Pros and cons of purchasing of secondary housing in Turkey

Secondary housing market in Turkey is quite rich and offers so many nice properties. However, in the past 5-6 years we started seeing more protected complexes and villas being built, constructed for the resort purposes and possessing extensive infrastructure: pools, sauna, ham am and steam room, tennis and volleyball courts, kids play zone, cafe, restaurant and supermarket. In this regard all offers of secondary real estate in houses that are older than 7-8 years qualitatively differ from primary housing. Yes, in such housing you will be able to get similar area 20-30% cheaper than the average price of new housing, so the question is whether the game is worth the candles?

If we talk about a secondary apartment or a villa in a complex constructed no more than 5 years ago, prices there can be 5-7% lower than of new housing, and even more if the object is in a unique complex which has no analogs on the primary market. Generally such uniqueness depends on land, after all it’s rather irreplaceable and strongly influences real estate prices. For example, in Alanya there is one complex practically in the centre on the first coastline with extensive infrastructure and high-quality repair. In spite of the fact that the builder started selling it only when the complex was completely ready (instead of at a construction stage as it often occurs), in 3 years since the beginning of sales the price grew by 30-40%, and for some apartments even by 50%.

If we’re talking about the secondary market of Alanya as a whole, it should be noted that prices are sometimes higher than for primary housing because of high density of building and high cost of land. However, from time to time there are delicious offers like, for example, a complex in the heart of Alanya on Cleopatra beach with very high-quality finishing and big sized apartments. There are also very interesting secondary offers, which you can see on our website in the secondary housing section.

The most attractive from the point of view of acquisition of secondary housing on the Mediterranean coast, is Mahmutlar, which is in 12 km from Alanya: practically all offers from the owner – apartments in complexes with the pool, and sometimes already with a sauna and a gym, aren't farther than 700 m from the sea (because of the geographical position of the town) and the prices can be 10-15% lower than from the developer. For example, there is a fine offer of the good 2+1 apartment with furniture for €57,000.

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If we’re talking about new projects in Mahmutlar, they are generally 150-400 m from the sea and for €45,000 it is possible to buy one-bedroom apartment no more than 60 m², and the price of a 2+1 starts from approximately €65,000. Advantage in this case is the warranty on internal finishing which on secondary options is non-existent. On the other hand, in the secondary market for €99,000 it is possible to get the furnished apartment with excellent furniture and equipment in a complex with the pool, a sauna and the fitness centre overlooking the sea.

In Antalya apartments and especially villas from owners aren't so attractive in the price/quality ratio and liquidity, compared to Mahmutlar. A lot of things depend on the area. The resort real estate is under construction in two areas, Lara and Konyaalti, as only from these areas there is direct access to the beaches. Apartments in Konyaalti in 300-1200 m from the sea are being resold next to the new complexes, where it is possible to buy housing under construction for only 5-7% more from the developer or at the same price as secondary with payment by instalments.

In Lara region it is possible to buy mostly secondary options, as new construction is conducted there very rarely because of lack of new land. Kundu, on the other hand, is being quite actively built up, the situation is similar to Konyaalti: secondary options differ from new housing by 5-7% at most. It would be necessary to mark out only one thing: buying the apartment in Kundu, you have to be ready to a distance not less than 1000 m from the sea and to quite poor city infrastructure. In Lara distance to a beach is on the average about 3 km as all area is on rocky part of the city. Though if you like a small trip to the beach (which is sandy in Lara) doesn't frighten you and you are ready to overpay 20-40% for the similar apartment in Konyaalti – it is worth paying attention to Lara.

And in the end a couple of words about Kemer, such a favourite vacation spot of our compatriots. It is necessary to be ready that the prices in Kemer are some of the highest on the market. At the price of the small 2+1 apartment in 4 km from the sea in Kemer or Chamyuva it is possible to buy a 2+1 150 m from a beach in Mahmutlar. But if you are nevertheless attracted by Kemer – welcome, on our site is both primary and secondary options. The difference in the price of objects from the builder and from the individual within walking distance to the sea and not earlier than 2005 of construction will be insignificant: 3-7%, depending on infrastructure in a complex and construction level.

Certainly, meet and "burning" offers as, for example, here this apartment 2+1 in Kemer's centre for the price of €75,000, but is it in a complex without pool and is on sale without furniture and fittings. If to consider option in rather new residence with the pool, for €88,000 it is possible to get the apartment of 75 m2 in 600 meters from the sea in Chamyuva (the settlement in 10 km from Kemer). If you reflect on apartment or villa purchase in Kemer, it is necessary to pay attention to the fact that in the winter here life almost completely fades, and because of quite poor city infrastructure the standard of living in own residence here considerably concedes to a standard of living in Alanya or Antalya.

Whichever option you would choose, whatever district of beautiful Turkish Riviera you would choose, we are always glad to help you make the right choice and acquire the most comfortable real estate.

Author: RestProperty

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Published: 11.12.2012