While there’s a currency issue , coupled with the high rate of rate of inflation Turkey is a country with a large GDP and an active economy, and a youthful population. The reduction in the value of the Turkish lira led to the demand for real property in Turkey to rise rapidly. There is a large demand for both local and foreign investors.
Turkish Citizenship as Investment
In 2018 , a new law went into effect, allowing foreign investors to apply for Turkish citizenship when they buy an investment home (or more than one property) in Turkey that has a value of less than 250.000 Dollars. This was a huge opportunity for many investors from abroad.
Capital gains from property in Turkey
A property purchase in Turkey has proved to be a profitable investment over the last several years.
A typical capital gain of about 5 percent in dollars annually is fairly common, based on the region and specifics of the property you own in Turkey.
Procedures for buying a property in Turkey
The buying of property in Turkey can be very quick Real estate in Turkey is a great investment choice for foreigners. Comparatively to other countries, buying properties in Turkey can be completed within a short period of time. The entire process, from choosing the best property to transfer of title can be completed in less than two weeks. It is recommended to collaborate with an agent who is licensed always to ensure that you avoid certain dangers.
The reason to purchase a property in Turkey
A significant portion of purchases of properties are made by visitors who are fascinated by the Turkish lifestyle, style and economic perks. As one of the most sought-after destinations for investors from abroad, Turkey continues to increase in importance each year.
What is the best time to Purchase a Property in Turkey?
Many real estate agents will give you advice and tell you; “now is the time to purchase!”
The best answer is to consider the right property in the best location, at the appropriate cost, in your price range. A more thorough answer to the best moment to buy a home in Turkey includes the following other factors:
The weather during the spring season is never bad in Turkey. So, this time is a great time to visit properties as well as to view the future home you’ll be buying as a holiday home in good weather. While the summer and spring time is considered to be the most sought-after time to buy property in Turkey Some people prefer to purchase property during the winter season.
Based on our experience, we can conclude that it is generally some advantages to buying an investment property during the winter season. The reason behind this is the fact that there are generally fewer transactions during winter. The property owner is more likely to be negotiating in this time. Additionally, the entire process will take longer in the summer and spring seasons.
Turkish Lira Exchange Rate
In this time, the Turkish Lira is currently in an official crisis with respect to it’s counterpart, the Euro as well as the Dollar. This is a good thing to foreign buyers of property and property buyers. It is also possible to negotiate reasonable rates due to this. The worth of your local currency rate in relation to the Turkish currency could either make or break some significant amounts of dollars.
It is important to keep track of international news and foreign policy that could impact on the Turkish Lira. Aegean Locations will provide you with current details on this subject and more.
Visit the aegeanlocations.com website when looking for real estate Çeşme.
It is recommended to verify for exchange rate differences between both the sending foreign bank and the that of the Turkish bank before transfer large amounts. Aegean Locations is assisting all our clients from abroad with this task and is in close contact with the bank receiving the transfer.
Off Plan Properties in Turkey
Off-plan properties can be defined as those that aren’t completed yet, and are still in the process of construction (or even prior to even the building phase). All developers give a thorough overview of the project, including 3D impressions floor plans, floor plans, and lists of materials. The buyer of a property selects an option based on investigation and their experience with the developer.
Aegean Locations works with a very small amount of quality and reliable construction firms located in Izmir in Izmir and Cesme. We assist foreign investors through the entire buying and selection process.
The benefits of purchasing Off-Plan:
Large selection of choices and the option to customise A property off-plan allows the purchaser to choose from a variety of properties, units and interiors that can be customised.
Building Guarantee: Purchasing off-plan directly from the developer gives home buyers with building assurances.
Instalments of Payment Plans: Off-plan purchases generally are defined by a deposit at the beginning, paired with a payment schedule until the end of the project.
This payment plan offers the payment in installments and allows buyers the opportunity to plan their budget and save.
Favourable Prices: In the construction/development sector industry it is quite common that off-plan properties are competitively priced in order to attract sales and generate funding. To create more sales momentum, many developers encourage early purchases by offering massive discounts, often lower than the market value relative to the price they offered after the completion.
Capital Gains: Generally it can take at least 2 or 3 years for development projects to be completed. As the purchaser purchases the property for less than its the market value, substantial capital gains could be realized.
Earnings from Resales: There are many investors around the world who profit from discounts on purchases before the deadline and then sell their investment when they have completed the construction. It can be a profitable venture. Aegean Locations is able to provide an accurate overview of the most reliable projects that are of the highest quality. Additionally, we have a thorough understanding of the reliability, as well as experience of the top construction firms that operate in Izmir as well as Cesme.