How do you guarantee huge income by renting your property in Turkey?
The goals behind buying a property in Turkey differ between looking for housing, investing in real estate or renting the property to recover the purchase capital within a specific period of a few years.
Among the options mentioned above, investors buy and rent real estate in Turkey to guarantee additional benefits and money. This method is very profitable, especially after increasing house and apartment rental prices in Turkey during the last three years. In addition to this, the increasing demand for leasing by foreigners and Turks encourages investors to pursue this efficient method.
This excellent investment step in Turkey's real estate market enables all those interested in renting real estate to achieve large monthly, seasonal, or annual profits. Alhuda helps you for real estate investment in Turkey to carry it out according to the correct principles and sound rules that ensure you achieve your planned plan and desired goals.
To achieve this, we propose to you this informative article that explains the process of renting real estate in Turkey more abundantly and supports you with tips and instructions that make it easier for you to rent your real estate in Turkey.
3 Questions to ask yourself before renting out your property in Turkey
- What is my goal of renting a property in Turkey?
Firstly, you have to determine your main goal of buying a property in Turkey to ensure the success of your investment.
- Why should I rent out my property?
The second question that you must ask yourself is, what is the purpose of renting your property in Turkey? What are the motives that make me take this step?
The reasons for renting a property in Turkey are many, and the most important of them are:
- Keep the property for the children.
- Obtaining an additional and stable financial resource.
- Paying debts and monthly taxes for buying a property in turkey.
- Renting real estate in Turkey is waiting for real estate prices to rise in Istanbul, and then selling it.
- When is the Best Time to Put Your Property on the Market to Rent?
Turkey is one of the few countries in the world where the demand for renting houses and apartments does not stop throughout the seasons. Still, it is strikingly prominent in the summer, as families prefer to change their rented homes and the recovery of tourism and the increasing demand for renting apartments to spend holidays and enjoy time in independent apartments far away from the crowds of hotels.
To rent real estate in Turkey .. Types you should know
The process of renting real estate in Turkey is divided into several types according to the period, season, nature of the lessor, and property type. Here we find:
- Daily and weekly rental
- Monthly rental
- Seasonal rental
- Annual rental
- Renting offices and shops
- Youth housing rental
- Student housing rental
- Furnished apartments rental
- Hotel rental
- Villas for rent
Note: Every investor must, before buying real estate in Turkey to lease them, determine the appropriate pattern for him to buy the property that is compatible with the standards of each type and thus increase the expected profit.
Like what we mentioned in the note in the above paragraph, the process of renting real estate in Turkey is subject to standards that must correspond to the type of property and its conditions, and to achieve this, a set of criteria must be taken into account, the most important of which are:
- The interior and exterior design, and distribution of rooms and space should be completely compatible with purchasing the property and the type of lease that the investor wants to present to the tenant.
- The appropriate area for buying a property, where the geographical location of the property plays a vital role in determining the value of the rent and the value of the property itself, and here the foreign investor must focus on the most crucial point is to buy a property in the appropriate area for leasing. In a place close to transportation and tourist areas, unlike student real estate, which should not be far from universities.
- The need for the rental value to be appropriate to achieve the established goals. If you are not looking for a stable financial resource, the property purchase's cost and location do not matter. Still, if you are looking for a high rental return, then here you have to choose the property that is entirely suitable for profitable rental.
How to achieve a high rental return with low capital while buying a property in Turkey?
The Turkish government offers a range of facilities, including:
- The possibility of borrowing from a Turkish bank at a rate not exceeding 40% of the total price of the property.
- Buying a property under construction where the prices are lower and the completion period allows you to pay the amount comfortably.
- Searching for a partner while buying a property in Turkey, if it purchases hotel apartments with a high amount, villas, and other luxury properties.
- Investing in shops and offices because they have higher rental returns than residential real estate.