Buying Turkish real estate is a profitable investment option for foreigners, and an opportunity to find a second home on the coast of the warm Mediterranean Sea, whether it is buying real estate in Alanya, Izmir, Istanbul or any other area of the country.
As with any property purchase, it’s important to approach each stage with care. The first thing to do is to choose the right apartment, carefully studying not only the advantages, but also the disadvantages. One useful question to ask is when is it better to buy property in Turkey. Is there a concept of “seasonality” in the housing market, and does this factor affect the value of real estate?
Seasonality for real estate in Turkey
The concept of “seasonality” is inherent in most areas of the sales industry. There are certain periods when purchasing activity falls and, as a result, production volumes and the cost of goods decreases.
However, the Turkish resort real estate market is in many ways atypical, since the price tag for properties doesn’t really change throughout the year. However, the number of presented apartments and houses may increase or decrease, depending on the season.
Spring and autumn are favourable times for buying property in Turkey. It is during this period that Turkish resorts experience warm, mild, sunny weather. Therefore, foreign investors have the opportunity to come on a sightseeing tour, get to know the city and its districts, and choose suitable housing. In addition, in the autumn and spring season, many construction companies and private owners put properties up for sale.
A trip to Turkey at this time is also beneficial in terms of ticket prices. Getting to the popular Mediterranean resorts is very simple and cheap when compared to the holiday season, which traditionally lasts from May to October.
Holiday season is not the best time to choose secondary housing. Many owners, even if they have already decided to sell, rent their property short-term or use it themselves. This means that organising a viewing of the apartment can be more difficult.
For buyers planning to buy an apartment or villa from a developer, seasonality does not matter when conducting an introductory tour. Your decision to choose real estate in the summer will only be affected by hot weather. It’s one thing to sunbathe on the beach and swim in the warm sea, and quite another to drive around construction sites looking at different options.
Does the season affect the price?
Most buyers are interested in timings on property sales season in Turkey for one reason: the opportunity to purchase a property at the best possible price.
It should be noted that in the Turkish real estate market, it is really difficult to determine the time interval when apartments will cost the least. This is due to the high demand from local and foreign buyers, and the constant replenishment of the catalogues of real estate agencies with fresh offers from developers and owners. Competition between developers who are trying to attract potential buyers with optimal conditions for concluding a sale contributes to balancing prices.
As we have already noted, seasonality in Turkey affects the availability of a variety of housing choices, and not the price tag. The cost of properties is primarily influenced by such factors as the national currency rate, inflation, mortgage lending rate, economic and political crises, land prices, and building materials.
Real estate in Alanya
Alanya is a resort town on the Mediterranean coast of Turkey. Over the past 20-30 years, the city has transformed from a modest provincial town into a tourist mecca.
This Turkish resort town is popular due to its picturesque beaches, developed infrastructure, historical sites and relatively low prices. Luxurious apartments and villas are spread along the entire coast.
Real estate in Alanya attracts investors from all over the world, thanks to its price and location. The climate in Alanya is great in terms of living and renting out.
The cost of housing here is much cheaper than in neighbouring Antalya. And if you look at real estate in the numerous villages along the coast, you can find excellent housing at prices that most resorts in the world cannot compete with. A comfortable temperature in winter and a hot summer, with mountains and forests nearby, make buying property by the sea in Alanya a great option.
Real estate in Turkey
The Turk.Estate website offers real estate in different regions of Turkey. Once you’ve decided on your budget and housing preferences, head over to the website and start your search for a home in sunny Turkey today.