Real estate developments in Turkey

I did some research on property prices and practice around Alanya (and Mahmutlar specifically). We bought December 2021, just before the bubble came (EUR 189 K), around EUR 1.000 per sqm. Than until 2023 prices exploded (the value was estimated to be around EUR 350 K), but since than a strong collapse and now we are at something between 150 EUR K  and 200 EUR K (net after expenses). (and we would have to move as well (additional costs significantly). We are still happy in Mahmutlar and no immediate reason to move, so that is good (but Ikamet extension, health and geo political developments are always hovering above). I asked Arificial Intelligence about it (very useful even if only for confirmation). Many properties are on the market (incredibly many), and stil mostly 1+1 and 2+1, still often listed at overpriced levels (I understand if bought at much higher than realistic levels, ..). One can see in Turkish newspapers that property prices have increased quite significanlty (but in my view well below inflation).

Recently it has been mandatory to report properties for sale, but no statistics, I have asked AI to see how many properties are for sale on Real Estate websites (for Alanya quite a bit, well over 7.000 (but one property can be listed for a few times). Still compared with the population, it is actually quite shockingly high. I do not  expect a big increase in price shortly (of course removal of closed districts and making extention of Ikamet or initiation thereof more easy it would help).

Bottom line a good place for new buyers at a quite a good price, not so good for expats who already live here and especially those who bought at the peak.

Let us see where it goes. Turkey remains a good place to live. (BTW I hate megacities)