A wide category of investors and money owners are looking for cheap apartments for sale in Turkey. Is this a good option? Where can you find this type of apartment? What are the reasons for the buyer to search for it? Does it have any downsides?
It is natural for you to have a lot of questions and inquiries about the property that you intend to buy, and this is what prompted us because we are organizing this report for you, which will be comprehensive on one of your many inquiries. If this interests you, please follow these lines with us until the end.
Do you find cheap apartments for sale in Turkey?
If you look at the real estate markets in the developed world, such as the European Union countries, the United States of America, or in many Arab countries, be absolutely confident that you will find that real estate prices in Turkey are the cheapest at all, and therefore it has become an ideal opportunity for many people and investors around the world to buy and own real estate, whether they want to invest or live, especially that the appropriate prices for real estate were accompanied by the high quality that is distinguished, as it is relied on international standards and high-end models of real estate that are presented in the world in terms of engineering designs and materials used, and do not forget that they are built by the most important architects and specialists .
If you think that due to the low prices of real estate in Turkey, it will be of low quality, then you are so wrong and do not forget that the diversity that you will have in front of it meets different tastes. In this context, a small financial balance will not stand in the way of buying a property. With any small amount, you can find a suitable apartment in light of the urban revolution that this country is experiencing.
Factors that determine the prices of apartments in Turkey:
There are many factors by which you can infer the prices of apartments in Turkey that you must take into account to ensure that you will not pay the money in the wrong place or be a victim of real estate fraud, and here are the most prominent:
We have already mentioned that the real estate market in Turkey is witnessing a great diversity of real estate and therefore the prices of apartments will certainly vary from one type to another according to their specifications and advantages, but what can be pointed out in this context is that apartments in residential complexes are more expensive than other apartments, such as those located within independent buildings.
As for the reasons that made the apartments of the residential complexes so high, they are:
-They provide the residents with an exemplary, elegant and quiet life.
- They make the inhabitants separate from their surroundings.
- They contain a swimming pool - sauna - steam rooms - Turkish bath and others.
-There are tracks for walking, cycling, and jogging.
-There are places for children to play and do not forget that it is surrounded by a lot of green areas.
-Life in these complexes is considered completely safe thanks to the surveillance cameras distributed everywhere, security guards at the external gates, alarms, and more.
(It should be noted in this regard that the prices of apartments in residential complexes also differ from one complex to another, and this is according to the services provided in each of them. It is not fixed because construction companies compete with each other in order to provide the best specifications in order to achieve a high percentage of sales within a short period and in order to attract the largest possible number of buyers and foreign capital).
What you do not know is that the location in which the apartment is located is the main element that determines its price. The more distinguished its location, this helped to raise its value. According to many specialists, real estate experts and owners of previous experiences, the three elements that make any real estate investment successful are (location, then location, then Location).
The question that arises in this regard (how is the location distinctive or strategic)?
-There must be a public transportation network or fast lines near it so that movement and access to the area is easy.
-There should be tourist, historical, natural or other landmarks near the apartment.
-The abundance of commercial centers - malls - modern markets - popular markets.
-Schools - educational institutions - universities - hospitals - health centers and others should be near the apartment.
What view does the apartment have, is it internal to the city, green spaces and forests, or does it overlook the sea? You have to know that as the importance of the view of the apartment increases, its price will also increase, for example, apartments with a view of the sea are very high, so it is an unsuccessful choice for those looking for cheap apartments for sale in Turkey.
The specifications that characterize the apartments in Turkey play a prominent and important role in determining their price. When we talk about apartments with modern specifications or modern construction, their price will be much higher than apartments with old design and construction because the first option does not require any modifications, repair or restoration works, while the second take a lot and may cost a lot of money.
How do you find cheap apartments for sale in Turkey?
Certainly, one of the main questions that will come to your mind is the correct way to find cheap apartments for sale in Turkey, and through the following paragraph you can find the answer to your questions:
1 - Look for apartments for sale in Turkey in remote areas or far from the city center because the closer you are to its center, the higher the price, and therefore it is not a good option for those looking for cheap apartments for sale in Turkey.
2 - You can go to search for cheap real estate in Turkey in rural areas, which do not lack any of the public services or entertaining facilities, and therefore can provide you with a good and distinguished life.
3 - Do not choose sea or forest views, but you can go towards the normal or internal view.
4 - Use a specialized real estate company and avoid searching for real estate for sale in Turkey on your own, as this does not help you to easily find the right real estate option for you, as real estate companies save you a lot of effort, time and money, and you can benefit from their many relationships with construction companies to get high discounts.
