While investing in real estate in Turkey may seem like a great idea, it can sometimes be difficult to get really accurate information about what you are going to do. Many rumors coming out of the mouth of many people may cause your knowledge of the market to be low and therefore not to know the market you enter well. This will mean a poorly managed investment in the end. Today, we will examine together the most frequently spoken rumors about Turkey Property Ownership and the investment process and their facts. If you’re ready, we’ll start right away!
Rumor 1: Turkey Real Estate Market Takes A Lot Of Money!
Does it so? One of the things that are often said the most is, “Hey, Turkish citizenship law is really advantageous, and Turkey is really a good place in terms of healthcare or living standards. But it is very difficult to own a property here and enter the real estate sector. Today, many investors ignore the idea of real estate investment in this high potential country because of this rumor. So is this really true?
In fact, it’s possible to buy above-standard real estate in the impressive neighborhoods of Turkey for only $50,000. These houses that you will buy in inner regions such as Istanbul, Ankara, Bursa, Yalova can be a unique life and investment opportunity for you. Then, as you increase your profit rate, you can strengthen your place in the Turkish real estate market.
Rumor 2: You Will Make Profit At An Enormous Speed
Turkish real estate market is a very developed area indeed. Especially the fact that there are many construction companies in the country allows the competition to increase and the level of development to increase. Real estate options in neighborhoods rich in human life and tourism opportunities promise maximum profit rates and low payback periods.
You already know that, right? That’s exactly why you’ve considered an investment here.
But be careful not to dream too big. Yes, your investment will most likely bring you a profit. But if you want to get rich in a short time by making a profit faster than necessary, your investment process may cause your loss. That’s why you should be careful not to buy housing from strange locations marketed with utopian promises.
Rumor 3: Real Estate Companies Will Ask You A Lot Of Money!
It is true that real estate companies serving foreign nationals in Turkey make a certain amount of money. But don’t let this worry you about your investment expense. Companies charge a certain percentage of commission, but on average this is 3 percent of the property you buy. In addition, for buildings belonging to new projects, this commission is paid by the seller construction company. You may not have to pay a commission other than the fee you pay for consultancy and paperwork.
Remember, when buying property in a foreign country, different property taxes, stamp duty, or other extra details may arise. As long as you work with a real estate company that is knowledgeable about all these issues, you can perform a much faster, profitable and advantageous process management. It’s that simple!
Rumor 4: Turkey is Not Reliable for Real Estate Investment!
Sometimes it is possible to quickly disprove this rumor by using certain statistics. Let’s take a look at the real estate housing market statistics in Istanbul, the city with the highest population and population density:
Studies show that Istanbul has seen a 2.33 percent increase in housing prices even in the last month alone. In the city, where the average depreciation period is only 20 years, the housing market has grown by 58.2 percent in the last five years. For the last three years, this figure has been determined as 40.2%. Although it entered a period of slowdown between 2018 and 2019, the momentum in Istanbul always points forward in terms of the housing market.
The same is true for Ankara. In this city, which has a 21-year depreciation period, the last month’s housing price increase was determined as 2.31 percent. In the last five years, the housing price increase is exactly 78.8 percent!