Important Points to Know When Investing in Real Estate in Turkey
Many foreigners who want to make real estate investments in Turkey have questions in this regard. Real estate investment can be a very risky investment. Especially if you want to make this investment abroad, there are many more things to consider. In this article, we tried to answer the questions you have in mind.
In addition to the housing function, housing has 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 city.
What Impacts the Change in the Value of a Property?
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.
Factors that Increase the Price in Real Estate:
Demand and supply on the market,
Growth in the economics,
Rental cash flow rate of real estate,
Quality of the property.
Factors That Lower the Price in Real Estate:
Unbalanced demand and supply circumstances on the market
Change in the laws
The need to quickly dispose of real estate
Neglection of the real estate
Advice for those Looking to Invest in Turkey
Be sure to verify the suitability of the person or the seller for the sale of the real estate you are buying.
Make sure that the property has no other owner or buyer
Check the property is free from the rights deriving from the mortgage, lease, etc.
Make sure the property’s validity and suitability for use in the special purpose of the purchase.
Obtain ownership contract’s copy so that the former owner cannot transfer the ownership and make sure that there are no claims on it.
Making sure the information in the title deed is coherent with the property’s actual form.