The secrets of real estate in Turkey are many and distinctive. Before buying in Turkey, the real estate investor needs to have a look at those secrets and be familiar with them. Binaa investment will let you know those secrets to be your guide for a successful real estate investment in Turkey.
The secrets we will say today need an expert real estate consultant who can uncover them in Turkish real estate correctly. Thus, choose the right partner accurately before starting to look for and buy a property in Turkey.
The crucial thing missed by most real estate investors in Turkey is the construction company. There is no doubt that well-established construction companies in Turkey have a higher value in real estate than those in the Turkish real estate market.
Accordingly, while searching for a property in Turkey, it is necessary to choose a reputed construction company so that the property value is preserved and ensures its market value increases periodically. What are the most important things to consider while choosing a construction company?
Some of the well-known construction companies in the Turkish real estate market are:
Second, investing in under-construction real estate
Real estate investment in under-construction projects is definitely a successful investment option due to the significant increase in value upon delivery, which means buying the property on the map or when launching the project.
Usually, in Turkey, the average profit value is between 30 to 35% of the total property value. For example, if a property was purchased in 2020 to be delivered at the end of 2022, the sale of that property upon delivery will be the same as the prices of the construction company at the end of 2022.
Of course, real estate in Turkey is subject to a price increase strategy at least every six months in line with the general increase in inflation in Turkey. Prices also increase with the fluctuations in the exchange rate of the Turkish lira against the dollar, so buying an under-construction property is a successful real estate investment in Turkey.
A foreigner can buy a property in Turkey in installments directly from the construction company; the installments in government companies may be up to ten years or more, while installments in private companies usually are up to 36 months at most.
What is distinctive about buying a property in Turkey in installments is that the installments are set in Turkish lira, and this is what we have noticed with our customers who we have purchased for them in advance, and we are still in the stages of paying the installments, we have noticed that the value against the dollar has fallen below 50%.
For example, the installment value is 5000 Turkish liras, which was 1000 dollars in 2018. Now, in 2022, the value of 5000 Turkish liras, according to the exchange rate, is 350 dollars. We note that the installment value has decreased by more than 60%.
Knowing that the property value is still increasing, the difference in the exchange rate does not mean a decrease in the property value but rather an increase in the property value because the prices correspond to the dollar more than the Turkish lira.
Real estate investment requires courage, self-control, and patience as well. A global and well-known saying “The property is profitable by waiting.” The more years, the more the property value over time.
There are stagnation periods that any real estate market goes through, not just the Turkish real estate market. In this case, any investor is concerned and seeks to sell the property for fear of being unable to sell it later or declining in value. In Turkey, specifically through the long experience of Binaa Investment, we found that keeping the property is the most appropriate option to save value, not selling.
Fifth, choosing the right location when buying a property in Turkey
Here appears the right real estate consultant in Turkey, who provides you with a written plan and logical analysis of the Turkish real estate market and shows that, based on factual data and previous experiences. What does this mean?
Choosing the property in the right place guarantees the preservation of the property value first and the increase in its market value. Secondly, this is the job of a real estate consultant. Binaa Investment has wide experience that confirms through the testimonies of its clients that the properties purchased for them have increased in value by at least 40% of the total value.
Binaa Investment gives you a plan, showing the expectations of price increases in a region, based on factual data, such as the future projects nearby, choosing a city center such as Sisli in Istanbul, or choosing a property located near fast transportation such as the metro.
So choosing the right location and place guarantees you a periodic and guaranteed increase in the property value, which needs an accurate consideration and knowledge of the areas’ scope and the environment with future predictions for them, and choosing the location is the most important secret of real estate in Turkey.
Choose the right and ideal location to buy the property, then choose a project belonging to a reputable construction company with a long history. After that, purchase a property, whether under construction or on the map, then set the installments in Turkish lira, and wait not less than 3 to 5 years. What do you think the result will be?
Absolutely, the result will be a profitable, safe and secure real estate investment. What we have mentioned here are the most important secrets of real estate in Turkey. Of course, we have other secrets and plans that guarantee you high profits. How will that be? It is quite simple! All you need is to contact us.
Binaa Investment specializes in legal, real estate, and engineering consultancy within the city of Istanbul. We are agents for more than 200 points and projects in Turkey. We offer distinguished services, from receiving you at the airport to handing over the property key.
Edited by: Binaa Investment ©