Today, many new developments are being constructed to an extremely high standard, with a wide choice of homes for consideration when seeking a property to purchase or rent.
Luxury resort communities have been developed and sold in Side and the immediate surrounding area, including the areas of Colakli, Gundogdu, Evrenseki and Ilica.
Throughout the area, most new developments are specifically targeted at 'holiday home' buyers. However, with an increasing number of foreigners deciding to move to Side on a more permanent basis, small developments aimed at buyers for long stays or permanent homes are now also being built. Large-scale resort complexes are sometimes unsuitable for full time living, due to the increasing amount of residents renting their homes to holidaymakers, which can bring about irritating noise and boisterous behaviour in the holiday season. While this is perfectly natural, it can be disturbing when you are living on a complex 24/7.
It is still possible to buy a small older style 2-bedroom flat for around £30,000, which is what the majority of locals seek.
A more modern apartment in a resort complex will start from around £60,000, with prices rising upwards to £100,000. Duplexes tend to start from around £90,000 and detached villas are priced from around £180,000.
The property rental market is growing very fast in Side.
As an increasing number of visitors spend holiday time in the area, many return, which often leads to a property purchase. Property sales constantly occur with ALL nationalities including a huge number of British buyers!
As the supply and demand naturally grows, so the amount of rentals available also grows. This is great news for owners who are keen to capitalise on their purchase.
An adventurous type of renter is steadily evolving, many of whom look to rent a private home for their holiday or even a few months after their first-time visit to Side; many of these people have previously stayed in one of Side’s many all-inclusive hotels.
Although the all-inclusive hotels are well appointed and their facilities are superb, many guests seek more from a holiday. A limited view of the area, local cuisine and the region’s attractions are just three of the many disadvantages when one stays ‘all-inclusive’.
There is both a long term (permanent living) and short-term (holiday) rental market demand in Side and with no rental restrictions or conditions applying to any type of property, the investment and rental opportunities are endless.
Suffice to say, it pays to consider the type of rental use envisaged prior to any property purchase, for different homes will naturally suit entirely different markets.
Homes being let on a long-term basis will naturally stand to generate a much lower rent than their holiday home counterparts but the benefit of this is that there is less associated hassle!
Holiday homes tend to generate a higher amount of rent, yet a higher running cost will exist. A long - term tenant will pay all utility bills plus they conduct their own cleaning etc!