Foreign investors in the Turkish real estate market are increasingly paying attention to Alanya. Given the modern technology and quality standards that Turkish developers work with, flats for sale by the sea in Alanya are the right direction for investors and foreigners.
Alayna is a promising resort town with a developing infrastructure that continues to increase the tourist flow and the cost of local housing. This is the perfect location for anyone who wants to obtain Turkish citizenship and passport rights.
How to get Turkish citizenship
To qualify for citizenship in Turkey, the main applicant must invest at least 250,000 US dollars or the equivalent in foreign currency in local real estate. After the transaction, the site should be kept from being resold for 3 years. You can invest in one or several houses; only the total cost matters.
Once the applicants have selected a property suitable for investment, an application for a residence permit must be submitted on behalf of the family. Then the main applicant needs to open a bank account in Turkey.
The investment can be completed when all application documents are prepared (including certificates and translations). Further, all collected papers are sent to the government, whose representatives will begin the review process and invite the applicant for an interview. Most often, the approval of the application takes up to 120 days, after which citizenship documents are issued.
Why Alanya
The Turkish government offers citizenship to foreigners who have invested in real estate in any city, so why should the investor choose Alanya? Here are the main reasons:
- Tourism and internationalism. The city’s tourism industry is on the way to development, and the local administration is using all available means to improve the infrastructure and attract citizens of other states. Therefore, every year Alanya is visited by an increasing number of tourists, and the share of the foreign population, currently 10%, continues to grow.
- Tradition and modernity. Alanya is a vivid example of how traditional values can harmonize with modern culture. Walking through the city streets with high-rise buildings and historical sights is like traveling back in time. It is here that those who refuse to choose between classics and innovations will find a home.
- Rising prices. The tourist potential of Alanya has yet to be fully developed, so local real estate is much cheaper than in Istanbul and Antalya. A timely investment guarantees entrepreneurs greater profits with minimal risks.
Short-term lease of Turkish real estate for investors
Regarding short-term rentals, the homeowner should be familiar with the latest Declaration of Identity Act amendment. The amendment, which came into force in 2016, states that if the property is rented out for a vacation, the landlord must register the names of their tenants in the government’s GIYKIMBIL (Temporary Residence Identification System).
Important: even if the tenant rents the house for one day, the landlord must enter their names in the system. Otherwise, he will be fined 700 Turkish lire (about $50). After registration, the gendarme checks the temporary residents. This measure was introduced to combat terrorist activities.
In which city of Turkey is it profitable to buy a property?
Several cities in Turkey attract crowds of tourists every year. This raises the question for novice investors: where to buy real estate for the greatest profit? For the last 5 years, experienced entrepreneurs have been buying apartments in Alanya. This city’s administration actively finances infrastructure to attract tourists and expatriates, which leads to higher rental prices and capital gains. A catalog with apartments in the best areas of Alanya can be found on the Yekta Homes website.
How to invest in real estate in Alanya
The most reliable way to choose to house for investment is to contact the developer directly, proven by many years of work. Regarding Turkish real estate, it is better to trust the experts from Yekta Homes. On the territory of Alanya, the company has built more than 15 modern complexes with well-thought-out infrastructure. Yekta Homes professionals will help you choose the perfect home and take care of the after-sales service.