Residential real estate investment in Turkey offers a wide range of properties at extremely attractive prices.
One can find simple, affordable studio apartments as well as luxurious penthouses and villas with sea views.
For foreigners, the popular tourist cities on the coast and the cultural capital Istanbul are particularly attractive, as a large number of cheap scheduled and charter flights are available here throughout the year.
Getting around the country is very easy thanks to the perfectly functioning public transport system.
For some people, the main reason for buying real estate is permanent residence and the possibility of obtaining Turkish citizenship in the future.
Others consider Turkish real estate as a profitable investment and plan to rent out their property or resell it and earn from the price difference.
What are the most important steps in choosing a List of residential real estate investment Turkey?
- The right choice of location for a real estate investment in Turkey, as it is of utmost and essential importance before any real estate purchase, as it is closely related to the value of the financial return in the future. This promises you a high return on investment.
The better the project area where your investment property is located is connected to various means of transportation, shopping centers, hospitals, schools, and infrastructures such as bridges, airports, and major projects, the higher the price of the property will be.
- It is important to know the type of property you will be buying, whether it is under construction or not, which will affect the benefits you could have.
- Choose the right type of real estate investment in Turkey and make the right decision about the type of projects you prefer, whether they are rental apartments, commercial properties, hotels, and others.
- Choosing the right time for real estate investment in Turkey. For those who want to invest profitably in apartments, this is usually the spring season, while the winter season is better for investing in offices and stores. As for the summer season, you can invest in certain areas that are more lively and profitable, such as Bodrum and Antalya. The autumn season is suitable for investors who want to generate large sums to guarantee private property.
- Choosing the right provinces for investment to get the biggest profits.
- The right choice for the view of the property is because you can have a spacious house balcony, but the view is not good, and this is one of the other negative points.
What are the types of real estate investment in Turkey?
There are many types of real estate investments in Turkey, depending on:
- The type of real estate.
- The purpose of the investment.
- The expected return.
Some people invest in real estate to reap the rewards of the investment and make a profit, while others do so for security and stability.
Every investment requires certain ingredients for success.
So whether you want to diversify your investment portfolio or invest for long-term success, real estate investing in Turkey is a good choice.
The diverse elements of the country make it an ideal location for a variety of investments in many fields with the possibility of obtaining Turkish citizenship.
Is investing in residential real estate in Turkey a good idea?
it is well known that the prices of residential real estate in Turkey have increased significantly in recent years and that all types of real estate, from ordinary apartments to semi-detached houses and lofts to independent villas or complexes as well as palaces and chalets, have become an important investment tool.
There are many advantages that have recently attracted the attention of investors to real estate investment by buying a villa in Turkey.
The most important of these is that the Turkish government grants real estate investors the right to a permanent real estate residence that is renewed annually for the duration of the real estate ownership.
In addition, the investor can obtain Turkish citizenship if the value of the property is $400,000 or more.
By purchasing a villa in Turkey, the investor can benefit from the advantages and facilities offered by the Turkish government to foreign investors, such as tax exemption and facilitation of purchase and sale procedures.
Apartments in Turkey have become the target of many foreign investors also, either with the aim of obtaining Turkish citizenship, which has boosted the real estate market in Turkey, or with the aim of investing in real estate for profit.
It attracts investors from all countries because of its advantages, the most important of which are the prices of cheap housing, despite the high advantages compared to housing in Europe, and there are unlimited opportunities for those who want to make a successful investment by buying a property in Turkey.
According to the latest statistics for 2021, the sale of apartments in Turkey to foreigners has reached a record high with more than 50,000 apartments.
So it can be said that the future of real estate in Turkey, especially apartments, which are in high demand due to the high rental yields they can achieve or even the profit they make when sold in the long term.
Among the main advantages of investing in this type of real estate are:
- The investor can buy a residential property under construction and wait until the construction is completed, then resell it before or after adding modifications, decorations, and furnishings to increase its price as much as possible.
- In real estate complexes, there are many apartments that offer more opportunities to the investor. In addition, there are security, social and recreational services that make it easier for the owner to find a suitable tenant for his property.
- The residential property is entitled to an annual government increase imposed on the tenant, which varies each year according to inflation.
- The many options meet the desires of the investor, either in the type of residential property or in the type of style.
- The owner, after collecting the value of the property, can rent the knife for several years, and then sell it again and make a large difference between the purchase value and the sale value.
- The owner of the residential property can sign a contract with the tenant for a period of one or two years or more.
- The monthly rental income effortlessly provides the owner with additional income.
- The owner of the property can evict the tenant if he does not pay the monthly rent or makes a change to the property that was not agreed upon. To do this, he must submit the lease agreement to the relevant authorities, who will take the initiative to evict the tenant if he violates the conditions he signed.
As far as investing in villas is concerned, Turkey with its beauty and climatic diversity offers distinctive options through high-quality, modern villas with excellent facilities.
Moreover, there are many investors who prefer to invest in residential plots rather than buildings because they want to construct their own buildings on empty plots according to their own plans.
What are the advantages and disadvantages of investing in residential real estate in Turkey?
Residential real estate investment in Turkey is characterized by the fact that the capital requirement for investing in residential real estate is lower than for investing in commercial real estate and that the investor benefits from his rent if he is not willing to sell it.
If the location is suitable, in a tourist area and close to important facilities and services.
Renting it will be easy and will give a good return whether you sell it or rent it. Besides, renting does not require much experience and knowledge.
As for the disadvantages of residential real estate investment in Turkey, renting out a residential property requires dealing directly with tenants and friction with them, and the investor may incur additional expenses and costs to restore or recover the property due to misuse.
There may also be difficulties in eviction if the tenant does not pay the rent.