Property investment in Turkey that is preferred by foreign investors from all around the world provides great profit to its investors in the long term.
So, what should be considered when investing in real estate in Turkey? Here are the 5 golden rules of Turkish real estate investment...
1. Find a real estate consultant
2. Pay attention to the districts that people move to
3. Consider how the district you are going to invest in will change
4. Create a business plan before investing
5. Do not rush to renovate the house you bought
Investing in real estate can also mean buying a property in Turkey to earn future income, rather than just buying a house to live in. According to the news in Finansgundem; this situation can also mean that after buying an apartment, remodeling it, realizing it and selling it at a higher price. At the same time, Turkey real estate investors may also consider renting out the house they bought. In some cases, rental income from great property investments can yield a much greater return than the investment made to purchase the property. As the cost of these investments is quite high, it is very important to make the right and smart decision.
As in the many investments, getting advice from someone with expertise in this field is also very important in real estate investments. If you want to invest in real estate in today's conditions, it is recommended to work with an experienced real estate consultant. Working with experienced consultants will reduce the risk of unprofitable investment for investors.
The coronavirus has caused a significant change in the districts where people prefer to live. We are seeing the rise of previously unpopular districts as the number of people working in offices is declining and many people are starting to reconsider their lifestyles.
For this reason, people who will invest in real estate should evaluate the districts that people prefer the most. Because when you want to rent your home or sell it back you will have a high return on investment.
Having information about location and population is very important when investing in real estate. Locations that receive immigration and have a high population growth rate have a higher potential to make a greater profit than the locations with a low population growth rate.
Apartments and boutique hotels in areas near the shopping malls will soon lose their popularity with the rise of e-commerce. It is estimated that the giant retailers such as Amazon will take these shopping centers and turn them into distribution centers. This will mean an increase in employment in these regions.
Before a price offer is made for a property to be purchased, financial planning should be carried out to determine how much money can be spent to gain from the purchase. If you want to invest in property in Turkey, the first thing you need to do is calculate. It's not just about how much money you have and how much income is received from the purchased real estate. According to the information gained, interest rates, occupancy rate and the number of real estates looking for buyers are among the factors you should consider.
Real estate investments that will increase the value of the house allow you to earn more from your investment in the long run. Don't rush to remodel and sell the house you bought. Think long-term about your purchase and focus on cash flow. The reason for this is that the competition in the real estate market is quite high. Since building materials are also expensive, it becomes a bit hard to make a profit.