How To Invest in Real Estate To Get Best Price By Selling Property?
Based on Istanbul's tourist attraction alone, real estate investment in Turkey provides a profitable return on the property. This boost is most apparent in tourist periods and seasons, through the demand for rental homes, summer houses, holiday houses, apartments, and villas distributed throughout the year. The investment studied in real estate, which is highly sought after during the tourism season in Turkey, can provide an encouraging profit, and a good return on investment. That means you could potentially buy a $250.000 property in Istanbul to secure your Turkish citizenship, then rent out the property for the 3-year no-sell duration to get the double of your purchase. Here is some information that might help you on your journey to put your villa or house on sale in Istanbul or Turkey.
For being the most populated city of the region, Istanbul holds both the title of most affordable and most luxurious apartments in all Turkey. This city with 16 million population is in constant growth. The young population is always on the hunt for apartments around the globally popular universities located in Beşiktaş, Beyoğlu, Tuzla, or Kadıköy. Families and workers who come from out of the province are always looking for apartments closer to the city centers, Taksim, Üsküdar, Şişli, or Kadıköy.
Real estate is the most valuable sector that keeps the economy well and stabilized because Turkey is a fairly large land with a huge population who would love to buy a house one day. That population just keeps on growing with every year as they live under the perfect climate and continue to dream of owning their homes one day.
Various elements affect the value of a property. For instance, the supply and demand stability of a region affects the value as well as the location of the housing. How big or small is the property also determines the value of it. The returns of the real estate numbers also greatly increase a property’s value. If you can take out a mortgage and make more money out of it, this increases the worth of a real estate. The country’s economic situation where the housing is located also adds to the price of the housing in direct proportion. Another factor is the law relating to real estate, which determines regulations on structure, rental, privatization, permit, etc. Lastly, the expected benefits of the property is greatly changes the value of a property during the sale or rent process.
Buying your property in a project in development in a critical location will quickly sell after the completion at a higher price. Apartments for sale in Istanbul with sea views are the most demanded projects in Turkey. Land investments in Turkey's most vital locations that has plans of building residential complexes on them. You can easily sell them to double your buying price. Leasing a completed project can also assure you a fixed monthly return.
In addition to the housing function, properties have been regarded as an investment instrument for many years. Istanbul is a great place for a start. It’s the first place that comes to mind when investing in real estate; foreigners choose to buy real estate in this megacity of 16 million. There will always be a buyer for your project, no matter how luxurious it may be.
Some landlords in Turkey rent their property for the long term (1-year minimum) and much the same as in western countries. The return of your investment varies depending on where you choose to buy the property. For example in Istanbul's inland districts, rental prices for a fully furnished apartment average between 2000-3000 lira a month but head south to the coastal districts by the Marmara Sea, the most expensive place to live in Turkey, where the rent is never lower than 4000 or more for a 3 bedroom apartment.
It is common for the Turkish landlord to ask a month’s (up to three months') deposit in case of damages. This saves the landlord the hassle of chasing money every month. If the rental payment is 1000 lira a month or higher, the law says, it must be given via bank transfer, so there is a paper trail. Some occupants will also ask for a receipt if their employer is paying accommodation costs or they can get back their rental fee on their tax returns.