The issue of real estate in Turkey has become a concern for many investors, capitalists, and all those interested in real estate sectors in the world and those who believe in the importance of this type of investment, in this article we will put in front of you a wide range of information and details related to the Turkish real estate market, if this topic interests you, feel free to follow this article with us to the end.
The importance of owning real estate in Turkey :
Turkey has become a very popular destination for real estate investment in recent years and it is not hard to know why this country offers a great life, and stunning landscapes, with very affordable prices but rising fast as many people discover the country’s many charms. Investing in real estate in Turkey is a great way to get a high return on investment. The Turkish government offers generous tax incentives to foreign investors, and the rental market is booming thanks to the increasing number of tourists who visit the country every year.
Will real estate prices in Turkey rise?
It is difficult to predict the future of real estate prices in any country, and Turkey is no exception. However, several factors can lead to higher prices in the future and these include population growth, economic stability, and infrastructure improvements.
The importance of real estate investment in Turkey
There is a wide range of reasons that encourage foreigners to invest in real estate in Turkey, check them out below:
- The Turkish real estate market witnessed a state of stability and strong growth, which made Turkey one of the countries that achieved the highest rates of economic growth during the past decade.
- Real estate prices in Turkey are still relatively low compared to other European countries.
- The legal system in Turkey is simple and easy; it protects the rights of both the seller and the buyer.
- The infrastructure in Turkey is well developed, making it easy for you to find what you are looking for, whether it is a house or a plot of land.
- Many tourist areas in Turkey attract a large number of tourists from all over the world, which increases the demand for rental properties.
- There are many installment payment options available in Turkey, which makes investing easier for Arabs and foreigners.
Buying real estate in Turkey in installments?
The installment sale system is widespread in Turkey, where you can buy a property in installments by paying a small amount of the total value of the property as a down payment and then paying the rest in monthly installments over some time. The most common installment plan is 24 months, but some banks offer installment plans of up to 60 months and there are many advantages to buying real estate in Turkey in installments:
- You can spread the cost of the property over a longer period, making it affordable for everyone.
- You can use the property while you pay for it (unlike in many other countries where you have to wait for the mortgage to be paid before you can move in).
- Installment plans are available from most banks and property developers in Turkey, so you have a wide range of options.
Owning real estate in Turkey under construction :
The most important advantage of buying a property under construction in Turkey is that you can get a mortgage from the bank to finance the purchase and you will only need to pay a small deposit when signing the contract, with the rest of the amount paid when the property is completed, this means that you can spread the purchase cost over some time, making it affordable for everyone.
Another advantage is that you will have more options when it comes to the location and type of property you want to buy as developers are always looking for new land to build on, so they are constantly adding new projects to their portfolio and this means that you should be able to find a property that meets your needs and your budget.
The importance of buying ready-to-move-in real estate in Turkey :
There are many reasons to buy a ready-to-move-in property in Turkey. Here are some of the advantages of buying this type of apartment in Turkey:
- You can get the property at a much cheaper price than the market value.
- The seller is usually in a hurry to sell the apartment, so you can negotiate the price.
- No need to wait for the apartment to be built.
- The quality of the apartment is usually very good because it is already built and inhabited.
- You can start living in your new home as soon as you buy it.
Owning real estate in rural areas of Turkey :
- There are a lot of opportunities for those who want to buy real estate in Turkey in rural areas.
- The demand for rural real estate is high, so prices are likely to continue to rise.
- Rural areas offer a more relaxed lifestyle, and many people find the pace of life more enjoyable.
- There are often more facilities available in rural areas than in urban areas, such as schools and hospitals.
- Rural areas tend to be less crowded than urban areas, so there is often more room to enjoy fresh air.
Steps to buying real estate in Turkey :
- Determining your budget is the first step in the process of buying real estate in Turkey. This will give you a clear idea of how much you can spend on the property.
- The next step is to choose the right location for your property as Turkey has many beautiful and famous locations for real estate, so take some time to search for the best location that suits you.
- Finding a Trusted Real Estate Agent or Lawyer When you are ready to start your real estate search, it is important that you find a reliable real estate agent or attorney who can help you with your purchase as they will be able to answer any questions you have and help make sure everything goes smoothly.
