With a responsible approach and decent consideration, real estate in Turkey can become a reasonable investment. The correct choice of apartments in Turkey with a pool and many other facilities guarantees the safety of funds and high liquidity of housing.
The Turkish coast is a pleasant destination for permanent living and successful leasing. The Mediterranean climate and the architectural remains of the glorious past of the country attract visitors from all over the globe setting high demand on rental real estate.
However, such beneficial opportunities may be doubted if a buyer is not aware of the peculiarities of the purchase and specificities of the Turkish real estate market. So, what should a foreign buyer know about real estate in Turkey to become a happy owner?
Compelling Reasons for Buying Apartments in Turkey
Abstracting from emotions and using a balanced approach, each buyer should look through a list of convincing reasons to buy property in Turkey.
- Transparency and safety of a deal.
- Lower prices on real estate.
- Robust economy.
- Low taxes.
- Wide opportunities to conduct business.
- High annual yields and high liquidity.
- Well-developed infrastructure and tourism.
- Comfortable climate and life on the seafront.
- The concentration of historical, cultural, and natural wonders.
- Affordable cost of living.
Common Risks When Buying Real Estate in Turkey
The Turkish government constantly improves and simplifies the process of acquisition of property by local and foreign citizens. Still, there are some possible risks that can be reduced but not eliminated at all.
Working with unreliable people.
The risk to obtain a bad experience in buying real estate in Turkey is primarily connected with working with unprofessional real estate agents, lawyers, and developers.
Unfortunately, when investing in Turkish property you cannot rely only on yourself and perform all the actions. Simply because learning the specificities of legislation and the real estate market requires a lot of time. For this reason, it is crucial to find certified trusted people to use their services and be aware of each step they perform.
An extraordinary chance to buy exceptionally cheap housing.
If you believe that you can find a very cheap place to live in Istanbul or Antalya, you should explore the market deeply. With a minimum budget, it is very unlikely to buy a normal house or apartment.
To avoid such risk, it is better not to buy anything in this country. Good real estate is more expensive, which is logical. If you rent a cheap place, most likely in addition to its cost, you will have to spend another thousand dollars to improve the apartment or house you bought.
Registration of real estate in the name of Turkish friends or intermediaries.
Unprincipled real estate agents may advise foreigners to register property in the name of a Turkish citizen. It helps to save time and to obtain confirmation of the purchase more quickly.
However, it is not uncommon when friends and suitors suddenly cease to be friends and lose interest in the elect, even though it was a marriage. Even the apartment, registered in the name of the husband, can be sold without the knowledge of his wife. The only rational solution to avoid such an unpleasant outcome is to register property only in your name.
Investing in the off-plan property.
Property under construction seems more affordable as developers offer comfortable payment plans. The most dangerous situation that can happen is the bankruptcy of the developer. In such a case, a buyer will have all the documents and will become an owner of an apartment in the unfinished construction.
Then, you will have to wait for another developer to finish the building and deliver it with a possible delay. If you go this route, it is important to check both the company and the property.
Compilation of Turkish Real Estate
In the database of an aggregator with the good name Turk.Estate only verified objects from trusted developers are available. By selecting an apartment from the website, you make a contribution to the safety of funds and personal security. Turk.Estate offers stunning apartments on the seafront of high quality and reasonable prices. The extensive catalog is compiled and constantly updated to meet the needs and desires of foreign clients.
Final Statement
Each year, Turkey attracts more and more foreigners with the desire to buy real estate. Such an excitement about Turkish real estate is explained by many facts. Buying property in Turkey is profitable, promising, and generally has a huge number of advantages.
However, as with any serious matter, the purchase of an apartment in Turkey is worth taking very seriously and taking into account not only all the possible benefits but also the possible risks. Responsibility and awareness of common risks and ways of their elimination are useful helpers in making the right choice and long-term investment.
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