Investment in commercial real estate for sale in Antalya 2022

With a population of over 2 million and 500 thousand inhabitants, Antalya ranks fifth among Turkish cities in terms of population. The city's population grows at a pace of 1.5 - 3.5 % each year, which is faster than the country's average growth rate of 0.55 - 1.6 %, and the city ends up receiving up to 100,000 immigrants annually from all Turkish cities and from outside the country. The revenue made by commercial activities accounts for 34% of the city's total national income. The tourism industry is one of the city's largest and most important economic sectors. Annually, around 15 million tourists visit the city, and the city attracts approximately 25% of all international tourists visiting Turkey. In 2020, almost 4,500 new workplaces were developed in the city despite the Corona epidemic. What's noteworthy is that Antalya comes second only to Istanbul in terms of foreigners' willingness to locate their businesses in the city, and this has been demonstrated by statistics which indicate that the number of foreign-owned businesses has surpassed 4,000 in the city of Antalya.

Types of commercial real estate in Antalya:

Commercial real estate is defined as real estate that is used to conduct various economic operations and is classified into three different types. First, there are commercial shops and offices, followed by real estate utilized for tourism purposes, such as hotels and tourist amenities. Other business assets, such as warehouses and factories, come third.

First: Commercial shops:

Commercial shops are the most prevalent and sought-after type of investment in Antalya. In terms of location, the shops encompass many types, namely:

1- Standard shops:

These are located in local alleys and have the lowest prices owing to the small target demographic, which is generally the area's inhabitants. Groceries, stationery, household supplies, and other items fall under this category.

2- Market shops:

These are often found in city centers, amid packed public marketplaces and bustling streets, and are regarded as the most attractive since they cater to a diverse range of consumers. Because of the huge number of shops dispersed across their area, they are a popular destination.

3- Modern shops:

These comprise shops located within shopping centers or commercial complexes in the city, which are more expensive due to the many services provided by the administration of shopping centers and complexes. The number of these shops is restricted, with some of them seldom offered for rent or sale.

 

Second: Commercial offices:

Many entrepreneurs in the service sector opt to establish their businesses in offices since the city is a tourist destination known for its service sector. Offices are less expensive than shops, and they are utilized by a wide range of enterprises and professions. However, Antalya has a variety of office types, including:

1- Fixed offices:

They are the most frequent and classic style in the city. They differ in terms of space and options, and they are self-contained. The employer usually offers all essential services for employees in such workplaces.

2- Served offices:

This is a newer model than the classic one, in which the employer and his staff are given specific areas to operate in, while those in control of the complex offer all necessary services, such as secretarial, cleaning, and bill payment. This sort of workplace is more desired and costly since it allows the employer to concentrate on his job rather than wasting time providing services to his employees.

3- Shared offices:

They are communal offices with a large number of people working around large tables. This style of workplace is favored by self-employed entrepreneurs since it does not require a lot of space and is ideal for computer-based enterprises.

4- Virtual offices:

They are fictitious offices that are utilized by businesses that do not require a physical location and wish to use the office address when registering their business. They are the most affordable sorts of offices, and those in charge of the complex provide a variety of services, such as answering client calls and allocating meeting space as needed.

 

Third: Other commercial real estate:

Hotels, various tourist facilities, labs, various businesses, work centers, and other commercial real estate are examples of this category. Because Antalya is a tourist destination, there are several hotels in the city, with varying sizes and services, in addition to hotel apartments, Panchkula hotels, and camping squares.

 

 

Investment criteria for commercial real estate in Antalya:

Location and importance:

The site has an influence on commercial real estate prices and helps to guarantee that the property is not left unoccupied for long periods of time. The following are the most significant location preferences:

 

• It should be in the city center or one of the city's core districts, or on one of the city's busier streets, with a large commercial real estate frontage overlooking the pedestrian route.
• Commercial property is more likely to be found in complexes, marketplaces, or shopping malls that offer similar or integrated services. A convenient location in a busy area is a benefit.
• It should be in close proximity to major highways and public transit lines.
• It should be near important amenities and government institutions, such as medical and educational institutions, banks, ATMs, and other services.
• Special specifications: special attention must be paid to the description of the commercial property in the official paperwork in a manner that is acceptable for the project to be created, as well as ensuring that the commercial property has no outstanding obligations or taxes.

 

Commercial real estate investors should consider the following areas in Antalya:

Muratpaşa district, Kepez district, and Konyaalti district are the three main districts in the city center where concentration is centered in general.

 

Areas outside the city center:

Alanya is at the vanguard of Antalya city districts in terms of the importance of commercial real estate due to the high level of commercial and tourist activities compared to other locations, particularly the city center, where the majority of shops are situated. as well as the Mahmutlar neighborhood, which has recently emerged as Alanya's second most significant hub in terms of commercial real estate investment. However, the Kemer and Manavgat regions are two more places where investors are showing an interest in commercial real estate.

 

Prices of commercial real estate in Antalya:

Types of investments in commercial real estate in Antalya:

According to research conducted by the Central Bank of Turkey, commercial real estate investments recycle money faster than other forms of real estate investments. The following are several forms of commercial real estate investment:

Investment in commercial real estate under construction:

Many developers simply sell under-construction properties at very low rates in order to get the funds required to complete their real estate projects. The earlier real estate is purchased from under-construction projects, the lower the real estate prices will be compared to later phases of construction, and by the completion of the project, the prices of commercial real estate in the project will have grown by more than 40%. However, numerous factors must be considered, including the long history of the developers, their good reputation, and their expertise in the field of real estate development.

Buying and selling:

When real estate developers or private investors want quick cash, they may promote their current properties as reduced bids in order to expedite the sale. In this case, the investor must investigate the location and significance of the invested property, as well as the population density in the area to be invested in.

Investment for the purpose of leasing:

This form of investment is the most prevalent in commercial real estate investment because of its consistent monthly revenue and long-term increase in property value. In this scenario, the property's location is essential in the long-term rental process.

 

Average prices for commercial real estate in Antalya:

Antalya is one of the ten cities in the country with the greatest value of commercial real estate. According to projections for the year 2020, commercial real estate values have increased by up to 31% in the last four years. The going value of commercial real estate in Antalya is 3,328 Turkish liras per square meter, and the property's recycling of capital is projected to be 18 years. Shops have a greater price tag than other forms of commercial real estate. In Antalya, the average price per square meter for shops is 3704 TL, while commercial offices cost 3079 TL.