An investment for the future Alanya Turkey

When you as a tourist arrive in Alanya you might wonder why there are so many half finished buildings in the area – buildings where the construction work seems to have stopped.
Many believe that the reason for this is that in this way the owners can avoid paying property taxes. This is not correct though. In Turkey tax is paid as soon as you move in.
There are several reasons for the many half finished buildings:
1: From May until October it is prohibited to build in tourist areas. This is to avoid noise which might bother the tourists.
The construction of a building is often not finished in only one winter. Alanya is under constant development and the construction of new buildings is started every year.
2: Many Turks build their own houses. Building materials however are pretty expensive and a bank loan is not an option because of the high interest rates.
This means work ceases on many buildings for a while until there is money for the next phase.
The high interest on loans is caused by Turkey’s inflation.

It has become quite an attractive proposition to buy property in Turkey. The reasons for this are many and various: Good climate, a hospitable people, beautiful scenery and not least the favourable prices. For example an attractive apartment close to the beach and city can be bought for under 50,000 Euro.
This property is also an investment for the future. If we take a look at the development in countries such as Spain and Greece, we can see that prices throughout the last 15 years have been continuously increasing. This same development could happen in Turkey. It can be seen already in the price increases on properties in Alanya in recent years. Turkey´s expected entry into the EU might also increase property values.
In Turkey foreign citizens are allowed to own property. That is why they do not encounter problems like those found with time share projects or projects with flats under a multi-ownership scheme. Once you have signed for and received the deeds(tapu), you are the official owner of the property and you can do whatever you like with it.
The paperwork involved in a property deal here is unique. Many parties have an interest. For example, the military authority should approve the deal. These endorsements are only a formality and normally the estate agent arranges them without the buyer's involvement.
The Turkish interest rates are very high. For this reason it is not recommended that you fund your purchase with monies raised in Turkey. It will become too expensive. All the financing should be arranged in your home country. Your estate agent should be able to advise you on this.
It is also worth mentioning that there are some unauthorised estate agents. They are focused solely on a quick way to earn money rather than doing a fair trade. Make sure that you are dealing with a professional estate agent in whom you have confidence.

Good luck in your quest for your dream property in Alanya.

                  The Turkish Property Market

Turkey is a beautiful, divine, exciting country full of opportunities. This has gradually been discovered by the many visiting tourists whose numbers have been increasing by 10-15 percent each year. In the last few years more and more northern Europeans have also chosen to invest in real estate in Turkey.
A few years ago the rules governing foreigners buying property in Turkey were relaxed and since then interest has increased dramatically. The reason for this is simple: the prices are very attractive especially when compared to similar properties in France, Italy or Spain.
Price increase
In conjunction with the increasing interest for properties, the prices have also increased and for most properties this has been by 20-40 percent per year. This may sound unbelievable but it is nonetheless true and all the signs are that it will not stop there. The interest of foreign media in Turkey has never been greater. The papers write almost daily about the Turkish property market and several larger nationwide TV-stations have programmes about buying property in Turkey.
The fact that Turkey has received a date for starting negotiations for membership of the European Union also affects the ever increasing interest in property investment in the country.
Quality and construction requirements
In 2001 Turkey introduced strict legislation for new constructions. The requirements are fully comparable with European standards and ensure that both materials and building methods are improved. Constructions are built earthquake safe although Alanya is situated in one of the areas in Turkey with the lowest chance of earthquakes. The builders not only build and design to European standards now but also take into consideration the requests of many European buyers especially with regard to large balconies and sea views.
The Mediterranean town Alanya
Alanya is definitely one of the most popular investment areas in Turkey when it comes to holiday homes. There are many reasons for this. Alanya has the charm of a small Mediterranean town but offers some of the many advantages of a larger city - good flight connections throughout the year, excellent shopping opportunities and a large and varied selection of restaurants.
The locals show great kindness and hospitality and give a friendly welcome to the newcomers. When you also take into account the good weather with more than 300 days of sunshine and the warm Mediterranean – there can be no doubts left – Alanya is certainly an attractive place to buy property.