Recently, the real estate market in Turkey has become a safe haven for many investors in the world, and it is still flocked to it from various countries, and although this is a common topic among those interested and a lot of information related to it has become available to everyone, the investor always needs a comprehensive and adequate guide to accompany him.
For the importance of this topic, we at Right Way Real Estate chose to be a guide for every investor to get acquainted with the most important details of the real estate market in Turkey through us.
All you need to know you can find in this article.
The importance of real estate investment in Turkey:
1 - Real estate investment in general is one of the best types of investments in the world and not only in Turkey, so what if we are talking about developed and high-end countries such as Turkey.
2 - The Turkish state ranked fourth in the world among a referendum that took place among ten countries in terms of the importance of real estate investment in them.
3 - After the reciprocity law was abolished, the real estate market in Turkey has become a safe haven for many investors and money owners in the world.
4 - The Turkish government has greatly supported the real estate sector, as it has unleashed the construction of many real estate projects and provided facilities to foreigners that encourage them to take this step, such as reducing the imposed real estate taxes.
5 - Turkey has provided guarantees to the investor that make him feel comfortable and safe, such as the (real estate appraisal document) that accurately determines the value of the property and keeps him from being a victim of fraud and price manipulation.
6 - Real estate prices in Turkey are low compared to other important European countries and are also of high quality and international specifications.
7 - You can invest your money in Turkey in several ways, most notably renting the property and thus ensuring that you get a monthly return or reselling it again when real estate prices rise.
Elements of a successful real estate investment in Turkey:
If you are a real estate investor and want to invest your money in Turkey, you only have to look at these points that provide you with the best and highest returns.
- Choosing the location of the property in a thoughtful manner is one of the most important reasons for the success of your real estate investment (it is intended to be a privileged - - location, that is, to be close to public transportation - to have educational institutions and health centers near it - tourist places - malls and commercial centers).
- The greater the demand for real estate in Turkey, the greater your chances of obtaining high profits (you can take advantage of the tourist seasons).
- Make sure that your property is beautiful and modern by carrying out maintenance, renovation and modification work on a continuous basis so that it remains attractive to the tenants.
- The view of the property also plays a key role in determining its value and determines the extent of the demand that it will have (does it overlook the sea, the green spaces, or does it have a normal view of the city streets?).
- There is a very important factor, which is the city in which the property is located. Is it in Istanbul, Ankara, Antalya, or other Turkish cities? (It varies from city to city, real estate prices vary among themselves, and therefore the level of profit will vary).
- Ask yourself this question (Is the property old or new?) The more elegant and modern it is, and the more modern its decorations will help in the success of your investment.
The future of real estate in Turkey:
Among the information that a foreigner must obtain is the future of real estate. Will its value increase in the coming days, or will it remain constant? According to many studies, in the coming days, real estate prices will witness a significant increase for many reasons, including:
- The rise in the prices of raw construction materials and the fluctuation of the Turkish lira against foreign currencies.
- Turkey receives thousands of foreigners every month who come to it from all countries of the world in search of (work - study - stability - tourism - treatment) and therefore automatically real estate prices will rise.
- When we talk about tourism, Turkey is one of the first countries that stands out in memory because of its richness in tourist attractions and aspects of nature, and therefore it is witnessing busy tourist seasons that contribute to the increase in demand for real estate.
- The commitment of construction companies to design their projects according to the modern and upscale style, and by relying on high-quality building materials.
Among the most important tips that an investor needs in Turkey:
1 - If you want to obtain Turkish citizenship through real estate ownership, you must search for a property whose price is at least two hundred and fifty thousand US dollars + you will have to pledge not to sell it before three years have passed since the date of its purchase.
2 - Choose the area of the property carefully, as it is not recommended to buy a large-sized property, and small or medium properties are better because the demand for them is greater (you can sell them easily in the future).
3 - Find out about the future of the area in which you intend to buy a property. Are important projects planned to be established in or near it? Because this increases the value of your investment.
4 - Take a look at the legal status of the property, as there may be some restrictions imposed on it, such as seizure or mortgage (any of these problems negatively affect your property and its financial and investment value).
5 - It is necessary to use a real estate company with experience in the field of real estate in Turkey to help you find a property suitable for you and your budget. You should know that your dealings with a real estate company guarantees you a safe and risk-free investment.
We have provided you with an important article that contains all the information of interest to the real estate investor in Turkey, especially for whom this is his first experience. We hope that we have provided you with interest. If you have more questions about the real estate market in Turkey or the field of real estate investment, you can contact us to communicate with our consultants directly and get the most important tips and advice.
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