Buying an apartment in Turkey under construction:
Many real estate buyers resort to buying an apartment under construction in Turkey because its prices are cheaper than the prices of ready-made properties. Therefore, you can take advantage of this opportunity and buy a cheap or moderately priced apartment. Add to your information that after the completion of the construction stages of the project, the prices of apartments rise and, when resale, it is possible to take advantage of the price difference that will result between the buying and selling stages.
Can you find under construction apartments for sale in Turkey easily or are they not available in abundance? Certainly, you can find a lot of real estate offers for sale in Turkey because the building companies are keen to establish a lot of important projects in order to meet the great demand for purchase.
Buying an apartment in installments in Turkey:
If you do not have the sufficient financial balance to pay the full value of the property at once, this does not mean that you should back down from buying the apartment you dream of. On the contrary, among the many facilities provided by the Turkish government to those wishing to buy a property on its land is the possibility of buying an apartment in installments, this has many benefits, the most important of which are:
*The buyer will not be facing any financial pressures as he can buy today and pay off in the long run.
*You can find many offers, where some companies make the installment period for 6 months, another for 12 months, a third for 24 months, and a fourth for 36 months, and there are more offers than all of the above, so the buyer can choose what suits him.
*An apartment can be purchased in installments in Turkey through one of the construction companies or through one of the Turkish banks that had earlier purchased real estate from the building company and paid it in installments to the buyer and granted him a longer period.
*Although the offers of ready-made apartments for sale in Turkey in installments are available, they are rather few.
*Installment apartments are an alternative to renting because eventually the apartment will be yours.
Does anyone who buys apartments in installments in Turkey only do not have enough budget to pay their value immediately? Certainly not, as many businessmen and the wealthy choose it in their desire to diversify their sources of investment, as this helps to build wealth quickly and avoids risks.
Importance of buying cheap apartments in Turkey:
If you choose to buy a cheap apartment in Turkey, you should know that you will get a set of important privileges that will provide you with great benefit, and through the following paragraph you can find it:
-Real estate prices do not remain stable for a long time, but are rapidly changing depending on the surrounding conditions, especially in light of the great development that Turkey is witnessing in its various fields, as it takes the upward path and records significant heights as a result of several things, the most important of which is the high population density in Turkey and the great demand for buying real estate In addition to the big tourist seasons.
-It helps you get rid of the burden of rent.
-The areas with cheap apartments do not lack basic amenities or services.
-It does not contain luxury apartment complexes and therefore you do not have to pay the monthly fees that you pay in it.
-Most of the urban transformation projects that are organized are targeting cheap or remote areas, meaning that in a short period of time you will find that they are witnessing an unprecedented urban development and progress.
Cons of cheap apartments in Turkey:
Although it also has positive aspects, there are many negative aspects that you should take into consideration when buying real estate in Turkey, which are:
-The standard of living in it is not quite as luxurious as you find in luxury areas.
-Some areas may be a bit far from public transportation and utilities.
-You will not find the services that are available within the luxury residential complexes.
-Not suitable for anyone who wants to get high returns from real estate investment.
-The increase in prices is not very high.
-A large percentage of the real estate in these areas is old construction.
-These areas do not benefit from the tourist seasons because tourists prefer to stay in the luxurious areas.
Do you find cheap apartments in Istanbul?
The city of Istanbul is one of the main and important cities in Turkey, where there are many important real estate offers that deserve to be taken a step towards. Despite the high importance of the city on the economic, geographical, strategic and political levels, and it topped the list of the best and most important cities in the world, this did not prevent the availability of lots of special real estate offers in it and within its most important areas.
The most important cheap areas of Istanbul:
Through the following paragraphs, you can see the most important areas that contain cheap apartments in Istanbul:
1 - Beylikduzu area:
One of the most prominent areas that can be searched for apartments for sale in Istanbul is Beylikduzu, which is the modern and upscale urban face of the city. It indicates a rise in prices in the coming period as a result of the great demand for it on the one hand and as a result of its presence on the European side, which gave it a lot of investment importance.
In this regard, we must point out a very important matter, which is that the issue of its distance from the city center is no longer a problem at all, after the Turkish government has made a lot of efforts to develop and improve its infrastructure and the development of the surrounding transportation network and the passage of the Metrobus line that connected it with various regions and raise the value of real estate investment in it.
2- Silivri area:
It is considered one of the cheapest real estate areas in Istanbul in general and is located on the European side of the city. It has an elegant rural character similar to the European countryside, where the vast green spaces blend with luxurious architectural designs and modern villas of modern style.
