental Demands:
   • Buying: Sea-view apartments, detached villas, and modern residences are in high demand.
   • Rentals: There is significant demand for short-term vacation rentals and summer homes.

Special Considerations for Selling Real Estate to Foreigners in Alanya

1. Legal Status and Title Deed Procedures:
   • Foreigners can purchase real estate in Turkey. However, property purchases in military zones are prohibited.
   • Title deed transfer is carried out at the Land Registry Directorate.
2. Tax Number:
   • Foreign buyers are required to obtain a Turkish tax number, a process that is completed quickly.
3. Citizenship Opportunity:
   • Foreigners who invest 400,000 USD or more in real estate are eligible to apply for Turkish citizenship.

Real Estate Rental Process for Foreigners

1. Short-Term Rentals:
   • Short-term rentals, especially during the summer months, are quite popular via platforms like Airbnb.
   • In tourist areas, sea-view apartments or villas with pools provide high rental income.
2. Long-Term Rentals:
   • Foreign retirees or workers living in Alanya show interest in long-term rentals.
   • Fully furnished apartments are particularly favored by foreigners.
3. Legal Requirements:
   • When renting to foreigners, rental contracts must be clear and detailed.
   • For short-term rentals, daily rental income must be declared for tax purposes.

Advantages in Real Estate Sales and Rentals for Foreigners

1. Climate and Natural Beauty:
   The year-round warm climate and coastal living of Alanya make it especially attractive to investors from Europe.
2. Affordable Costs:
   Compared to other European countries, Turkey has lower real estate prices.
3. Return on Investment:
   Properties in Alanya provide high rental income and long-term value appreciation due to strong tourism demand.
4. Turkish Citizenship:
   Real estate investments above a certain amount are seen as a pathway to Turkish citizenship.