The stagnation in the real estate market also makes itself evident in Antalya which is the capital of tourism. However; notably Kepez, with the huge urban transformation in Santral District Döşemealtı, with the new bus station construction, and Konyaaltı, with its new marina investment have the ear of investors recently. Currently, a dynamism is expected in Alanya in which 33 thousand freeholder investors and approximately 600 hotels are located. On the other hand, Muratpaşa, the heart of Antalya seems to bring in the Kırcami Region to the investors.
Harmoni Real Estate Appraisal and Consultancy Inc. continues to keep the pulse of the real estate market of the big cities. The Harmonie Appraisers, who handled the real estate market in Ankara, Izmir, Adana and Samsun, stated which regions were valued and which places have a promising future. Particularly, they attracted attention to the points that are reached in urban transformation studies and made evaluations that can be a guide to investors who plan to make investments in these cities.
As Harmoni, we discussed the tourism capital Antalya in detail this time. Harmoni Antalya Branch Manager Çiğdem Yılmaz Özkaya has compiled the regions that stand out in the real estate market in Antalya and its districts after analyzing and evaluating them. Çiğdem Yılmaz Özkaya's explanations are as follows...
Is there any activity in the real estate sector of Antalya? If so, what are the reasons for that?
The reason that the Antalya region is a developed region in terms of tourism, is a city in a position that receives immigration from foreign nationals and from abroad. Due to the large number of outbound immigration, the real estate sector in Antalya is highly developed. For this reason, in the year 2016, the value of real estates in Antalya generally experienced an increase by 20 percent. Stability began in the real estate sector in 2017 due to the political reasons experienced in our country. Since the sales made with foreigners have stopped, the sales of local customers have begun to be on the front line. In this context, currently there is already an overhead supply in the real estate market. However, in the case of an increase in foreign sales, I reached the conclusion that the market will gain its former momentum again.
How urban transformation is in Antalya? Which projects are up ahead so far?
It is possible to state that Antalya has just met with urban transformation. Metropolitan Municipality Urban Transformation Department works on the subject with dedication and is signing huge projects. It is certain that, at the very beginning of these projects comes the project of Suryapı Antalya, which will host 70.000 people in Santral District together with Sur Yapı. Even before the project advertisements came out, selling quantities were serious. With its promised life and social areas, investors living in Istanbul and Ankara are attracted.
In addition to this, the Metropolitan Municipality of Antalya, Balbey and Güneş Neighborhoods are continuing their urban transformation works.
Which regions are valued in this city? Where are the attractive regions for investors?
The Hurma Neighborhood, located in Konyaaltı between 2014 and 2016, demonstrated an increase in housing prices by 30-35 percent due to the fact that the region is preferred by the foreigners. Later on, prices in the region have come to an equilibrium and are already preserving their value.
The favorite district for investors is the Döşemealtı district. The fact that there are lots of vacant lots in the region has attracted the attention of investors and prestigious projects have started to be designed in the region. Luxury villa sites are being built in the region, which is preferred by the locals as it is a quiet area and close to the city.
I am of the opinion that the new bus terminal project (on a plot of 100,000 m²) and the Hippodrome project (on an 80,000 m² plot), which started to be constructed in the region, will attract investors in the region.
The marina project planned to be done on Boğaçay, Konyaaltı provided value increases in real estates located around Boğaçay. When the project is completed, I think the value of residential and commercial properties will get more increase. In addition, Konyaaltı marina project, which is currently under construction in Konyaaltı, the project has given rise to qualified projects coming to this region. Investors who want to evaluate the unique sea view on the beach band started to invest here both for residential and commercial purposes.
With the completion of the plans of the region named Kırcami in Muratpaşa, luxury projects will be held in the region and in this context the land values will demonstrate considerable increase.
What are the uppermost districts in terms of housing price increase? Why is there an increase here?
We can list these places as Muratpaşa, Döşemealtı, Konyaaltı and Kepez. Muratpaşa and Konyaaltı have always been valuable places due to being a city center and being coastal to the sea. As the number of vacant land is lower when compared to the other provinces, real estate have demonstrated prices increases. In Döşemealtı, as I mentioned before, real estate prices have increased due to the fact that the luxury villas projects have taken place which attract the investors. It is preferred by locals because of the construction of new detached structures in Kepez and their prices being more appropriate compared to the other provinces.
What will be the average increase in rents and sales in the coming years and how much will it increase?
As in the whole regions of Turkey, in Antalya it is also possible to say that there is a stagnation in the real estate sector. Although they are the new projects of the Metropolitan Municipality, I believe that the year 2018 will be stable compared to the previous 3 years. I think the real estate market will gain its old momentum with the return of tourism and agricultural market to normal numbers in the year 2019 and after.
Outside the central districts of Antalya, which is the leading district, why?
When the population, tourism attraction, historical texture are considered, Alanya will be the right district. Alanya is located 135 km away from Antalya and has a population of around 300.000. There are about 600 accommodation facilities in this district. Since Alanya is a tourism-oriented region, it has been the region most affected by the crisis experienced in the tourism sector and the stagnation. For this reason, real estate values have experienced decreases. The Alanya city center is among the regions that need urban transformation due to the old structures.
Furthermore, according to the data gathered by the Directorate of Land Registry in the region, the number of foreign title holders exceeded 33,000.
It is possible to say that the prices will increase in Demre with the cruise marina project to be made in Demre.
In addition to this, one of the highlighted provinces outside the city center is the Elmalı district with its agricultural investments. Due to investments made for irrigation, Elmalı has become the preferred region for agriculture.
Which parts of Antalya are worth more in terms of the hotels? What are the main factors that provide this? Are there new areas of interest for hotel investors?
Tourism is the main source of livelihood of the city, including the center of Antalya. The preferred regions for tourism are Alanya, Belek, Side, Manvagat and Kundu in the east and Kemer and Kas in the west. Each region has its own unique beauty and advantages. For this reason it is possible to find luxury hotels in each region. In general, luxury and expensive hotels are located in Belek. The region is one of the places preferred by both the local and foreign tourists.
What are you doing in Antalya as Harmoni?
As Harmoni, we provide services such as real estate valuation and feasibility in the scope of both warrant and investment consultancy to banks, real estate investment trusts, construction companies, governmental institutions, private individuals, etc. in Antalya. Taking part in urban transformation projects is within our primary objectives.