Buying real estate in Turkey is the best investment

Before taking your first steps in real estate investment in Turkey, there are a few steps to consider. The steps for choosing a real estate market is to first determine the city and then find the perfect neighborhood to buy a property. Many of the best places to invest have similar characteristics.

According to the real estate market trends and statistics, it will be easier for you to find a suitable property in such a location where you can rent or resell the apartment. Factors to consider before choosing real estate in Istanbul.

Numerous options for tracking your purchase of real estate may be of great profit. We'll show you part of it. In addition to some tips that will make your real estate project very successful.

On the other hand, the process of real estate investment in Istanbul is among the most successful investments in the world, according to what local and international statistics show, which confirms that the process of buying apartments for sale in Istanbul has become one of the best and most distinguished economic activities and attracts many leading energies during the last five years.

Although these global and local statistics regarding the purchase of apartments for sale in Turkey, the curiosity of those wishing to buy real estate in Turkey leads him to ask more questions and inquiries about whether the real estate investment in Turkey was successful?

Rental returns

Rental properties are a typical type of real estate investment in Turkey. Real estate is a good source of regular income, with rental yields of 8-11% versus 2-4% of residential properties. Maintenance of commercial property is much easier than maintenance of residential property. This requires limited management as these properties are handled by professional project maintenance agencies.

Another positive point is that investors do not have to spend on furnishing the property, as the tenants furnish it according to their taste and requirements. For residential properties, a short-term lease is preferred.

property sale

Finding the right buyer is a slow and difficult process to dispose of or liquidate real estate assets. If you have invested in commercial property related to a particular industry, the economic situation plays an important role for commercial property. If the market slows, it may be difficult to find a buyer and sell the property.

You may even have to give up some things like rent. However, there is one possibility with commercial real estate that you can sell in part, as opposed to a condominium.

exchange rate

The rise and fall of the Turkish lira is one of the factors to consider if you want to make a real estate investment in Turkey. The exchange rate of your currency to the Turkish lira will benefit you with huge profits or cost you money.

When dealing with Turkish currency for your money, timing plays an important role considering that the Turkish currency has lost 30% of its value over the course of a year, giving you a 30% discount. As a result, when the Turkish lira is weak, it is crucial to invest in Turkish real estate.

With recent declines in the strength of the Turkish lira, prices have become more affordable for foreign investors. With so many different options offered by many cities and the ever-increasing demand for real estate both internally and from abroad, real estate investment in Turkey is now desirable.

When should you invest in real estate?

Location is an important factor for many people while investing in real estate. Time is also a major factor in an investment decision, as it can affect the long-term profitability of your investment.

Since you may be required to pay a down payment of 3% to 20%, the best time is when you have financial stability. You will also be responsible for closing costs from 2% to 5% of the property's purchase price. Besides these rates, there will be other payments like mortgage payments, property taxes, maintenance, utilities, etc. To cover these expenses and avoid debt, financial stability is required.

Before making a purchase, you need to do your research to minimize risks and maximize your return on investment. First of all, you should do a real estate market analysis of the place you want to invest in. It is also necessary to analyze different neighborhoods using metrics such as rental income, listing, price, and cash return. Other important factors to consider while analyzing a neighborhood are population and economic growth, crime rate, local news, and utilities.

What are the suitable cities to invest in?

Foreigners are interested in buying real estate in Turkey to keep as a vacation home or put up for rent to generate a second annual income. With the continuous development in Turkey, it has turned into a luminous torch that attracts tourists and investors. However, there are many cities with different benefits for real estate investment in Turkey.

Istanbul and Trabzon were in the ranking of the best investment cities in Turkey. Huge metro tunnels, trams, and tourist areas make these cities economically and commercially attractive.

The most popular city among buyers in the Middle East is Bursa. The city has a lot to offer, such as beautiful Ottoman buildings, thermal baths, green parks, gardens, historical sites, and mountains. To enjoy skiing and snowing, you can go to Uludag Mountain in Bursa. Real estate in Bursa remains cheap all year round, but the new Osmangazi Bridge has reduced commute time to Istanbul to one hour, so prices are likely to go up.

Frequently Asked Questions

Is buying real estate in Turkey safe?

Buying real estate in Turkey is very safe and simple if you do things right and work with a professional real estate company who knows what they are doing.

Is it good to invest in real estate in Turkey?

Investing in Turkish real estate is beneficial because of the high liquidity in it. The demand for apartments in residential complexes that provide various services and are located in areas with well-developed infrastructure increases throughout the year. They are also attractive for resale.

Is this the right time to buy property in Turkey?

Buying real estate in Turkey is a long-term and profitable investment. Despite the worldwide COVID-19 pandemic, the market offers unmissable opportunities, especially for foreign investors.

Can you buy citizenship in Turkey?

You can buy your way to Turkish citizenship since January 2017

Can foreigners obtain a mortgage in Turkey?

As a foreigner, it is possible to obtain a Turkish real estate loan under the appropriate conditions.

What are the profits of investing in Turkey?

Among the profits that you can achieve from real estate investment in Turkey in general is a high investment return, Turkish citizenship in return for owning real estate in the amount of only 250 thousand US dollars, in addition to guaranteeing the rental of real estate if the investment is for this purpose, as Turkey is among the first seven countries in The world, which receives the largest number of tourists, especially those who want to rent apartments instead of going to hotels. Among the most important real estate investment gains in Turkey is investing in an environment that does not depend on growth, as Turkey is expected to be among the ten most powerful economies in the world by 2030.