- Who buys villas in Turkey and why?
- In which region of Turkey should I buy a villa?
- Prices for villas in Turkey
- Is villa rental in demand?
- How much does it cost to maintain the villa?
- Is the procedure for buying a villa different from the procedure for buying an apartment?
- Is now a good time to buy a villa?
Who buys villas in Turkey and why?
The picturesque coasts of sunny, hospitable Turkey are well known to foreigners. It is not surprising that many people decide to acquire real estate here in order to stay permanently or come for a while.Most people prefer apartments, but there are also those who want their own house and can afford it. Usually, the ratio of requests for apartments and villas, according to different agencies, is 70:30% or 80:20%.
The boom in home sales occurred during the COVID-19 quarantine period and the post-COVID period. After the pandemic, the increased demand for this type of real estate lasted for another year, and then calmed down and returned to the usual indicators.
- Large families from Kazakhstan, Uzbekistan, Turkmenistan, and Arab countries are more often interested in villas. These are people with an oriental mentality who like to receive a lot of guests, and they need spacious accommodation.
- There are many Russians among the buyers of villas. They tend to prefer small houses that are not too far from the sea.
- People from the Nordic countries show great interest in villas, as they want to live on the coast and enjoy sunny weather almost all year round.
One of the goals of buying a house is obtaining Turkish citizenship for investing in real estate. The cost of the facility, in order for it to meet the conditions of the program, must be more than $ 400,000. Since villas, as a rule, reach this threshold, buyers, it turns out, combine business with pleasure, having both a house on the shore and a second passport for themselves and their family at the exit.
In which region of Turkey should I buy a villa?
The Turkish coastline is very long, and there are suitable real estate offers in many places.
Houses in Turkey can be divided into two types according to their intended purpose:
- Urban. They are located in small resort towns such as Alanya, Bodrum, Kas, Kalkan, Fethiye.
- Suburban. They are usually built in the suburbs of large cities such as Izmir, Antalya, Mersin. Such villas are more often considered by locals, and proximity to the sea is not so important to them; they are looking for a quiet lifestyle further from the metropolis. Note that there are also urban villas in Antalya.
According to the location of the villa there are also two types:
- By the sea. Their advantage is their proximity to the beach and tourist infrastructure.
- In the mountains. Their plus is the spectacular views. From the windows and terraces of such houses there is a wide panorama of the sea, and sometimes of the city. In addition, the humidity is not so high on the hill, and in the heat it is cooler by about 5 degrees Celsius. An example is the Deshemealty district in Antalya, consisting mainly of villa complexes, or Tepe and Bektash in Alanya, expensive locations closest to the historical center of the city.
In Antalya, in addition to Deshemealta, many houses are for sale in the area of Molla Yusuf, Kundu, as well as in small towns of the province of Kemer and Belek.
In Alanya villas are mainly part of large complexes in Kargicak or small complexes in Avsallar, Payallar and Konakli. There are enough new offers in the Tepe and Bektash districts.
In Mersin, many villas are being built in Ayasha, Kyzylesi.
In the Aegean region, Bodrum and Cesme stand out.
Premium villas are mainly located in Bodrum, Fethiye and Kalkan.
Prices for villas in Turkey
In Alanyavillas range in size from 230 to 550 sq. m. Mostly 3 and 4 bedroom properties are for sale. The cost starts from 300,000 euros and reaches 2.5 million euros and above. You can look for easier and cheaper options, say, with an eye to a residence permit (that is, for 200,000 euros), but these will be houses that are more than 10 years old.
As of September 2024, the villas in Antalya costs an average of 600,000 – 700,000 euros, in Fethiit and Porridge – about 1 million euros, in Bodrum 1.5 million euros, but there are many more expensive offers, in the region of 10 million euros.
The market of the coastal regions of Turkey is mainly represented by new villas in a modern style, both detached and in complexes.
