1 – Value for Money
Compared to other popular investment destinations, such as Spain, Portugal and Cyprus, property in Turkey continues to represent very good value for money. Newly built property from Elite Group can be purchased from under 50.000 € and all units are constructed to the very highest of standards that are associated with the ‘Elite’ brand – beautiful marble or ceramic flooring throughout, fully tiled bathrooms, modern fitted kitchen with granite worktops, full range of in-built appliances and remote controlled air-conditioning in all rooms.
Please note that closing costs (legal fees) associated with property purchase in Turkey are also comparatively low – allow for around an additional 5% (on top of purchase price) to cover these fees (compared with a minimum of around 12% when buying in Spain).
2 – Wonderful Climate
Alanya – Where the Sun Smiles! With more than 300 days of sunshine per year, Alanya has the warmest climate of all Turkish coastal resorts, with the daily temperature often exceeding 30C during the hottest months. Even during the short winter season, the daily temperature rarely drops below 15C – imagine spending Christmas Day on the beach!
3 – Cost of Living
Simply put, considerably cheaper than at home. Electricity, Water, Property Tax, Property Maintenance Fees, Food and Drink, Public Transport and Daily Essentials – all available at a fraction of the cost that you would pay at home.
So, with much lower ongoing property ownership and daily living costs, you are left with more cash with which to enjoy all that Alanya has to offer – whether it’s nightlife, top quality cuisine, boutique shopping, boat tours, scuba diving or pony trekking in the mountains, all of this and more is available.
4 – Flexible Payment Solutions
Whatever your budget, we aim to please – Elite Group can offer a wide range of property, from studio apartments to 4 bedroom detached villas with private pool and garden. All clients are treated with the utmost due care and respect and this includes accounting for their financial circumstances.
Want to pay cash – no problem! Want to spread your payments over a mutually agreed timeframe – we can do that! Want to purchase your property with the assistance of bank credit – certainly! Whatever your situation, we are sure that we have a solution.
With most developers, what you see is what you get! In line with our customer relatonship policy, we are happy to tailor your apartment in accordance with your preferences. If any of the standard fittings – floor tiles, kitchen splashback etc. – do not meet with your approval, then we will offer you same cost alternatives. Nothing is too much trouble when purchasing with Elite Group (within reason of course)! Our customer is our first priority and we aim to please at all times.
5 – Easy Access by Air
We appreciate that one of your primary considerations when buying a property abroad is ease of access – how far is my property from the airport and how long will the airport transfer take? Up until recently, Alanya was served only by Antalya Airport, 135km to the west and a transfer time to Alanya centre of between 90 minutes – 2 hours.
In 2011, however, Alanya-Gazipaşa airport opened for business – this airport is only 45km to the east of Alanya centre and the transfer time is just 30-40 minutes. In you happen to purchase a property further east of the city centre, then obviously this transfer time is reduced.
In its first year of operations, Alanya-Gazipaşa welcomed just 29.000 passengers – in 2018, the number of passengers was in excess of 1 million! There are direct flights from many European cities during the summer season. During the winter months, when there are less direct flights, most flights arrive via Istanbul – the flight from Istanbul to Alanya-Gazipaşa takes around 1 hour. For obvious reasons, Alanya-Gazipaşa is now the preferred airport of choice for both tourist visitors and second home owners.
6 – Turkish Residency and Citizenship
The government’s open market policy means that almost anyone, from what ever country, can now buy property in Turkey.
Currently, all foreigners entering Turkey on a tourist visa can stay for a maximum of 90 days in any 180 day period – these days do not have to be consecutive.
For those property owners that wish to come and go as they please, we recommend Turkish residency. All foreign property owners are eligible for this and once the residence permit has been received, the holder can then travel to and from Turkey without restriction and without the need for a visa. All new permits are issued with a validity period of 1 or 2 years, renewable all the while that the holder continues to own property in Turkey.
Costs vary depending on which country the applicant normally resides – however, as a guide, applicants will pay around $25 for the 1st month of residency and $15 for each month thereafter. So, for a 1 year permit, the cost would be $190 (payable in TL on the day the application is submitted). In addition, there is a cost of around 150 TL for the actual permit.
Those individuals applying for residency must be able to show a bank balance of $500 per month (or other currency equivalent) for each month of residency – so, $6.000 minimum balance for a 1 year permit. In addition, all applicants under the age of 65 should have a valid private Turkish health policy.
Turkish Citizenship through Real Estate Acquisition
In September 2018, the Turkish government announced that the minimum investment amount would be reduced to $250.000, 75% lower than the previous minimum amount of $1.000.000.
This revised amount is lower than that required by most other countries offering ‘citizenship through property investment’ programs. In addition, unlike most of these other countries, there is no requirement for the new ‘citizen’ to reside in Turkey for a specified minimum number of days in a year. Furthermore, the Turkish program is one of the most time efficient, with citizenship being granted within around 2 months of the application being submitted.
