A Foolproof Guide to Real Estate Investment in Turkey
Many foreigners who are eager to experiment with real estate investment in Turkey are afraid of obstacles that may prevent them from achieving the success they seek or lead to the failure of their investment step.
When considering global real estate investment markets, several foreigners are choosing to buy property in Turkey.
Alhuda Real Estate Investment in Turkey answers all the investor's inquiries before embarking on the investment step in the field of Turkey's real estate.
Table of content
- Determine the factors affecting real estate investment in Turkey
- Determine the reasons for the high real estate prices in Turkey
- Make sure of the correctness of real estate prices in Turkey
- 7 tips to follow during your search for real estate in Turkey
Determine the factors affecting real estate investment in Turkey
Many factors affect the value of buying apartments for sale in Istanbul or any real estate purchase in Turkey of various kinds, including:
- The extent of the balance between the offers of apartments for sale in Turkey and the demand for them by investors.
- The geographical location of the properties offered for sale.
- The total area of the property offered for sale, i.e., apartments for sale in Istanbul or any other Turkish city.
- The economic factor is the extent of the country's economic development and the working climate in Turkey, which is considered the most rapid. For example, during the pandemic, Turkey was classified as the third least affected country by the effects of Corona.
- Natural factors, such as the weather and nature, are most beautiful in Turkey.
- General laws and real estate legislation, and here Turkey has the best legislative texts related to foreign ownership. In addition to its flexibility, Turkish real estate legislation knows periodically update for the benefit of foreign investors wishing to buy real estate in Turkey or apartments for sale in Turkey.
- The benefits expected from buying real estate in Turkey, that is, what are the expected benefits of owning the property in the future?
- The lifestyle and nature of society, and here Turkey mixes eastern and western culture in a married charm that is only found in it.
Determine the reasons for the high real estate prices in Turkey
Several reasons affect the rise in the value of real estate in Turkey, among the most important of which we mention:
- Infrastructure in Turkey is a significant and continuous improvement.
- The impact of inflation on real estate prices in Turkey.
- Real estate prices in Turkey are rising in line with the impact of supply and demand on the real estate market in the country.
- The significant economic transformations that Turkey has been witnessing for twenty years.
- Increased cash flow from the real estate market in Turkey.
- The remarkable renaissance and competition between construction companies to build the most significant, most beautiful and modern real estate projects in Turkey.
Make sure of the correctness of real estate prices in Turkey
Before you start negotiating the prices of apartments for sale in Istanbul, you have to determine the approximate price of your property through criteria, including:
The geographical location of apartments for sale in Istanbul
The investor should realize that the prices of apartments for sale in Istanbul in the centre differ from the outskirts of Istanbul. It concerns all types of apartments for sale in Istanbul, whether they are residential or commercial apartments. For example, the latter increases in price whenever they are close to malls and famous shopping centres.
Availability of modern transportation
The prices of apartments for sale in Istanbul rise whenever they are close to modern transportation. Here we mention, for example, apartments for sale in Istanbul in the Beylikduzu area.
The proximity to infrastructure projects and service facilities
Among the most famous Turkish cities with the most significant megaprojects is Istanbul. There are many projects of great importance currently under construction, such as the Valley of Life, Istanbul Water Canal and Istanbul New Airport.
In addition, there are ready-made infrastructure projects such as highways, the Bosphorus Bridge, hotels, resorts, tourism, parks, and others.
All of these constitute essential features for those wishing to buy a property in Istanbul. Being close to these infrastructure means necessarily ensuring the high prices of apartments for sale in Istanbul are standard quickly.
You should note that real estate prices in Istanbul near these vital projects are on the rise, but in general, the increase does not exceed 20%.
8 tips to follow during your search for real estate in Turkey
The process of finding the right Turkish property to invest in requires a tight strategy that relies on several points, the most important of which are:
1- Good inquiries regarding apartment prices in Istanbul
As you may encounter high prices unrelated to the actual cost of the house you are about to buy, paying attention to this aspect is very important when searching for Istanbul apartments for sale.
Therefore, the process of using experts in the sector, similar to reliable real estate companies in Turkey, is an excellent option to avoid any fraud as good agents help you know the actual prices and the value of the property before buying.
2- Avoid buying old Istanbul real estate
Often, such properties do not contain the necessary and required documents such as energy identity and earthquake insurance, in addition to defects in finishing and design, which often involves adjustment to obtain a luxurious finish with an expensive budget added to the purchase expenses.
3- The Transport Network
The proximity to all types of transportation is the most significant positive point that increases the demands on the property. If you decide to rent your apartment in the future, try to buy an apartment that guarantees this advantage for what it saves on the lessor of time, effort and costs.
4- Pay attention to the property's space
It is necessary to choose the property area according to the purpose. Often, the spacious apartments are very popular with families and tourists if you intend to rent the property.
5- View of the property
Whenever the view is attractive, freely, forested, etc., the greater the demand for your property, so be sure of this well.
6- Building standards
Ensure that the apartment you buy is subject to all the specifications of a modern and attractive building that is available on the standards of security, luxury and quality, as it makes you live in comfort and luxury.
7- Decor of the property
Make the decor of your apartment and kitchen furniture of high quality, and interior features significantly increase your profit rate.
As much as possible, provide your apartment with additional services such as the Internet, as these fittings increase your property's financial value if you want to rent it.
Suppose you intend to achieve high profits and financial returns through real estate investment in Turkey. In that case, we recommend that you follow these steps and consider the points mentioned above, as they are an easy and fast way to a promising and guaranteed investment.