All you need to know about real estate investment in Turkey 2023
Last Updated: 2023-07-27
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All you need to know about real estate investment in Turkey 2023
There must be many things that you must realize when making a decision to invest in real estate in Turkey. This field, as you know, is broad and large and has many details related to it, so everything related to this topic must be known with all its contents, but if you are wondering about investment real estate in the current year 2023, so here the topic will be completely different, and if you are interested in knowing everything related to this matter, you should follow the following article.
It is necessary to recognize the distinction between cities that are better for your real estate investment in 2023:
Undoubtedly, like all countries of the world, there are cities in every country that are distinguished from others in terms of importance and development of the economy, and the tourism activities that are concentrated in them. Of course we always find that the major cities are the ones with the largest share of the advantages that exist in the country, and in the Turkish Republic also, so we find that major cities have all kinds of tourism and commercial activities in addition to the prominent urban development. If you want to buy a property in Turkey, you have to put eyes on Istanbul as it is a commercial and tourist center and the cradle of culture in the country in general. The city of Bursa, as well, is a buying target for those who want to own Turkish real estate, as it is a popular and a residential place in which there is a nature that attracts eyes. Turkish Antalya is a tourist destination also where many individuals want to buy real estate as you bought this property for the sake of investment, so you are also profitable, because you will rent the property to the tourists who will pay you money and thus you will have benefited from the consequences of your purchase of this property.
You should know the most important features of real estate investment in Turkey for the year 2023:
Buying a property in Turkey has many advantages and positives, the most important is that you will be residing on the land of one of the important countries that exist between the countries that have advanced ranks in terms of economic and cultural strength, and if you buy the property and live in it, you will get in return comfort in living, facilitating the ways of life and reducing its difficulties. However, if you do not want to live in it and have bought it only for the sake of trade and investment, then in this case you are also a winner because you will make money at the end of the month through rent. If you buy the apartment and stay in it, you will raise your children in a conservative environment that has the customs of the East and the development of the West and this itself, is a great gain, in addition to that you will get real estate residence in Turkey.
There are definitely downsides to this investment that you should look at:
There are many problems that face the next person to own real estate or apartments in Turkey, the most important of these problems is that if you want to rent the apartment, you have to deal with your landlord directly, listen to his problems and work to solve them as well. There is a problem of non-compliance with the periodic payment of the rent and this is one of the biggest problems that may face the owner of the property or in the event that the tenant causes damages. You, as the owner of the property, will be fined for the costs of the damages of the apartment left by others, but for this problem a solution appeared, that there is an insurance contract between you and the tenant under which he pays a sum of money that you return to him at the end of his lease contract, however, if he does not abide by the rental rules and the apartment is damaged because of it, you cannot return the insurance amount to him, and in this case your right is preserved, so there is no fear of this matter at all. Anyway, there is a small obstacle that you may face which is that you may not find a tenant for your apartment so it remains empty for a while till finding someone to occupy its space.
It is important that you choose the property on a sound basis:
When buying an apartment in Turkey, you should take slow steps in the matter because it is a decision on which many things will be based, since you will not buy and sell apartments every day, on the contrary, you must be convinced completely yourself, i.e. no external influences should convince you of it. The location of the apartment is also an important matter that must be suitable for you and suits your aspirations, also the factor of scarcity. Thus, it is difficult to find it and like it and become easily convinced of it, so there are some difficulties that you will encounter.
You must pay attention to some procedures when investing in real estate in Turkey for the year 2023:
But there are things that you should pay attention to as an investor when buying apartments in Turkey that are offered for sale. First, you must take care about signing the purchase contract, so it must be within a special legal department for this matter. Every contract signed outside it is considered void as if it was not written, in addition to that you must pay attention for the details of the property, it may be consumed a lot, and you will be charged for repairing it, making you a loser, or you have put countless funds in order to amend it so that it becomes the way you want.
There are many things that interest you when buying real estate in Turkey and investing it as well. In the previous article, we tried to show the most important of these things related to your investment project. In general, it is a completely safe project that you can apply as you like, but with some caution and attention to the points that we have presented above.
Editing by Mersat Real Estate Team©
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