- The next step is to make an offer. Your real estate agent or attorney will help you negotiate a fair price for the property.
The most important cities to buy real estate in Turkey :
Before you choose the right place to buy real estate in Turkey, you should look at the most suitable cities to search for them, and here we talk about them and their most prominent advantages:
1 - Buying real estate in Istanbul :
Istanbul is a huge city with a lot to offer, and it is no wonder that many people are interested in buying property in Istanbul. If you are thinking of buying a property in Istanbul, there are a few things you should keep in mind:
- First, the city is constantly growing and changing, so you need to be prepared for some construction and traffic noise.
- Second, real estate prices can vary greatly depending on the neighborhood, so it is important to do your research before making a purchase.
- Third, Istanbul is a big city with a lot of people, so be prepared for a busy lifestyle
- Fourth, there are many different types of real estate available in Istanbul, from apartments to villas, so you need to decide what type of property you want before you start your search.
- Fifth, if you are not fluent in Turkish, it is important to find an experienced real estate agent who can help you navigate the process.
2- Buying real estate in Ankara :
If you are thinking of buying a property in Ankara, there are a few things you should keep in mind:
- First, prices go up quickly, so you have to be prepared to pay more than the asking price.
- Second, there is a lot of competition for real estate, so you need to be prepared to move quickly when you find something you like.
- Finally, it is important to hire a reputable real estate agent who knows the market well and can help you navigate the process.
3 - Buying real estate in Antalya :
Antalya is a city located on the Mediterranean coast in southwest Turkey and is the largest city in the Turquoise Coast region of Turkey with a population of over one million people and is a popular tourist destination, especially for beach holidays.
If you are thinking of buying property in Antalya, there are some things you should know:
- The first is that the city is divided into two main parts: the old city (Kaleici) and the new city. Kaleici is the historical center of Antalya and is full of narrow streets, Ottoman houses, and ancient ruins the new city is more modern and developed, with wider streets, tall buildings, and more amenities.
- The second thing to know is that Antalya has a Mediterranean climate, which means that it has hot, dry summers and mild rainy winters and the best time to visit Antalya is during the summer months (June to August), when temperatures are at their highest and there is little rain.
4 - Buying real estate in Izmir :
Izmir is a city in Turkey located on the coast of the Aegean Sea. It is the third largest city in Turkey with a population of over 4 million. The city is a popular tourist destination and is also home to many universities and colleges. Izmir enjoys a Mediterranean climate with hot and dry summers and mild and humid winters.
Real estate in Izmir can be expensive, but it is possible to find affordable properties. If you know where to look, many new projects are being built in the city, so there are plenty of options to choose from.
5 - Buying real estate in Trabzon :
Real estate prices in Trabzon have been on the rise in recent years, due to the growing popularity of the city. However, prices are still relatively reasonable compared to other major cities in Turkey. If you are thinking of buying a property in Trabzon, there are a few things you should keep in mind:
- First, it is important to have a realistic budget
- Second, be sure to do your research on different neighborhoods before making a decision.
- Finally, work with a reputable real estate agent who can help you navigate the process and find the perfect home for you.
What will be the reality of the real estate market in Turkey?
The real estate market in Turkey has been on a very fast track in recent years and after reaching its peak in 2013, prices have fallen by more than 30% in some areas in the wake of the currency crisis, the market has since recovered and prices are back up again, backed by strong demand from both domestic and foreign buyers. Looking ahead, the future of the real estate market in Turkey looks promising as the economy is growing at a healthy pace and the government continues to invest heavily in infrastructure projects, which should help support the demand for real estate.
Number One Real Estate is a leading real estate company in Turkey that offers a wide range of services to its clients, including real estate buying and selling, rental services, and property management. The company has a team of experienced real estate agents who are well-versed in the Turkish real estate market and can provide comprehensive advice to buyers.
- We have a database of thousands of properties for sale in Turkey, including apartments, villas, plots of land, and commercial buildings.
- As a result of our strong relationships with developers and other real estate professionals, we can obtain properties at competitive prices.
- In addition to assisting with the buying process, we offer assistance in renting or managing your property in Turkey.
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