Buying a property in Antalya: a complete guide

All sources have been thoroughly verified for credibility. Furthermore, a local real estate expert has reviewed and approved the final article.

Yes, the analysis of Antalya's property market is included in our pack

Thinking of investing in real estate in Antalya? You're not alone!

Antalya's scenic beauty and ancient ruins enchant people, leading them to fantasize about owning a private villa or a modern apartment in this Turkish coastal paradise.

Is it worth investing there, though? Are property prices increasing in Antalya? What is the current trend? Should I invest in the city center or Lara? What are the taxes? Can I get a very good rental yield? Where?

We have the answers.

The Investropa team has done their homework and know this market well. Actually, we've organized all our findings in a pack. Get it now.

In this article, we're happy to share useful information with you.

How's the property market in Antalya?

Is the property market doing well or poorly? People disagree. Instead of listening to opinions, we prefer to look at data and stats to find the real answers.

Types of properties

In Antalya, there are various types of properties available for sale to suit different preferences and needs.

These include apartments, villas, townhouses, and land for development.

Apartments are a popular choice for individuals or small families seeking convenience and amenities, often found in residential complexes. Villas are ideal for those looking for more space and privacy, offering standalone houses with gardens and often located in peaceful neighborhoods. Townhouses combine the benefits of apartments and villas, providing a middle ground with shared walls and some green space.

For those interested in building their dream home, there are plots of land available for purchase, allowing buyers to customize their property from scratch.

Whether you prefer city living or a more tranquil setting, Antalya has a diverse range of properties to consider.

Buying vs Renting

(If you plan to use it yourself and not as a rental)

If you're considering settling in Antalya, Turkey's picturesque coastal city, you might be pondering the pros and cons of buying versus renting a property here.

Usually, buying is better than renting in Antalya due to its rapidly increasing property values.

However, if you prefer flexibility, go for renting.

Housing prices in Antalya

On average, according to the last data from Central Bank of the Republic of Turkey, purchasing a property in Antalya would cost you around $2,800 per square meter.

Obviously, there is a huge spread. The value of a square meter for a sea-view property in Antalya might differ from an apartment in Lara. We actually offer a more in-depth analysis in our pack for buying property in Antalya and in Turkey.

To put things in perspective, it means that, instead of buying an apartment in Paris or London, you can afford 5 properties in Antalya.

Also, housing prices in Antalya are 13% cheaper than in Alanya.

The most expensive neighbourhoods in Antalya are probably Konyaalti, Lara, and Kundu, while the cheapest neighbourhoods are likely to be Kepez and Aksu.

Trends

First and foremost, we have to acknowledge that Turkey is, nowadays, a relatively stable country. The last Fragile State Index that has been reported for this place is 78.1.

Keep this in view when pondering the viability of buying a property in in Antalya.

Besides that, if we look at the IMF's GDP forecasts, Turkey's economy is expected to soar by 13.9% in the coming 5 years, resulting in an average GDP growth rate of 2.8%.

If you intend to invest in real estate in Antalya it's a good thing because an expanding economy usually means people earn more, so they can buy property for themselves or as an investment, causing property demand (and then prices) to increase.

Also, in Turkey, the average GDP per capita has changed by 17.2% over the last 5 years. Very few countries have achieved superior results.

These are positive signals showing that property prices in Antalya might increase in 2024 and during the coming years.

Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Turkey right now.

Buying property in Antalya

It can be difficult to buy property in Antalya due to the lack of reliable and up-to-date information available. That's why we have created the pack to buy property in Antalya and in Turkey.

Buying process

In the pack of documents we have built, we've covered everything about buying a property, from the contacts you'll need to the taxes that need to be paid, and even where to look for available properties.

Now, we're presenting a simpler version to make it easier for you to understand and follow along.

