With its excellent beaches and facilities, investors and private buyers have been flooding into Alanya's property market
ALANYA IS ONE OF THE LARGEST RESORTS on The Turkish Mediterranean coast. Formerly the winter capital of the Selcuk Turkish empire, the modem town has grown rapidly in the shadow of a large medieval castle built on a sea-girt rock which dominates the coast for miles in each direction. In addition to the historic interest of the castle and city walls, Alanya has excellent leisure facilities and good beaches, including several Blue Flag-awarded stretches. The town's lively nightlife is centered on the harbour area, where there is a wide choice of restaurants, bars and clubs. There are also lots of shops and a large weekly market.
Alanya has grown rapidly in the last 15 years with development now stretching for more than 20 km along the coast. Particularly popular with Scandinavian, Dutch and German package tourists and property buyers, the town now has over 9,000 foreign resideuts.with an increasing number of Irish and British entering the market. Attracted by the warm climate, many retirees now spend the winter months in the resort, with families and younger buyers attracted by the beaches and entertainment in summer.
The property stock is mainly apartments, with lots of new-builds and off-plan developments. In the center, most of the properties are resale apartments, often over 7 years old and in need of renovation, Prices start from 35,000gbp for a resale three-bedroom apartment, though expect to pay over 50,000gbp for a similar property near the beach. An additional 10P00-150X)gbpcould secure you a sea view. You will also pay a premium for apartments on the lower slopes of the caslle rock, which benefit from views and greener surroundings.
To the east of the center, the suburb of Oba has a good beach and shopping and easy access to the center. Nearby Cikcili has recently been opened-up for development. Bought off-plan, two-bedroom apartments on well-equipped complexes typically start from 50,000gbp in these areas.
Mahmutlar, 15 km east of the center, is a small but rapidly growing resort. Apartment blocks and villa complexes have sprouted in the last 5 years from the banana plantations inland of the main highway. Prices are 15-20% lower than in Alanya, although the basic infrastructure is lacking in many areas. Due to the huge amount of new property, older resale apartments should be avoided by investment buyers. A new two-bedroom, two-bathroom apartment on a complex with shared pool starts from 40,000gbp, or from 65 tJ00gbp in a sea front location.
Thanks to a long holiday season and a growing influx of winter residents from Scandinavia, the local rental market is buoyant.Three-bedroom furnished apartments typically rent for 200-400gbp per week depending on the location and facilities.
