Difficult times have come for the construction industry of Alanya. From October 16, 2023, the minimum threshold for real estate investments to obtain a residence permit in the country was increased from 75,000 to 200,000 US dollars, which forced many foreigners to leave the country and blocked the inflow of foreign currency from abroad. Representatives of the construction and real estate sector of Alanya, which is in deep crisis, called on the government to remove obstacles to the development of the industry.
Among the negative factors, market professionals also call the closure of four districts of Alanya in demand among foreigners for obtaining a residence permit, which has been in effect since mid-2022, and the recently adopted law making it virtually impossible to rent housing for short-term rentals.
The President of the Association of Contractors of Alanya (MÜTBIR) Mustafa Kucuker said that they have already contacted the Investment Office under the President, held a preliminary meeting and will travel to Ankara again next week on this issue. "The decisions taken simultaneously scare off investors and undermine trust.At least during the transition period, projects and sales signed by a notary should be exempt from the execution of these decisions.In addition, the established threshold needs to be reviewed," he explained.We continue to work on this issue together with the Chamber of Commerce and Industry of Alanya (ALTSO), the Association of Industrialists and Businessmen of Alanya (ALS304AD), TTPT and non-governmental organizations.
"Foreign investors, whose share in the total volume of transactions in the country is only 2%, have been shown as the reason for the rise in real estate prices in our country, but the main reason for the increase in value are industrialists...Our citizens who have formed such an opinion have seen that even during the recession there was no big decline in housing prices, and I hope that they realize the fallacy of their opinion," said Abdullah Tunger, founder of Seaside Alanya Real Estate.
Source: Yeni Alanya