Apartment in Alanya: from the developer or the secondary market

The cleanest sea beaches, developed infrastructure and relatively low prices - this is what, first, Alanya is associated with our tourists. These factors, like a magnet, attract those who want to buy real estate in Alanya. Many are interested in the question of which housing to choose: from the developer or the secondary market?

Developers provide the latest housing, while also delighting depositors with many promotions, including interest-free installments. In the secondary real estate market, prices are lower, and besides, there are quite exclusive properties. Consider how an apartment in Alanya can be bought and which market is more suitable for this.

Property prices in Alanya

As we said at the very beginning, apartments in Alanya are considered among the most affordable in all of Turkey. There are inexpensive options, both from the developer and in the secondary market. They can be divided into three categories, depending on cost and condition.

• New one-room apartments up to 65 sq. m. - 55-95 thousand €;
• Apartments in old Turkish houses (the house is over 15 years old) - 45-60 thousand €.

The bulk of the proposals of the primary real estate market is near the sea coast, in resort areas. "Resale" is often put up for sale in the center of Alanya: in the areas of Oba and Demirtas.

Besides the objectively low price of real estate in Alanya, there may be unreasonably low options. Most often, their value shows the urgency of the sale of the object, the need for major repairs or problems with the documentation. Therefore, you should carefully read the reasons for low prices. In addition, you need to make sure that there are no encumbrances (pledges, loans, etc.) that may suddenly “emerge” after the transaction.

Besides budget housing, the Alanya real estate market also provides many options for premium luxury apartments. It all depends on the level of the resort complex, the type of property, the view from the windows and the distance from the sea. One of the most popular areas of Alanya is Mahmutlar, the cost of villas in which starts from 100 thousand €.

Speaking on average, the cost per square meter of real estate in Alanya ranges from 1700... €1900 in the central parts of the city, and about 700-€1000 in areas remote from the city center. For those who are planning to buy apartments in Alanya to rent out, we present the following prices. On average, guests pay from 350 to €600 per month. For the year, it comes out about 4.2-7.2 thousand €, excluding taxes and related expenses. In addition, it is necessary to pay for the services of a management company (approximately 15-20%), which deals with all real estate services, looking for and populating tenants. You can count on an average yield of 6.5-8% per annum with a long-term lease. And about 7-12% for short-term (daily).

Advantages of the primary real estate market in Alanya

Let's consider which offers of developers can cause the greatest interest among investors. First, the indisputable advantage of the "primary" is the staffing of housing and completed finishing work. There are apartments that have literally everything, including curtains on the windows and towels. Second, new real estate in Alanya is often built in proximity to the coastline, allowing you to admire the sea views without leaving your apartment.

Third, large developers have their own staff of lawyers who are ready to assist in the transaction's execution. Fourthly, most Turkish developers offer interest-free installments for the construction period and more (up to 2-3 years). This allows you to further save, given that mortgages in Turkey for foreigners are issued at 7-9% per annum.

Fifthly, many developers provide "bonuses" for their clients related to the solution to various issues. For example, help with utility bills, transfers around the country, booking airline tickets, etc. In addition, on the territory of the residential complex itself, there are swimming pools, hammams, SPA-salons, tennis courts, football or basketball courts, and even a water park and a yacht pier.

Secondary real estate market in Alanya

Perhaps the "secondary" Alanya is devoid of a certain gloss, but the cost of its facilities can be significantly less than that of new housing. Most likely, this is one of the major advantages of the secondary real estate market in Alanya compared with new apartments or houses.

In addition, you can purchase a ready-made, real-life object. This is also important, since even the most respectable developer may have unforeseen problems that threaten to disrupt the commissioning deadlines, or even the very delivery of real estate.

Of the minuses can be called remoteness from the sea and the need for repairs. Unlike the primary real estate market in Alanya, the "secondary" most often needs restoration, up to a major overhaul, and finishing work. Another of the "pitfalls" can be considered the involvement of experts to assess the quality of housing, which is also associated with certain costs.

Which real estate market in Alanya to choose, primary or secondary?

The question is more rhetorical than substantive. It all depends on the specific situation and preferences of the buyer. We can definitely say: if you want to buy an apartment in Turkey, then it is best to do it in Alanya. In terms of the ratio of price and quality of construction projects, this resort outperforms most other Turkish cities. In addition, the unforgettable landscapes of the Mediterranean Sea and mountains, combined with a warm climate and pristine beaches, allow you to relax and take a break from everyday work.

If you are interested in a relatively new apartment in Turkey, fully furnished and ready to move in, then it makes sense to take it on the "secondary". When there is no desire to do repairs and you want an apartment in a large residential complex, it is better to choose to house in a new building than the developer.

Our company Hayat Estate recommends choosing to house on the primary market or put into operation in the last year or two or three. Since it is much more pleasant to live in your new apartment. And it's easier to rent out. An apartment in a new house, with a quality finish and a good layout - it's always easier to rent.

Old houses can be built according to old standards. Apartments can overheat in the summer, blow out strongly, mold more than houses built from modern materials using modern technologies. In old houses, there are more often neighbors, Turks and Arabs, whose mentality is more different from ours than the mentality of Europeans. And also it is necessary to add the cost of repairs.

Both primary and secondary have their strong pros and cons. It's a superb choice of offers. The only thing that can be advised here is to turn to professional realtors in order to protect yourself from the "pitfalls" and make a reasonable investment. The managers of our company have knowledge of the law and are well versed in the merits of the issue. They will select real estate for any of your requests!