While there’s a currency crisis, which is accompanied by an increase in rate of inflation Turkey is a country with a large GDP and a thriving economy, and a growing population. The reduction in the value of the Turkish lira led to the demand for real property in Turkey to rise significantly. There is a large demand for both local and foreign investors.
Turkish Citizenship through Investment
In 2018 , a new law went into effect that allows foreign investors to get Turkish citizenship when they buy the home (or more than one property) in Turkey that has a value of less than 250.000 Dollars. This is a fantastic chance for many foreign investors.
Capital gains from property in Turkey
A property purchase in Turkey has proved to be a great investment for many years.
A typical capital gain of 5 percent in dollars annually is fairly common, based on the location and particulars of your property in Turkey.
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Procedures for buying a property in Turkey
Because the buying of property in Turkey is quite quick Real estate in Turkey is a great investment for foreigners. When compared to other countries, buying properties in Turkey is possible to complete in a relatively short amount of time. The entire process, from choosing the appropriate property until the transfer of title can be completed in less than two weeks. It is recommended to consult an agent who is licensed every time to prevent certain dangers.
Motives for buying a home in Turkey
A large portion of home purchases are made by visitors who are impressed by the Turkish lifestyle, style and economic appeal. It is among the most sought-after destinations for foreign real estate investors, Turkey continues to increase in importance each year.
What is the ideal time to Purchase a Home in Turkey?
A lot of real estate agents will give you advice and tell you; “now is the time to purchase!”
The best answer is when you locate the right property at the perfect area, at the right cost, as well as within the budget. A more thorough answer to when is the ideal time to purchase a property in Turkey is based on the following other factors:
Seasonal Timing
The weather during the spring season is always ideal in Turkey. So, this time is ideal for visiting homes as well as to view the future home you’ll be buying as a holiday residence in good weather. Although the summer and spring period is the most sought-after period to purchase a home in Turkey however, there are some who prefer to purchase property during the winter season.
Based on our experience, we can conclude that it is generally some advantages to buying properties in winter season. The reason is the fact that there are generally fewer transactions in winter. The property owner is in a better position to negotiate during this time. Additionally, the entire process will take longer in the summer and spring seasons.
Turkish Lira Exchange Rate
The Turkish Lira is currently in an official crisis in relation to it’s counterpart, the Euro as well as the Dollar. This could be a benefit to foreign buyers of property and buyers who want to negotiate reasonable rates due to this. The worth of your local exchange rate in relation to the Turkish Lira could make or break an enormous amount of cash.
It is always advisable to keep track of international news and foreign policy that could impact your Turkish Lira. Aegean Locations is able to provide current information on this topic and more.
It is recommended to examine what exchange rates are offered by both the sending foreign bank and the the receiving Turkish bank before transfer large amounts. Aegean Locations is assisting all of our international clients in this process and is in close communication with the bank that is receiving.
Off Plan Properties in Turkey
Off-plan properties are defined as properties that aren’t completed yet, and are still in the construction stage (or even prior to that stage). All developers offer a comprehensive overview of the project, including 3D impressions floor plans, floor plans, and lists of materials. The buyer of a property selects an option based on study and the reputation of the developer.
Aegean Locations works with a very small amount of quality and reliable construction firms located in Izmir in Izmir and Cesme. We help foreign investors through the entire purchasing and selection process.
The benefits of purchasing Off-Plan:
A wide range of options and the ability to customize The option of buying a property off-plan allows the purchaser to choose from a variety of units, locations and interiors that are customizable.
Building Guarantee: Purchasing off-plan directly from the developer gives the buyer with building warranties.
Payment Plans-Instalments: Off-plan purchase generally are defined by a deposit at the beginning, paired with a payment schedule until the time of completion.
This plan of payment offers the payment in installments and allows the purchaser the opportunity to plan their budget and save.
Favourable Prices: In the construction/development sector industry it is quite common that off-plan properties are competitively priced in order to attract sales and generate funding. To increase sales momentum, many developers encourage early purchases by offering massive discounts, often from the market price when compared to the prices that are offered following completion.
Capital Gains: Generally it can take at least one or two years for a development plan to be completed. As the purchaser purchases the property for less than its the market value, substantial capital gains that are upwards can be made.
Earnings from Resales: There are many investors around the world who can benefit of early discount on purchase and then sell their investment following the completion of the construction. It can be a profitable venture. Aegean Locations will give you an accurate overview of the most trustworthy projects with the highest standards. Additionally, we have a thorough understanding of the reliability and history of the most reliable construction firms located in Izmir as well as Cesme.