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Current questions about buying real estate in Turkey

When planning to move to Turkey, a person is forced to resolve several basic issues and the most significant one is the issue of a roof over his head. What do you need to know when planning to rent or buy property in Turkey?

Is it necessary to pay in lira?

The amendment, adopted in January 2022, obliges all foreign home buyers in Turkey to pay for housing in Turkish lira. After completing this transaction, the buyer is issued a corresponding certificate called Döviz Alım Belgesi, which should be submitted to the General Directorate of Land Cadastre and Registry (Tapu Kadastro Genel Mudurlugu) for re-registration of property. To buy real estate in Turkey profitably, without hassle and risks, contact us. But of course, in fact, the owners do not agree to accept the lira as payment and, after receiving this certificate, they have to convert the lira back into euros in order to pay the seller under the purchase and sale agreement.

Taking into account the fluctuations in the Turkish lira that have been observed on the foreign exchange market over the past few years, this action on the part of the country’s leadership looks logical and justified, its only goal is to strengthen the national currency.

What factors influence the value of real estate

When planning to buy property in Turkey , you need to take into account the peculiarities of the local market. There are many such parameters, the most significant are:

  • Regional and district reference. The closer to the center of the country/region, the more expensive.
  • Total area of the object.
  • Proximity to the sea.
  • Degree of development of nearby infrastructure.
  • The degree of picturesqueness of the landscapes opening from the windows of the house.
  • Quality and overall cost of finishing.

Also, the cost of housing is influenced by the degree of its readiness, provided that we are talking about a facility at the construction stage.

Primary or secondary market: which is more profitable?

Despite some non-obviousness of this statement, buying housing on the primary market in Turkey is a more profitable solution compared to the secondary market. Firstly, apartments can be at various stages of completion and with a reasonable approach, significant savings can be made without compromising the final result. When purchasing a home at the foundation pit stage, savings reach 30% of the total amount, which is quite significant.

In addition, many developers, amid strong competition, offer buyers various promotions and special offers. For example, an investor who has paid the full cost of an apartment in a new building can receive a discount of 5-10%. Another important benefit of buying housing in a new building is that you can buy such property in installments. Unlike a mortgage, this form of payment does not involve commissions or interest on the loan, since it is not essentially a loan.

Which area of Alanya would be ideal for Russian-speaking citizens to live in?

Local residents call Alanya little Russia and there is a certain logic in this. There are immigrants from Russian-speaking countries in each of the districts of Alanya, there are quite a lot of them. However, if we talk about a specific area, then Mahmutlar will be ideal for Russian-speaking people. Thanks to the significant concentration of immigrants from the CIS, adapting to this area will be extremely easy.

The cost of housing in this area is rising, since there is simply nowhere to build new facilities. As for education for school-age children, it is worth paying attention to the Kestel area. There is a private school here, a branch of the Moscow region educational institution “Classics M”. The school is 100% Russian-speaking, the educational process is arranged taking into account maximum efficiency and comfort for Russian-speaking children.

Is it possible to make money on Turkish real estate?

Yes, and this income can be varied. On the one hand, the buyer has the opportunity to consider the purchase as an investment, long-term and obviously profitable, taking into account the fact that the cost of rent and purchase is constantly growing. At the same time, we are not talking about any serious risks. Housing can be purchased with a mortgage and rented out; repayment of the loan in the context of this situation will occur without serious financial participation on your part. Another option for making money is to purchase real estate and rent it out, wait for the next wave of price appreciation and resell the property, also reaping tangible benefits.

How to buy a home profitably and safely

To avoid becoming a victim of scammers and make a profitable purchase, to avoid unnecessary hassle and mistakes, contact our company. We will help you find a property that will meet your expectations and budget, help you prepare the necessary documents and accompany you at all stages of the search for housing and its purchase. Please note that we provide assistance not only in purchasing a home, but also in selecting rental options. Contact us and get a free consultation right now.

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Anna Unal
Anna Unal
General manager & Owner
+905352638463
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