What is the most profitable way to buy real estate in Turkey for vacation, living or earning money?

What is the most profitable way to buy real estate in Turkey for vacation, living or earning money

There is so much trepidation and anticipation in this word. A huge number of people, when thinking about a vacation, picture in their heads the image of an ideal beach, gentle surf and warm sea of ​​Turkey.

People fly here out of true love, someone chooses a hotel for the 10th time in a row and goes crazy from all these inconveniences.

And if you think carefully, many lovers of the Turkish coast have already looked at apartments there and are relaxing in them, regardless of the circumstances. Someone fell in love so much that they decided to move there for permanent residence, or started investing in real estate in Turkey, because this is now a very promising area.

Today, buying real estate in Turkey is gaining more and more popularity because this process is not as complicated as it might seem and this seems to be the most heavenly place on earth.

So, here are some recommendations on how to profitably buy an apartment, apartment or villa on the seashore in Turkey without giving away your last pants.

The most profitable option for purchasing housing is, of course, concluding a contract at the construction stage. Moreover, the earlier, the cheaper. Developers offer the lowest prices at the foundation pit stage. 

The benefit from such a purchase will be about 30%. Prices are reduced to attract investment in construction; accordingly, the higher the construction floor, the lower the discount offered by the developer. 

Thus, at the mid-construction stage, the benefit will be about 10% – 15% of the cost of housing. It is worth clarifying that the people in the construction sector of this country are very accommodating and also make good concessions if you take on several objects at once.

The Turkish coast is now being actively developed by construction companies and the choice among them is quite wide. This means that they have to withstand healthy competition, which is a big plus for you and me. 

To attract buyers to their side, companies are ready to make our spending comfortable and more accessible. If your budget does not allow you to save the entire amount to purchase housing at once, and in most cases this happens, because inflation “eats up” all attempts at average savings, then some construction companies are ready to provide interest-free installments.

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Installment plans are no longer uncommon and are offered almost everywhere. On average, installment terms are quite flexible. For a down payment, you usually only need 30% of the cost of the purchased home. At this stage, a purchase and sale agreement is drawn up, which spells out all the conditions to which the parties agreed. 

Installment terms are on average for the period of construction, usually 1-2 years. The remaining 70% of the cost of the property is divided into monthly payments or you can choose the quarterly payment option. As you can see, the conditions are quite loyal, and even these conditions can be made even more comfortable by dividing payments for a period of up to 3 years, and in some companies, terms of even up to 5 years are available. 

During the installment payment period, you can use your living space or enter into an additional agreement with a construction company that can provide you with realtor and cleaning services, and there is also the opportunity to receive investment income from the purchased property.

In matters of investment, it is necessary to take into account that the property becomes the property of the buyer only after the completion of the installment plan.

The advantage of an installment plan from the developer is that there are no pitfalls, and no documentary proof of the investor’s income or solvency is required. Well, credit history also doesn’t matter at all.

With this purchasing option, housing in Turkey becomes much more realistic.

New construction and installment plans are, of course, an excellent option to save money when purchasing, but not everyone is ready to take the risks of construction.

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In this case, of course, we will consider purchasing options on the secondary market. You won’t find such big discounts here, but you can still get some value if you know where to look for it.

Developers sell some of the properties at special prices, this is quite a good offer, here you can get a 5-10% discount, but most likely these will be apartments with a small area, with the least convenient location and it is unlikely that among them there will be options with a beautiful view of the sea or mountains.

Also, Turkish companies organize sales dedicated to the holidays, which also allows you to find an acceptable option, but with such discounts, the developer will ask you to pay the entire cost of the property.

The location area plays a significant role in determining real estate prices in Turkey. 

Choose less developed areas. Real estate prices in young areas are always lower, because the infrastructure here is not as developed, there is less comfort and the presence of civilization. But when purchasing housing in such areas, you can bet on their rapid development, and the basic aspects necessary for a comfortable life are already available everywhere.

If you are looking for a picturesque and quiet corner for a relaxing time, then these areas will be the best solution for you. The savings when purchasing real estate in such an area will be about $10,000, compared to more developed areas of Turkey. Here you can find a large number of houses, comfortable, spacious and at very attractive prices, and the views from the windows of these houses will be incredibly picturesque.

To summarize, we can highlight the main aspects. 

Purchasing real estate in Turkey is quite simple and does not require excessive effort. Maximum savings can be obtained by choosing housing in less developed areas, concluding an agreement with a construction company at the start of sales. And also look for discounts; everyone loves to give gifts during the holidays.