Top 5 Things You Need to Know Before Purchasing Property in Turkey

Top 5 Things You Need to Know Before Purchasing Property in Turkey

1.Don’t Select International Agency

The main problem is “OverPricing” for foreign investors in Turkey.

Because of trust issue many buyers select International agencies which has many partners.

If you go International agency for example Chinese, British located head quarter. They are working with higher commission rates in İstanbul.

Local agencies like Turk Citizen and Select Turkey working only %2 Commission rate which is legally allowed by goverment.

You can check notary approved sales contract to be sure about the commission rate.

As an international investor you need to think like local in Turkey Property Market.

Because only %5 International Investors of market and %95 of market is local buyers.

So if you go any international market agency you can be overpriced.

But if you buy a good property best location and near to finish project you can gain up to %50 profit which is higher than inflation rate and if you want to resell it to locals you can easily sell and gain money.

2. Don’t Buy any property outside of Istanbul

Determine location when buying property because it is matter.

If you buy a property in Turkey, you will be also a landlord. So you will also purchase a part of land whic project is located.

So when developer making a new project the main cost for them is the land.

If you purchase prime location , price will be higher. But if you go rural places like Esenyurt and newly developed areas price will be lower and you can buy up to 5 units for $250,000 budget.

But be aware of that if you purchase 5 units rent will be lower if you purchase 3 units rent will be higher. So return of investment almost same. Because of you purchase more units it will become hard to manage it for you aftersale.

3. Don’t buy a property from a Developer lack of experience

Make sure that you selected best developer and prime location.

For that just check developer past. How many projects they built before. What is their profit ? If it is a brand company local people will also seek for that company and project and you will gain money.

 

4.Don’t Buy a Rent Guarenteed Project

Rental income is same for all Istanbul %4-5 per year for apartment. For example if you buy $250,000 property it means you will receive 1000$ per month. But maintenance fee paying by tenant in Istanbul so your rental income around %5-6 if you compare with other countries.

But some of the developers and sales offices giving %8-10 rental guarentee which is out of market and impossible.

We understand that you are OverPricing and they are giving your money to you. They sell you higher prices at the beginning and with your own money they pay your rental income every month.

So you dont need any Rent Guarentee. If you purchase a good location project you wont have any problem to rent it in Istanbul.

As Turkcitizen we are giving Free Consulting to our customers and aftersale we follow all rents.

5.Don’t Get List Prices

Bargain is a part of life in Turkey. So you need to be a good dealer.

As a good dealer you dont need to do anything. Because we are giving Best Price Guarentee to our customers.

We know which developer giving what as last price. So we are getting this price for you.

Are you still reading. Congrats just contact with me following ways to get best deals in Turkey Property market.


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