Turkish Property Prices are Lowest Point Now
Published
Real Estate Crisis: An Opportunity for Investors in Alanya
The construction and real estate crisis, the locomotive sectors of Alanya's economy, have become opportunities for real estate investors. Halil Yıldırım, CEO of Basic Apartment Real Estate, one of the leading real estate companies in the sector, evaluated the latest developments in Yeni Alanya, the largest newspaper in the local area.
Halil Yıldırım recommended that those investing in housing in Alanya should evaluate the current market.
Halil Yıldırım: Following the steps taken regarding foreign residences in October 2022, the Ministry of Internal Affairs started a decline in the real estate sector. If we remember the regulations on residence permits, Some areas were closed to residence, and the title deed fee was at least 200,000 USD. Of course, it was challenging to meet these conditions, and the sector was negatively affected.
It gets even worse with the newly enacted law on short-term rental of residences. With this law, certain conditions were required for short-term rental of houses. Click on the link for a detailed explanation of short-term rental.
In light of all this data, prices are now lower than ever.
