According to the analyzes of real estate investment experts, like Mr. Omar Farouq, the founder and CEO of Akarkom International Real Estate, this is the best time to buy real estate in Turkey. So investors have to take advantage of the current period as much as possible, the faster they do, the sooner they get great returns. They also expect real estate prices to increase in the coming months, in return, the real estate value that qualifies investors to obtain the Turkish citizenship and real estate residence permit will increase as well. If you want to buy a property in Turkey, but you are waiting for the right time, let us tell you that the right time was yesterday, but if you missed the opportunity yesterday, you should take advantage of it today, because waiting is not good for you, but rather it will deprive you of the great returns that you have always dreamed of.
Why real estate investment in particular?
The current global economic crisis has led to global inflation that led to the bankruptcy of many businessmen and big companies around the world. Leading tech companies such as Microsoft and Twitter have laid off thousands of their employees around the world, spreading panic among businessmen and investors. As for countries, many banknotes have lost their value, including the US Dollar and Euro. However, the only sector that remains secure despite the crisis is the real estate sector.
Real estate investment is known as one of the most successful types of investment, because it low risk. Real estates are fixed assets that do not lose value and create stable cash flow. Banknotes may lose their value with time, but real estate never loses it, rather its value increases with time.
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Why Turkish real estate investment?
- We are now in 2023, which is considered the year of prosperity for Turkey, as it is the year in which the new Turkish president will be elected, and also the year in which Turkey will end up from the Montreux Agreement, thus it will regain full control over all its straits and ports.
- After the outbreak of the Russian-Ukrainian war, Turkey emerged globally because of its major role in the negotiations between the two parties. This also made Turkey the corridor through which natural gas will be pumped from Russia to Europe, at a time when Europe suffers from gas scarcity due to its cut off from Russia. This will work to raise the Turkish economy and thus push the investment wheel strongly.
- After the Turkish government announced the large strategic projects that they are working on within Turkey's Vision 2023, starting with the New Istanbul Canal, the newly discovered gas fields, the newly discovered gold mines, nuclear powers, and many others, big countries have pumped huge investments in Turkey, such as: Saudi Arabia, Qatar, and China, which will make Turkey an international economic center.
- It is known that real estate investment in Turkey of 400,000 US dollars enables you to obtain Turkish citizenship, but economic experts confirm that the reasons we mentioned previously and many others will lead to an increase in the value of the property that qualifies for citizenship to half a million dollars or more. This is one of the most important reasons that call to the necessity of real estate investment today before tomorrow. People who follow Turkish news know that the value of the property that qualifies for citizenship was 250,000 US dollars, years ago, but it increased because of the increase in demand for Turkish real estate.
- All the reasons we mentioned above in addition to the strategic projects and Turkey's economic and political power, in the meantime, confirm that Turkey will be one of the greatest powers in the world, competing with the United States of America, China and Russia, according to economic and political experts. This will lead to an increase in the investment wheel, raise the power of the Turkish passport and thus an increase in the price of Turkish real estate.
The best season to buy a property in Turkey?
If you are smart enough, you will work to seize the opportunities to buy a property, whether for housing or for investment. Also, consulting a real estate expert or a real estate company will benefit you greatly in this regard. You will know about many factors that you should follow when buying real estate that will protect you from fraud, that you may be exposed to because of lack of experience.
Experts in the Turkish real estate market believe that the decline in the exchange rate of the Turkish lira, compared to the US dollar nowadays, is an opportunity for real estate investment that leads to large returns in a short time, especially if the investor is a foreigner. This has already happened with many investors who took advantage of the current global inflation by investing their money in Turkish real estate. They were surprised that the price of the property they bought increased within a year!
However, if we want to talk about buying real estate in Turkey, in general, winter is the best season for that, due to the relatively low demand in this season. Most people buy real estate during the summer vacation, so that they go for recreation, tours, get acquainted with the Turkish regions and cities, and see the real estates that suit them on the ground, whether it is for vacation, housing, or investment.
As for investing in summer, it is like someone who intends to buy an umbrella during a rainy season. Demand will increase, supply will increase, and thus prices will increase as well. While those who buy umbrellas during the off-season will avoid the price increase that accompanies the demand increase and will be ready with their umbrellas during the rainy season.
Buying a property under construction
The majority of real estate experts advise buying a property under construction because of its many investment advantages. However, before taking this step, you must first check the reputation of the construction company to avoid falling victim to fraud. In this case, consulting a real estate company with knowledge and experience in the Turkish real estate market will benefit you a lot. Buying an under-construction property has great benefits for investors because they buy property at a lower price and sell it once it is finished at a higher price. We are summarizing these advantages as follows:
- Investing in an under-construction property is a great investment option, an opportunity to get the property at a lower price, and get a higher investment return in a short period.
- It will save you huge sums compared to buying a ready property, and will bring you great profits.
- It is a great opportunity for those who are not restricted to a certain time period, and do not have a large budget, as buying a property during the construction phase will be cheaper and offers installment options.
- It gives buyers the opportunity to define the features they want to have in their property, including design, decoration, and others.
Things to consider when buying an under-construction property in Turkey
- Make sure that the construction company has a good reputation in the market to avoid falling victim to fraud
- You should be aware of the laws and regulations regarding real estate in Turkey, and follow procedures legally to avoid any trouble.
- The sooner you buy the property as soon as it is offered by the construction company, the lower its price will be, thus the more you will be able to achieve the goal of your investment.
- Slowdown in choosing the property to get the required specifications in terms of design, area, location, view, and others, due to their importance in defining the price of the property when reselling it.
- If you choose the installment option for payment, try paying half of the price as a down deposit to reduce the burden of monthly installments.
- After completing the construction of the property, you will notice that its price will increase significantly, but selling it in a rush is not in your favor, so you have to study the market very well before starting this step.
- You have to make a plan-B in case any obstacles or sudden troubles occur.
- You should see the property on the ground, so that you do not run into any future problems regarding things that you were not aware of before.
- You should pay attention to the terms of the sale contract and make sure that it contains all the details that were agreed upon to guarantee the rights of both parties.
- We usually advise our customers to buy a property on installment and not to pay cash to ensure the least losses in case the construction of the project stops, for a sudden reason.
- Once you receive the property, make sure that it matches the specifications that were agreed upon. You can refuse it if you did not find the agreed-upon specifications.
We offer you our services in the field of buying real estate in Turkey in three stages, before buying the property, after purchasing the property, and during the purchasing process. We also provide you with the latest real estate offers, in Turkey, that go with your desires and the specifications that you desire, including suitable real estate, offers to obtain Turkish citizenship through real estate investment, and purchasing real estate in Turkey within a standard period of 90 days.
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