When buying real estate in Turkey for investment purposes, a person, as a rule, first looks at the price, and only after that he pays attention to the characteristics of the property and the quality of construction. Mentality, traditions, habits, generally accepted understanding of comfort affect the classification and value of real estate. Ignoring these features often leads to the acquisition of something completely different from what the investor was counting on and, as a result, to disappointment.
“Total” and “usable” area of Turkish real estate as a pricing factor
Evaluating apartments in Turkey visually, many potential investors are surprised why the real area of the property turns out to be noticeably smaller than that stated in the sale announcement. The thing is that in the Republic of Turkey it is customary to indicate not useful, but the total area of real estate.
The usable area of Turkish apartments and villas is the quadrature of all rooms along the outer perimeter of the walls, as well as balconies and terraces. Including balconies, verandas in the usable area of housing in Turkey is quite fair. It is here, thanks to the favorable maritime climate, that the owners spend most of their free time: relaxing, having breakfast and dinner, chatting with friends, sunbathing and enjoying the beauty of nature.
The total area, in addition to rooms, terraces and balconies in the apartments, includes stairwells, elevators, entrances, and in some cases part of the internal infrastructure of the residential complex – parking, fitness room, hammam, etc.
It should be noted that the real estate area is far from being the main pricing factor in the Turkish housing market. As a rule, only commercial properties are evaluated in this way. The location, level of comfort and quality of the infrastructure of the residential complex play a decisive role in the formation of the price tag for housing. The difference between approximately the same apartments with a sea view and a parking lot can be enormous, especially in the case of luxury segment properties.
Investments In Commercial Real Estate
“Is it profitable to invest in commercial real estate in Turkey?” is a popular question from buyers from abroad.
Buying commercial space is a reliable way to make a good profit.
The main areas of investment in commercial real estate in Turkey:
- Purchase of commercial premises under construction at a bargain price.
- Acquisition of commissioned property for the purpose of resale or rental.
- Buying a ready-made business – a cafe, a shop, a hotel, etc.
The high investment potential of commercial real estate is stimulated by:
- economic development of the Republic of Turkey;
- government support for the tourism industry, small and medium-sized businesses;
- conducting active development and increasing the volume of real estate sales;
- improvement of urban infrastructure and development of new areas;
- rise in price per square meter, etc.
Investments in the construction of residential complexes
Investment in residential and hotel complexes under construction is a profitable investment direction for wealthy foreigners in Turkey. This type of business involves certain financial risks, however, with a professional approach, it guarantees a high return on investment.
Most often, large foreign investors opt for the famous resorts and megacities of the country: Antalya, Alanya, Istanbul, Ankara, Bodrum, etc. That is, those developing regions where constant and active construction of residential complexes, hotels, business centers is underway. Income from investments, despite the associated costs, can reach about 50% per annum.
Property At the Excavation Stage
According to statistics, more than half of all Turkish housing is purchased at the beginning of construction. The main reason: properties at the start of sales are much cheaper. With each new stage of construction, apartments become more expensive.
With a competent choice of real estate according to such characteristics as location, proximity to the sea, landscaping of the area, layout and floor, investors can count on good profits in the near future.
There are two ways to invest in housing under construction in Turkey and earn income:
- Buy at the stage of excavation and resell immediately after putting the house into operation. In this case, the owners receive approximately 30% of the amount invested.
- Buy at the zero cycle of construction and resell in a few years, when the price tag rises noticeably. Given the constant increase in value, the benefits of such investments are more than obvious. Until the moment of resale, many owners rent apartments and have a stable income.
A significant bonus for investors: to purchase apartments in a house under construction, it is not necessary to have the entire amount on hand at once. Most developers offer special payment programs: interest-free installments and loans.
Real Estate In Turkey
Turk.Estate website allows you to navigate the Turkish real estate market from any part of the world! Go to the website and check out the search system: choose the budget you are ready to spend on the purchase, define housing preferences, and enjoy the result.