This is the step-by-step process to purchase a property in Antalya:

1. Research the Antalya property market and local regulations.
2. Engage a reputable real estate agent familiar with the region.
3. Identify suitable properties and visit them in person if possible.
4. Conduct due diligence, ensuring the property has Iskan (habitation permit) and a clear title.
5. Make an offer and negotiate the price with the seller or their agent.
6. Sign a preliminary sales agreement (Sözleşme) and pay a deposit (usually 10% of the property price).
7. Obtain a Turkish tax number from the local tax office.
8. Open a bank account in Turkey for the transaction.
9. Apply for military clearance (Takrir) for foreign buyers through the Land Registry Office.
10. Pay the remaining balance as per the agreed terms.
11. Complete the purchase contract (Tapu senedi) with a notary public.
12. Register the property with the Land Registry and obtain Tapu (title deed) in your name.

Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Turkey.

Make a profitable investment in Antalya

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Where to find a property

Discover properties in Antalya by exploring these websites:

• Property Turkey - Offering a wide range of real estate options in Turkey, including properties in Istanbul, Bodrum, and Antalya.
• Turkey Homes - Specializing in Turkish real estate, providing guidance for property, investment, and lifestyle needs. They offer properties across various regions.
• Turk Estate - A platform offering a comprehensive selection of properties in Turkey, including apartments, villas, penthouses, and commercial properties.
• Turkey Expert - A well-established Turkish real estate agent and property developer guiding foreign property buyers interested in real estate purchases.
• Zingat - A real estate portal offering various properties for sale, such as apartments, villas, commercial spaces, land, and tourism-related properties.

Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Turkey.

What you can get

As mentioned before, the average price per sqm in Antalya is $2,800. The cost of a one-bedroom property (60 sqm) is approximately $168,000, and a two-bedroom (85 sqm) would be around $238,000.

However, prices will change based on both the property itself and its location.

You can expect prices to be steeper in the upscale parts of Antalya. For example, a house in Lara could potentially cost you about $530,000, while a condominium in Konyaalti might be valued at around $300,000.

Certain locations are not as costly. You could discover a property in Kepez for $130,000 or a property in Konyaaltı that's only $110,000.

Find a more detailed price list in our full pack for buying property in Turkey.

Common pitfalls

Here are the main pitfalls specific to buying a property in Antalya, Turkey:

• Military zone restrictions: Some areas may have military zones, limiting property usage and resale possibilities.
• TAPU issues: Verify the TAPU (property deed) authenticity and registration to prevent legal disputes.
• Habitation permit delays: Delays in obtaining habitation permits can disrupt occupancy plans.
• Earthquake-prone regions: Antalya is in a seismic zone, so assess the property's structural integrity and insurance options.
• Tourist zone regulations: Certain properties might be subject to tourism-related regulations and restrictions.
• Cultural heritage restrictions: Historical areas may have preservation rules affecting property modifications.
• Urban transformation projects: Check if the property is part of any redevelopment projects that could impact value and access.
• Water scarcity: Antalya faces water shortages, so assess the property's water source and availability for future use.

We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.

Everything you need to know is included in our Turkey Property Pack

Living in Antalya

Antalya is an ideal place for those looking to buy property, offering a Mediterranean climate, stunning beaches, and a vibrant cultural and social life.

Cost of living

The cost of living in Antalya is generally quite affordable compared to other cities in Turkey. Prices for everyday items such as food and transportation are quite reasonable, making it an attractive destination for budget travelers.

Here are some examples to better understand the cost of living in Antalya:

• A "Peynirli Pide" (Turkish cheese-filled flatbread) at a local eatery: $4.
• Rent for a one-bedroom apartment in the Lara neighborhood: $500 per month.
• "Adana Kebab" meal at a traditional kebab restaurant: $10.
• "Salep" (Turkish hot drink) at a café: $2.
• Groceries from the "MarkAntalya" market: $30 per week for one person.
• Ticket to Antalya Archaeological Museum: $5.
• Monthly membership at a local "Hamam" (Turkish bath): $30-$50.
• A bottle of "Raki" (Turkish anise-flavored spirit) at a liquor store: $15.

