Property in Turkey

Property for investment in Turkey, Alanya

Turkey is well-known for its incredible blend of ancient history and culture, modern infrastructure, pollution-free environment, marvellous nature, and hospitality. The Republic has created a favourable economic climate to draw foreign investments into the Turkish real estate market.

The tendency for foreign citizens to invest in real estate in Turkey started to develop in 2012 when the Republic abolished the principle of reciprocity. The scheme Turkish Citizenship via Investment took effect in 2017 and contributed to the rise of investments. The scheme implies that foreigners who purchased real estate in Turkey have the right to apply for a residence permit and citizenship using a simplified procedure.

An investor can be sure that his property in sunlit Turkey will be a reliable asset that will bring a high return on investment.

Investment potential of real estate in Turkey

Over the past 15 years, the flow of tourists to Turkey has more than doubled and strengthened the country's economy, and so did the number of real estate buy-sell agreements signed by foreigners. Many see the purchase as a great investment opportunity.

Is it worth investing in overseas property today? Currently, the real estate market in Turkey is at the stage when the purchase of real estate is considered the most profitable. The cost per square meter has not reached its top limit yet and compares favourably with similar offers in other resort regions of European countries.

Alania stands out in the real estate market. Apartments with 1 + 1 and 2 + 1 layouts near the beaches are the most popular among investors. These apartments can bring a high return on your investment.

The most promising investment schemes in Turkish real estate:

• renting out housing;
• resale of accommodation at a higher price;
• investment in real estate projects under construction.

Each of these schemes has its benefits and guarantees the buyer return on investment.

Benefits of investing in real estate during the construction phase

Turkish new real estate projects draw the attention of foreign investors since the cost of living space is usually lower at the start of sales than on the secondary market.

What are the benefits of investing in real estate in Turkey during the construction phase?

1. Buying an apartment at an early stage of construction will allow you to receive about a 30% return on the cost of housing within1-2 years.
2. Availability of interest-free instalments plans from developers.
3. Ready to move in accommodation.

The initial stages of construction are considered to be the most profitable. The thing is that the price per square meter grows throughout construction. The more floors are erected, the higher the cost is.

Profitable investments in overseas real estate do not imply the availably of the total amount to cover the real estate purchase. Turkish developers are flexible payment-wise and offer buyers an interest-free instalment plan for the entire period of construction of the residential building.

One more benefit you do not need to spend money on interior decoration!

When the construction and improvement of the premises are finished, Turkish developers provide ready-to-move-in apartments. The apartment at a complete residential building will contain:

• painted walls,
• flooring,
• windows,
• entrance and interior doors,
• built-in kitchen,
• tiles and plumbing.
  

The new owner will need to buy only furniture and arrange decor elements of his choice.

What amount should I start investing with?

The amount of 40,000 euros will be enough to buy 50-60 square meters of accommodation in Alanya. This money can buy you a spacious apartment with a living room and a separate bedroom in a modern residential building with various services for residents. The cost of similar accommodation in Antalya is 20-30% higher.

You can find all available real estate offers in the catalog on the NEW TIME Investment website. All accommodations have detailed descriptions, technical characteristics, and photographs. Our agents will arrange a virtual show of the options you like on your request.

Turkish real estate profitability

Here is a detailed estimation of the income the purchase of overseas real estate on the Mediterranean shore can bring.

Rental business

One of the most popular schemes for foreign investors is purchasing real estate in Turkey with its subsequent lease. Both short-term and long-term rentals are popular in Turkey. Before you buy an apartment, you should consider the following.

• Long-term rent - 4-6% income.

Apartments located in large cities with supermarkets and shopping centers, government agencies, schools and kindergartens, clinics, and dental offices are suitable for long-term rent.

• Short-term rent - 6-8% income.

The best choice is accommodation in residential buildings with impressive infrastructure (swimming pools, saunas, fitness rooms, SPA salons, and playrooms for children) in the resort regions of Turkey on the coast. If you invest in Turkish real estate on the first and second coastline, the income can reach 12% annually.

Resale 

There has been a steady rise in housing prices of 10-15% a year in Turkey over the past years. An apartment in a modern residential building can bring a high return on investment after resale in a few years.

Return on investment in construction

The price of living space during the construction of a residential building depends on the stage of the project. Pricing can be roughly divided into three levels:

• from digging a pit to the first two floors - the cost of apartments is 20-30% cheaper than after the construction is complete
• from the 3rd floor to finishing works - the price is 10-15% lower than in the completed residential building,
• stage of commission- the accommodation cost will be at market value.

Consequently, buying real estate from a developer with subsequent resale in 3-4 years will allow you to earn up to 50% of the initial cost of the accommodation. Apartments can also be rented out and provide a stable source of income with long-term prospects.

The above facts indicate that the real estate market in Turkey is on the rise and has tempting offers for investors.

For those who are looking for investment projects in Europe, the specialists of the international agency NEW TIME Investment are ready to select the most attractive offers on the Turkish Riviera. They will provide detailed information on how to make a profitable investment in the overseas real estate market. We will draw your attention to all crucial details and assist you throughout the buy-sell agreement process.