Wholesale buyers active in the Antalya real estate market - Alanya and Konyaalti in focus

Turkey continues to be one of the most popular destinations for tourism and migration, both in Europe and the Middle East. In just one month, from April to May 2023, the number of real estate buyers in the country has increased by 23%, with the increase from 2,557 to 3,167 individuals. The main nationalities are Russians, Iranians, Ukrainians, Germans, and Iraqis.

Antalya is at the peak of popularity. With the contribution of Russians, Ukrainians and Germans, the region has surpassed Istanbul and the districts of Alanya and Konyaalti are in the center of attention. The low cost of living, $200 per person per month, and real estate prices attract foreigners.

According to the TGA, 108,000 apartments were sold in Antalya by September, although there are far fewer buyers in the market. In fact, there is a group of foreign wholesale buyers operating in the market. Some of them have bought as many as 80 houses individually and then rented them out to their compatriots.

This situation has led to growing concern in the region's tourism sector. The government has taken note of the industry's desire to control the situation, and a new bill is expected to be introduced by the end of the autumn that will attempt to resolve the conflict between local businesses and foreign investors.