According to the “Knight Frank International Index”, Turkey is part of the world's largest market for property value growth. Also, Turkey is in second place among the most attractive markets According to” Ernst & Young”.
There are a lot of attractions that will catch your attention: the climate is just perfect and the economy is strong, so Turkey has become a perfect real estate location. The properties for sale in Turkey are at affordable prices. The non-stop flights also make Turkey an accessible country that can be visited any time.
Property investment in turkey has always been considered low risk and potentially high return, but always do your homework and weigh up pros and cons before you make your decision.
The advantages in investing in a property in Turkey
1- The prices for real estate in the country are less than those in the other countries, and you will get a good home for less money than you would usually get in other countries.
2- The cost for a living is more than 50% less than the cost of living in the UK and people from different diversities have found their place in the country.
3- The low taxes and the friendly place for old and young people make Turkey one of the best countries for the living. It will definitely be a good investment if you decide to buy a property for sale in Turkey.
4- You can also buy a house in some of the touristic areas and then rent it to the tourist. This would be an excellent option if you want to earn some money during the summer period.
5- Government support for some housing projects: Many construction companies in Istanbul real estate sector have launched residential and commercial projects in partnership with the municipalities of Istanbul.
6- Citizenship in turkey by Investment: You can be a Turkish Citizen by purchasing a property in Turkey that is worth a minimum of $250,000. The Spouse and your children will also be granted Turkish Citizenship. You can keep several citizenships along with your Turkish Citizenship.
The Risks to Consider when Investing in Real Estate
1- You cannot get your money out quickly, realistically it takes time.
2- Putting a lot of money into one particular area is a huge commitment.
3- Additional costs; properties need maintenance and repairs, this has to calculated and included in your budget for the long term.
4- If you buy via a mortgage this carries additional risks. Will the rent be enough to cover the mortgage repayments? If you cannot keep up your payments the bank or mortgage lender will foreclose and take the property. Also, bear in mind the type of mortgage you take might rise.
Just do your homework, work out a realistic budget and be ready for long time gain not quick, Turkish real estate has proven to be a good investment over the past few years!
Last Updated: 6/7/2019 9:14:03 AM