Do you want to invest in Turkey? Here’re the pros & cons
If you want to invest in Turkey, then you must evaluate the pros and cons of the market with objectivity. Because although the market is growing at an unprecedented rapidity and attracting foreigners from all around the world, it isn’t for everyone.
Somewhere among the hype and noise, you can lose the essence of the experience and its corresponding expectations. For many to invest in Turkey has become a trend with no substantial value; either undermining the risks or exaggerating the benefits.
For this reason, our real estate consultants have put together everything you need to know if you want to invest in Turkey. From the pros to the cons, putting the market under the microscope to give you the full scoop.
The pros and cons of real estate investing in Turkey
Pros of Turkey’s Real Estate Market
Turkey’s market is just recently entering the global table with unparalleled force and speed. For foreigners from all regions of the world, the market is an unreasonable attraction. And there is definitely a good reason for the success and rapid growth of the market. So, let’s get through that first!
If you want to invest in Turkey, the prices are very appealing. This is because the market was generally late to enter the global scene. Where you can own luxurious property for an insignificant sum in comparison to other countries.
To be a foreign investor in Turkey doesn’t entail being a major business which gives a large segment of people the opportunity to invest in Turkey.
Real estate in Turkey unites both the biggest businessmen and beginners in property investment with its special opportunities. Another factor that any person regardless of their income can’t overlook is the rare need for bank credit or mortgages. Especially for foreigners, real estate in Turkey is relatively affordable.
2- Guaranteed Investment Returns
Despite being affordable, which is an opportunity attributed to the market’s late appearance internationally, investing in Turkey is low risk. Investment returns are almost always guaranteed if you invest in Turkey.
This is due to the appeal of the market where it is gaining the interest of the Arab market as well as the Western market; which an influence that no preceding market was able to achieve.
Turkey’s active construction of massive projects from its east to its west will locally influence the prices in the region. If you want to invest in Turkey, perhaps consider strategic projects. For instance, ones near big projects that will raise the prices in the region close to them.
3- Invest in Turkey for Turkish Citizenship
Turkey knows how to keep its market hot, now offering citizenship to investors. But there are conditions that you must meet beforehand. For instance, the government is willing to give Turkish citizenship to investors owning property for $250,000. You can own one property for this amount of money, or several properties that amount to this sum.
Another condition is to hold on to your property for over 3 years. Once you meet these conditions, you become eligible for Turkish citizenship by law. Owning property under this margin will earn you a permanent residence permit that requires annual renewal.
This is one of the leading factors in the growth of the market and its global appeal.
Investing in Turkey has become a trend owing to the stability of the market. Ever since Turkey resurfaced as a destination for real estate investors, predictions for its performance have been turbulent. But time and time again the market proved its stability, performing against expectations.
When factoring in its performance ever since it emerged to the global race, Turkey’s real estate market breeds trust and confidence in investors.
5- Invest in Turkey, Invest in Versatility
Turkey’s landscape is picturesque and diverse with projects popping up all over the country, each capturing through its windowsills a rare glimpse of its beauty. In any real estate market, we know views sell. So when you have all these opportunities of nature intertwined with architecture producing masterpieces of projects, it’s hard to overlook the potential. Particularly since these locations offer flexible project types.
From its extensive coasts to its mountains, forests, and shrubs; Turkey is the perfect investment destination. It gives you the flexibility to turn your project into a vacation house or if you’re a big businessman invest in an entire project somewhere near the magical scenery of Turkey.
Consider the Cons if You Want to Invest in Turkey
Real estate in Turkey is similar to any other with its pros and cons. Now that we have evaluated the pros, let’s go over the cons.
1- The Market is Recent
Turkey is witnessing an urbanization wave that makes the desire to invest in Turkey both convenient and inconvenient. While this contributes to the low costs, the opportunities are sparse. The projects are limited, which although makes the value of investment significant, perhaps cuts short on the opportunities. The good news is that the number of projects currently under construction outweighs what’s available. Experts predict this issue to subside in a few years.
2- Low Risk isn’t Risk-Free
It’s important to not perceive the market as all daisies and fairies. Is it true that you have a higher rate of investment returns? Possibly, but that’s not a given. Any market requires studying and if you want to invest in Turkey, this is no different.
There are a set of factors to consider. From your objectives to expectations. A qualified real estate agent will help you understand the potential risks and how to avoid them. Our experts generally recommend investing in areas rich in commercial activity.
3- Inability to Fulfill Your Mortgage
In Turkey, payment and installment options are very flexible for foreigners. But while the majority can make payment at once, some are incapable of doing so. Typically in this case you’d have to make an advanced payment usually between 30% to 50% of the total price. As for the rest, you’d pay it through an installment plan.
It isn’t uncommon to see many foreigners getting entangled in payment plans beyond their budget. Projects with the highest return rates are in commercial areas that naturally have high property values. So, in this case, you have to carefully study your options. If you are unable to safely afford big projects, there are projects that are more affordable and have giant long term returns. In fact, you can exploit affordable projects in many ways that give you the ROI you are after with no serious consequences.
Turkey has dominated the forefront of the global table in a short period of time. Many want to invest in Turkey owing largely to its numerous benefits where there are overflowing opportunities. The demand is growing and experts predict this is only the start. Prices are about to rise in the near future giving the market a new face.
Earning the interest of both Europe, the US, and the Arab Market; the competition is fierce and the risks are low. From the stability of the market that naturally breeds trust to the flexible payment plans that help investors gain anchor. In addition to the benefits, the Turkish government provides from facilitated offers for Turkish Citizenship to permanent residence permits.
Not to forget the distinctive features of Turkey’s natural scenery that holds big potential for fast returns. With the jewel to the crown being the affordable prices and luxurious modern designs of the projects.
Contact Our Experts
If you want to invest in Turkey and need professional guidance, you can book a free online consultation with our real estate consultants at Al Huda. We’ll help you find the best project based on your investment expectations and payment plans.
You can also have a look at some of our projects by visiting the link here.