If you are thinking to invest your money in Turkish real estate sector, then it is the right time to do so and jump into this smart step!
Why it is a smart step?
Let us start with the latest information published from Turkish Statistical Institute, which stated 75% an increase in the direct foreign investment in the real estate sector comparing to 2016, as in 2017 foreigners acquired 2234 unites.
But how the Turkish government was able to attract the Foreign investments?
The answer for the previous question represented in 2 aspects:
1 – Tax incentives which made Turkey one of the best destinations for real estate investments.
2 –Offering Turkish citizenship for VIPs and Investors.
The previous incentives and actions provided a great push to the real estate sales numbers;
One of the most important cities is Istanbul, which is expected to be one of the first worldwide destinations for real estate investments, due to the fast growing and developing infrastructure, buildings, skyscrapers and airports, roads and its touristic value. One thing to be mentioned here that a lot of real estate and construction developers started to offer flexible payment plans for foreigners, as some projects can offer instalment plans up to 10 years without the need for a mortgage!
After Istanbul we can see Antalya, which is considered as one of the best options for real estate investors in Turkey, due to its important location on the sea, and usually investors are buying homes and villas over there, then benefit from its rental income in summer in addition to the capital appreciation.
3rd city is Aydin which is in the same place with Trabzon and Bursa, Aydin has a lot of summer hotels and resorts, and it is famous with its beaches in Kosadasi island.
Which nationalities are investing in Turkish real estate?
As we have mentioned previously that the direct foreign investment in Turkish real estate has increased a lot, and we can see that Iraq comes at the first place followed with Saudi Arabia then Kuwait.
All the previous information can give us an indication for the potential of real estate market in turkey, however you might still be asking your self should I buy now, or should I wait?
This is the point; the real estate market is not related to the money only! The buying/selling timing is very important and playing a main role in the process.
Also there is a secret factor we will talk about it later.
Seasonal effect on Real estate markets
In general, the perfect time for buying and selling a property in turkey is in spring, as a lot of families, students starts to move between May and Jun, As Families who has kids, they do prefer to move in the summer holiday, or after the education semester ends, also the markets move at the end of the year.
If you are looking to catch the opportunities, then you might consider buying your property in Turkey at winter! Yes, winter has some great features, which will assure you’re a great bargain!
Why the previous information is important when it comes to buying an apartment in Istanbul and Turkey timing?
As you can see the limited time pushes home owners tends to sell their properties in fast way, as the priority is to move rather than gain Money!
The previous information applies for the 2nd hands homes, while for the new properties, the construction companies will offer a lot of options, which will lead to increase in the offer and then it will be reflected in better prices.
As a buyer we do advice you not to scamp, as everyday there is a new opportunity in the market!
Also you might consider buying your property in Winter, check out our article why to buy a Turkish property in winter.
Let us move to the secret hint, the exceptions which can force some families and properties owner to sell their homes in lower prices because their need of fast cash, in this case you might get your home in turkey with lower prices up to 20%
In other hand a lot of people postpone their selling/ buying decision in the economic crises or in the high exchange rates of currencies, because they will be afraid.
Talking about the economic crises, people will have some concerns about the Turkish economics before the incoming presidential elections, however and in fact if we go back a few years, we can see that the Turkish economy survived a lot of different problems and crises including the failed coup, terrorist attacks and the decrease of exchange rate of Turkish lira.
Despite all the previous factors, the real estate sector still recording new highs and new numbers.
The best suggestion from Al-Otaibi- (Turkish real estate investments expert and general manager of Turkish Middle east investment group) is to invest in Basin Express area in Istanbul, or Beylikduzu area, both has a great potential for future.
However, in general, if you are not sure which areas is the best for your investment, then feel free to contact our consultants, as they will be more than happy to assist your and provide you with all needed information and data, in order to buy the best property based on your needs and requirements.