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Buying Real Estate Turkey

Buying Real Estate Turkey

Turkey is one of the most attractive countries for foreigners and investors in search of real estate investment. If you are considering of buying real estate in Turkey for investment or for housing, it is the best time now. For that reason, here you will be introduced to the real estate market in Turkey.

About Turkey

Turkey is formally named as the Republic of Turkey. It is situated at the intersection of the Balkans, the Caucasus, the Middle East and the Eastern Mediterranean. Turkey is a great country that links Asia and Europe. Turkey's European side has been separate from the Asian side by the Sea of Marmara, the Bosphorus and the Dardanelles.

This magnificent country is positioned at 95 percent in Asia and 5 percent in Europe. Turkey is also encircled by seas on three sides. The Mediterranean Sea in the south, the Aegean Sea in the west and the Black Sea in the north.

The capital of Turkey is Ankara. The city selected as the capital of Turkey on 29 October 1923. Ankara is the second major city in Turkey. The first greatest city in Turkey is Istanbul. It takes place in the center of Turkey's road and rail network. Ankara is also one of the major commercial and industrial city in Turkey.

Real estate in Turkey

Turkey hosts foreign investors due to the real estate purchase programs. The investor may qualify for Turkish citizenship by buying real estate Turkey. The real estate market in Turkey has achieved an income of about 29 billion US dollars between the years 2011-2018. Istanbul became the first city with 58,488 sales between 2015 and January 2020. According to information provided by Turkey Statistical Institute (TSI), approximately 1.35 million houses were sold in Turkey in 2019.

While foreigners purchased 45,500 houses, there is an increase of 14.7 percent compared to the previous year. In January 2020, 3,907 real estate were sold to foreigners. Housing sales to foreigners raised by 23.3 percent check against the same month of the last year and became 3,907 houses. Istanbul takes its place as the first city to buy real estate Turkey with 1,875 sales in January 2020.

Which City is the Most Famous to Buy Real Estate Turkey?

The greatest city in Turkey is Istanbul, which is a wonderful bridge between Europe and Asia. It is the most preferred place of travelers and real estate investors due to its nature, history and culture. Millions of tourists visit Istanbul dating back to the 6th century before Christ, every year to enjoy extensive historical sites. The amazing city of Istanbul is divided into 39 regions.

The best aspect of Istanbul is that it has various alternatives in terms of way of living from an elite environment to traditional local environments. It has many attractive sides, such as a multicultural society, affluent history and a favorable geographical location.

There are many luxury apartments and affordable houses for sale in the city. There are also fabulously luxurious villas that attract the attention of investors. Buying real estate Turkey can be difficult due to a wide range of high standards it offers.

Buying Real Estate Turkey in Istanbul

Istanbul is a perfect place offers family life and a developing investment market for local and foreign investors. There are lots of luxury apartments and low priced real estate for sale in the city. There are also stunning luxurious real estate alternatives that attract the attention of property investors and foreigners.

International finance and real estate experts such as Deloitte, HSBC (The Hong Kong and Shanghai Banking Corporation), Bloomberg, KPMG and Knight Frank expect the real estate prices in Istanbul Turkey to rise in the next 5 years for the following reasons:

  • Thanks to the improved construction technology, it is now cheaper and faster to produce new real estate in Turkey.
  • Increasing real estate prices due to demand and the impact of the young population.
  • Increasing foreign demand for real estate market in Turkey.
  • The current and projected record level of tourism in Turkey.
  • Extraordinary strong economic conditions of Turkey.

Real Estate Investment Fields in Turkey

In general, the real estate market in Turkey and especially Istanbul has witnessed an important recovery and development. It can be seen by figures and statistics given by expert in statistical institutions. A previous static showed that the number of real estates sold only in Istanbul in September 2019 reached 8,347 housing units.

The city of Istanbul is known to be one of the greatest selling points and the best alternative to real estate investments in Turkey. The Turkish real estate market is in the budget of most investors, it remains as a paradise with amazing offers for a lot of investors.

For those who have plan of buying real estate Turkey there are some fields that may attract their attention such as;

  • Investing in Housing Projects

This investment in housing projects is the most preferred one for those who wants to buy real estate Turkey. People constantly gains profit by giving their houses for rent. Today it is possible to find families and students that are looking for rental properties so you can give your houses or apartments for rent in Turkey.

Housing projects in Istanbul are an ideal and smart alternative for housing and investment due to features consisting of valid security and surveillance cameras and other services that meet all the beauty for you and your family. Many specialists in the field of real estate believe that the great area of real estate investments in Istanbul order has a residential complex. A wide number of real estate investors are going towards this city right now.

  • Investing in Touristic Real Estate

This field is due to flight and travel bans and disruption of the tourist season due to the spread of Coronavirus has almost stopped. But if you plan to buy real estate Turkey and invest for the start of the tourists travels you will have a great rental gain from your investment.

After the end of the measures to be taken against the Coronavirus, you will have a tourist apartment demanded by thousands of tourists, which will be a return promising and profitable investment.

In addition, in Turkey, especially in Istanbul and Antalya idea of buying real estate Turkey as a hotel concept apartment in the tourism real estate will be one of the prominent and smart investment ideas.

  • Commercial Real Estate in Turkey

Turkey became a country that attracts global investment and economic enterprises in the east and its west. Turkey, in various fields and sectors, has become a center for the launch of global trade and investment activities.

Istanbul has come to the forefront in commercial activities in Turkish cities as well as the city of Antalya and other central Turkish cities to be preferred for investment and trade opportunities in Turkey.

Among the ideal alternatives to buy real estate Turkey, purchasing offices in the central areas such as Levent and Maslak regions of Istanbul and selling or renting them will be a smart decision. Office properties have a high potential to make a profit due to the rising number of companies and the emergence of the term entrepreneurs and the demand of all private companies for offices.

So it cloud be recommend to buy an office in one of the buildings or administrative complexes. And by renting or selling it as commercial real estate you can catch the guaranteed quick profit returns as well.

It may also be recommended that you can buy a commercial real estate, such as buying and selling a medium or small store, as Business Centers become a destination for everyone.

  • Buying Under Construction Real Estate in Turkey

Under construction real estate in Turkey is considered as the best alternative in terms of investment and by gaining from a great price in the future.

In order to buy real estate Turkey and residential units have observed an average increase of approximately 30 percent from the beginning of the housing projects until delivery. So you can gain a high profit with buying under construction houses and resell them in the future. Even some projects offer such as 50 percent as the project is finished and ready for delivery.

This field of investment is a longtime investment its returns are not quick but have a great profit rate.

Also you can buy real estate Turkey which is under construction that offers you the opportunity for a flexible installment period. In Istanbul and other parts of Turkey, it is considered that the housing projects which are under construction is offering long installments compared to the ready housing projects.

If you have a plan of buying real estate Turkey, as MELARES Turkey Properties we will provide the best alternatives and guidelines for you. You can contact us through our website melares.com. Or if you are planning to come to Turkey by our free real estate tours you will be able to visit the most luxurious real estate of Turkey and buy the most reasonable house for yourself.

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