What is the reason for investing in real estate in Turkey?
The real estate market in Turkey is growing by leaps and bounds. Annually over 3 million tourist visit Turkey both for a brief-term and long-term basis and looks for properties to rent.
If you have a property in Turkey-and in case you are not using it-rent your property and earn good returns.
Real estate developers in Turkey are not building properties to replace the old homes. They are trying to take the real estate game further by constructing trendy, modern design buildings and apartments incorporating every feature one desires to have in their home.
Buying a property in Turkey is more than just an investment. It is like getting a step closer to a better and luxurious lifestyle.
Places for the best investment in real estate Turkey
Istanbul: Asian and European sides
Istanbul is Turkey’s leading hub for education, tourism, business, economy, and more. If you are fond of an urban lifestyle, Istanbul has plenty to offer. From 2013 to 2019, foreigners have invested in more than 40000 properties in Istanbul.
The Antalaya Province
This district in Istanbul has a cosmopolitan ambiance with buyers from all around the world wanting to settle here. The nightlife, the scenery, the beaches-gives you the best of both worlds. From 2013 to 2019, Antalaya and its neighboring places have witnessed over 33600 properties.
Bursa in Northwest Turkey
Bursa is one of the most affordable places to buy property in Turkey. It ranks 6th in terms of property sales. With parks, gardens, excellent infrastructure, Bursa is a pleasant place to live.
These are just a few of the places that have witnessed an unbelievable boom in property sale. Other than there are a total of 39 districts to choose from.
Advice before investing in real estate near Turkey
Turkey has a total of 39 districts-each famous for its unique characteristics and unique selling points. Before investing in real estate as a buyer, you should look closely at the properties of the area- the attractions, the tourism, the transportation, the nightlife, and many more. Choose the location that suits you the most.
The real estate of Istanbul is in the middle of renovating itself. New buildings, new transport commutes, tourism attractions, shopping facilities, a new airport, megaprojects along with a planned canal route is just a piece of the massive changes Turkey is going through. Therefore, before investing in real estate, Turkey get some knowledge-no one can help you better than the locals.
According to the update on Turkish law, any transaction related to property should be done in the lira. Therefore, you should be wanting the best exchange rate possible. Turkish Banks offer specialized money transfer services to foreigners with the best exchange rate- this can save you hundreds of dollars.
Luckily, the system of buying properties in Turkey is less complicated compared to other western countries. Assuming you are not a citizen of Turkey, your property needs to be looked after and managed property. You can hire an emlak or a management agency to keep your property snoot and going for prospects.
Final Words
Investing in Real Estate Turkey is indeed a daunting experience. But with the proper knowledge and advice from the experts, you need not worry much. Turkey- the city that straddles two continents is one of the best counties to invest in real estate.
