Having visited a country on the Mediterranean coast at least once, everyone may have thought about buying a home there. Most foreigners prefer various destinations of Turkey, such Alanya, Antalya, Fethiye and many others as the real estate in these destinations is taking the central stage. In this article, we will focus on Antalya as one of the most popular resorts and a beneficial region for real estate purchase and generating a staggering amount of revenue.
Reasonable real estate prices in Antalya attract foreign investors as well as citizens of other countries with a desire to relocate. What else makes Antalya a destination of huge investment potential?
Peculiar features of Antalya
Tender sea with precise turquoise water, best opportunity service, warmth sun, wonderfully categorized beaches, and sensible prices blended with raised quality – that’s what attracts tourists to Antalya. Comfortable climate welcomes tourists all year round and provides equally pleasant conditions for vacationing.
Antalya is perfectly located with the airport that accommodates flights from various parts of the world. The resort has a well-developed infrastructure (hotels of different categories, restaurants and cafes, nightclubs). It is the largest city on the Mediterranean coast.
Grounds to buy real estate in Antalya
The fashionable and popular resort beloved by many, Antalya is a fabulous place for recreation. And those who wish to acquire apartments and villas there are focused to start living their dream life.
Naturally, in the case of purchase, there are various doubts and fears, what could be the pitfalls, because it is a completely different country, where its own laws apply. And if it is very friendly to holidaymakers and tourists, what awaits those who have decided to buy a property in Turkey.
Besides, we can highlight the next positive features of Antalya:
- wide choice of destination for buying;
- reasonably prices real estate and huge investment potential;
- a huge property portfolio;
- beneficial market conditions;
- comfortable legislation system;
- great educational and medical opportunities;
- considerably high quality of life;
- convenient cost of living.
Inconveniences in real estate purchase
Living in any country is followed by pleasant and upsetting situations. Unfortunately, there is no heaven on earth. The most common difficulties a homebuyer may face:
- necessity to acquire a special permit from the Ministry of Defense of the nation in the military office in Izmir, establishing that the purchased entity is permitted for sale to foreigners;
- possible language barrier if a buyer does not contact the certified translator;
- absence or incomplete equipment of utilities in the property;
- a large tax on luxury;
- high appreciation of religion.
Cost-efficiency of the real estate in Antalya
Most offers of real estate purchase in Antalya look very alluring and attractive for investments. However, buyers should know that there are no ideal objects and all of them have both advantages and disadvantages. Besides, it is necessary to take into account additional expenses on maintenance and repairs. Before the contract of sale, it is obligatory to calculate all indicators of the profitability of investments and, most importantly, cost-efficiency.
To understand whether the desired object is worth investment, a buyer should gather and analyze the following information:
- the cost of the object, its footage and necessity of renovation and repair;
- number of rooms and location;
- the terms of a mortgage and the amount of all payments;
- calculate approximate rental income per month and associate it with obligatory monthly payments;
- calculate additional expenses, like insurance and rental taxes.
With complete information, you will be able to understand whether the chosen object corresponds to the goals of investment.
Buying rental property in Antalya is a common investment scheme implemented by many foreign businessmen. If you choose the housing unit correctly, paying attention to details and consulting with the specialists, the possible income will be 5-10% ROI. Such an object can bring approximately from 2-4% to 8-11% per annum.
The final world
The profitability of real estate in Antalya greatly depends on many factors. Conforming to their beneficial combination, a buyer may get the sound passive income and an exclusive housing option. A major aggregator Turk.Estate represents a superb selection of excellent apartments and villas in Antalya. Being developed in comfortable locations by famous companies, the properties become a reasonable investment and reliable source of passive income.