The real estate market of Turkey is rapidly developing and offers several promising advantages for investors. Beautiful landscapes along with reasonable prices and an increasing demand for rental make the country a favorable investment destination. Many Americans are now becoming aware of the stars and stripes of investment that owning property in Turkey can present.
So why would one invest in Turkish real estate?
Just like other markets, the Turkish property market always has room for development and improvement. Alanya Real estate prices have fluctuated over the past few years, as it does usually, but these times of rapid real estate price change have generally targeted major metropolitan areas such as Istanbul or Antalya.
The current prices of real estate in Turkey is low compared to the bustling prices of the US and Europe. Whether it’s an apartment with beach views, or a centrally located apartment, both options are affordable. Profitable investments are the core advantage of this approach when investors purchase high-end real estate for an inexpensive price.
As a bonus, investing in Turkish properties allows holding Turkish citizenship as well. If the specific threshold is needed for investment, any person can apply for such a status as being a citizen.
What Profits Can Be Earned?
1. Property Value Increase
As the Turkish market grows, the property values. Investors can benefit from this increase if they decide to sell in the future. This capital appreciation can add significant profit over time.
2. Rental Income
In tourist hotspots like Antalya, Istanbul, and Bodrum, rental income is strong. Vacation rentals bring in profits, especially during the high season. Some owners make enough in rental income to cover their costs and still have extra profit.
3. Long-Term Investment Growth
Turkey’s growing economy and population mean long-term growth for real estate. This is attractive for investors looking for stable, long-term returns. Holding property in Turkey for several years could lead to significant financial gain.
Real-Life Example: How John Made a Profit in Turkey
John, a business owner from Texas, decided to invest in Turkish real estate. John was intrigued about the idea of owning a second home which could also act as a source of revenue, and such belief led him to purchase a cozy villa situated in Antalya which he found through a Turkish real estate company that targeted foreigners looking to invest in Turkey.
During the peak season, John leased the villa to tourists on high season for short term rental.
Over the next few years, the villa’s value increased, and John earned steady rental income. This income covered his expenses and gave him extra profit each year. Now, John has a beautiful holiday home and a valuable investment.
How to Choose the Right Real Estate Company
Buying property in another country can feel overwhelming. Choosing the right real estate company makes a big difference. Here’s how to find the right one:
- Choose a company with experience in the Turkish market. They should know the areas, property values, and legal processes.
- A good company will have positive reviews and happy clients. Look at online reviews or ask for references.
- A reliable company should offer more than just listings. They should provide legal assistance, property evaluation, and after-sales support. This ensures a smooth buying experience from start to finish.
As you operate in the foreign market, communication is very important. The right company will always keep you updated, attend to your queries and walk you through every procedure.