The purchase of real estate in Turkey requires a lot of effort, especially for those wishing to own property for the first time or for big investors. The Turkish real estate market is changing rapidly and all its players need full awareness of the market and its future directions. Given the many information available on the Internet about investment or real estate in Turkey, this raises doubts about the credibility of companies that put this information on platforms and accounts on social networks.
And we belief in the role of real estate companies in providing the right information for those interested in real estate investment and the spread of investment awareness about Turkish real estate, that’s why our company Extra Property publishes educational articles about ownership in Turkey and the most important information that the owner needs during the ownership or investment in Turkey. In this article, we will highlight the most widespread misinformation about real estate in Turkey.
1 – You need a lot of money to enter the Turkish real estate market.
One of the most popular rumors in the Arab market is that Turkish real estate is expensive, and many people interested in real estate investment think that the cost of entering the market is very high and this is not true, the most important is the awareness and understanding of the market well. You can start investing in the Turkish real estate market for up to $ 50,000 by investing in housing projects or university dorms as an example, which provides a good return on investment.
Many of the major real estate investors fail to invest due to lack of market awareness and understanding of the future trends of the Turkish real estate market and because of the focus only on the quantity invested and not the type of investment.
2 – Real estate companies win a lot of money
We can not deny that real estate companies do not work to make money, but the idea promoted in the real estate circles that companies earn a lot of commissions in Turkey is wrong, and because commissions in the real estate sector vary from one company to another there is no fixed commission and the average commission obtained by companies In Turkey is 3% of the price of the property and they get this commission from the construction company of the project and not from the client.
There are a lot of costs to real estate companies in the Turkish market, which makes the margin of profit low , including the high taxes of the Turkish government and other expenses related to the sale.
3. Fast profit
Many beginners in real estate investing in Turkey are looking for quick profit, which makes them rush in their decisions and they often end up in loss. The real estate sector is one of the most growing sectors in Turkey which provides all investors with a good investment return, but the key to success in this sector is time.
Investor’s efforts must first be based on understanding the market and then choosing the best property in terms of region and quality. Then wait, as one real estate investment expert says. “Real estate investors are the only ones who make money while they are asleep.”
4. Real estate companies are similar
The right choice for the real estate company to deal with when buying the property in Turkey is important. Many owners who had a bad experience with real estate companies think that all real estate companies are similar and that the quality of their services is similar and this is not true, which makes many people wishing to own property choose the inappropriate company. The large number of ads on the social networks that encounter owners of interest in Turkish real estate and the huge amount of incorrect information spread about real estate in Turkey.
There are many real estate companies that are working to provide quality in all its services for those wishing to buy property in Turkey, which is working to strengthen the sources of information and you can inquire about these companies at the investment section of your embassy in Turkey to make sure that the company is good.
5-Cheap properties in Luxurious places
Unfortunately, many people believe that there are cheap properties in Istanbul. This is not true. There are no cheap properties in Istanbul. We can call them lower quality properties. Many real estate companies that are interested in selling only are responsible for marketing this Illusion to its customers in order to increase sales only.
Some real estate companies are working on marketing using words like “cheap apartments in Istanbul” but what people do not know about cheap apartments is as follows:
- Most of these projects are not within residential complexes and far from the center of Istanbul and there is no transportation available
- The quality of infrastructure in these areas is weak,
- The quality of the apartments is weak and most of them are old buildings.
We at Extra Property believe in the importance of information in guiding our customers’ choices. It is true that there are many non-professional companies operating in the Turkish real estate market, which sell false information about ownership in Turkey, but there are also respected companies that work professionally in providing the right information to all their clients Information and confirmation before publication, especially the legal aspect of real estate ownership in Turkey, and you can visit all the sections of our website to learn more about the most important data acquisition in Turkey and correct your confusion.