Clients often ask if Buying Property in Istanbul is a good investment. This has been a good question for decades, as the focus in the mainstream real estate market has shifted. From simply finding a home to making a good financial commitment.
Conditions such as home purchases, capital appreciation, and liquidity are factors that home buyers take into consideration. So, to answer this, let’s take a look at the current performance of the Buying Property in Istanbul. Higher interest rates slowed domestic sales, but overseas sales are at record levels.
In 2018, foreigners from many countries bought 40 thousand homes in Turkey. This trend will continue into 2019, and there are no signs of disappointment. That people in the industry estimate annual sales at 50,000 units. But why are investors flocking to the Turkish housing market?
Is real estate a good Real Estate investment in Turkey?
Can you be one of those who want to know if Buying Property in Istanbul? In short, the answer is yes. The assets in the real estate investment in Turkey offer excellent rates of return on investment. Given the annual rise in sales and rental prices. It is clear that Turkish assets are an excellent investment vehicle and the right choice for vacationers. And immigrants who want to continue living in Turkey. In addition, Buying Property in Istanbul offers investors a variety of options such as resale and purchase.
Today’s Origins
- Favorable exchange rates: The exchange rates between the lira and other world currencies are the highest ever. In short, buyers are getting more Turkish Lira than ever before in exchange for foreign currencies.
- Reasonable Prices: Surplus housing in some areas offers reasonable prices per square meter compared. To other countries that dominate the overseas property scene. In addition, due to the delay in entering the international real estate market in Turkey. The demand has been high over the past 20 years, but prices have remained low
- Easy buying process: The process of Buying Property in Istanbul is easy and fast. Which is a positive feature for investors. The Turkish government has enacted a number of regulations to enhance real estate purchase policies to encourage foreign investment. This makes the buying process easier than ever. Today, real estate buyers can complete the property purchase process in Turkey within three days. Which is extremely rare in the world. related page; What you need to know when Buying Property in Istanbul
- Great Features: Many developers focus on the latest builds with the latest builds and advanced home technologies. Most of the newly constructed projects are equipped with smart home technology. And communal facilities such as saunas, gyms and swimming pools. In addition, some Turkish facilities offer ultra-luxury facilities such as an infinity-edge swimming pool.
- Turkish citizenship: Foreign buyers who have purchased assets worth more than 250 thousand dollars in Turkey. And promised to keep them for three years are entitled to apply for Turkish citizenship. Turkish citizenship by Buying Property is a useful program for those. Who want to make a profitable investment and obtain a Turkish passport with their families. Which provides many facilities to its owners.
Therefore, while there are many opportunities in the market. It is worth doing your part to maximize the potential rate of return on investment. After all, this is the current buyer’s market and there are a few things you need to know. If you are planning to enter the Turkish real estate market as an investor, here are some important tips.
1: Reconstruction of property: high investment
Many people dream of having a traditional house, remodeling it. Making a profit and selling it, or retiring in Turkey all year round. However, the cost of upgrading an old house to modern regulations can reach thousands of liras. And in most cases it is not sold at the price require. To pay the repair cost and make a satisfactory profit.
2: Real estate to buy in Turkey
According to recent reports, self-catering villas cover 30% of the holiday market, which proves their popularity. However, find out which area you want to buy. For example, at Kam’s Aegean Resort, villas are rented out on the market. And require special marketing to gain market share. related page; Where and how to Buying Property in Istanbul?
At the same time, long-term rentals are rare, but they bring in low income. This is something to keep in mind, especially since you have to pay income tax. In addition to the marketing of rental housing, maintenance. Such as cleaning, maintenance, upkeep and bill payments are also factors to consider.
Each resident must be registered in the general government system. Management teams are often used by investors who live in other countries. Instead of going it alone, consider a rental guarantee ownership where a maintenance worker is done for you.
3: Financing real estate investment in Turkey
Some buyers have enough cash to pay for Buying Property in Istanbul. But some buyers need to raise money to buy through a bank loan. Fortunately, Turkish banks offer real estate loans to foreign property buyers. However, considering buying an off-plan plan with an installment plan of one to five years is a much better option. It allows you to take advantage of interest-free and unplanned rates. Why pay high interest to the bank when you can take advantage of the interest-free payment plan?
Other Tips About Investing in Turkish Real Estate
In short, Buying Property in Istanbul is a good investment. But you need to evaluate each region, what boosts sales, and the potential for growing your portfolio in the future. Contact us now if you would like to set up an offer. Or speak to your local distributor for advice and tips on entering the Real Estate Investment in Turkey.
