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Prices, areas and documents: what you need to know about buying a home in Alanya and Istanbul

03.05.2022

Prices, areas and documents: what you need to know about buying a home in Alanya and Istanbul

Turkey is a great place to live with beautiful nature, four seas and mountain slopes. We talked with experts and found out the prices for renting and purchasing housing and asked them to share the benefits of living in the country.


Arina Umarova, 27 years old, city — Alanya, partner of the Trust United real estate agency, @arisha_un

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About myself

I am a partner of Trust United company in Alanya. My husband and I help to buy property in Turkey. He is an investment manager. The company has been on the market for about 20 years. We work on the seashore, in Alanya, Antalya, Mersin, Northern Cyprus.

In our company, you can purchase both real estate at the stage of excavation, and secondary housing. These can be residential, rental or investment properties.

We help at all stages of the purchasing process: from choosing a house to obtaining keys and documents. And after the acquisition, we provide consulting services.

What you need to know before moving

Before moving to another country, you should think about how you will earn money in it. Obtaining a residence permit in Turkey and purchasing real estate does not give you the right to officially work here. To do this, you need to get an invitation from a local company.

I also advise you to decide on the place of residence. If you do not speak Turkish, then not all cities are suitable for life. Also, not everywhere you will have the sea nearby and constant summer. For example, it is cold in the northern part of Turkey.

The next step is to scout out the housing situation. Ask yourself: «Is it worth buying a house here if I have never been here?». I recommend that you first stay for a short time in a rented accommodation. At the same time, you can decide which area is best for you.

Also, on the eve of the move, you need to check all documents for the validity period and put an apostille — an international stamp confirming the legality and authenticity of the document. These can be marriage certificates, birth certificates, or diplomas.

About the choice of area and prices

Alanya is divided into ten districts. Real estate is being built everywhere, including along the entire Mediterranean Sea.

First you need to understand why you are renting an apartment. If it is only for rent, then the center or the coast is better suited. If you want to live on your own, you should choose quiet areas.

The Mahmutlar area is suitable for those who do not speak Turkish. There is the largest concentration of residents from the CIS countries. For those who love nature, I advise the Avsallar area — one of the greenest places in Alanya with the famous sandy beaches of Incekum. There is also Oba. It is the largest district and the second center of the city.

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It is always worth checking the company from which you intend to purchase property. It does not hurt to pay attention to the developer — see his finished objects, find out reviews.

Property prices vary greatly. In the Avsallar area, the minimum amount is 55 000 €, in Oba — from 65 000 €, and in the very center from 80 000 €. Prices for villas are something like a cottage, starting at 200 000 €.

Additionally, you will need to spend money on Tapu — this is the only document in Turkish law that confirms the ownership of real estate.

Real estate prices are rising, and the decline is not expected

The exact amount is determined by the state authorities. It includes stamp duty and small government duties. The approximate cost of registration is from 1500 € to 2000 €.

After receiving Tapu, a residence permit, documents for the provision of utility services and property tax are paid.

Real estate prices are rising, and no decline is expected. In Turkey, there is a great demand for real estate among foreigners, so the market is growing. So, buying real estate, you can increase your funds up to 20-50% in a year.

There are several payment options:

  • — through a bank connected to the SWIFT international money transfer system
  • — through the Golden Crown
  • — bitcoin or cryptocurrency
  • — transfer from a physical account in a bank in your country to a foreign account of a legal entity.
  • — in cash, but you need to remember that the amount above $ 10 000 — 9 506 € must be declared at the airport.

On the advantages and disadvantages

The advantages of buying property in Turkey include cool views of the mountains and the seas, of which there are four: Mediterranean, Black, Aegean and Marble. There are 300 days of summer in the southern part of the country, and Alanya is an ecologically clean city, without factories and factories.

The only negative is the lack of heating in the houses. Residents are heated by air conditioners and heaters. This difficulty can be solved at the construction stage by installing underfloor heating.


Svetlana Akca, 32, Istanbul guide, @svetlana_istanbul


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About myself

I am a licensed guide in Istanbul. I have been living in this city for five years, and for the last three years I have been writing about it in a blog. A month ago, I received a state license from the Turkish Ministry of Tourism and Culture. This means that I have the right to conduct tours in the state palaces of the city, such as Topkapı and Dolmabahçe.

My activities are not limited to this. All the time that I live in Turkey, I studied history, read a lot of literature about the country, «made» useful connections and acquaintances.

About the choice of area and prices

Real estate prices vary greatly depending on the area. Take, for example, an apartment of 100 square meters.

In the European region of Esenyurt — it is considered «cheap», renting such housing will cost an average of 3 000-3 500 liras — 192-224 €, and buying a «decent» option of 1 000 000 liras — 64 000 €. In the more expensive Etiler area, rent will cost about 12 000-15 000 liras — 768-960 €. Purchase prices start from 4 000 000 liras — 256 000 €.

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The Asian region of Pendik can offer rent in the price range from 3 000 to 3 500 lira and purchase for amounts from 900 000 — 57 600 €. In this part there is a more elite Bostancı area, where you will pay 10 000-12 000 liras for rent, and a purchase will cost 4 500 000 liras — 288 000 €.

The easiest way to pay rent or purchase an apartment is in cash

When purchasing a property, you receive a residence permit by Tapu. If the property is more expensive than 250 000 € — citizenship. When renting, you can also get a residence permit under an agreement, but recently there have been many refusals.

It is easiest to pay for rent or purchase an apartment in cash, euros, dollars and even rubles are accepted, however, the exchange rate will not be profitable.

On the advantages and disadvantages

In Istanbul, everyone can realize themselves. Here, all nations and religions are treated with respect.

I think that the capital of Turkey will become the largest transfer hub connecting the city between different countries and continents.


Figures in euros are indicated at the exchange rate as of 30.04.2022.

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