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Alanya’s construction sector afflicted by increased minimum real estate price required for obtaining residency

  • 24.11.2023
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Alanya’s construction sector afflicted by increased minimum real estate price required for obtaining residency

Representatives of Antalya’s construction sector are preparing an appeal to the President of Turkey. What prompted them is the increase in the cost threshold of real estate, the purchase of which allows one to apply for a residence permit. Foreigners forced to pay $200,000 instead of $75,000 are rapidly leaving the market.

As a result, Alanya’s construction sector is facing a shortage of demand. It was largely facilitated by restrictions on rentals. According to the president of the Alanya Contractors Association (MÜTBIR), Mustafa Küçüker, these measures discourage potential investors. He also noted that work on this issue together with the Alanya Chamber of Commerce and Industry (ALTSO) and other interested organisations continues. It is likely that the answer to the appeal to the country’s president that is now being prepared will help put an end to the problem.

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