Every year, the demand for Turkish real estate is growing steadily among foreigners. This trend is due to the attractive investment climate in Turkey and beneficial conditions for a real estate purchase for foreign citizens. The annual rise in prices for resort real estate raises the profitability of investments. How can you make money on real estate in Turkey?
Let's talk about the most popular schemes for investing in Turkish real estate for further resale using the example of sunny Alanya. We will also highlight important aspects to consider when choosing real estate and finalising a buy-sale agreement.
Potential income from the resale of real estate: learning to evaluate
You can make money on the resale of real estate in Alanya in the following ways:
- Invest in apartments at the pit stage or project drawing. The benefit of investments lies in saving 20-30% of the real estate market value. By purchasing real estate at the pit stage of construction, the investor can resell it after the residential building is ready to move in or in a few years. The annual rise in prices in the real estate market will provide a good income from real estate in Turkey, especially in resort cities such as Alanya, Antalya, etc.
- Purchase real estate in new, developing areas of Alanya. What is the benefit? In new regions, real estate prices are still low, and with their development, the cost per square meter will also increase. Since the areas of Alanya are developing rapidly, it is clear that real estate will also rise in price here just as quickly.
- Purchase secondary real estate on the terms of urgent sale. Various circumstances force the owners to put up apartments for sale at prices significantly lower than the market price. New Time Investment monitors the most attractive offers on the secondary housing market and provides suitable options for potential customers.
We know how to make money on the sale of real estate in Turkey so that the investment is guaranteed to bring income. Next, consider how to choose the most liquid real estate.
What to look for when purchasing property in Alanya for resale
When investing in real estate to earn on resale, the following points should be considered:
- Property location. The liquidity of housing directly depends on the distance from the sea, the city center, and the main attractions. The better the location, the easier it is to sell the apartment.
- The infrastructure of the area and residential buildings. The better developed the region and the more additional services provided on the territory of the residential building, the higher the demand for apartments.
- Technical characteristics of the object: the state of engineering networks and communications, the quality of construction materials and finishing, etc.
In the process of real estate purchase in Turkey, bureaucratic and legal factors are also important:
- Availability of permits for construction from the developer on a specific construction site.
- Compliance of the object with the development plan indicated in the contract and registration with the Cadastral Office.
- Reliability and financial viability of the construction company in terms of completed construction.
- No debts or encumbrances. Be sure to check the object, whether it is free of lien and whether there is a mortgage.
Who can sell property in Turkey
On the territory of the Republic of Turkey, there are several categories of sellers of residential and commercial real estate.
- Development companies
Turkish developers open sales at the earliest stages of construction, including project planning and pit stage. Of course, this is the most popular way to buy real estate in Turkey profitably, so it is in high demand. Moreover, according to Turkish law, the rights of buyers are fully protected. The developer must go through a series of bureaucratic procedures and prove his financial reliability to obtain a building permit. In Turkey, real estate is constructed exclusively with developer funds. And for violation of the terms of construction, considerable penalties are provided.
Nevertheless, the human factor should not be excluded, and you should choose a developer very carefully. It is necessary to check all permits for construction and study reviews and opt for the developer with commissioned real estate.
If you do not speak Turkish or understand local laws, you should not look for developers and buy property on your own. This can lead to negative consequences, such as the failure of an agreement or the loss of money. Contact a licensed real estate agency with a good reputation for qualified assistance.
A group of specialists should provide buyers with qualified services in the selection and purchase of the real estate. However, you need to select a specialist carefully. His competence covers a wide range of tasks, including consultations, the procedure for registering real estate in Turkey, and understanding the legal and financial aspects of the transaction.
A qualified professional will assess the technical condition, architectural style, and construction quality of the real estate. Also, a good manager has to understand all the aspects of real estate management, the taxation system, and, of course, be a decent person with high moral character.
- Real estate agency
It is the largest and most sought-after group of sellers, especially among foreigners. The popularity of real estate agencies grows due to the high level of service and understanding of the legislation.
Time-tested real estate agencies with extensive experience in Turkey greatly simplify the procedure of real estate purchase, eliminating any risks when choosing and registering real estate.
Our company employs professionals who perform the following tasks:
- Negotiate with clients and provide up-to-date information on the selection of real estate in Turkey, the real estate market in Alanya, pricing policy, and profitable options for purchasing real estate.
- Conduct the selection and display of real estate based on the request of the buyer.
- Check the reliability of developers and title documents for real estate from private sellers and work only with reliable developers in Alanya.
- Prepare documents for registration of the buy-sale agreement, hire a translator, an appraiser, and a notary to e full support for the agreement.
- Provide after-sales service.
To sum up, choosing a reliable company ensures the simplicity and security of purchasing Turkish real estate. New Time Investment will save your most precious resource time and take care of the clarity of the buy-sale agreement.