Wednesday, September 7, 2022

Summer Of 2022 - What You Need To Know About The Property Market!

Summer of 2022 - what you need to know about the property market!

Over the last year or so we have seen a favorable trend for properties in Alanya. Buyers are showing great interest in investing in the area in and around Alanya, and the sellers can now get prices that they could only dreamt of a few years back.

So there is definitely an upwards trend and good opportunities when it comes to properties in Alanya.

However, the situation also calls for a bit of caution because with upsides also comes possibly pitfalls for the inexperienced.

So let us take a look at how things stand now.

Why have prices gone up?

Since the spring of 2021 we started to see a positive inflow of new customers and interest from all parts of the world.

This positive trend continued into 2022 and the sad events in Ukraine only amplified this.

Currently prices and market interest have reached a peak level that we have not seen for years.

Be aware of low offers

Unfortunately, we see that some estate agents, caretakers and others try to take advantage of the situation by contacting homeowners and offering them prices that are way below market price.

They hope that you are not aware of the current spike in prices and will agree to selling 25 percent or more below market price so that they can resell for a quick and easy profit.
So always get a professional evaluation of your property if you consider selling.

Also you should never agree to a minimum price for yourself and then allow the estate agent to add what ever commission they want for themselves.

Always agree to pay the agent a percentage of the sales price and make sure that you control the asking price of the property.

Do not be too unrealistic

However, also it is important not to get too over optimistic and to expect an unrealistic high price for your property.

Then it will not be sold and the market might suddenly turn and you will end up having to sell for a lot less than you could have sold for.

We recommend always going for the sweet spot where you take advantage of the upwards pricing trend but also still set a realistic price that will get the property sold.

A volatile market

The current market is highly volatile. This means that there is a lot of movement, a lot of buyers and also many who wish to take advantage of the rising price and sell for a profit.

We also see that things can change very quickly.

For instance it was announces a few weeks back that additional resident permit will no longer be issued for foreigners in the areas of Mahmutlar, Kargicak, Kestel and Avsallar.

That has shifted a lot of potential buyers from these areas to other areas such as Cikcilli, Tosmur and Oba where resident permits are still issued to foreigners.

All in all things are moving in the right direction and there are definitely more positives than negatives.

So with a little bit of caution and guidance and assistance of professionals there are opportunities for both buyers and seller.

As you know 2Base is always ready to help and guide you no matter if you are a seller, buyer or just curious about knowing more.

So get in touch, we look forward to hearing from you!