What are the obstacles to buying a property in Turkey?
Last Updated: 2023-07-27
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What are the obstacles to buying a property in Turkey?
Real estate is known as the best way to save money, and according to the experts of Mersat Real Estate, real estate is the best type of investment, but this rule will not be achieved if the property is chosen in the wrong way.
You will read in this article:
The property loses its value
If you can't pay, don't buy a property in installments
Avoid becoming a victim of real estate fraud
Choose your property carefully
Don't pay too much to repair it
Ensure that the property matches its specifications
The property may lose its financial value:
This is likely to happen in any country in the world and not only in Turkey, as economic crises would affect the price of the property negatively, but this aspect in Turkey is considered safe, as the economy is booming and stable, and it is even expected to register a significant growth up to 8% by the end of this year .
The owner of the property may be forced to sell it because he needs money, and the conditions may be inappropriate for the sale, so he loses part of its value.
If a property is purchased in installments:
Many seekers of real estate for sale in Turkey tend to buy in installments, but in this case the buyer must be sure of his ability to pay the installments on time, but also this matter in Turkey is easy to control as buying a property in installments is accompanied by many facilities by construction companies as they present a lot of offers and discounts.
You will read in this article:
The property loses its value
If you can't pay, don't buy a property in installments
Avoid becoming a victim of real estate fraud
Choose your property carefully
Don't pay too much to repair it
Ensure that the property matches its specifications
The property may lose its financial value:
This is likely to happen in any country in the world and not only in Turkey, as economic crises would affect the price of the property negatively, but this aspect in Turkey is considered safe, as the economy is booming and stable, and it is even expected to register a significant growth up to 8% by the end of this year .
The owner of the property may be forced to sell it because he needs money, and the conditions may be inappropriate for the sale, so he loses part of its value.
If a property is purchased in installments:
Many seekers of real estate for sale in Turkey tend to buy in installments, but in this case the buyer must be sure of his ability to pay the installments on time, but also this matter in Turkey is easy to control as buying a property in installments is accompanied by many facilities by construction companies as they present a lot of offers and discounts.
Fear of falling victim to real estate fraud:
It is possible for the buyer to be exposed to real estate deceptions that would expose him to material losses, so he should seek the assistance of a real estate agency with experience and knowledge in this matter and there is no one better than real estate companies that can prevent this from happening, as they would reduce the barriers between the property and the buyer and they are responsible for securing a property that matches the requirements of the buyer.
However, it is recommended to be reliable and have long experience in the Turkish real estate market, and this can be confirmed by clients who have previously dealt with it.
You must make sure that the choice is correct:
That is, the property must match the purpose of its purchase, so this matter must be determined before starting the search, and all the specifications that the property must have, so the buyer must ask himself some questions (Which location suits me, the quiet, secluded, or the lively noisy? What view do I prefer for the property to have? Do I like it to have a sea view or on green spaces? How would I prefer the interior decorations and designs? Also, the financial budget should be determined, which is responsible for determining all other details).
Paying huge costs to repair it:
If an old dilapidated property is purchased, it will need to be repaired and restored thus paying costs that may be extreme, so the buyer should study these things well and calculate their cost well if they suit him or not, but if the property is for real estate investment, it is recommended to spend on its repair generously so that its returns are high.
Care must be taken to adhere to all legal papers and documents:
Any deficiency in it means exposure to problems, the most prominent of which is the title deed, which is a proof of someone’s ownership of his property, and it must be ensured that it matches the type of property. There is a real estate appraisal document that proves the real property value without tampering, and it is one of the documents that are required when you want to obtain Turkish citizenship through real estate.
It must also be ensured that the property does not have legal problems such as seizure and mortgage.
If it is for the purpose of investment:
If residential real estate is rented, the landlord will have to face some problems, such as dealing with tenants and listening to their problems, and may even incur losses due to repairing some parts of the property, and the tenants may default on the monthly payment.
Also, commercial real estate owners suffer losses sometimes because the tenants move around a lot. It is possible to remain empty of tenants for some time, but in order to avoid this matter, the property should be chosen according to a well-studied basis, such as being near the main roads, as it should be close to public transportation.
Real estate under construction:
The owner of this property must make permanent tours to see the real estate on the ground and see its latest details, if there is a problem, it will be remedied.
Care must also be taken to draft a contract that mentions all the agreed details and clauses.
It must be ensured that the property complies with its specifications:
This is done through the title deed of the property, as it contains all the information related to the property, and the identity of the real property owner must be verified.
The essential difference between feasible real estate and useless real estate is that the first is chosen by the expert real estate consultant, as he is well aware of the real estate and investment map in Turkey, and the second is chosen by a broker without experience looking for his personal interests.
In order to reach a safe investment that achieves feasible financial returns, you can contact the Mersat Real Estate team and request a meeting with one of the company's consultants to obtain the best investment options in Turkey.
Edited by Mersat Real Estate Team ©
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