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Investing in Turkish Real Estate: A Smart Decision?

Buying a property, no matter which part of the world you choose, this decision never brings you any kind of loss. One of the main reasons is the constant uprise in the property’s worth all around the world. Specifically, when we talk about a place as busy as Turkey, buying a property in turkey is always a smart choice.

Talking about a smart choice, there are a few aspects that must be considered while considering the options of buying real estate in turkey. A thorough Investor/Investment Search needs to be concluded to find an ideal Property Investment. For the sake of understanding, it is suggested to always lean on an expert who knows how to manage such property buying or selling situations. There still are some places to look at for properties if you are planning to do all the hustle by yourself.

  • Property Unit Trusts
  • Share in Listed Property Companies
  • Real Estate Investment Trusts (RIETS)

Since you are planning to do property hunting by yourself, the following are some of the advantages and risks that are always present when buying a property.

See Also: Calgary commercial real estate

Advantages

  • The first and most important benefit of purchasing a home in Turkey is the attractive Return on Investment (ROI). It’s important to remember that purchasing Turkish real estate can be a reliable source of income. A solid return on your investment, whether it’s a long-term rental or a popular holiday rental along the Turkish coast.
  • Another major advantage of considering buying Turkish Real Estate is that it can increase your Family inheritance and can be proven appealing for yourself and the generation to come. Among the several benefits that the Turkish government provides to foreigners who purchase real estate in the country. It’s worth noting that Turkey has a low inheritance tax, so purchasing Turkish real estate can be a long-term strategy for passing down family wealth without the higher taxes that other nations impose.
  • This goes without any saying that fluctuation of the price keeps happening all the time. But in turkey due to the promotion of tourism by the Government and increase of the visitors, real estate can be proven beneficial if you play with patience. As previously said, the property market may fluctuate, but according to some credible studies conducted by specialists, if you are willing to wait, you will receive a higher return on your investment.

Risks

  • As stated above, Turkish real estate is advantageous when it is bought based on the long term. This gives rise to risk, according to which when once invested if you want a return bigger than that of investment, it needs to be left for the long term. As you cannot get your money out quickly because it takes time to sell.
  • When a property is purchased, it cannot just be abandoned; it needs adequate care and attention now more than before. Additional costs, such as property maintenance and upkeep, must be considered. This must be evaluated and factored into your long-term budget.
  • Last but not least, buying a property always wipes out a big sum of your savings which can be considered as a risk as it needs huge commitment and a great deal of patience until the price of the property increases. As per the experts, a minimum of a year is demanded the properties to increase their worth but it majorly depends on the area.

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