Russians are selling up in Antalya. The economic crisis in Russia has finally had a trickle-down effect on property in the Mediterranean city, resulting in a large drop of house sales to Russians - and the sell-off of a large number of homes which are being snapped up by opportunistic buyers.
Russians are selling their homes to shore up funds against the rouble, which has plummeted in recent months following sanctions against Russia from Europe and the US.
The resulting influx of resale properties onto the market has created a mini-boom in Antalya as buyers scramble to pick up the pieces.
Property Turkey director Cameron Deggin says the resale market in Turkey is “very healthy” generally and worth consideration for investors or lifestyle buyers.
“Some of the recent property that has entered the market is only a couple of years old, and is barely lived in. What we are seeing is a number of buyers from the Middle East and northern Europe taking advantage of the situation and buying these discounted and almost new build properties as investment and holiday homes.”
Deggin says the properties in the sell-off include homes that were bought purely as Antalya investment properties as well as holiday homes.
Cameron said much of the resale property is located in Konyaalti on the beach at Antalya. “This is a superb area for investment and rental as it’s very stylish and therefore popular with young city-dwellers who commute to their jobs each day.”
Antalya position sandwiched between mountains and sea means opportunities for new build developments are low, Deggin says. The geography, coupled with an influx of young professionals seeking career opportunities as the Turkish economy boomed, has seen steady price rises over the last 10 years.
“Antalya is like a smaller, Mediterranean Istanbul,” Deggin says. “It’s the economy-driver of the southern coast, with a fast-growing population and all kinds of new industries developing alongside the traditional agricultural and tourism mainstays.”
Turkey’s eighth largest city with a population of a little over a million, Antalya City is becoming recognised world over for less traditional types of tourism: international conferences, health tourism and sports.
“Diverse income earners mean Antalya’s economy is able to withstand the bumps and shakes annual fluctuations bring,” Deggin says. “This is why it’s always been a favourable place for investors.”
“The resale properties coming on the market create a small gap of opportunity for buyers, especially investors, to get a foothold in the best investment location on the south coast,” he says.
Four of the best resale properties in Antalya
Modern two bed apartment near Konyaalti Beach £68,900
Built in 2012, this resale apartment is modern and in top condition. Tidy communal areas and a shared pool mean you’re able to supplement your living space and enjoy an outdoor lifestyle.
This apartment is a couple of minutes walk from a dolmus route which can take you right into the Old Town of Antalya within 20 minutes, or into the central business district of the city.
Other units in this complex are let out to local professionals who commute into the city each day, and there is plenty of scope for year-round rental for an investor seeking to earn rental income on top of their capital gains.
Brand new apartments at resale price - £91,600
There are two resale apartments in this complex that came on the market as soon as the ink was dry from the initial sale.
With a clean modern design, open plan living and large balconies overlooking the mountains and the pool area, these apartments are some of the most desirable on Konyaalti Beach. Well built, with double glazing, central heating and air conditioning, the homes are ready to move into and ideal for investment or rental.
Communal facilities include landscaped gardens, a barbecue area, a gym and of course, the pool.
These apartments are extremely competitively priced as new builds. Check with us about discounts for a quick cash resale buy.
Sea view apartment in Konyaalti
Overlooking the dazzling Konyaalti Beach, there is one resale apartment available in this beautiful complex.
Generously spacious at 154 square metres, the apartment is large and open plan, with top quality fittings including a modern kitchen and climate control. Bathrooms have quality fixtures and there is even a Jacuzzi and sauna.
This modern apartment is part of a complex with top facilities, including a number of swimming pools and a fitness suite with a Turkish bath and sauna. There is even a bar and a restaurant for the exclusive use of residents. The apartment is a short distance away from Antalya centre and of course, just a few seconds’ walk to the beach.
This resale investment and lifestyle opportunity will not remain on the market for long. Call us and find out more today.
Sea view luxury on Lara - 294,000
With stunning views over the Mediterranean, and plenty of room for a family, this top notch 200sqm apartment on Lara Beach makes a dream home - or dream investment.
Presented as luxurious five-star hotel-style suite, the large apartment has four bedrooms - including a master suite with Jacuzzi - mean there is lots of space for everyone.
The luxury complex has a swimming pool, saunas, aqua park, restaurants, a gym and tennis courts - just like an upmarket hotel.
When you tire of a life of luxury, you can head into town in just 20 minutes by dolmus or car.
This resale property can easily fetch between 5-7% rental income each summer, or more if you are looking for a permanent rental opportunity. Coupled with 10 percent annual capital gains, this resale property is an extremely attractive prospect for anyone hoping to wisely invest their money in Turkey.
Deggin says interest in the hastily sold properties has created a spike in property sales. “Some of the properties are selling well under value, and we have seen a great deal of interest from buyers, especially from foreign buyers living in the area who already own well-performing properties.”
Anyone wanting more information on resale opportunities in Antalya can get in touch with Cameron here.
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