Complexes are several villas with different or the same layout, united by a shared territory and infrastructure. Residents can use communal swimming pools (summer and winter), children's playgrounds, a spa area, and a fitness center. As a rule, the complexes provide round-the-clock security and video surveillance. Another advantage is that the owner does not need to hire staff to maintain the villa himself, as the management company handles all issues.
Interest-free installments can be arranged for villas under construction. Many projects have the option of an "individual planning solution".
As a rule, the villas are located on a plot of up to 3-4 acres and have their own outdoor pool and garden.
Townhouses in Turkey are less common, but there are several offers in the complexes under construction. Their cost: approximately 250,000 euros.
Is villa rental in demand?
Villa rentals in the resort are in less demand than apartment rentals, as vacationers often have the main criterion of proximity to the sea. Nevertheless, there are those who are looking for a house.
Renting a villa for a week in high season costs from 2000 to 3500 euros, in low season the price drops by 2 times. An investor can expect an average income of 4.6% per annum.
Premium class villas bring 8–10% per annum. In Fethiye, one of the most popular places for short-term rentals on the Aegean and Mediterranean coasts, you can get a guaranteed income of 5% by signing a management agreement with a developer, or up to 12% if you do business yourself.
If you plan to earn money by renting a villa, you must:
- to clarify whether the villa complex has a corresponding license (if the villa is located in the complex);
- it is good to calculate the benefits and risks. On the one hand, the villa can be rented at a good price, since the lion's share of rental housing offers has left the market due to the inability to obtain a license under the new rules, on the other hand, there are not so many requests, and the maintenance (monthly maintenance plus taxes) is quite expensive.
How much does it cost to maintain the villa?
The maintenance of a villa costs at least 5 times more expensive than the maintenance of an apartment.
The final figure depends on what kind of infrastructure is in the complex. The minimum amount of the loan (payment to the management company for the maintenance of the complex) is 100 150 euros per month, the average is 300 euros.
If, for example, the villa has a separate swimming pool, garden, and the owner enters into an agreement with the management company for their maintenance, then services for cleaning a personal pool or garden maintenance will be added to the basic fee for the maintenance of the entire complex. The price is already increasing here.
The owners of a separate villa can involve third-party companies in cleaning the pool and maintaining the territory. In this case, the price is individual.
The owner of the house pays an annual property tax of 0.2% of the cadastral value of the property (from 400 euros per year).
Is the procedure for buying a villa different from the procedure for buying an apartment?
The procedure for decorating a villa does not differ at all from the procedure for decorating an apartment.
Upon purchase, the transfer of ownership tax is paid in the amount of 4% of the cadastral value of the villa (indicated in the tapu), stamp duty;(from 2500 to 3500 Turkish liras), environmental cleaning tax (about 1000 Turkish liras), as well as government duties and fees.
On average, the total cost of buying a villa worth 600-800 thousand is 10,000 euros, including taxes.
Is now a good time to buy a villa?
The real estate market as a whole in the resort regions of Turkey is now stagnating, so both villa owners and developers, of course, are ready to give in.
How has the market behaved in the last 4 years? During the pandemic, people needed private housing closer to nature more than ever, and house prices, driven by demand, were going up. Then the situation stabilized and a small correction took place. Further, in 2022, the boom of immigrants from Russia and Ukraine again stirred up demand for all real estate, including villas. This wave came to naught by the end of 2023, and now the marketcalm. In two years, prices have already fallen by about 30 to 40%.
In short, the moment to buy a villa is now a good one! Start by exploring the offers on the portal HomesOverseas.ru . Some objects come at a special price. Do not miss the opportunity to make a good deal!
Thank you for your help in preparing the material:
Ksenia Baldzhi, the head, and Svetlana Kalashnikova, the deputy head of the sales department of the companyLiga Real Estate
Aysun Teche, Marketing Director, and Zuhal Deniz, Marketing Manager, companyTekce Overseas(Antalya Homes)
Sofia Kristeva, Director of Company Development MeAntalya Real Estate
Photos used: Depositphotos.com , Liga Real Estate catalog
