The real estate market in Alanya, has experienced significant turbulence in recent years, largely due to the mass exodus of Ukrainians and Russians from the area.
This migration has resulted in an oversupply of apartments and potential reductions in house prices in some areas of Alanya, causing some investors to look at the market with interest again.
From 2021 to 2023, property prices in Alanya and Antalya rose, with reports indicating a tripling of prices and a staggering increase. This increase also affected rental prices.
The explosive growth of the housing market inevitably led to a parallel increase in the cost of living, affecting essentials such as food and electricity.
With the introduction of restricted bans, especially for foreigners to buy or rent apartments in certain areas, which in which resulted in an excess of apartments for sale in these restricted areas. The affected areas include Kargicak, Mahmutlar, Kestel and Avsallar in the Alanya region.
Given this unique market landscape, some investors may see an opportunity in the potential decrease in house prices due to the emigration of Ukrainian and Russian residents from Alanya to other countries.
This scenario can really be an attractive proposition for those who want to invest in the Alanya real estate market, which are these areas such as Kargicak, Mahmutlar, Kestel and Avsallar in the Alanya region very current.
For example, right now you can buy a summer residence in Avsallar in a brand new building for under 50,000 Euros or cheaper.
However, it is critical for potential investors to approach this potential opportunity with diligence and caution. Thorough market research, expert advice and a comprehensive understanding of current market conditions are essential before making any significant investment decisions.