Is buying a property in Oba a good investment?

Last updated on December 29, 2023

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

If you've appreciated the coastal beauty and vibrant lifestyle of Oba, you might consider making this Alanya district your next property investment.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Turkey, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Oba?

Oba in Alanya has become a coveted location for property buyers, and it's not hard to see why.

Unlike other real estate markets, Oba offers a unique blend of modern amenities, natural beauty, and cultural richness, setting it apart from other areas in Alanya.

What really makes Oba stand out is its balance between a peaceful, village-like atmosphere and the convenience of modern living.

Here, you're not just buying a property; you're buying into a lifestyle that's both relaxed and sophisticated. Think tree-lined streets, cozy cafes, and a community vibe that's welcoming and warm.

This contrasts sharply with other parts of Alanya, where the hustle and bustle can be overwhelming, or the more remote areas, which might lack modern conveniences.

Oba started gaining popularity in the early 2000s. This surge in interest wasn't a fluke but a result of thoughtful urban development, which emphasized quality infrastructure and sustainable growth. And this popularity isn't just a passing phase.

The sustained demand for properties here is backed by the continuous development of amenities, like shopping centers, hospitals, and schools, catering to a growing community. This steady growth suggests that Oba's appeal is here to stay.

The kind of people drawn to Oba is as diverse as the area itself. It's particularly popular among retirees looking for a tranquil place to enjoy their golden years, as well as families who appreciate the safe, friendly environment.

Young professionals and expats are also increasingly attracted to Oba, drawn by its unique blend of Turkish culture and modern living.

However, it's important to acknowledge some of the weaknesses of Oba. The popularity of the area has led to an increase in property prices, which might be a deterrent for some buyers.

Additionally, while Oba offers a more relaxed pace of life, those seeking the vibrant nightlife or the bustling energy of a big city might find it a bit too quiet.

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Why is Oba a nice place to live?

Oba is a gem for those seeking a blend of serene living and cultural richness, the lifestyle here is a harmonious mix of traditional Turkish culture and modern conveniences, creating an environment that's both relaxed and vibrant.

This unique balance makes Oba not just a place to live but a place to experience life in its full colors.

One of the standout features of Oba is its welcoming expat community. Over the years, it has grown into a diverse and inclusive enclave, where people from various backgrounds share their cultures and experiences.

This melting pot of cultures doesn't just enrich the social fabric of Oba; it also creates a sense of belonging for newcomers, making the transition to life in Turkey smoother and more enjoyable.

When it comes to the cost of living, Oba strikes a comfortable balance. While it's not the cheapest area in Alanya, the expenses here are reasonable, especially when you consider the quality of life.

Housing, daily essentials, and entertainment are generally affordable, making it possible to enjoy a comfortable lifestyle without breaking the bank.

Safety is another highlight of Oba. The area is known for its low crime rates and a strong sense of community, where neighbors look out for each other. This sense of security is invaluable, especially for families and those living alone.

Oba is well-equipped with a range of amenities and facilities. For healthcare, there are reputable hospitals like the Alanya Anatolian Hospital, ensuring access to quality medical care.

Educational needs are well catered for with schools like the Ted Alanya College, offering high standards of education. Shopping enthusiasts will appreciate the Alanyum Shopping Mall, which brings together a variety of stores and eateries under one roof.

The quality of infrastructure in Oba is commendable. The roads are well-maintained, making for smooth commutes.

Utility services, including electricity and water supply, are reliable, and internet connectivity is generally excellent, catering to both residents and the growing number of remote workers and digital nomads.

Accessibility is another of Oba's strengths. It's conveniently located, making travel to other parts of Alanya and surrounding regions easy. Whether you're driving or using public transportation, getting around is hassle-free.

For longer distances, the Gazipaşa-Alanya Airport is within reach, connecting Oba to broader destinations.

Public transportation in Oba is efficient and user-friendly. There are regular bus services connecting to different parts of Alanya, making it easy to explore the region without the need for a personal vehicle. This network of buses is not only convenient but also an affordable way to travel.

How much does it cost to buy real estate in Oba?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Turkey.

