A clear idea of leasing real estate in Turkey, and its investment benefits besides the success factors for investing in this sector.
Renting real estate is a good way to get a stable income, but few new investors know how to select good real estate for investment.
Here is an overview of what an owner should know about leasing a property and how to invest well.
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In Turkey, renting a property has become one of the most important investments that a wide range of foreign investors aspire to; hopefully to benefit from the positives of this project that are in their interest, and achieve a good profit margin.
Perhaps this investment tool is one of the reasons for the steadily increasing demand to own real estate throughout the Turkish Republic.
The percentage of home sales in Turkey during February 2022 increased by 20.1% compared to the same month last year; 97,587 homes were sold, and Istanbul accounted for the largest proportion with sales of 18,752 homes.
There are many benefits to owning a rental property, such as:
Perhaps the highest benefit of owning rental property is that it is a passive income source, meaning that the owner has recurring income that requires relatively little effort to maintain.
The regular periodic income from renting an apartment provides its owner with financial security in the long run, so the rental property can be an option for additional income in general, especially during retirement.
You will only sell at the right time; The investment in renting the property gives you the flexibility to sell your real estate unit when the market conditions enable you to achieve the highest possible profit.
Suppose you are ready to sell, but market conditions are not at their best, instead of selling your property for a loss, you can rent it out until conditions improve.
You may find yourself unable to stay in your current place of residence for financial or other reasons, then you have the option to return to your rental property and live there.
You may already have money invested in the stock market or otherwise. However, owning rental property allows you to diversify your portfolio, which can be an extra layer of protection against risk. It can also help you take advantage of the positive market instability.
The key to success for novice investors in renting homes in Turkey is to learn how to assess real estate, choose the right location, and understand market conditions.
All of this will make your property distinct, and enhance your chances of finding good tenants, which will be explained in some detail in the following lines.
The location often affects the type of the tenant, thus your profitability returns.
Some tenants are willing to pay more or overlook some of the drawbacks to the property if it is in a great neighborhood.
A tenant needs to have a property close to public transportation and major highways.
Most people don't stay home all day, preferring to have timely accessways to work, shopping, and entertainment.
If the building has various facilities and services, it will suit the tenant looking for luxury accommodation, giving your property more importance with a high rental return.
In conclusion, the return on rental property in Turkey is considered one of the profitable and encouraging investment projects to start a rewarding business in the medium and long term. However, before starting this project, consider your steps well to select the right property for you and the best investment.
If you would like to have investment experience in renting a property in Turkey, contact the Binaa Investment team, which will inform you of a range of real estate opportunities and offers for the best apartments for sale in Turkey with a guarantee of leasing and resale. Contact us now!
Edited by: Binaa Investment©
source: Turkish Statistical Institute