The Turkish government is seeking to provide it with a line from the metrobus of Beylikduzu to make transportation to it easy.
3- Kartal area:
Recently, many construction companies have turned their attention to it in order to build many important strategic projects with a luxurious and modern urban style. It is one of the important areas of the Asian side, with a population of nearly half a million people, and it is expected to become one of the central areas in the coming period.
4 - Esenyurt area:
This area is located on the European side of the city and is characterized by being close to the most vital and luxurious areas in the city. As for the real estate character of the city, it is divided into two parts, the first is old popular and the second is modern. It should be noted that the area is witnessing many urban transformation projects aimed at removing old real estate and transforming it into a modern and developed urban destination.
The reason that real estate prices in Esenyurt Istanbul are rather cheap is that so far no major strategic project or metro line has passed through it, but work is now underway on the construction of a new metro line and it will certainly have an impact on prices in it.
The importance of buying apartments in Turkey:
In your opinion, what are the reasons behind this great foreign rush from different countries of the world to buy real estate in Turkey, not other high-end and developed countries around the world? Is it possible that the main reason is the desire to buy cheap real estate only, or are there other reasons?
Certainly, there are many other reasons and motives, which we will talk about in greater detail through the following paragraph:
Obtaining a real estate residency:
Did you know that whoever buys a property in Turkey for housing, with a value of at least 75,000$, can apply for real estate residency, which is one of the most important types of residency in Turkey at all, as it allows him to obtain many of the rights that a Turkish citizen enjoys.
Applying for Turkish citizenship:
One of the fastest ways to obtain Turkish citizenship is real estate investment, where the price of the property is only required to be at least 400,000 US dollars, with a commitment not the sale of the property before at least three years have passed.
It is no secret to anyone the amount of privileges that can be benefited from when obtaining this citizenship.
Real estate investment opportunity:
According to the official authorities, more than 80% of those who buy real estate in Turkey aim to enter the real estate investment world in order to obtain high profits, develop and double the capital.
What assures you that real estate investment in Turkey is a great opportunity are the following:
-The high population density in the Turkish state.
-The high costs of raw construction materials because Turkey imports them from abroad.
-Being a tourist destination for many world tourists.
-The influx of foreigners from various countries of the world in order to achieve multiple goals.
-The great luxury and modernity that characterizes real estate in Turkey.
How to invest in real estate in Turkey?
There are many investment ideas that can be implemented in order to obtain abundant profits and this is what we will discuss through the following paragraph:
There are many ideas suitable for real estate investment in Turkey in order to achieve a high profit and success rate, and the most common of them is renting real estate to obtain a rewarding month’s return every month and throughout the year.
Many venture capitalists choose to buy old real estate in order to develop, restore and give it some modern touches in order to rent it out for a high return or sell it again for an abundant profit.
Is real estate investing a safe project?
Certainly it is, as experiences over the years have proven that real estate investment has few or almost no risks compared to the risks that will be faced when investing in one of the other areas that are always threatened with the loss of financial hardship. You have to know that real estate maintains its value and records an increase continuously. It does not require much effort, fatigue and time to make profits.
Why are the prices of apartments in Turkey cheap?
There must be good reasons that made real estate prices in Turkey cheap or appropriate, the most important of which is the monitoring and follow-up of the Turkish government to the Turkish real estate market in its desire to make the situation stable and put a barrier in front of sellers from manipulating prices as it suits them in order to obtain money illegally, and with intensity, the demand for buying real estate in Turkey recognized the need to obtain a real estate appraisal document that controls real estate prices and prevents price bids.
It cannot be neglected to mention the importance of the reviving Turkish economy and the role it played in the stability experienced by the Turkish state today in its various sectors without exception, and this had a positive impact on the real estate sector in particular. Add to your information that the Turkish economy is expected to be ranked fifth in the world by 2030 .
In the context of talking about the importance of buying apartments in Turkey, we must point out the many facilities provided by the Turkish government to those wishing to own real estate in Turkey, among the most prominent of which it provided:
-Exemption from value added tax.
-Ease of procedures for completing real estate ownership in Turkey.
-Allowing investors to purchase what suits them of real estate items without any restrictions or limits.
-Abolish the principle of reciprocity.
This is the most important information that interests you about searching for cheap apartments for sale in Turkey. If you have more inquiries, do not forget to contact our real estate consultant to provide you with the required assistance and with a list of the most important offers available to choose the best one for you.