Buying a property in Oba offers a range of options to suit different tastes and budgets.

The real estate market here is diverse, with a mix of apartments, houses, and luxury villas. Apartments, especially, are quite popular in Oba, given their affordability and the convenience they offer for both residents and investors. They're often the choice for those seeking a holiday home or a rental investment.

On the other hand, luxury villas cater to those looking for a more upscale living experience, often with stunning views and exclusive amenities.

The high demand for properties in Oba, particularly apartments, is driven by several factors. One key reason is the balance Oba offers between a tranquil lifestyle and access to modern conveniences. This makes it attractive for retirees, expats, and even local families.

In terms of property types, you'll find both new developments and resale properties in Oba. The new developments are attracting a lot of attention, thanks to their modern amenities and designs. These properties often come with features like swimming pools, fitness centers, and enhanced security, which add to their appeal.

The price range for properties in Oba can vary widely, depending on factors like the type of property, its size, location, and the amenities offered.

On average, prices per square meter for apartments in Oba can range from approximately €1,000 to €2,500. Luxury villas and houses, given their larger size and more exclusive features, can command higher prices.

Over recent years, property values in Oba have seen a steady increase. This trend is partly due to the ongoing development of the area and its rising popularity among both Turkish and international buyers.

The infrastructure improvements and the introduction of new amenities have also played a significant role in boosting property values.

Looking ahead, there are indications of further developments and city planning changes that might impact property values in Oba. New residential projects and improvements in infrastructure, like better roads and public transport, could further enhance the area's attractiveness. This, in turn, could lead to an increase in property prices.

Predictions for the real estate market in Oba in the coming years remain optimistic. The continuous development, coupled with Oba's growing popularity, suggests a potential for further increase in property values.

Factors like its ideal location, the quality of life it offers, and the steady flow of investments into the area are key indicators of its potential for growth in the real estate market.

Where is the best area to buy a property in Oba?

When considering where to buy property in Oba it's crucial to understand that different parts of the area offer varied atmospheres, property types, and prices, catering to different preferences and budgets.

Firstly, the central part of Oba is known for its lively atmosphere. This area is bustling with cafes, shops, and restaurants, making it ideal for those who enjoy being in the heart of the action.

The properties here are predominantly apartments, ranging from modest to high-end, often part of complexes with shared amenities like pools and fitness centers. Due to the convenience and the vibrant urban life, prices in central Oba can be higher compared to other parts.

On the other hand, the outskirts of Oba offer a more tranquil setting. These areas are favored by those seeking peace and quiet, away from the hustle and bustle of central Oba. You'll find a mix of houses and villas here, often with more space and greenery.

The prices in these outskirts tend to be more affordable, offering great value, especially for those looking for larger properties or more land.

As for up-and-coming areas within Oba, certain neighborhoods are gaining attention due to recent developments. One such area is the eastern part of Oba, where new residential projects are emerging.

These developments are attracting buyers with modern designs and amenities, potentially making it a smart choice for investment, considering the growth potential.

When it comes to choosing the best area to look for a property in Oba, it largely depends on your personal preferences and needs. If you prefer a dynamic environment with easy access to amenities, the central parts of Oba are a great choice.

For those seeking a more laid-back lifestyle, the outskirts of Oba or the newly developing eastern part can offer more tranquility and space.

Conversely, there are areas in Oba that might not be advisable for certain buyers. For instance, some parts closer to the main roads can be noisier and less peaceful, which might not be ideal for those seeking a quiet living environment.

Additionally, areas that are too remote might lack easy access to essential amenities, which can be a drawback for those who rely on local facilities.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Turkey.

Area	Atmosphere	Property Types	Price Range
Central Oba	Lively, Urban	Apartments, Complexes with Amenities	Higher
Outskirts of Oba	Tranquil, More Secluded	Houses, Villas, Larger Properties	More Affordable
Eastern Oba	Emerging, Developing	New Residential Projects	Varies, Potential for Growth
Near Main Roads	Noisier, Less Peaceful	Varied, Often Apartments	Varies
Remote Areas	Isolated, Limited Amenities	Varied, Potential for Larger Land	More Affordable

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Is there a strong rental demand in Oba?

