Foreign investors want to buy Antalya real estate
The Mediterranean resort of Antalya is no longer just a must visit for holidaymakers, but it is attracting numerous foreign investors who are searching for their own piece of real estate in this stunning seaside city.
Residential property sales in Antalya in 2019
According to data published by the Turkish Statistical Institute, in the first nine months of 2019 there have been 6,257 houses in Antalya brought by foreign investors, which equates to a year-on-year increase of 19%.
By the end of this year, if sales continue, they are stated to reach an all-time high of 10,000. Antalya has already reached their highest sales ever in the January to September period with sales to foreign investors as follows:
January: 601, February: 672, March: 626, April: 676, May: 850, June: 668, July: 764, August: 656 and September: 744.
Sales in Previous Years
In previous years foreigners purchased the following number of residential properties in Antalya:
2018 – 7,938 house sales
2017 – 4,707 house sales
2016 – 4,352 house sales
2015 – 6,072 house sales
2014 – 6,542 house sales
2013 – 5,548 house sales
Antalya is attracting attention from all parts of the world; however, this has really peaked in recent months with regards to investing in real estate. With extra promotions focusing on the area, every region in this city is attractive to investors and this could lead to even bigger sales figures.
Increased awareness in Antalya
An expert explained the reasons for the increased interest in Antalya is down to a number of different elements, stating that he believes that the increased awareness of Antalya combined with the fact that it is so much easier to get Turkish citizenship could be partially responsible for the increased interest in real estate. There has also been a large drive by real estate companies located in Antalya to bring homeowners to the city.
Further elements include how easy it is to get transport in and around Antalya, and the additional tourist experiences that are now on offer. The strength of the exchange rate that is being offered to foreigners is also seen to be having a positive affect on the sale of properties. Foreign house sales show that in the past year investors worldwide are making the most of the opportunities that Turkey offers them.
New regulations in Turkey
Since the new regulations that were put into place on 19 September 2018, foreigners who buy real estate property that is worth 250,000 USD qualify immediately for Turkish Citizenship by investment. This price has been decreased from 1 million USD and is a real draw for many homeowners.
The lead with regards to purchasing real estate are those from the Middle East and the Gulf Region and there are still many buyers from Russia, Germany, United Kingdom, and Azerbaijan with the number increasing on a daily basis.
Will Antalya continue to be sort after?
Another expert confirmed that, “Antalya will continue to attract foreigners as a city were the purchased houses will be valued faster. We believe that the number of housing units sold in the city will reach 10,000 this year. Granting citizenship to foreigners who buy at least 250,000 USD worth of housing accelerated the increase in sales. Citizens of Iran, Syria, Russia and Europe currently show high demand. Foreign customers prefer housing in different economies from Kemer to Alanya according to their life goals in Antalya.”