16.11.2008
In Alanya at present more than 15 000 real estate objects are for sale. But it is not only valid for Alanya. For example, 1 million real estate wait for a new owner in Istanbull, in entire Anatolia it is 2 million.
After the real estate boom 2005 persons from almost all occupations worked as building constractors. Many of them do not understand nothing at all of the technical and the property market. The situation does not only harm the property market it also harmed the quality of the real estate. Additionally, the law situation past year disconcerted the market very much, as the Turkish government repealed the law for the purchase of real esteate for foreigners temporarily and the new law set with large delay.
The American Mortgage crisis affected also up the Turkish property market, as potential Turkish buyers wait for the fact that the prices continue to fall. In Alanya above all luxury real estate objects are hard to sell as building contractors and brokers put a high share on the profits.
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