Why is real estate cheap in Turkey?

June 6, 2022
Realestate

In view of the large numbers of foreign and Arab investors coming to invest in Turkey, we had to search and investigate the reasons behind the crowding in real estate investment and the boom in the real estate market in Turkey.

By investigation and research, we have concluded that this is a result of several reasons, including the facilities provided by the government, the beautiful views, the geographical location and the excellent climate, but the most important of these reasons was the cheap real estate prices in Turkey compared to other countries characterized by the same specifications, the moderation of prices contributes greatly to real estate investment and the activity of the Turkish real estate market.

Should I look for cheap real estate in Turkey:

The investor is always looking for suitable investment options in order to start his investment project, as his options and profitable projects are determined by several factors. Investors in Turkey are more attracted to real estate, due to the following factors.

External factors:

Location: The location of the property plays a big role in its price, and this causes a big difference in real estate prices from one place to another. This is due to the investor’s choice or the reason for buying the property. If the property is for housing, the investor is looking for a quiet location and at the same time close to the city and service centers and with good transportation, but if the purpose of buying the property is commercial investment, then the investor is looking for tourist areas that are close to the lakes and historical areas or areas close to city centers and close to schools and universities because of the large number of students who are looking for apartments near universities.

Neighborhood services: this is through the periodic deployment of cleaners in the streets, public utilities and small medical centers, transportation service between small neighborhoods or between the city.

Recreational places: The property must be close to parks, nature reserves, cinemas, sports fields of all kinds, as well as children’s amusement parks.

internal factors:

The view: The view of the property plays an important role in determining its price. The view differs from one property to another in terms of beauty and the psychological comfort it transmits to the investor, because the inhabitant is always looking for a good view, it may overlook a lake, garden, water oasis, beautiful urban buildings or tall towers with beautiful views. .

Real estate cladding: The cladding is the furnishing with which the real estate is furnished and varies according to the quality and quantity of the furnishings. The furnishings of the real estate may be light and contain only the basic necessities, and the furnishings of the real estate may be adequate and contain all the needs of the buyer, and the investor does not need to buy something of the home’s furniture and add it later.

The real estate space: The choices of investors differ in this due to the type of investment. In the residential investment, the buyer will look for an apartment with enough space for his family and a regular distribution of rooms, and the price will certainly differ between a 5-room property and a two-bedroom property, and what distinguishes Turkey’s real estate is the mediation in space according to the location of the property and according to the residential complex in which it is located.

Floor: Most of the properties are in the form of floors, and each property consists of several floors, including 4 floors, including 6 floors, and up to 10 floors. This is due to the type and location of the property, and investors are always looking for an apartment that has a low floor and this is due to the buyer’s family. It may contain a disabled or sick person or an old person who cannot climb the stairs, even if the property is equipped with electric elevators, as some people do not prefer this type of apartment.

Factors behind the low cost of real estate in Turkey:

Real estate in Turkey is considered one of the cheapest real estate compared to other countries, which attracted large numbers of investors to Turkey in order to invest in real estate. Several factors contributed to the cheap real estate prices in Turkey:

Turkey’s economy: Turkey’s economy is considered a good economy because of the boom in the investment movement that it is witnessing, and this helps make real estate prices in Turkey cheaper compared to other countries with weaker economies, and helps investors and guarantees them high profit and benefit from the property and guarantees no loss.
Price stability: The Turkish lira is one of the relatively stable currencies, compared to other foreign currencies. and that the stability of the currency gives somewhat stability in prices, ensuring good living conditions and economic stability, which contributes to attracting investors and makes real estate prices in Turkey cheaper.
Turkish government facilities: The Turkish government makes the process of owning and investing in real estate easier and for a shorter period compared to other countries, if the process of owning and selling real estate was more difficult and more complicated, the price of the real estate would have increased, even if a small thing, due to paying the fees of lawyers and notaries who receive the papers of the sale or purchase contract, and the great effort expended in conducting paper transactions.

How do I benefit from owning cheap real estate in Turkey?

Real estate in Turkey, even with its high prices, is considered cheap compared to other countries because it provides advantages that you do not find in others, and if these advantages were found in another country, the price would be much more expensive, and owning real estate in Turkey is a great opportunity for success, and this is done in many forms:

Investment through sale: Since owning Turkish real estate is less expensive than the rest of the world’s real estate, you can take advantage of this property and sell it and earn profits, especially in the places of tourism and the attractive places that businessmen rush to, and this gives you a greater chance of profit and success.

Investment through leasing: You can invest in Turkey in several areas, but some areas require leasing because it reaps the largest profits, and this is in the famous tourism areas by leasing tourists and visitors, especially real estate overlooking the beaches, and this is also in areas close to universities and institutes through student rental, This allows for greater profits and better financial returns.

Investing through opening a real estate office: You can also combine selling and renting by choosing a good location to open a real estate office in it, and making good offers for apartments available for sale or purchase, or by renting ready apartments to students, tourists, or those who want temporary housing.

Obtaining Turkish citizenship: Owning a property in Turkey gives you the opportunity to obtain Turkish citizenship within specific conditions, and to complete some government papers with a period of time to own the property not less than 3 years, you have already obtained the Turkish citizenship that makes cheap Turkey real estate possible.

Do not forget that cheap real estate in Turkey is not a fixed word, but rather it is constantly changing, and this is what guarantees you to obtain abundant profits over time, especially since all indicators confirm that prices in it will record a significant increase during the coming period.