Neighbourhoods

We like to make our information easy to understand. So, we have made a table that shows the different areas in Antalya. For yields, prices and rents, check our property pack.

Life in Antalya

Antalya is the largest city on the Mediterranean coast and has experienced significant economic growth in recent years. Tourism is the main driver of Antalya's economy, with the city attracting millions of visitors each year.

What expats usually like the most in Antalya are the stunning Mediterranean beaches and the vibrant city streets with their lively nightlife and shopping scene.

A good point for a property investor - Antalya has a light rail system known as Antray which connects the city center to the suburbs.

Access to healthcare in Antalya is excellent, with a Healthcare Index of 73. You probably know that when there's a solid healthcare setup, it makes a location more appealing, which benefits real estate.

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Renting out in Antalya

If you're interested in buying property not to live in, but to rent out and generate income, this section is for you.

Long-term

Tenant Profiles in Antalya

According to the data reported by Wikipedia, the home ownership rate in Turkey is 58%, which is not much.

It means that, if you decide to buy and rent out in Antalya, there will be a lot of people who can become your potential tenants.

If you decide to buy and rent out to long-term tenants, you should target young professionals, retirees, and families looking for a comfortable, affordable place to live in Antalya. Short-term tenants in the area typically include tourists and business travelers.

Here is a little summary table we've made for you.

Rental yields

As of today, rental yields in Antalya are floating around 2 or 3%. It's low. A good rental yield is typically considered to be around 7% or higher.

Rental yields in Antalya tend to be highest for properties located near the beach, as tourists are willing to pay a premium to stay in close proximity to the sea. Additionally, properties located in central areas of the city, close to public transportation and amenities, tend to have higher yields than those located in more remote areas.

For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.

Finally, be aware that rental incomes in Antalya are taxed at 27%, which is average.

Short-term

You could also decide to rent short-term to tourists visiting Antalya for its beaches, resorts, and historical sites. Additionally, business travelers who need short-term accommodation while in the city for meetings or conferences could also be potential tenants.

If you decide to go with that option, look for properties in Konyaalti Beach, Lara Beach, or Kaleici. All of these areas are popular tourist destinations, offering a variety of activities and attractions for short-term tenants.

You will have some competition though - there are around 30,000 Airbnb listings in Antalya. The average daily rate stands around $98.

You have the opportunity to generate a nice additional income stream then. According to online testimonials and analytics platform like AirDNA, Guesty and Inside Airbnb, people who offer short-term rentals in Antalya can make around $900 per month. Also, the average occupancy rate is estimated at 48%.

Is it worth buying real estate in Antalya then?

Absolutely, buying a property in Antalya can be a fantastic decision for many, but it's not a one-size-fits-all choice.

If you're looking for a long-term investment in a city with promising economic indicators and a rising property market, Antalya could be your ideal destination.

The city offers affordability that European counterparts like Paris or London simply can't match, making it an attractive proposition for those who want to own a piece of paradise without breaking the bank.

Moreover, the diverse property options available in Antalya, from apartments to villas, ensure you can find a home that perfectly suits your lifestyle and needs.

However, it's essential to recognize that buying property in Antalya might not be the best path for everyone.

If flexibility is your priority and you're uncertain about your long-term plans, renting could be a more suitable option, as owning a property comes with maintenance costs and tax responsibilities.

Additionally, if you're aiming for high rental yields, Antalya's market may not meet your expectations, given its relatively low yields.

While the city offers rental income potential, achieving the desired return might prove challenging.

Lastly, be aware of market risks and the complexities of buying property in a foreign country, which can include legal and administrative hurdles.

In sum, whether Antalya is worth buying a property in largely depends on your individual circumstances and investment goals, so weigh the pros and cons carefully before taking the plunge.

Make sure you understand the real estate market in Antalya

Don't rush into buying the wrong property in Turkey. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

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The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.