Foreign sales in Alanya have plummeted
The Turkish Statistical Institute (TÜİK) reported that property sales to foreigners decreased by 32.1% in 2024, while representatives of the real estate sector in Alanya stated that the decline was 80%. Real estate professionals in Alanya emphasized that the main reasons for the drop are residency restrictions and the requirement of a $200,000 property purchase. They urged the government to take immediate action.
According to TÜİK’s 2024 data, property sales to foreigners declined both nationwide and in Alanya. Nationwide sales decreased by 32.1% compared to the previous year, totaling 23,781 transactions. The year 2024 was marked as a critical year of decline in property sales to foreigners, accounting for just 1.6% of total property sales. Among foreign buyers in Turkey, Russian citizens made the most purchases (4,867), followed by Iranians (2,166) and Ukrainians (1,631). In December, Alanya remained one of the top destinations.
Property sales to foreigners dropped by 80%
Abdullah Tuncer, President of the Alanya Real Estate Agents Association, noted that the decline in property sales to foreigners has been gradually decreasing since 2022. He emphasized that neighborhood-based residency restrictions and the $200,000 property purchase requirement were key factors contributing to this drop. He also pointed out that stricter regulations on short-term rentals have exacerbated the sector’s challenges. Tuncer stated: “We are seeing a decreasing trend in interest from foreigners. There are many reasons for this, and the government needs to take action to address it.”
Government intervention is needed
Another representative of the real estate sector, Özgür Erbaş, President of the Alanya Real Estate Agents Association, highlighted that the decline is due to various reasons, including government policies. He said: “One of the main reasons is the government’s decisions, such as closing certain neighborhoods to foreigners and imposing restrictions in areas where the foreign population exceeds 20%. For this issue to be resolved, government intervention is necessary. Without action from the authorities, the chances of improvement are very low. We have always advocated for not restricting individuals who bring foreign currency and investment to the country. At the very least, temporary solutions for one, two, or three years could be implemented.”
Erbaş noted that these restrictions have harmed not only the population but also some commercial activities in the sector. He warned: “If this process continues, the real estate sector in Alanya could face an even bigger blow. In places like Alanya, the foreign currency brought in by foreigners significantly supports the economy. Thanks to foreign contributions, the city’s economy thrives. Moreover, 60–70% of the coastal region’s population consists of people who have moved here from other parts of Turkey. These people send the money they earn here back to their hometowns. Thus, this situation will affect not just Alanya but Turkey as a whole.”
Solutions to improve the situation
In conclusion, the decisions and restrictions imposed have led to a 32.1% decline in property sales. Özgür Erbaş proposed solutions to address the situation: “If this process is reversed, there could be significant improvement in Alanya. However, for this to happen, the government and authorities must prioritize this issue.”