Citizenship will apply to the primary applicant, his or her spouse and any children under the ages of 18.
As part of our standard aftersales service, Elite Group are happy to assist with residency and citizenship applications.
7 – Generate an Income from your Investment
The fact that Alanya attracts so many tourists means that rental demand is evident throughout the year and as a result, the ‘buy to let’ market is flourishing. Every year, many thousands of tourists are seeking out private rental accommodation in favour of the standard 4 or 5 star all-inclusive hotel. These renters are looking for high quality apartments, close to the beach and all amenities and with good on-site facilities.
Given that all Elite Group projects meet all of the above criteria, our rental properties are in high demand – those that are made available on a long term basis show an average occupancy rate of around 80%! (and a net average rental yield of between 5 – 7%).
In addition to generating rental income, both ‘lifestyle’ and ‘investor’ purchasers can expect good annual capital appreciation – property prices in Turkey increased by 9.8 % in 2018 and by a staggering 65% in the 5 year period 2013 – 2017!
8 – Easy to Get Around
As one would expect for a resort that generates 10% of all Turkish tourism revenue, it is essential that a cheap and reliable public transport system is in place.
Buses for all routes operate around every 10 minutes from early morning to late at night – expect to pay between 3- 4 TL one way on most routes (the most expensive 1 way ticket is 8 TL – Alanya Centre to Gazipaşa, a distance of around 45 km)!
Taxi services are also readily available and certainly a lot cheaper than you would find at home – expect to pay a daily fare of around 5 TL per kilometre travelled (as at home, night rates will be higher).
In addition to local bus services, Alanya has its own ‘Otogar’ (coach station) and from here you can get a coach to almost anywhere in Turkey – again, fares are very reasonable; as an example, a 1 way trip to Istanbul (a journey of around 12 hours) would currently cost around 150 TL.
9 – Delicious Food
Turkish cuisine has been making a name for itself on the worldwide culinary platform for many years, so much so that it is now considered amongst the best in the world. The combination of flavours and ingredients are blended together to form dishes that have been historically influenced by many different cultures – these include Greek, Ottoman, Middle Eastern, Asian and Balkan. The variety of the dishes available and the quality of the ingredients guarantee a delicious meal.
Alanya has numerous quality restaurants with many specialising in traditional Turkish Mediterranean dishes, rich in vegetables, herbs and spices. Not surprisingly, Alanya also has many speciality fish restaurants offering locally caught species such as barbunya (red mullet), levrek (sea bass), mercan (coral fish) and lüfer (bluefish).
The amenable climate means that Alanya is a very important region for fruit and vegetable production so, wherever you choose to eat, be it at a high-end restaurant or local ‘lokanta’, all of the produce will have been locally sourced.
10 – A Wealth of History and Culture
Alanya is rich in history and has been a stronghold for many ancient Mediterranean based empires, including Roman, Byzantine and of course, the Ottomans. It became prominent in the Middle Ages under the rule of Alaeddin Keykubat, from whom the city derives its name – it was his extensive building campaign that resulted in many of the city’s famous landmarks such as the Castle, Red Tower and the old Dockyard.
At almost 300 metres above sea level, the Castle is one of the most impressive sights in all of Mediterranean Turkey – built around 1224, it has a total of 140 towers and its walls stretch for almost 6.400 metres – dominating the skyline, the castle is the most prominent feature of the Alanya cityscape.
The Red Tower is a circular structure, around 33 metres in height, that stands watch over the harbour. The name comes from the red colour of the bricks and stones that were used in its construction.
The dockyard of Alanya (Tersane) is widely considered to be the first built in all of the Mediterranean region. Constructed in 1227, it has a width of 56 metres and a maximum depth of 44 metres.
Another site of importance is the Damlataş Cave. This sits at the foot of the castle hill and was discovered, by accident, as recently as 1948. It has a maximum depth of 50 metres and a height of 15 metres – its standout features are the stalagmites and stalagtites that have formed over the years. The cave is popularly known as an ‘curing cave’ due to the widespread belief in its capability to ease respiratory complaints – indeed, most of the early visitors were local residents who suffered from these complaints.
Further Afield – Alanya is ideally located as a base from which to explore further afield and there are numerous tour operators offering 1 – 3 day excursions to some of Turkey’s most famous sites. These include:
Cappodocia – the most visually striking region in all of Turkey, where natural erosion has formed a ‘moonscape’ of caves, pinnacles and ‘fairy chimneys’ amongst the dramatic folds of the soft volcanic rock. Prime activities here include exploration of the painted cave churches, flying in a hot air balloon by dawn, hiking in the Rose Valley and spending a night in a cave room with all modern comforts.
Pamukkale – Derived from natural springs on a plateau that overlooks the ancient (and remarkably preserved) city of Hierapolis, calcite-rich waters have created a stunning ‘cotton castle’ landscape made up of mineral forests, petrified waterfalls and a series of terraced basins.
Both of the above are UNESCO recognised as importance sights of heritage.