For anyone looking to build their real estate portfolio, Turkey is a wonderful destination. There are various reasons that make this country a great spot for real estate for purposes such as investment, accommodation, and tourism. The sporadic economic growth in the country has made the real estate industry to become the most lucrative markets today.
Nature of real estate investment in Turkey
This country is a hotbed for real estate investment for various reasons. In January and February, about 6,489 homes were purchases in the country. Accommodation, tourism, and investment are some of the reasons that make Turkey an investment magnet. Luckily, the real estate market is favorable for everyone including foreigners. It is no wonder that about foreigners bought about 2,801 houses at the beginning of the year.
Important considerations to put in mind
After finding a reputable property listing, take time to look for available apartments for sale. Ensure to read all details about particular apartments that pique your interest before putting them on a shortlist. Some of the important details about the apartment to look for include nature of apartment, amenities available, size, price, surrounding public services, and the number of rooms.
The ideal apartment should match international standards for having the potential to raise more returns in future. After zeroing in on the ideal apartment, a physical inspection is necessary. Ideally, hire a professional to inspect the property. Additionally, the apartment should not have debts, financial assets, legal consequences, and taxes. Find a reputable real estate expert agency like Damas for an easy purchase and ownership process.
Why invest in an apartment in Turkey
This country is strategically located the Middle East and Europe. This opens up a vast market for homebuyers looking forward to owning homes with views of the sea. It explains why many local and international real estate developers are investing heavily in the real estate market. Owning an apartment here that you can rent out to the various tourists here has a high potential for good returns.
Good government policies
The Turkish government offers various tax exemptions and facilities to promote the real estate sector. Opportunities like the Citizenship by Investment program offers investors who invest $250,000 into the economy a Turkish passport. hotbed has sparked off sporadic real estate investment in various areas of Istanbul.
The booming tourism industry in Turkey is a driving force in the real estate market. About 8.74 million tourists visited Turkey in the first four months of 2019. These create a huge demand for accommodation in locations near tourist locations. Owning an apartment that you can rent out to tourists on short-term offers guarantees significant profits.
- Hagia Sophia
- Blue Mosque
- Aspendos Theatre
- Goreme Fairy Chimneys
- Patara Beach
- Mount Nemrut
- Bodrum Castle
- Library of Celsus
Owning a luxury apartment in Turkey
When browsing available apartments for sale in Turkey, look out for popular amenities that offer ultimate comfort. Consider a smart home with advanced technology fitted with luxury amenities. An apartment with such features fitted with artificial intelligence enhances comfort in the home and allows easy handling of tasks.
Apart from smart apartments, other types of luxury real estate investments in Turkey include duplexes, penthouses, and luxury complexes. All these might come with high tech entertainment systems and wonderful designs regarding internal and external engineering. The best apartments have wonderful views and vast green spaces. You can find some of the best luxury apartments in locations including:
Determining a goof price for a Turkish apartment
Property prices in the country, especially in Istanbul, can soar to unbelievable extremes. The apartment price on one street might vary significantly on another street. Keep in mind that apartments in areas favored by foreigners cost a bit more compared to those frequented by locals. Property deals charge foreigners more to cash in on the high demand
To make more from your investment, ensure to shop around. Finding a reputable property listing is a great idea but compare the price of your choice apartment with others in a similar area. Luckily, you can do all this online. Afterward, physically inspect the apartment before putting pen to paper to ensure that you make an informed decision. This will ensure that you get the best deal that fits your budget without compromising potential returns on investment.
Real estate is wonderful investment for its potential to yield high returns. Turkey is a wonderful destination when looking for where to invest in real estate. This country is strategically located between Europe and the Middle East enhancing more interest in the Turkish real estate market. Regardless of whether you need the apartment for investment or accommodation, the real estate market here has got you covered. This is enhanced by the country is favorable real estate investment programs including the citizenship for investment program.