In Oba there's indeed a strong demand for rental properties, but the nature of this demand varies between short-term and long-term rentals, each appealing to different tenant profiles.

For short-term rentals, the demand is particularly high during the tourist season. Oba, with its attractive beaches and vibrant cultural life, draws a significant number of tourists.

These visitors often prefer short-term rental accommodations like apartments or small villas. They're typically looking for properties that are close to the beach and local attractions, making areas near the coastline especially popular.

Short-term tenants are usually holidaymakers, including families, couples, and small groups of friends, who prioritize properties with amenities like swimming pools, Wi-Fi, and air conditioning.

On the flip side, the demand for long-term rentals in Oba is driven primarily by expats and retirees, who are attracted to the area's pleasant climate and relaxed lifestyle.

These tenants are often looking for more spacious accommodations, like larger apartments or villas, that offer comfort for year-round living.

Areas slightly away from the busy tourist spots, yet still accessible to local amenities, are preferred for long-term rentals. Long-term tenants value properties with good security, proximity to healthcare facilities, supermarkets, and a sense of community.

Properties with certain amenities can significantly reduce vacancy rates. For short-term rentals, amenities like modern furnishings, a well-equipped kitchen, and leisure facilities such as a pool or a garden are highly attractive.

For long-term rentals, features like parking spaces, reliable internet, and a quiet environment are more valued.

Regarding potential returns on investment, properties in Oba can be quite lucrative, particularly if managed well. For short-term rentals, you can expect higher rental yields during the peak tourist season, with the possibility of charging premium rates.

However, this might be offset by lower occupancy during off-peak months. For long-term rentals, the returns are generally more stable throughout the year, though the monthly rental income might be lower compared to peak tourist season rates.

Overall, you might see annual rental yields ranging from 4% to 8%, depending on the property type and its management.

Properties that are increasingly in demand, and hence potentially offering better yields, are those that cater to the evolving needs of tenants. Modern apartments in well-maintained complexes close to amenities and the beach are highly sought after for short-term rentals.

For long-term rentals, properties that offer a combination of comfort, convenience, and community, such as spacious apartments or villas in tranquil yet accessible locations, are gaining traction.

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Is it easy to buy a property as foreigner in Oba?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Turkey.

Buying a property as a foreigner in Oba, Alanya, is relatively straightforward, but it does come with certain regulations and considerations that are important to be aware of.

Firstly, Turkey has a very open policy when it comes to foreign property ownership, but there are some restrictions. Foreigners are not allowed to buy property in certain military zones and security zones.

It's important to ensure that the property you're interested in isn't located in these restricted areas. Also, the total area of land that a foreigner can purchase throughout Turkey cannot exceed 30 hectares.

The purchasing process in Oba generally follows these steps; finding a property, conducting a title deed check to ensure there are no debts or legal issues attached to the property, signing a sales contract, obtaining a tax number, opening a Turkish bank account, and finally, applying for and obtaining the title deed (Tapu).

Primary risks associated with property investment in Oba include potential legal issues related to the property, such as disputes over ownership or construction permissions.

One classic pitfall is not conducting a thorough due diligence process, which can lead to buying a property with legal encumbrances or not in compliance with local regulations.

For example, there might be issues unique to Turkey like discrepancies in the property's registered size versus its actual size.

Working with a local real estate agent or lawyer is highly recommended. They can provide valuable guidance throughout the buying process, help navigate the local legal system, and ensure that all necessary checks are carried out.

A local expert's knowledge is invaluable in avoiding common pitfalls, such as miscommunication due to language barriers or misunderstanding local laws and regulations.

Common exit strategies for property investors in Oba include selling the property for capital gains or renting it out for a steady income stream. The choice of exit strategy may depend on market conditions at the time of sale, the location and type of the property, and the owner's personal circumstances or investment goals.

Some investors also opt for renovating and flipping properties, which can be profitable in an area like Oba, where the demand for modern and well-furnished properties is high.