Property in Turkey

Why to invest in Alanya?

Turkey today shows stable economic growth, thereby offering foreign citizens many directions for profitable investments. One of the fastest growing sectors is the real estate market. The rise in housing prices in the country is confident. This trend is especially noticeable in the resort regions located on the Mediterranean coast. One of these is the beautiful Alanya.

Every year, interesting offers from leading developers appear on the market, which makes it possible to earn money by investing in profitable projects at the excavation stage. Buyers are purchasing homes at this stage with the aim of reselling them shortly before completion of construction or after the house is put into operation. Thus, a potential investor can receive income immediately, since the cost of square meters in modern residential complexes after the completion of construction rises to 40%. It is worth considering that objects under construction can be bought on favorable terms – in an interest-free installment plan from the developer or on a loan at a low rate, which means that the benefits of such an investment becomes more than obvious.

Many foreign citizens also invest in buying commercial space, and in Alanya this is becoming one of the best ways to make good profits. This applies to both the purchase of square meters for running your own business, and their lease for offices, shops, restaurants, cafes.

Turkey recently launched its own citizenship by investment program. When buying real estate, a foreign investor has the right to citizenship.

Along with the constantly increasing demand, the real estate sector is actively supported by the state, by the program for the demolition of old housing and objects in disrepair, which means that the owners of apartments in old buildings will receive new apartments in return. This program applies not only to residential buildings, but also to social facilities. Erection of new modern buildings that will have the most positive effect on the appearance of Turkish cities and will solve many problems.

In 2018, the Turkish government introduced the possibility of obtaining Turkish citizenship in a short period. Anyone who has bought property worth $ 250,000 or put in deposit $ 500,000 in Turkish banks can apply. In this case, the applicant is not entitled to either sell this property or withdraw money from the account for 3 years. Also, those who have made investments in the Turkish economy in the amount of at least $ 500,000 and those who have created 50 jobs for Turkish citizens can apply for citizenship in an accelerated mode.

Also, entrepreneurs and investors can apply for the Turquoise Card, which guarantees almost the same rights as ordinary Turkish citizenship.

Required Documents for Application for Turkish Citizenship by Investment

Preparation of documents for obtaining citizenship requires special knowledge and experience. Since each applicant in his case may have different conditions, we recommend that you contact our company for legal support. We provide you with full support in the preparation of documents.

List of required documents:

  • Application form.
  • A valid passport.
  • 4 passport-sized photos for each member of your family.
  • Birth certificate.
  • Residence permit or valid tourist visa in your passport.
  • If necessary, a document confirming marital status and documents for children (marriage and birth certificates of children).
  • If necessary, a document confirming the identity and address of the relative’s residence in Turkey
  • Document confirming the payment of the tax fee.
  • Report on the assessed value.
  • A receipt from the bank confirming the payment of a minimum of $ 250,000.

The middle-income population is attracted by the relatively low mortgage rates. Such a loan can be issued to any foreign citizen who has the right to buy real estate in Turkey. The loan is issued for up to 10 years. Despite the current situation with the pandemic in the world, the level of foreign investment in real estate remains at a high level.

A huge plus was the ability to complete transactions online. Such transactions do not require the personal presence of a foreign buyer and are carried out under a power of attorney, which he draws up for a representative of a developer company or a real estate agency in Turkey.

The package of documents includes:

  • international passport and a photocopy with a notarized translation of the passport into Turkish;
  • a document confirming the applicant’s solvency (an extract from the bank on the movement of funds on the current account for six months or a year, there may also be a certificate of income or (for entrepreneurs) reporting documentation for the last 6-12 months;
  • proof of residential address. This can be a receipt for electricity or water, a fine, etc. The main thing is that the receipt indicates the applicant’s full name and address of residence in his country. If the applicant has a Turkish residence permit and an address, he can be confirmed to the bank;
  • Turkish TIN (issued free of charge, during one visit to the local tax authority of the applicant’s city of residence);
  • certificate of ownership (TAPU and its photocopy) for real estate purchased in a mortgage in Turkey.

Alanya is the warmest corner in Turkey with over 300 sunny days a year. Thanks to the coastal mountains, the city is protected from the northerly cold winds. A gentle sea on the one hand, majestic mountains on the other, picturesque bays and caves will never cease to delight and amaze guests of the resort.

The resort is full of shops, boutiques, and malls. Another place that attracts shopaholics is the Oriental Bazaar. In Alanya, culinary temptations lie in wait literally at every step. There are many modern cafes and traditional small shops in the city, so nothing will prevent you from taking a gastronomic tour here along the way. Alanya is a good place for families with children, because the city has several amusement parks at once, including a large water park with numerous slides. The city is not devoid of attractions, so it is well suited for educational excursions.

Renting out real estate during the high season can bring a good income for an apartment owner. Due to the mild sunny climate, the season in Alanya is quite long, which is why it is attractive for tourists. Therefore, the demand for rent will always be at a high level.

An important factor in the tourism industry is the proximity to the airport. Since 2010, Alanya has Gazipasa Airport (GZP), the long-awaited opening of which has significantly influenced the tourist flow. The distance from the airport to the center of Alanya is 45 km, and the travel time to the city is about an hour. The airport can serve both local and international flights. The second largest international airport in Antalya (AYT). The distance to Alanya is 130 kilometers, so you need to be ready to spend approximately two to three hours of your time.

In addition to airlines, you can use the intercity bus service to get to the city easily and comfortably you need by road at any time.

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